PowerShares Capital Management LLC is planning to launch eight exchange-traded funds covering a range of sectors, including few that are not yet represented by an ETF--those being funds covering nanotech, building and construction, aerospace and defense.
With the rollout, PowerShares will offer a total of 31 ETFs, making it the second-largest provider of ETFs behind Barclays, which offers 102 ETFs, Dow Jones reports. State Street Corp. and Vanguard both currently offer 23 ETFs.
Six of the PowerShares ETFs are based on the Dynamic Intellidex indexes, which seek to outperform standard indexes. The new ETFs are: the Building & Construction Portfolio, the Energy Exploration & Production Portfolio, the Insurance Portfolio, the Oil & Gas Services Portfolio, the Retail Portfolio, the Utilities Portfolio, the Lux Nanotech Portfolio, and the Aerospace and Defense Portfolio.
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