Invesco has announced it is closing and liquidating four of its PowerShares-branded ETFs in December 2017.
The last day of trading for the ETFs will be Friday 22 December 2017.
The funds are as follows:
The PowerShares Contrarian Opportunities Portfolio (NYSE Arca: CNTR) tracks the Dow Jones US Contrarian Opportunities Index which measures the performance of stocks that lag behind the broader market in terms of performance, but outrank their peers based on fundamentals-based and other qualitative criteria.
The PowerShares Developed EuroPacific Currency Hedged Low Volatility Portfolio (NYSE Arca: FXEP) tracks the S&P EPAC Ex. Korea Low Volatility USD Hedged Index which is composed of the 200 least volatile stocks in the S&P EPAC ex. Korea LargeMidCap Index.
The PowerShares Europe Currency Hedged Low Volatility Portfolio (NYSE Arca: FXEU) tracks the S&P Eurozone Low Volatility USD Hedged Index which is composed of the 80 least volatile stocks in the S&P Eurozone BMI Index that meet a certain liquidity threshold.
The PowerShares Japan Currency Hedged Low Volatility Portfolio (NYSE Arca: FXJP) tracks the S&P Japan 500 Low Volatility USD Hedged Index which is composed of the 100 least volatile stocks in the S&P Japan 500 Index. The constituents are weighted relative to the inverse of their volatility with the least volatile stocks receiving the highest weighting.
FXEP, FXEU, and FXJP all hedge their exposure 100% to the US dollar using rolling one month forward contracts that are adjusted monthly.
“PowerShares regularly evaluates its product line to ensure that we are offering a diverse set of funds to help investors meet their desired investment outcomes,” said Dan Draper, global head of ETFs for Invesco. “We think about how we can continuously better align our products with the changing needs of investors.”
The last day of trading for the ETFs will be Friday 22 December 2017, with the funds being delisted from the exchange as of the following trading day. The final day that creation orders will be accepted for the ETFs will be 14 December 2017. The final distribution to shareholders is expected to occur on or around 29 December 2017.