According to a late November SEC filing, PowerShares Capital Management could be gearing up to launch four actively managed exchange-traded funds:o PowerShares Active AlphaQ Fundo PowerShares Active Alpha Multi-Cap Fundo PowerShares Active Mega-Cap Portfolioo PowerShares Active Low-Duration Portfolio
The AlphaQ and Alpha Multi-Cap Fund will each own 50 stocks, equally weighted. The AlphaQ selects Nasdaq stocks, while the Alpha Multi-Cap focuses on U.S. large-cap stocks.
The Mega-Cap Fund will screen 50 U.S. mega-cap stocks and the Low-Duration Portfolio is a bond fund that aims to outperform the Lehman Brothers 1-3 Year U.S. Treasury index.
Stocks for the equity funds are selected based on a quantitative selection methodology called “NOW” ranking, developed by AER Advisors. The system combines aspects of stock money flow with traditional securities analysis.