PowerShares to Close 19 ETFs

Invesco PowerShares Capital Management LLC plans to close 19 of its exchange-traded funds, which it says represent less than 1 percent of its total assets. The company had total assets of $25.8 billion as of March 31, 2009, and should include 116 ETFs after the announced closures.

“After carefully evaluating numerous factors including shareholder considerations, length of time on the market, asset levels and the potential for future growth, we proposed closing certain portfolios that have not gained sufficient acceptance with investors,” says Bruce Bond, president and CEO of Invesco PowerShares. “We remain fully committed to the ETF industry and expect to offer new, exciting products in the months ahead.”

The funds that will closed as of May 19 are:
– PowerShares Dynamic Aggressive Growth Portfolio (PGZ),
– PowerShares Dynamic Asia Pacific Portfolio (PUA),
– PowerShares Dynamic Deep Value Portfolio (PVM),
– PowerShares Dynamic Europe Portfolio (PEH)
– PowerShares Dynamic Hardware & Consumer Electronics Portfolio (PHW)
– PowerShares FTSE RAFI Asia Pacific ex-Japan Small-Mid Portfolio (PDQ),
– PowerShares FTSE RAFI Basic Materials Sector Portfolio (PRFM)
– PowerShares FTSE RAFI Consumer Goods Sector Portfolio (PRFG),
– PowerShares FTSE RAFI Consumer Services Sector Portfolio (PRFS),
– PowerShares FTSE RAFI Energy Sector Portfolio (PRFE),
– PowerShares FTSE RAFI Europe Small-Mid Portfolio (PWD),
– PowerShares FTSE RAFI Financials Sector Portfolio (PRFF),
– PowerShares FTSE RAFI Health Care Sector Portfolio (PRFH),
– PowerShares FTSE RAFI Industrials Sector Portfolio (PRFN),
– PowerShares FTSE RAFI International Real Estate Portfolio (PRY),
– PowerShares FTSE RAFI Telecommunications & Technology Sector Portfolio (PRFQ),
– PowerShares FTSE RAFI Utilities Sector Portfolio (PRFU),
– PowerShares High Growth Rate Dividend Achievers Portfolio (PHJ),
– PowerShares International Listed Private Equity Portfolio (PFP).