As of July 1, five Invesco PowerShares’ 120 ETFs have new names and are linked to new indexes. Their ticker symbols remain unchanged.
“We believe the new indexes will better align the portfolios with the changing investment landscape, provide investors with the potential for improved risk-adjusted returns, and position our family of ETFs for continued growth,” said Ben Fulton, Invesco PowerShares managing director of global ETFs, in a statement.
The PowerShares Autonomic Growth NFA Global Asset ETF (PTO) is now the PowerShares Ibbotson Alternative Completion Portfolio ETF.
Its former index, the New Frontier Global Dynamic Growth Index, has been replaced by the Ibbotson Alternative Completion Index, which tracks the investment performance of a group of asset classes; its investment strategy focuses on those assets that Ibbotson expects to have a low correlation, or different performance, from traditional assets classes.
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The PowerShares Autonomic Balanced Growth NFA Global Asset ETF (PAO) is now the PowerShares Riverfront Tactical Balanced Growth Portfolio ETF. The former index, the New Frontier Global Dynamic Balanced Growth Index, has been replaced by the RiverFront Global Tactical Balanced Growth Index.
This RiverFront index incorporates a five-step process to build a strategic allocation of large-, small-, and mid-cap stocks, international securities, investment-grade bonds, high-yield bonds, commodities and other assets classes.
It is generally 80% invested in equities and 20% in fixed-income and other assets, including currencies.
The PowerShares Autonomic Balanced NFA Global Asset ETF (PCA) now trades as the PowerShares Riverfront Tactical Growth & Income Portfolio ETF. Its former index, the New Fronter Global Dynamic Balanced Index, has been replaced by the RiverFront Global Tactical Balanced Growth & Income Index.