Invesco PowerShares Announces Changes For Municipal Bond ETFs

invescoInvesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), today announced that the Fund name, underlying index, investment objective, certain fundamental and non-fundamental investment policies and principal investment strategies changed for its three PowerShares Municipal Bond ETFs.

Effective July 8, 2014, the PowerShares Insured National Municipal Bond Portfolio (PZA) will track the BofA ML National Long-Term Core Plus Municipal Securities Index (UNAP), the PowerShares Insured New York Municipal Bond Portfolio (PZT) will track the BofA ML New York Long-Term Core Plus Municipal Securities Index (UNYP) and the PowerShares Insured California Municipal Bond Portfolio (PWZ) will track the BofA ML California Long-Term Core Plus Municipal Securities Index (UCAP).

Ticker

Former Fund Name New Fund Name Former Index New Index

PZA

PowerShares Insured National Municipal Bond Portfolio PowerShares National AMT-Free Municipal Bond Portfolio BofA ML National Insured Long-Term Core Plus Municipal Securities Index (UPCM) BofA ML National Long-Term Core Plus Municipal Securities Index (UNAP)

PZT

PowerShares Insured New York Municipal Bond Portfolio PowerShares New York AMT-Free Municipal Bond Portfolio BofA ML New York Insured Long-Term Core Plus Municipal Securities Index (UPNY) BofA ML New York Long-Term Core Plus Municipal Securities Index (UNYP)

PWZ

PowerShares Insured California Municipal Bond Portfolio PowerShares California AMT-Free Municipal Bond Portfolio BofA ML California Insured Long-Term Core Plus Municipal Securities Index (UPCC) BofA ML California Long-Term Core Plus Municipal Securities Index (UCAP)

Since 2007, when the PowerShares Insured Municipal Bond Portfolios first listed, the US market for insured municipal bond securities has shrunk by over 40 percent1, making the available supply of insured-municipal securities more limited. The new indexes underlying the PowerShares’ Municipal Bond ETFs include both insured and uninsured municipal bonds. Merrill Lynch, Pierce, Fenner & Smith Incorporated (“BofA Merrill Lynch”) will remain the index provider for each Fund.

To learn more about the changes affecting the PowerShares municipal bond ETFs, please review the funds’ prospectus by clicking here.


  1. Source: Bloomberg, L.P. as of June 30, 2014

PowerShares® is a registered trademark of Invesco PowerShares Capital Management LLC (Invesco PowerShares). Invesco PowerShares and Invesco Distributors, Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.

Invesco Distributors, Inc. is the distributor of the PowerShares Exchange-Traded Fund Trust and the PowerShares Exchange-Traded Fund Trust II.


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