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Update: Invesco PowerShares Announces Name Change for PowerShares NextQ Portfolio
CHICAGO, IL--(Marketwire - October 20, 2008) - Invesco PowerShares Capital Management LLC, a
leading provider of exchange-traded funds (ETFs), announced today that the
PowerShares NextQ Portfolio (PNXQ) has changed its name to the PowerShares
NXQ Portfolio. The PowerShares NXQ Portfolio will continue to be offered on
the Nasdaq Stock Market under the existing ticker symbol (PNXQ). The
investment objectives and fee structure will remain unchanged.
Known as "the PNXQ" to many market participants, "this name change
highlights the ticker symbol identification and will allow for synergies in
positioning the fund as a complement to the PowerShares QQQ (ticker: QQQQ),
which is based on the Nasdaq-100 Index," said Bruce Bond, President and CEO
of Invesco PowerShares Capital Management LLC.
The PowerShares NASDAQ NextQ Portfolio (PNXQ), launched in April 2008 on
the Nasdaq Stock Market, is based on the NASDAQ Q-50 Index(SM). The Index
is designed to track the performance of the 50 securities that are next in
line to replace the securities currently included in the NASDAQ-100
Index®. The index reflects companies across major, non-financial industry
groups including computer hardware and software, telecommunications,
retail/wholesale trade and biotechnology, and is adjusted quarterly.
Invesco PowerShares is leading the intelligent ETF revolution through its
family of more than 100 domestic and international index-based and actively
managed exchange-traded funds. With assets under management as of June 30,
2008, of $13.95 billion, PowerShares ETFs trade on all of the major U.S.
stock exchanges that trade ETFs. For more information, please visit us at
www.invescopowershares.com.
Invesco PowerShares is a part of Invesco Ltd., a leading independent global
investment management company dedicated to helping people worldwide build
their financial security. By delivering the combined power of its
distinctive worldwide investment management capabilities, including AIM,
Atlantic Trust, Invesco, Perpetual, PowerShares, Trimark, and WL Ross,
Invesco provides a comprehensive array of enduring investment solutions for
retail, institutional and high-net-worth clients around the world.
Operating in 20 countries, the company is currently listed on the New York
Stock Exchange under the symbol IVZ. Additional information is available at
www.invesco.com.
Important Risk Information
There are risks involved with investing in ETFs including possible loss of
money. Shares are not actively managed and are subject to risk similar to
stocks, including those related to short selling and margin maintenance.
Ordinary brokerage commissions apply.
Shares are subject to risks including: Small and Medium-Sized Company Risk
- Investing in securities of small and medium-sized companies involves
greater risk than is customarily associated with investing in more
established companies.
The Fund's potential investment in non-U.S. issuers, although limited to
ADRs, may involve unique risks compared to investing in securities of U.S.
issuers. Additionally, the Fund's potential investment in securities of
real estate companies involves risks
Please see the prospectus for more complete risk information.
Shares are not FDIC insured, may lose value and have no bank guarantee.
The PowerShares NASDAQ NextQ Portfolio is not sponsored, endorsed, sold or
promoted by The Nasdaq Stock Market, Inc. or its affiliates (Nasdaq, with
its affiliates, are referred to as the "Corporations"). The Corporations
have not passed on the legality or suitability of, or the accuracy or
adequacy of, descriptions and disclosures relating to the PowerShares
NASDAQ NextQ Portfolio. The Corporations make no representation or
warranty, express or implied, to the owners of the PowerShares NASDAQ NextQ
Portfolio or any member of the public regarding the advisability of
investing in securities generally or in the PowerShares NASDAQ NextQ
Portfolio particularly, or the ability of the NASDAQ Q-50 Index(SM) to
track general stock market performance. The Corporations' only relationship
to the Adviser is in the licensing of the NASDAQ® and NASDAQ Q-50
Index(SM) trade/service marks and certain trade names of the Corporations,
and the use of the NASDAQ Q-50 Index(SM), which is determined, composed and
calculated by Nasdaq without regard to the Adviser or the PowerShares
NASDAQ NextQ Portfolio.
The sponsor of the Nasdaq-100 Trust(SM), a unit investment trust, is
Invesco PowerShares Capital Management LLC ("Invesco PowerShares"). NASDAQ,
NASDAQ-100 Index, NASDAQ-100 Index Tracking Stock and QQQ are trade/service
marks of The Nasdaq Stock Market, Inc. and have been licensed for use by
Invesco PowerShares Capital Management LLC, QQQ's sponsor. NASDAQ makes no
representation regarding the advisability of investing in QQQ and makes no
warranty and bears no liability with respect to QQQ, the NASDAQ-100 Index,
its use or any data included therein.
Invesco Aim Distributors, Inc. is the distributor of the PowerShares
Exchange-Traded Fund Trust. ALPS Distributors, Inc. is distributor for QQQ.
The PowerShares QQQ is a Unit Investment Trust (UIT)
Invesco PowerShares Capital Management LLC is not affiliated with ALPS
Distributors, Inc.
Invesco PowerShares Capital Management LLC and Invesco Aim Distributors,
Inc. are indirect, wholly owned subsidiaries of Invesco Ltd.
Shares are not FDIC insured, may lose value and have no bank guarantee.
Shares may be sold throughout the day on the exchange through any brokerage
account. Shares may only be redeemed directly from the Portfolio by
Authorized Participants in large blocks typically consisting of 100,000
Shares.
An investor should consider the Funds' investment objective, risks, charges
and expenses carefully before investing. For a copy of the prospectus,
which contains this and other information about the Funds, call
800.983.0903. Please read the prospectus carefully before investing.