Invesco Canada Ltd. said Tuesday the underlying fund for PowerShares Global Water Class, PowerShares Global Water Portfolio, will replace its index, effective March 1.

As of March 1, the underlying fund will seek investment results that generally correspond (before fees and expenses) to the price and yield of the Nasdaq OMX global water index. The fund currently uses the Palisades global water index as its benchmark.

The Nasdaq OMX global water index is created by Nasdaq OMX Group, Inc. It is designed to track the performance of companies creating products that conserve and purify water for homes, businesses and industries.