PowerShares shutters funds

Toronto-based PowerShares Canada, a subsidiary of Atlanta-based Invesco Ltd., will terminate PowerShares S&P/TSX Composite High Beta Index ETF and PowerShares S&P 500 High Beta (CAD Hedged) Index ETF, effective on or about April 6. As of March 20, no further direct subscriptions for units of the ETFs will be accepted by PowerShares Canada. Requests for exchanges of units of the ETFs for securities can be placed with PowerShares Canada by eligible investors until March 30. Requests for redemptions of units of the ETFs for cash can be placed by eligible investors until the date of termination. Shortly after termination of the ETFs, PowerShares Canada will distribute the proceeds of the liquidation of each ETF, minus all liabilities and expenses incurred in connection with the termination, if applicable, to the ETFs’ unitholders.

(cohara@investmentexecutive.com).