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The PowerShares International BuyBack Achievers Portfolio (IPKW) has gone live on Nasdaq.
This latest exchange-traded fund (ETF) from Invesco PowerShares provides investors with efficient access to a portfolio of international companies classified as “BuyBack Achievers”.
BuyBack Achievers are companies that have effected a net reduction of 5% or more of their outstanding shares in their most recent fiscal year, and have met additional criteria in accordance with the guidelines and mandated procedures of the Nasdaq OMX Group, the underlying index provider.
“The buyback methodology is generally more tax-efficient relative to dividend payments and may provide investors enhanced total shareholder return,” said Lorraine Wang, Invesco PowerShares global head of ETF products and research. “The merits of the BuyBack Achievers methodology, and more broadly smart beta, are demonstrated in our US-focused flagship product PowerShares BuyBack Achievers (PKW), so we are excited to provide investors a way to participate in global opportunities as well.”
The new ETF is based on the Nasdaq International BuyBack Achievers Index.
The fund is rebalanced quarterly in January, April, July and October and has an expense ratio of 0.55%.