PowerShares Capital Management launched three exchange-traded funds on the American Stock Exchange on Tuesday.
The Wheaton, Ill., company now offers 50 exchange-traded funds on the exchange. The latest are based on equity indexes and are all sector portfolios.
The PowerShares Cleantech Portfolio corresponds its investments with the Cleantech Index of 75 publicly traded companies "engaged in the production of any knowledge-based product or service that improves operation, performance, productivity or efficiency, while reducing costs, inputs, energy consumption, waste, or pollution."
The PowerShares Listed Private Equity Portfolio corresponds with the Red Rocks Listed Private Equity Index of publicly listed private equity companies, including business development companies and others whose principal business is to invest in and lend capital to privately held companies.
The PowerShares WilderHill Progressive Energy Portfolio corresponds its investments with the WilderHill Progressive Energy Index, which is a modified equal-weighted index of companies "engaged in businesses that are believed to stand to benefit from a societal shift toward the transitional energy technologies significant in improving the use of fossil fuels and nuclear power."
