PowerShares Gets SEC Nod for ETFs

Published March 03, 2008, 2:00 a.m. EST

Updated February 29, 2008, 3:37 p.m. EST

1 Min Read

PowerShares Capital Management LLC is the first exchange-traded fund provider to receive Securities and Exchange Commission approval to offer actively managed exchange-traded funds.

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The Chicago asset manager, a unit of Invesco Ltd., announced Thursday that it plans to begin offering four actively managed exchange-traded funds.

The funds will provide investors with access to active management in an exchange-traded fund structure. Two of the funds will be subadvised by Invesco Institutional Inc. and two will be subadvised by AER Advisors Inc.

PowerShares has $35 billion of ETF assets under management.

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