PowerShares Capital Management LLC, a Chicago exchange-traded fund company, has announced plans to start a PowerShares India Portfolio.
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The new exchange-traded fund, which should begin trading this month, will offer exposure to India's local equities, the company said Tuesday.
The fund is based on the Indus India Index compiled by Indus Advisors LLC. The index is designed to track the performance of the Indian equity markets as a whole, with representation from information technology, health sciences, financial services, heavy industry, and consumer products stocks.
PowerShares manages $35 billion of assets. It is a unit of Invesco Ltd., an Atlanta money manager with $462.6 billion of assets under management.
