PowerShares Plans Bank Loan ETF
As each week seemingly brings multiple new product launches, the ETF industry’s product pipeline continues to refill. Issuers continue to get creative in their efforts to expand their product lineups, laying the groundwork to launch products not currently available in the ETF wrapper. One of the latest filings to hit the SEC’s desk came from PowerShares, which detailed plans for an S&P Bank Loan Portfolio. The proposed fund would seek to replicate the S&P/LSTA U.S. Leveraged Loan 100 Index, a benchmark designed to track the market-weighted performance of the largest institutional leveraged loans based on market weightings, spreads and interest payments. A leveraged loan is debt that is rated below investment grade quality or is unrated but deemed to be of comparable quality. The index to which the proposed ETF would be linked is a subset of the larger S&P/LTSA Leveraged Loan Index, which includes more than 1,000 securities and has a [...] Click here to read the original article on ETFdb.com. Related Stories: PowerShares Plans Financial ETF Expansion PowerShares, Deutsche Bank Team Up On 3x Leveraged Bond ETNs PowerShares Plans Small Cap Sector ETFs
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