October is the target month PowerShares Capital Management has declared for the launch of at least 15 new exchange traded funds (ETFs). If these 15 new ETFs hit the market by then, they will add up to $5 billion to PowerShares total assets before year-end, according to Muralikumar Anantharaman for Reuters. Currently, PowerShares has about $14 billion in assets, up from $8.5 billion from the end of last year.
The purpose of these ETFs is to widen PowerShares’ product range to boost its share of inflows in a market already dominated by industry giants such as Barclays Global Investors and State Street Global Investors. PowerShares will focus on a fixed-income ETF, expansion of its international lineup and target smaller firms outside the U.S. in its strategies. PowerShares already has launched 25 ETFs this year, bringing its total number of ETFs to 95.