Money manager Invesco, whose exchange traded fund (ETF) unit is PowerShares, reports higher assets under management and the resulting fees helped boost its quarterly profits 42% from the previous year. International equities, fixed-income and money market performances were also strong, reports Murray Coleman and John Spence for MarketWatch.
Strong flows and performance are part of PowerShares’ success story. In June, 18 new ETFs were introduced into the market. Interest in these ETFs are up because of their transparency and high liquidity characteristics. As enhanced indexing becomes more familiar, PowerShares should be well-positioned to ride that trend.
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