One of the cornerstone’s of PKW, holding companies that have effected a net reduction of 5% or more of their outstanding shares in the past 12 months, has proven popular enough for PowerShares to have launched a global equivalent. The PowerShares International BuyBack Achievers Portfolio (NasdaqGS: IPKW) debuted in late February and already has $10 million in assets.[International Buyback ETF Debuts]
Importantly, slowdowns in buyback activity do not hamper PKW’s performance. For example, repurchase authorizations in 2009 and 2012 were lower than in 2008 and 2011, according to the Birinyo data cited by the Journal, but PKW posted an average gain of 22.5% in 2009 and 2012.
PowerShares Buyback Achievers Portfolio
