New ETF On The Block: Powershares Fundamental Emerging Markets Local Debt Portfolio (PFEM)

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PowerShares, the Wheaton, Il-based exchange traded fund issuing arm of Invesco Ltd, has launched the PowerShares Fundamental Emerging Markets Local debt Portfolio (PFEM). The fund employs a fundamental strategy instead of the more traditional market capitalization weighted approach, and is linked to Rob Arnott’s Research Affiliates’ fundamental indexing methodology. PFEM will passively track the underlying index, but the benchmark is …