Invesco unveils actively managed real estate ETF

Invesco PowerShares Capital Management LLC of Wheaton, Ill., yesterday launched the first actively managed exchange traded fund to invest in real estate. The PowerShares Active U.S. Real Estate Fund (PSR) seeks to provide high total return by investing in publicly traded U.S. real estate companies, selected using a proprietary stock selection model. The selection methodology seeks to outperform its benchmark, the FTSE NAREIT Equity REITs Index, using quantitative and statistical metrics to identify attractively priced securities and manage risk. The fund will invest primarily in equity real estate investment trusts. Its portfolio holdings will be disclosed daily on the fund’s website. “The PowerShares Active U.S. Real Estate Fund provides investors an innovative new way to access a portfolio of U.S real estate REITs through the investment management expertise of Invesco Real Estate,” Bruce Bond, president and chief executive of Invesco PowerShares, said in a statement. The fund’s expense ratio is anticipated to be 0.80%.