Invesco makes foray into Frontier Countries

The new ETF is designed to provide access to certain equity markets in the Middle East and North Africa.
JUL 09, 2008
The PowerShares MENA Frontier Countries Portfolio (PMNA) exchange traded fund, from Chicago-based Invesco PowerShares made its trading debut on the Nasdaq Composite Index today. The ETF is designed to provide access to certain equity markets in the Middle East and North Africa. It will seek to replicate an index that takes into account certain foreign-ownership limitations encountered when investing in certain countries in those areas, Bruce Bond, president and chief executive of Invesco PowerShares, said in a statement. The ETF is based on the Nasdaq OMX Middle East North Africa Index and includes securities in Egypt, Morocco, Oman, Lebanon, Jordan, Kuwait, Bahrain, Qatar and United Arab Emirates. At noon, trading on the ETF was down 0.58 cents per share, or 2.29%. Invesco PowerShares is a subsidiary of Atlanta-based Invesco Ltd.

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