PowerShares ETF goes nuclear

In response to escalating oil and gas costs, PowerShares Capital Management LLC is planning to launch a global nuclear energy exchange traded fund. It will debut on the New York Stock Exchange Arca on April 3. PowerShares Global Nuclear Energy Portfolio (PKN) is based on the WNA Nuclear Energy IndexSM, and is designed to track the overall performance of globally traded companies that are engaged in the nuclear energy industry. The new portfolio is being formed by the PowerShares, a subsidiary of Invesco Ltd., to combat the sky-high energy prices that have plagued the United States of late, according to Bruce Bond, president and chief executive officer of the Chicago-based company. "We believe higher oil prices, rising standards of living, and demand for cleaner sources of energy are favorable trends powering worldwide growth for the nuclear energy industry,” said Mr. Bond.