Invesco PowerShares has renamed its planned bank-loan ETF, PowerShares S&P Bank Loan Portfolio, Index Universe reports. The fund, rebranded as PowerShares Senior Loan Portfolio, will be listed on the New York Stock Exchange’s electronic platform, Arca. The vehicle will track the performance of the S&P/LSTA U.S. Leveraged Loan 100 Index and seek to invest in senior loans, including leveraged, bank or floating rate loans. A small portion of the fund may also be allocated to closed-end funds that invest in senior loans and junk bonds.
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