Invesco PowerShares is withdrawing plans for six ETFs in registration with the SEC, reports IndexUniverse. The firm's explanation is really a nonexplanation: They've simply "determined not to proceed with the registration," according to the filing.
Here are the six funds that will never be: PowerShares Dynamic Brand Name Products Portfolio, PowerShares REIT Preferred Portfolio, PowerShares Value Line 400 Portfolio, PowerShares Autonomic Allocation Research Affiliates Portfolio, PowerShares India Tiger Portfolio, and PowerShares NASDAQ Dividend Achievers Portfolio.
The names aren't too snappy. I like the sound of the India Tiger ETF, but Autonomic Allocation Research Affiliates? I doubt that would fly with investors. It turns out, PowerShares already has a fund covering the Indian market, reports IndexUniverse.
of @ Aug 22, 2008 12:16:22 PM