Effective 11 March 2011, 38 PowerShares ETFs have been cross-listed on the international segment of Bolsa Mexicana de Valores (BMV), adding to 10 existing products that were trading in Mexico before these new cross-listings.
Invesco PowerShares managing director of global ETFs Ben Fulton said that they believe there will be strong demand from investors for the innovative family of peso-denominated ETFs that provide efficient access to a wide selection of global opportunities.
Invesco PowerShares senior product manager Bryon Lake said that with the addition of these new cross-listings, Invesco PowerShares is now the second largest provider of ETFs in Mexico by number of funds.
Invesco PowerShares appointed local divisions of Deutsche Bank and JP Morgan as sponsoring brokers to cross-list the ETFs on the BMV.
The ETFs trade through Mexican Depository Receipts denominated in pesos and the sponsoring brokers service all corporate actions including disseminating shareholder information in the Mexican market.
In addition, the sponsoring brokers have dedicated representatives available in Mexico to provide local expertise and guidance to investors.
