PowerShares to List 4 New ETFs With KBW Indexes

Invesco's IVZ PowerShares unit, the fourth-largest U.S. ETF issuer, announced it introduce four new ETFs linked to KBW indexes. The KBW indexes were previously used by State Street Global Advisors (SSgA), the second-largest U.S. ETF issuer. As Benzinga reported earlier today, SSgA dropped KBW indexes on five of its ETFs in favor of Standard & Poor's indexes. The PowerShares KBW Bank Portfolio will trade under the ticker “KBWB” and be based on the KBW Bank Index while the PowerShares KBW Regional Banking Portfolio will trade under the ticker “KBWR” and be based on the KBW Regional Banking Index. PowerShares will also introduce the KBW Capital Markets Portfolio under the ticker “KBWC.” That ETF will track the KBW Capital Markets Index. The The PowerShares KBW Insurance Portfolio will trade with the ticker “KBWI” and track the KBW Insurance Index. PowerShares expects the new funds to begin trading on Tuesday Nov. 1, 2011. The firm had 116 ETFs with $38.9 billion in assets under management at the end of September, according to data from the National Stock Exchange.