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NYSE Euronext and Invesco PowerShares Capital Management LLC, a leading global provider of exchange-traded funds (ETFs), are to launch the PowerShares NYSE Century Portfolio (NYCC) on NYSE Arca.
NYCC is based on the NYSE Century Index, which includes U.S. companies that have been incorporated for at least 100 years, are listed on a U.S. exchange and have a market capitalization of at least $1 billion.
NYCC is the first fund based on the NYSE Century Index.
“The PowerShares NYSE Century Portfolio invests in household names that have defined the American economy for more than a century,” said Martin L. Flanagan, president and CEO of Invesco. We believe NYCC offers investors targeted exposure to companies that have demonstrated the ability to innovate, transform and grow through decades of varying economic cycles, political conditions and social change.”
“We are very pleased to list the PowerShares NYSE Century Portfolio on NYSE Arca,” said Duncan L. Niederauer, President, ICE and CEO, New York Stock Exchange. “NYCC unlocks the investment potential of the NYSE Century Index, providing investors with exposure to the leadership, stability and sound business execution of the NYSE Century Club, a community of U.S. companies that have demonstrated longevity and contributed to economic and social progress for more than 100 years.”
Launched in 2012, the NYSE Century Index is composed of American companies that have been incorporated in the U.S. for at least 100 years, listed on a U.S. exchange and have a market capitalization of at least $1 Billion. The index’s selection criteria results in a diverse range of companies from mega caps to smaller companies from 10 major sectors. Currently comprised of 372 companies, the NYSE Century Index is equally weighted and rebalanced annually.
