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Lux Research Partners With PowerShares to Launch First Nanotech
Exchange-Traded Fund
CAMBRIDGE, Mass., Oct. 24 /PRNewswire/ -- Lux Research, the world's leading
research and advisory firm for nanotechnology, today announced a partnership
with PowerShares to introduce the PowerShares Lux Nanotech Portfolio, the
first nanotechnology Exchange-Traded Fund (ETF). The trading symbol for the
PowerShares Lux Nanotech Portfolio will be AMEX: PXN, and trading is
anticipated to begin October 26, 2005 on the American Stock Exchange. The
announcement was made today during opening remarks at the Lux Executive
Summit (www.luxexecutivesummit.com), nanotech's most elite gathering for
CEOs, senior corporate executives, fund managers and VCs, scientific
pioneers, and public policy makers.
The PowerShares Lux Nanotech Portfolio is designed to track the Lux Nanotech
Index(TM), which includes 26 public companies involved in developing,
manufacturing, and funding nanotechnology applications. The Lux Nanotech
Index(TM) is based on Lux Research's analytical frameworks and is rebalanced
and reconstituted quarterly.
"The Lux Nanotech Index(TM) is designed to serve as a benchmark for the
value that markets ascribe to emerging nanotechnology," said Peter Hebert,
CEO of Lux Research. "We're proud to have a partner like PowerShares to
bring the rigorous methodologies underlying the Lux Nanotech Index(TM) to
investors seeking exposure to nanotechnology's secular growth opportunity."
"The Lux Nanotech Portfolio is the world's first nanotech ETF, and it
represents the first opportunity for many investors to obtain diversified
exposure to this exciting segment of the market," said Bruce Bond, President
of PowerShares Capital Management. "We are delighted to have Lux Research,
the leading independent provider of nanotechnology research, as a partner on
such an important initiative."
About Lux Research:
Lux Research is the world's leading nanotechnology research and advisory
firm. We help our clients make better decisions to profit from nanoscale
science and technology, tapping into our analysts' unique expertise and
unrivaled network. Our clients include top decision makers at large
corporations, portfolio managers and analysts at leading financial
institutions, CEOs of the most innovative start-ups, and visionary public
policy makers. To get connected and for more information, visit
www.luxresearchinc.com.
About PowerShares Capital Management LLC:
PowerShares Capital Management, LLC provides institutional caliber asset
management and market exposure through the replication of enhanced indexes.
PowerShares delivers this sophisticated asset management in one of the more
benefit rich investment vehicles available today, the exchange traded fund.
The firm is committed to theoretically sound portfolio construction and
empirically verifiable investment management approaches. PowerShares' asset
management philosophy and investment discipline are deeply rooted in the
application of intuitive factor analysis and model implementation to enhance
investment decisions.
www.powershares.com
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