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Circ re Prospectus Update

22 Sep 2014 07:30

POWERSHARES GLOBAL FUNDS IRELAND PLC - Circ re Prospectus Update

POWERSHARES GLOBAL FUNDS IRELAND PLC - Circ re Prospectus Update

PR Newswire

London, September 19

PowerShares Global Funds Ireland plc (the "Company") 22 September 2014 IE00B23D9240 PowerShares Dynamic US Market UCITS ETF IE0032077012 PowerShares EQQQ NASDAQ-100 UCITS ETF IE00B3BPCH51 PowerShares EuroMTS Cash 3 Months UCITS ETF* IE00B23D9463 PowerShares FTSE RAFI Asia Pacific Ex-Japan UCITS ETF IE00B23D8W74 PowerShares FTSE RAFI Developed 1000 UCITS ETF IE00B23D8Y98 PowerShares FTSE RAFI Europe Mid-Small UCITS ETF IE00B23D9570 PowerShares FTSE RAFI Emerging Markets UCITS ETF IE00B23D8X81 PowerShares FTSE RAFI Europe UCITS ETF IE00B3BPCG45 PowerShares FTSE RAFI Hong Kong China UCITS ETF IE00B23LNP94 PowerShares FTSE RAFI Italy 30 UCITS ETF* IE00B23LNR19 PowerShares FTSE RAFI Switzerland UCITS ETF* IE00B23D8S39 PowerShares FTSE RAFI US 1000 UCITS ETF IE00B3BQ0418 PowerShares Global Agriculture UCITS ETF IE00B23D9133 PowerShares Global Clean Energy UCITS ETF IE00B23D8Z06 PowerShares Global Listed Private Equity UCITS ETF IE00B3BPCJ75 PowerShares Middle East North Africa UCITS ETF* 1 IE00B23D9026 PowerShares Global Water UCITS ETF IE00B23LNN70 PowerShares FTSE RAFI UK 100 UCITS ETF IE00B23LNQ02 PowerShares FTSE RAFI All-World 3000 UCITS ETF *Fund not listed in London 1 This Fund is closed to subscriptions from Investors and the Manager hasapplied to the Central Bank for revocation of its approval (each a "Fund" together the "Funds") To: Shareholders of the Company Dear Shareholder, The purpose of this letter is to notify you of certain changes affecting theCompany and the Funds which are due to take effect on 6 October 2014 (the"Effective Date") and will be reflected in a revised Prospectus and Supplementsto be issued on that date. 1. Amendments to PowerShares FTSE RAFI Europe UCITS ETF (IE00B23D8X81), PowerShares FTSE RAFI Europe Mid-Small UCITS ETF (IE00B23D8Y98), PowerShares FTSE RAFI UK 100 UCITS ETF (IE00B23LNN70), PowerShares FTSE RAFI Switzerland UCITS ETF (IE00B23LNR19) and PowerShares FTSE RAFI Italy 30 UCITS ETF (IE00B23LNP94). The Directors intend, with effect from the Effective Date, to change thesettlement date for in-kind subscriptions and in-kind redemptions for the Fundslisted above. The in-kind settlement date for these Funds will be changed fromthree Business Days to two Business Days following the Business Day on whichthe application for an in-kind subscription or an in-kind redemption wasaccepted. The Directors also intend to amend the settlement date for cash redemptions forthe Funds listed above. The cash redemption settlement date for these Fundswill be changed from three Business Days to two Business Days after therelevant Valuation Date. 2. Amendments to PowerShares EuroMTS Cash 3 Months UCITS ETF (IE00B3BPCH51) The Directors intend, with effect from the Effective Date, to change thesettlement date for in-kind subscriptions and redemptions. The in-kindsettlement date for the EuroMTS Cash 3 Months UCITS ETF will be changed fromone Business Day to two Business Days following the Business Day on which theapplication for an in-kind subscription or an in-kind redemption was accepted. 3. Amendments applicable to PowerShares Dynamic US Market UCITS ETF ( IE00B23D9240), PowerShares Global Water UCITS ETF (IE00B23D9026), PowerShares Global Listed Private Equity UCITS ETF (IE00B23D8Z06), PowerShares Global Clean Energy UCITS ETF (IE00B23D9133), PowerShares Global Agriculture UCITS ETF (IE00B3BQ0418), PowerShares EQQQ NASDAQ-100 UCITS ETF (IE0032077012) only (together the "Net Indices Funds") The Directors intend, with effect from the Effective Date, to change therelevant benchmark indices currently being tracked by the Net Indices Funds.The benchmark indices currently being tracked are gross indices (i.e. gross ofincome and withholding tax). It is proposed that the benchmark indices will bemoved to net indices (i.e. net of income and withholding tax). The indexstrategy and constituents of each benchmark index will remain the same. The change to the benchmark indices will not result in any change to the waythe Net Indices Funds are managed. These changes are being implemented because the Directors believe that theproposed new benchmark indices will be of greater benefit to the Shareholdersof the Net Indices Funds than the existing benchmark indices. The new benchmarkindices increase the accuracy of reporting tracking error as these reflect thetax withholding to which the Funds are subjected. 4. General Amendments to the Prospectus and Supplements, Applicable to all Funds For your information, please note that the Directors intend, with effect fromthe Effective Date, to make a number of general changes to the Company'sProspectus and Supplements: a. the Prospectus will be updated to reflect German tax requirements which will be applicable to Funds which are registered for sale in Germany; b. the Prospectus will be amended to reflect the revised version issued on 1 August 2014 of the requirements of the European Securities and Markets Authority ("ESMA") Guidelines on ETFs and other UCITS Issues dated 18 December 2012 (as amended). This update is reflected in an additional disclosure in relation to the collateral diversification; c. the Prospectus will be amended to clarify the definition of `Transfer Taxes' and therefore of costs which can be charged upon subscriptions and redemptions; d. the Prospectus and Supplements will be amended to include provision to apply Transfer Taxes to cash subscriptions and cash redemptions; and e. the Prospectus will be amended to reflect that redemption proceeds will be paid net of Transfer Taxes. 5. Change to Cash Creation Settlement Date, Applicable to all Funds For your information, please note that the cash creation settlement date forthe Funds will be changed from three Business Days to two Business Days afterthe relevant Valuation Date. This change to settlement dates will not bereflected in the revised Prospectus or Supplements, as these settlement datesfor cash creations are not disclosed. Yours faithfullyDirectorFor and behalf ofPowerShares Global Funds Ireland plc Enquiries Davys +353 1 614 8935 Invesco Asset Management Limited +44 203 753 1020
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