Last checked at 5 Jan 2010 09:00
STOCK EXCHANGE ANNOUNCEMENT
For Immediate Release 5 January, 2010
PowerShares Global Funds Ireland plc PowerShares Dynamic Europe Fund PowerShares Dynamic Global Developed Markets Fund PowerShares Dynamic Japan Fund PowerShares Dynamic UK Fund PowerShares Dynamic Italy Fund (the "Dynamic Sub-Funds")
Re: Results of Meeting of Shareholders of the Dynamic Sub-Funds
The Directors of PowerShares Global Funds Ireland plc (the "Company") wish to announce that, the resolutions regarding the Company were approved by the shareholders at the meetings held on 4 January, 2010:
With effect from 1 February, 2010, the investment policy and objectives of each of the Dynamic Sub-Funds will be amended by the substitution of new benchmark indices in place of the existing benchmark indices as follows:
Dynamic Sub-Fund: New benchmark indices: PowerShares Dynamic Europe Fund FTSE RAFI Emerging Markets Index
PowerShares Dynamic Global Developed FTSE RAFI Asia Pacific Ex-Japan Index Markets Fund
PowerShares Dynamic Japan Fund FTSE RAFI Hong Kong China Index PowerShares Dynamic UK Fund FTSE RAFI All-World 3000 Index PowerShares Dynamic Italy Fund FTSE RAFI Switzerland Index
With effect from 1 February, 2010, the maximum fees charged by Invesco PowerShares Capital Management Ireland Limited (the "Manager) will be increased as set out below for certain of the Dynamic Sub-Funds:
Dynamic Sub-Fund: Current fee: New fee: PowerShares Dynamic Europe Fund 0.75% per annum 0.85% per annum
PowerShares Dynamic Global Developed 0.75% per annum 0.8% per annum Markets Fund
The Directors of the Company also wish to announce that with effect from 1 February, 2010, the names of each of the Dynamic Sub-Funds will be re-named as follows:
From: To: PowerShares Dynamic Europe Fund PowerShares FTSE RAFI Emerging Markets Fund
ISIN: IEOOB23D9570 PowerShares Dynamic Global PowerShares FTSE RAFI Asia Pacific Ex-Japan Developed Markets Fund Fund ISIN: IEOOB23D9463
PowerShares Dynamic Japan Fund PowerShares FTSE RAFI Hong Kong China Fund
ISIN: IEOOB3BPCG45 PowerShares Dynamic UK Fund PowerShares FTSE RAFI All-World 3000 Fund ISIN: IEOOB23LNQ02
PowerShares Dynamic Italy Fund PowerShares FTSE RAFI Switzerland Fund
ISIN: IEOOB23LNR19
Transition Period:
The transition process, for implementing the above changes, will commence on Friday 29 January, 2010. Shareholders of the Dynamic Sub-Funds at that time will be aware of this transition. However, to ensure that any new or potential investors, unaware of the proposal, are not affected, the Directors wish to announce that no subscriptions will be accepted during the period from Tuesday 26 January, 2010 to Tuesday 2 February, 2010. Normal trading will recommence on Wednesday 3 February, 2010.
Redemption or Switching:
The Directors would like to direct existing shareholders of the Dynamic Sub-Funds, who do not wish to remain as shareholders when the above changes take effect on 1 February, 2010, to the sections headed "Redemption" or "Switching" of the current prospectus and relevant fund supplements.
Enquiries:William Fry Michelle McGrath +353 1 639 5000 Invesco Asset Management Tim Mitchell 020 7065 3555
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