Invesco PowerShares has launched the PowerShares Securities Portfolio ETF, Index Universe reports. The fund, which comprises U.S.-listed investment-grade and noninvestment-grade convertible securities, is designed to provide risk-adjusted performance and income.

The portfolio, which is expected to issue monthly distributions, will track the performance of the BofA Merrill Lynch All U.S. Convertibles Index. The index’s top holdings include Amgen, General Motors, United Continental and Microchip Technology.

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