PowerShares is planning to switch seven existing products from its dynamic ETF range to Fundamental Pure Style ETFs, Business Insider reports. The re-branded ETFs will seek to replicate RAFI benchmarks based on methodology, developed by Research Affiliates.
The company will also unveil two new ETFs, including the PowerShares Fundamental Pure Large Growth Portfolio and the PowerShares Fundamental Pure Large Value Portfolio based on the RAFI indices. Following the move, the PowerShares Fundamental Pure Style suite will include nine ETFs, including the Fundamental Pure Large Value Portfolio, the Fundamental Pure Mid Core Portfolio and the Fundamental Pure Small Growth Portfolio.
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