AMONG THE 40 exchange-traded funds that PowerShares Capital Management has registered to launch, perhaps the most intriguing is a private-equity ETF. Expected to debut sometime in October, the PowerShares Listed Private Equity Portfolio ETF will track the Listed Private Equity Index, a new benchmark of about 30 publicly traded companies that invest in private equity. PowerShares currently has 37 ETFs on the market.
The American Stock Exchange expects to start calculating and publishing the Listed Private Equity Index by the end of September, and PowerShares expects to launch the ETF next month. Because the index isn't yet published, Red Rocks can't comment on its initial components. Stocks that seem likely to make the cut include Apollo Investment (AINV: 20.77, +0.23, +1.1%), KKR Financial (KFN: 24.95, +0.10, +0.4%), Gladstone Capital (GLAD: 22.03, -0.16, -0.7%) and Allied Capital (ALD: 30.54, -0.30, -1.0%). Most of these companies are affiliated with private-equity firms and make loans to private companies. |
