New Invesco Treasury Collateral ETF
A press release entitled, "Invesco Launches Treasury Collateral Portfolio (CLTL), Leveraging the Efficient ETF Structure to Create a Collateral Pledge Solution for Institutions," tells us, "Invesco, a leading global provider of exchange-traded funds (ETFs), announced today the launch of PowerShares Treasury Collateral Portfolio (NYSE: CLTL) as an ETF designed to track the price and yield of the ICE US Treasury Short Bond Index, a market value weighted index that includes US dollar denominated, fixed and floating rate securities with minimum term to maturity greater than one month and less than or equal to one year in the US Treasury market." (See also ETF Trends' "PowerShares Launches Ultra-Short-Term Bond ETF, Cash Alternative" and our July 1, 2016 Link of the Day, "Invesco ETF of Govt MMFs.) The Invesco release continues, "PowerShares CLTL is an ETF solution designed for institutional and retail clients. On the institutional side, the ETF may offer an alternative to clients who need to post collateral to meet margin requirements or non-margin collateral. For retail clients, CLTL provides a convenient, low cost option to access safe haven instruments such as US Treasuries with ultra-short duration." Dan Draper, Global Head of PowerShares by Invesco, comments, "As an ETF leader, we're always looking for new solutions to help institutional and retail clients navigate the evolving macro and regulatory environment. Money market reform will have an impact on US investors going forward, so we're introducing this Treasury collateral ETF to help ease certain challenges on deck for our clients." The release adds, "CLTL's portfolio will also be managed by Invesco's Global Liquidity Group, which consists of 16 investment professionals and over $80 billion in AUM."
