RICHMOND, Va., June 30 /PRNewswire/ -- Invesco PowerShares, a leading provider of exchange-traded funds, has announced the appointment of RiverFront Investment Group, LLC as index provider for two tactical, global allocation funds.
Effective today, RiverFront will become the index provider for the PowerShares RiverFront Tactical Balanced Growth Fund (NYSE Arca: PAO) and the PowerShares RiverFront Tactical Growth & Income Fund (NYSE Arca: PCA). RiverFront uses a proprietary Price Matters(SM) optimization process to provide tactical global asset allocation portfolios.
"We have enjoyed an exceptionally strong relationship with Invesco PowerShares over the years and we are proud to be selected as an index solution for their products," said Michael Jones, RiverFront Chairman and Chief Investment Officer. "This appointment gives us another opportunity to strengthen our partnership in a tangible way. Their client-centric culture, product development expertise, and strong distribution relationships set the highest standards for our industry."
About RiverFront Investment Group
RiverFront Investment Group, LLC is an independent SEC-registered investment advisor located in Richmond Virginia. Majority owned by its employees, the firm provides asset management, investment advice, and leading edge market insights. RiverFront's minority investors include Robert W. Baird & Co. (Baird) and Private Advisors, LLC. For more information, please visit RiverFront's Web site at www.riverfrontig.com
About Invesco PowerShares
Invesco PowerShares Capital Management LLC is Leading the Intelligent ETF Revolution® through its family of more than 120 domestic and international exchange-traded funds, which seek to outperform traditional benchmark indexes while providing advisors and investors access to an innovative array of focused investment opportunities. With franchise assets over $47 billion as of March 31, 2010, PowerShares ETFs trade on both U.S. stock exchanges. For more information, please visit us at www.invescopowershares.com
SOURCE Riverfront Investment Group, LLC