Nasdaq’s Global Buyback Achievers™ Index is the basis for InvescoPowershares’ most recent ETF launch – the PowerShares Global Buyback Achievers UCITS ETF (symbol: BUYB). This marks the first product based on the successful Nasdaq Buyback AchieversTM Index family to launch in the UK and Europe.
“Nasdaq is proud to team with InvescoPowershares again to launch a product based on one of our most successful franchises,” said Rob Hughes, head of Index Services at Nasdaq. “Smart Beta indexes, and products linked to them, have provided more opportunities for investors to manage risk and diversify their portfolios. The Buyback concept has proven successful in identifying companies that have - through the use of share buybacks - delivered increased shareholder value and outperformance over the broader market.”
The launch is the latest example of continued innovation around the Nasdaq Buyback Achievers family. In May, InvescoPowershares launched the international version of this Index as an ETF in the US, The Powershares Nasdaq International Buyback Achievers Index ETF (symbol: IPKW).
The Nasdaq Global Buyback Achievers™ Index is comprised of securities from the Nasdaq US Buyback Achievers™ Index and the Nasdaq International BuyBack Achievers™ Index. The Nasdaq US Buyback Achievers Index is comprised of corporations that have effected a net reduction in shares outstanding of 5% or more in the trailing twelve months and the Nasdaq International BuyBack Achievers Index is comprised of corporations that have effected a net reduction in shares outstanding of 5% or more in its latest fiscal year. The Index began on August 11, 2014 at a base value of 1,000.00.
For more information, contact Rob Hughes, Nasdaq Global Indexes, +1 212 231 5836.