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The PowerShares Listed Equity Private Equity Portfolio (NYSEArca: PSP) got an extensive makeover yesterday as it transitioned from a domestic to a global portfolio. Renamed the PowerShares Global Listed Private Equity Portfolio, but still trading under the ticker PSP, it now covers a portfolio of 40 to 60 private equity companies from around the world.
According to Red Rocks Capital LLC, the index provider, the portfolio provides exposure to more than 1,000 privately held companies.
The U.S. has the largest weighting in the portfolio, at 36.73%, followed by the United Kingdom at 13.32%, France at 9.48%, Sweden at 8.25% and the Netherlands at 7.11%. The top companies are HAL Trust (5.95%), 3i Group PLC (5.31%), Leucadia National Corp. (5.07%), Ratos AB (4.72%) and Eurazeo (4.64%). The day after its relaunch, PSP had 58 holdings.
It continues to charge an expense ratio of 0.60%.
Read PSP’s prospectus here.
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