PowerShares Insured New York Municipal Bond Portfolio (PZT)

Fund Description

The investment seeks investment results that correspond (before fees and expenses) generally to the price and yield performance of the The BofA Merrill Lynch New York Insured Long-Term Core Plus Municipal Securities index. The fund generally invests at least 80% of its total assets in insured municipal securities that are exempt from federal income tax, New York State income tax and New York City income tax and that comprise the underlying index. Qualifying securities must have a remaining term of at least 15 years to final maturity. It is non-diversified.