PowerShares launches Frontier Countries ETF on Nasdaq

Invesco PowerShares has launched its frontier countries ETF, designed to offer access to particular equity markets in the Middle East and North Africa, on the Nasdaq stock exchange.

The PowerShares MENA Frontier Countries Portfolio is based on the Nasdaq OMX Middle East North Africa index. The index is designed to measure the performance of the largest and most liquid securities of companies in Middle Eastern and North African countries that have smaller economies or less developed capital markets than the traditional emerging markets. At present, the index comprises companies domiciled in Egypt, Morocco, Oman, Lebanon, Jordan, Kuwait, Bahrain, Qatar, United Arab Emirates