PowerShares New York AMT-Free Municipal Bond Portfolio ETF
 (PZT)

- NYSEARCA
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PZT Description
The PowerShares New York AMT-Free Municipal Bond Portfolio (Fund) is based on The BofA Merrill Lynch New York Long-Term Core Plus Municipal Securities Index (Index). The Fund generally will invest at least 80% of its total assets in municipal securities that comprise the Index and that also are exempt from the federal alternative minimum tax. The Index is composed of US dollar-denominated, investment grade, tax-exempt debt publicly issued by New York or any US territory, or their political subdivisions, in the US domestic market with a term of at least 15 years remaining to final maturity. The Index is adjusted monthly and its constituents are capitalization-weighted based on their current amount outstanding. The Fund and the Index are rebalanced and reconstituted monthly.
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Country: United States
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