0001104659-13-044920.txt : 20130528 0001104659-13-044920.hdr.sgml : 20130527 20130528125626 ACCESSION NUMBER: 0001104659-13-044920 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130528 DATE AS OF CHANGE: 20130528 EFFECTIVENESS DATE: 20130528 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PowerShares Exchange-Traded Fund Trust II CENTRAL INDEX KEY: 0001378872 IRS NUMBER: 000000000 FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-138490 FILM NUMBER: 13874260 BUSINESS ADDRESS: STREET 1: 301 West Roosevelt Road CITY: Wheaton STATE: IL ZIP: 60187 BUSINESS PHONE: 800-983-0903 MAIL ADDRESS: STREET 1: 301 West Roosevelt Road CITY: Wheaton STATE: IL ZIP: 60187 FORMER COMPANY: FORMER CONFORMED NAME: PowerShares Global Exchange-Traded Fund Trust DATE OF NAME CHANGE: 20061023 0001378872 S000038518 PowerShares Fundamental Emerging Markets Local Debt Portfolio C000118889 PowerShares Fundamental Emerging Markets Local Debt Portfolio 497 1 a12-16978_8497.htm 497

 

PowerShares Exchange-Traded Fund Trust II

301 West Roosevelt Road

Wheaton, IL 60187

 

May 28, 2013

 

BY EDGAR

 

Securities and Exchange Commission

100 F Street NE

Washington DC 20549

 

Ladies and Gentlemen:

 

PowerShares Exchange-Traded Fund Trust II

1933 Act Registration No. 333-138490

1940 Act Registration No. 811-21977

 

On behalf of PowerShares Exchange-Traded Fund Trust II, we are transmitting for electronic filing under the Securities Act of 1933, as amended, and Rule 497(e) thereunder, and the Investment Company Act of 1940, as amended, exhibits containing XBRL interactive data format risk/return summary information that mirrors the risk/return summary information contained in the prospectus, dated May 1, 2013, relating to the PowerShares Fundamental Emerging Markets Local Debt Portfolio, as supplemented May 9, 2013, and filed pursuant to Rule 497(e) under the Securities Act of 1933, as amended.

 

The purpose of this filing is to submit the data in eXtensible Business Reporting Language format for the PowerShares Fundamental Emerging Markets Local Debt Portfolio.

 

Very truly yours,

 

 

 

POWERSHARES EXCHANGE-TRADED FUND TRUST II

 

 

 

/s/ Anna Paglia

 

Anna Paglia

 

Secretary

 

 


EX-101.INS 2 ck0001378872-20130509.xml XBRL INSTANCE DOCUMENT 0001378872 2013-05-09 2013-05-09 0001378872 ck0001378872:S000038518Member 2013-05-09 2013-05-09 0001378872 ck0001378872:S000038518Member ck0001378872:C000118889Member 2013-05-09 2013-05-09 iso4217:USD xbrli:pure "Other Expenses" are based on estimated amounts for the current fiscal year. PowerShares Exchange-Traded Fund Trust II 497 false 0001378872 2013-05-09 2013-05-09 2013-05-09 2013-05-01 PowerShares Fundamental Emerging Markets Local Debt Portfolio Example <p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;">This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.</font> </p> <br/><p align="left" style="margin:0pt 0pt 4pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;">This example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. This example does not include the brokerage commissions that investors may pay to buy and sell Shares.</font></p> 51 160 ~ http://powershares.com/20130509/role/ScheduleExpenseExampleTransposed20002 column dei_LegalEntityAxis compact ck0001378872_S000038518Member row primary compact * ~ Although your actual costs may be higher or lower, your costs, based on these assumptions, would be: Fund Fees and Expenses <p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;">This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund ("Shares"). Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below.</font> </p> 0.0050 0.0000 0.0050 ~ http://powershares.com/20130509/role/ScheduleAnnualFundOperatingExpenses20001 column dei_LegalEntityAxis compact ck0001378872_S000038518Member row primary compact * ~ Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) "Other Expenses" are based on estimated amounts for the current fiscal year. Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below. Performance <p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;">As of the date of this Prospectus, the Fund has not commenced operations and therefore does not have a performance history. Once available, the Fund's performance information will be accessible on the Fund's website at www.invescopowershares.com and will provide some indication of the risks of investing in the Fund.</font> </p> As of the date of this Prospectus, the Fund has not commenced operations and therefore does not have a performance history. Once available, the Fund's performance information will be accessible on the Fund's website at www.invescopowershares.com and will provide some indication of the risks of investing in the Fund. www.invescopowershares.com Principal Risks of Investing in the Fund <p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;">The following summarizes the principal risks of the Fund.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Fixed-Income Securities Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Fixed-income securities are subject to interest rate risk and credit risk. Interest rate risk refers to fluctuations in the value of a fixed-income security resulting from changes in the general level of interest rates. When the general level of interest rates goes up, the prices of most fixed-income securities go down. When the general level of interest rates goes down, the prices of most fixed-income securities go up. Fixed-income securities with longer maturities typically are more sensitive to changes in interest rates, making them more volatile than securities with shorter maturities. Credit risk refers to the possibility that the issuer of a security will be unable and/or unwilling to make timely interest payments and/or repay the principal on its debt. Debt instruments are subject to varying degrees of credit risk, which may be reflected in credit ratings. There is a possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Sovereign Debt Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Risks of sovereign debt include the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, and the government debtor's policy towards the International Monetary Fund and the political constraints to which a government debtor may be subject. The governmental authority that controls the repayment of sovereign debt may be unwilling or unable to repay the principal and/or interest when due in accordance with the terms of such securities due to the extent of its foreign reserves. If an issuer of sovereign debt defaults on payments of principal and/or interest, the Fund may have limited legal recourse against the issuer and/or guarantor. In certain cases, remedies must be pursued in the courts of the defaulting party itself, and the Fund's ability to obtain recourse may be limited.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Emerging Markets Sovereign Debt Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Government obligors in emerging market countries are among the world's largest debtors to commercial banks, other governments, international financial organizations and other financial institutions. Historically, certain issuers of the government debt securities in which the Fund may invest have experienced substantial difficulties in meeting their external debt obligations, resulting in defaults on certain obligations and the restructuring of certain indebtedness. Such restructuring arrangements have included obtaining additional credit to finance outstanding obligations and the reduction and rescheduling of payments of interest and principal through the negotiation of new or amended credit agreements.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Currency Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund invests in the bonds of governments located in emerging market countries and much of the income received by the Fund will be in foreign currencies. Because the Fund's net asset value ("NAV") is determined in U.S. dollars, the Fund's NAV could decline if the currency of the non-U.S. markets in which the Fund invests depreciate against the U.S. dollar, even if the value of the Fund's holdings, measured in the foreign currencies, increases.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Non-Investment Grade Securities Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund may invest in securities that are rated below investment grade (i.e., securities rated below "BBB" by S&amp;P or "Baa" by Moody's); however, the Fund will invest at least 80% of its total assets in bonds issued by national governments of countries that have a domestic sovereign debt rating of at least "CC" by S&amp;P and "Ca" by Moody's. Non-investment grade securities and unrated securities of comparable credit quality are subject to the increased risk of an issuer's inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as interest rate sensitivity, negative perceptions of the non-investment grade securities markets generally, real or perceived adverse economic conditions and less secondary market liquidity. If the issuer of non-investment grade securities defaults, the Fund may incur additional expenses to seek recovery.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Liquidity Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Liquidity risk exists when a particular investment is difficult to purchase or sell. If the Fund invests in illiquid securities or current portfolio securities become illiquid, it may reduce the returns of the Fund because the Fund may be unable to sell the illiquid securities at an advantageous time or price.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Call Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">If interest rates fall, it is possible that issuers of callable securities with high interest coupons will "call" (or prepay) their bonds before their maturity date. If an issuer exercised such a call during a period of declining interest rates, the Fund may have to replace such called security with a lower yielding security. If that were to happen, the Fund's net investment income could fall.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Valuation Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund will invest in foreign bonds and, because foreign exchanges may be open on days when the Fund does not price its shares, the value of the non-U.S. securities in the Fund's portfolio may change on days when you will not be able to purchase or sell your Shares.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Portfolio Turnover Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund's Underlying Index rebalances monthly and, as a result, the Fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index. This may result in a high portfolio turnover rate. A portfolio turnover rate of 200%, for example, is equivalent to the Fund buying and selling all of its securities two times during the course of a year. A high portfolio turnover rate (such as 100% or more) could result in high brokerage costs for the Fund. A high portfolio turnover rate also can result in an increase in taxable capital gains distributions to the Fund's shareholders and an increased likelihood that the capital gains will be taxable at ordinary rates.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Market Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Securities in the Underlying Index are subject to market fluctuations. You should anticipate that the value of the Shares will decline, more or less, in correlation with any decline in value of the securities in the Underlying Index.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Market Trading Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund faces numerous market trading risks, including the potential lack of an active market for the Shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Shares trading at a premium or discount to the Fund's NAV.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Non-Correlation Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund's return may not match the return of the Underlying Index for a number of reasons. For example, the Fund incurs operating expenses not applicable to the Underlying Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund's securities holdings to reflect changes in the composition of the Underlying Index. Additionally, the Fund's use of a representative sampling approach may cause the Fund not to be as well-correlated with the return of the Underlying Index as would be the case if the Fund purchased all of the securities in the Underlying Index in the proportions represented in the Underlying Index. In addition, the performance of the Fund and the Underlying Index may vary due to asset valuation differences and differences between the Fund's portfolio and the Underlying Index resulting from legal restrictions, cost or liquidity constraints.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Sampling Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Although it may hold as many securities as necessary to achieve its investment objective, the Fund, by using a representative sampling approach, generally will hold a smaller number of securities than the Underlying Index. As a result, an adverse development to an issuer of securities that the Fund holds could result in a greater decline in NAV than would be the case if the Fund held all of the securities in the Underlying Index. To the extent the assets in the Fund are smaller, these risks will be greater.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Cash Transaction Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Unlike most exchange-traded funds ("ETFs"), the Fund effects creations and redemptions primarily for cash, rather than principally for in-kind securities, because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than an investment in conventional ETFs.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Index Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of the Underlying Index. Therefore, the Fund would not necessarily buy or sell a security unless that security is added or removed, respectively, from its Underlying Index, even if that security generally is underperforming.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Non-Diversified Fund Risk.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase the Fund's volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund's performance.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Issuer-Specific Changes.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">The value of an individual security or particular type of security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>The Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective.</b></font> </p> The Shares will change in value, and you could lose money by investing in the Fund. Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase the Fund's volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund's performance. Principal Investment Strategies <p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund generally will invest at least 80% of its total assets in the bonds issued by the national governments of emerging market countries that comprise the Underlying Index. The Underlying Index measures the potential return of a portfolio of bonds issued by the national governments of emerging market countries, all in the respective local currency. Research Affiliates, LLC ("RA") and Citigroup Index LLC ("Citigroup" or the "Index Provider") jointly select the emerging market countries from a set of existing indices that Citigroup has produced that measure government bond markets. To be included in the Underlying Index, countries must have a domestic sovereign debt rating of at least "CC" by Standard &amp; Poor's ("S&amp;P") and "Ca" by Moody's Investors Service, Inc. ("Moody's").</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;">Strictly in accordance with its existing guidelines and mandated procedures, Citigroup selects bonds from the eligible emerging market countries for inclusion in the Underlying Index that have at least one year to maturity. Using RA's a proprietary weighting methodology, the Index Provider annually weights the bonds of each selected country in the Underlying Index based on that country's composite rankings in four fundamental measures of a country's economic strength: gross domestic product, population, land area and energy consumption. As of October 31, 2012, the Underlying Index included bonds issued by 18 national governments: Brazil, Chile, China (Offshore), Colombia, the Czech Republic, Hungary, Indonesia, Israel, Malaysia, Mexico, Peru, the Philippines, Poland, Russia, South Africa, South Korea, Thailand and Turkey.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund does not purchase all of the securities in the Underlying Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective.</font> </p> <br/><p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><i>Concentration Policy.</i></font> <font style="font-size:9pt; font-family: Arial, Helvetica;">The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries.</font> </p> Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. Investment Objective <p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Arial, Helvetica;">The PowerShares Fundamental Emerging Markets Local Debt Portfolio (the "Fund") seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Citi RAFI Bonds Sovereign Emerging Markets Extended Local Currency Index (the "Underlying Index").</font> </p> Portfolio Turnover <p style="margin: 0pt 0pt 4pt 0pt;" align="left"> <font style="font-size: 9pt; font-family: Arial, Helvetica;">The Fund pays transaction costs, such as commissions, when it purchases and sells securities (or "turns over" its portfolio). A higher portfolio turnover will cause the <font style="font-size: 9pt; font-family: Arial, Helvetica;">Fund to incur additional transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the example, may affect the Fund's performance. At the date of this Prospectus, the Fund does not have an operating history and turnover data therefore is not available.</font><br /> </font> </p> EX-101.SCH 3 ck0001378872-20130509.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 000001 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 020000 - Document - Risk/Return Summary {Unlabeled} - PowerShares Fundamental Emerging Markets Local Debt Portfolio link:presentationLink link:definitionLink link:calculationLink 020001 - Schedule - Annual Fund Operating Expenses link:presentationLink link:definitionLink link:calculationLink 020002 - Schedule - Expense Example {Transposed} link:presentationLink link:definitionLink link:calculationLink 020003 - Disclosure - Risk/Return Detail Data {Elements} - PowerShares Fundamental Emerging Markets Local Debt Portfolio link:presentationLink link:definitionLink link:calculationLink EX-101.LAB 4 ck0001378872-20130509_lab.xml XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT EX-101.DEF 5 ck0001378872-20130509_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT EX-101.PRE 6 ck0001378872-20130509_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT EX-101.CAL 7 ck0001378872-20130509_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT XML 8 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } EXCEL 9 Financial_Report.xls IDEA: XBRL DOCUMENT begin 644 Financial_Report.xls M[[N_34E-12U697)S:6]N.B`Q+C`-"E@M1&]C=6UE;G0M5'EP93H@5V]R:V)O M;VL-"D-O;G1E;G0M5'EP93H@;75L=&EP87)T+W)E;&%T960[(&)O=6YD87)Y M/2(M+2TM/5].97AT4&%R=%\X-&9C9C0Y95\Y8SAC7S0V9&1?.6,V,5]A83DP M9F9E,SEE-S4B#0H-"E1H:7,@9&]C=6UE;G0@:7,@82!3:6YG;&4@1FEL92!7 M96(@4&%G92P@86QS;R!K;F]W;B!A'!L;W)E&UL;G,Z=CTS1")U&UL;G,Z;STS1")U&UL/@T*(#QX.D5X8V5L5V]R:V)O;VL^#0H@(#QX M.D5X8V5L5V]R:W-H965T5]);F9O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O#I%>&-E;%=O6QE#I!8W1I=F53:&5E=#X-"B`@/'@Z4')O M=&5C=%-T#I0#I0#I0&UL/CPA6V5N9&EF72TM/@T*/"]H96%D M/@T*("`\8F]D>3X-"B`@(#QP/E1H:7,@<&%G92!S:&]U;&0@8F4@;W!E;F5D M('=I=&@@36EC'1087)T7S@T9F-F-#EE7SEC M.&-?-#9D9%\Y8S8Q7V%A.3!F9F4S.64W-0T*0V]N=&5N="U,;V-A=&EO;CH@ M9FEL93HO+R]#.B\X-&9C9C0Y95\Y8SAC7S0V9&1?.6,V,5]A83DP9F9E,SEE M-S4O5V]R:W-H965T'0O:F%V87-C3X- M"B`@("`\=&%B;&4@8VQA2`P M.2P@,C`Q,SQB'0^-#DW/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$2`Y+`T*"0DR M,#$S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R M(&-L87-S/3-$3PO=&0^#0H@("`@("`@(#QT9"!C;&%S M'0^,#`P,3,W.#@W,CQS<&%N/CPO2`Y+`T*"0DR,#$S/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$3X-"CPO:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R M=%\X-&9C9C0Y95\Y8SAC7S0V9&1?.6,V,5]A83DP9F9E,SEE-S4-"D-O;G1E M;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.#1F8V8T.65?.6,X8U\T-F1D7SEC M-C%?86$Y,&9F93,Y93'0O:'1M;#L@8VAA'0^4&]W97)3:&%R97,@1G5N9&%M96YT86P@ M16UE'0^/'`@'!E;G-E'0^/'`@2!I9B!Y M;W4@8G5Y(&%N9"!H;VQD('-H87)E2!B'!E M;G-E6]U'!E M;G-E&%M<&QE/'-P86X^/"]S<&%N M/CPO=&0^#0H@("`@("`\+W1R/@T*("`@("`@/'1R(&-L87-S/3-$'0^/'`@6QE/3-$)VUA6]U65A'!E;G-E2!T;R!B=7D@86YD('-E;&P@4VAA M'0^06QT:&]U9V@@>6]U6]U'!E;G-E($5X86UP;&4-"@T*#0H-"BA5 M4T0@)"D\8G(^/"]S=')O;F<^/"]T:#X-"B`@("`@("`@("`@("`@/'1H(&-L M87-S/3-$=&@^,2!914%2/&)R/CPO=&@^#0H@("`@("`@("`@("`@(#QT:"!C M;&%S'0^4&]R=&9O;&EO(%1U'0^/'`@F4Z(#EP=#L@9F]N="UF86UI;'DZ($%R:6%L+"!(96QV971I8V$[ M)SY&=6YD('1O(&EN8W5R(&%D9&ET:6]N86P@=')A;G-A8W1I;VX@8V]S=',@ M86YD(&UA>2!R97-U;'0@:6X@:&EG:&5R('1A>&5S('=H96X@1G5N9"!3:&%R M97,@87)E(&AE;&0@:6X@82!T87AA8FQE(&%C8V]U;G0N(%1H97-E(&-O2!A M9F9E8W0@=&AE($9U;F0G'0^4')I;F-I<&%L($EN M=F5S=&UE;G0@4W1R871E9VEE6QE/3-$)VUA6QE/3-$)V9O;G0M6EN9R!);F1E>"X@5&AE(%5N9&5R;'EI;F<@ M26YD97@@;65A"!,3$,@*")#:71I M9W)O=7`B(&]R('1H92`B26YD97@@4')O=FED97(B*2!J;VEN=&QY('-E;&5C M="!T:&4@96UE2!3=&%N9&%R9"`F86UP.R!0;V]R)W,@*")3)F%M M<#M0(BD@86YD(")#82(@8GD@36]O9'DG65A2X@57-I;F<@4D$G2P@=&AE($EN9&5X(%!R;W9I9&5R(&%N;G5A;&QY('=E M:6=H=',@=&AE(&)O;F1S(&]F(&5A8V@@2!I;B!T M:&4@56YD97)L>6EN9R!);F1E>"!B87-E9"!O;B!T:&%T(&-O=6YT2`Q."!N M871I;VYA;"!G;W9EFEL+"!#:&EL92P@0VAI;F$@*$]F M9G-H;W)E*2P@0V]L;VUB:6$L('1H92!#>F5C:"!297!U8FQI8RP@2'5N9V%R M>2P@26YD;VYE6QE/3-$)VUA6QE/3-$)V9O;G0M2!O'0^/'`@&5D+4EN8V]M92!396-U7!I8V%L M;'D@87)E(&UO6EN9R!D96=R965S(&]F(&-R961I="!R:7-K+"!W:&EC M:"!M87D@8F4@2!A9'9E&-H86YG92!O;B!T:&4@9&%T92!A('!A>6UE;G0@:7,@9'5E+"!T:&4@ M2!A2!B92!S=6)J96-T+B!4:&4@9V]V M97)N;65N=&%L(&%U=&AO2!T:&%T(&-O;G1R;VQS('1H92!R97!A>6UE M;G0@;V8@'1E;G0@;V8@:71S(&9O2!I='-E;&8L(&%N9"!T:&4@1G5N9"=S M(&%B:6QI='D@=&\@;V)T86EN(')E8V]U2!B92!L:6UI=&5D+CPO M9F]N=#X@/"]P/B`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`@2X@3VYC92!A=F%I;&%B;&4L('1H92!&=6YD)W,@<&5R9F]R M;6%N8V4@:6YF;W)M871I;VX@=VEL;"!B92!A8V-E7!E.B!T97AT M+VAT;6P[(&-H87)S970](G5S+6%S8VEI(@T*#0H\:'1M;#X-"B`@/&AE860^ M#0H@("`@/$U%5$$@:'1T<"UE<75I=CTS1$-O;G1E;G0M5'EP92!C;VYT96YT M/3-$)W1E>'0O:'1M;#L@8VAA6QE/3-$)VUA2!C;W)R97-P;VYD M("AB969O6EE;&0@;V8@=&AE($-I=&D@4D%&22!";VYD'1E;F1E9"!,;V-A;"!#=7)R96YC>2!);F1E>"`H=&AE M(")5;F1E'!E;G-E(%M(96%D:6YG73PO=&0^#0H@ M("`@("`@(#QT9"!C;&%S'!E;G-E($YA M'!E;G-E3F%R'!E;G-E&%M<&QE(&)E;&]W+CPO9F]N=#X@/"]P/CQS<&%N/CPO'1=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'!E M;G-E6]U6QE/3-$)V9O;G0M3H@07)I86PL($AE;'9E=&EC83LG/D9U;F0@=&\@:6YC=7(@861D:71I M;VYA;"!T&%B M;&4@86-C;W5N="X@5&AE'!E;G-E'1=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^2!B'0^(D]T:&5R($5X<&5N&%M<&QE(%M(96%D:6YG73PO=&0^#0H@("`@("`@(#QT9"!C M;&%S&%M<&QE2&5A9&EN9SPO=&0^#0H@("`@ M("`@(#QT9"!C;&%S'0^17AA;7!L93QS<&%N/CPO&%M<&QE($YA'!E M;G-E17AA;7!L94YA'1";&]C:SPO=&0^#0H@("`@("`@(#QT M9"!C;&%S'0^/'`@6QE/3-$)VUA6]U65A'!E;G-E2!T;R!B=7D@86YD('-E;&P@4VAA'!E;G-E M($5X86UP;&4@8GDL(%EE87(L($-A<'1I;VX@6U1E>'1=/"]T9#X-"B`@("`@ M("`@/'1D(&-L87-S/3-$=&@^5EE87)#87!T M:6]N/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&5X=#Y!;'1H;W5G:"!Y M;W5R(&%C='5A;"!C;W-T6QE/3-$)VUA6QE/3-$)V9O;G0M6EN9R!);F1E>"X@5&AE(%5N9&5R;'EI;F<@26YD97@@;65A M"!,3$,@*")#:71I9W)O=7`B(&]R M('1H92`B26YD97@@4')O=FED97(B*2!J;VEN=&QY('-E;&5C="!T:&4@96UE M65A2X@57-I;F<@4D$G2P@=&AE($EN9&5X(%!R;W9I9&5R(&%N;G5A;&QY('=E:6=H=',@=&AE M(&)O;F1S(&]F(&5A8V@@2!I;B!T:&4@56YD97)L M>6EN9R!);F1E>"!B87-E9"!O;B!T:&%T(&-O=6YT2`Q."!N871I;VYA;"!G M;W9EFEL+"!#:&EL92P@0VAI;F$@*$]F9G-H;W)E*2P@ M0V]L;VUB:6$L('1H92!#>F5C:"!297!U8FQI8RP@2'5N9V%R>2P@26YD;VYE M6QE/3-$)VUA M6QE/3-$)V9O;G0M2!O2!O;F4@:6YD=7-T'0^0V]N8V5N=')A=&EO;B!0;VQI8WDN(%1H92!&=6YD M('=I;&P@8V]N8V5N=')A=&4@:71S(&EN=F5S=&UE;G1S("AI+F4N+"!I;G9E M2!O'0^4')I;F-I<&%L(%)I'0@0FQO8VM=/"]T9#X-"B`@("`@ M("`@/'1D(&-L87-S/3-$=&@^'1";&]C:SPO M=&0^#0H@("`@("`@(#QT9"!C;&%S'0^/'`@&5D+4EN8V]M92!396-U7!I8V%L;'D@87)E(&UO6EN9R!D96=R965S(&]F(&-R M961I="!R:7-K+"!W:&EC:"!M87D@8F4@2!A9'9E&-H86YG92!O;B!T:&4@9&%T92!A('!A>6UE M;G0@:7,@9'5E+"!T:&4@2!A6UE;G0@;V8@'1E;G0@;V8@ M:71S(&9O2!I='-E;&8L M(&%N9"!T:&4@1G5N9"=S(&%B:6QI='D@=&\@;V)T86EN(')E8V]U2!B92!L:6UI=&5D+CPO9F]N=#X@/"]P/B`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`@("`@("`@/'1D(&-L87-S/3-$=&@^6QE/3-$)VUA6QE/3-$)V9O;G0M'1=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'1=/"]T9#X-"B`@("`@("`@/'1D(&-L87-S M/3-$=&@^2!796)S:71E($%D9')E'1=/"]T M9#X-"B`@("`@("`@/'1D(&-L87-S/3-$=&@^'0^=W=W+FEN=F5S8V]P;W=E'!E;G-E'!E;G-E'!E;G-E17AA;7!L95EE87(P,3PO=&0^ M#0H@("`@("`@(#QT9"!C;&%S'!E;G-E($5X86UP;&4L('=I=&@@4F5D96UP M=&EO;BP@,R!996%R&%M<&QE665A3X-"CPO M:'1M;#X-"@T*+2TM+2TM/5].97AT4&%R=%\X-&9C9C0Y95\Y8SAC7S0V9&1? M.6,V,5]A83DP9F9E,SEE-S4-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O M0SHO.#1F8V8T.65?.6,X8U\T-F1D7SEC-C%?86$Y,&9F93,Y93'0O:'1M;#L@ M8VAA2`Q+`T*"0DR,#$S/'-P86X^/"]S<&%N/CPO=&0^#0H@("`@ M("`\+W1R/@T*("`@(#PO=&%B;&4^#0H@(#PO8F]D>3X-"CPO:'1M;#X-"@T* M+2TM+2TM/5].97AT4&%R=%\X-&9C9C0Y95\Y8SAC7S0V9&1?.6,V,5]A83DP M9F9E,SEE-S4-"D-O;G1E;G0M3&]C871I;VXZ(&9I;&4Z+R\O0SHO.#1F8V8T M.65?.6,X8U\T-F1D7SEC-C%?86$Y,&9F93,Y93&UL#0I#;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M M<')I;G1A8FQE#0I#;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA&UL;G,Z;STS1")U&UL/@T*+2TM+2TM/5].97AT M4&%R=%\X-&9C9C0Y95\Y8SAC7S0V9&1?.6,V,5]A83DP9F9E,SEE-S4M+0T* ` end XML 10 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
PowerShares Fundamental Emerging Markets Local Debt Portfolio
PowerShares Fundamental Emerging Markets Local Debt Portfolio
Investment Objective

The PowerShares Fundamental Emerging Markets Local Debt Portfolio (the "Fund") seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Citi RAFI Bonds Sovereign Emerging Markets Extended Local Currency Index (the "Underlying Index").

Fund Fees and Expenses

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund ("Shares"). Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below.

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
PowerShares Fundamental Emerging Markets Local Debt Portfolio
Management Fees 0.50%
Other Expenses [1] none
Total Annual Fund Operating Expenses 0.50%
[1] "Other Expenses" are based on estimated amounts for the current fiscal year.
Example

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.


This example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. This example does not include the brokerage commissions that investors may pay to buy and sell Shares.

Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:
Expense Example (USD $)
1 YEAR
3 YEARS
PowerShares Fundamental Emerging Markets Local Debt Portfolio
51 160
Portfolio Turnover

The Fund pays transaction costs, such as commissions, when it purchases and sells securities (or "turns over" its portfolio). A higher portfolio turnover will cause the Fund to incur additional transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the example, may affect the Fund's performance. At the date of this Prospectus, the Fund does not have an operating history and turnover data therefore is not available.

Principal Investment Strategies

The Fund generally will invest at least 80% of its total assets in the bonds issued by the national governments of emerging market countries that comprise the Underlying Index. The Underlying Index measures the potential return of a portfolio of bonds issued by the national governments of emerging market countries, all in the respective local currency. Research Affiliates, LLC ("RA") and Citigroup Index LLC ("Citigroup" or the "Index Provider") jointly select the emerging market countries from a set of existing indices that Citigroup has produced that measure government bond markets. To be included in the Underlying Index, countries must have a domestic sovereign debt rating of at least "CC" by Standard & Poor's ("S&P") and "Ca" by Moody's Investors Service, Inc. ("Moody's").


Strictly in accordance with its existing guidelines and mandated procedures, Citigroup selects bonds from the eligible emerging market countries for inclusion in the Underlying Index that have at least one year to maturity. Using RA's a proprietary weighting methodology, the Index Provider annually weights the bonds of each selected country in the Underlying Index based on that country's composite rankings in four fundamental measures of a country's economic strength: gross domestic product, population, land area and energy consumption. As of October 31, 2012, the Underlying Index included bonds issued by 18 national governments: Brazil, Chile, China (Offshore), Colombia, the Czech Republic, Hungary, Indonesia, Israel, Malaysia, Mexico, Peru, the Philippines, Poland, Russia, South Africa, South Korea, Thailand and Turkey.


The Fund does not purchase all of the securities in the Underlying Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective.


Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries.

Principal Risks of Investing in the Fund

The following summarizes the principal risks of the Fund.


Fixed-Income Securities Risk. Fixed-income securities are subject to interest rate risk and credit risk. Interest rate risk refers to fluctuations in the value of a fixed-income security resulting from changes in the general level of interest rates. When the general level of interest rates goes up, the prices of most fixed-income securities go down. When the general level of interest rates goes down, the prices of most fixed-income securities go up. Fixed-income securities with longer maturities typically are more sensitive to changes in interest rates, making them more volatile than securities with shorter maturities. Credit risk refers to the possibility that the issuer of a security will be unable and/or unwilling to make timely interest payments and/or repay the principal on its debt. Debt instruments are subject to varying degrees of credit risk, which may be reflected in credit ratings. There is a possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.


Sovereign Debt Risk. Risks of sovereign debt include the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, and the government debtor's policy towards the International Monetary Fund and the political constraints to which a government debtor may be subject. The governmental authority that controls the repayment of sovereign debt may be unwilling or unable to repay the principal and/or interest when due in accordance with the terms of such securities due to the extent of its foreign reserves. If an issuer of sovereign debt defaults on payments of principal and/or interest, the Fund may have limited legal recourse against the issuer and/or guarantor. In certain cases, remedies must be pursued in the courts of the defaulting party itself, and the Fund's ability to obtain recourse may be limited.


Emerging Markets Sovereign Debt Risk. Government obligors in emerging market countries are among the world's largest debtors to commercial banks, other governments, international financial organizations and other financial institutions. Historically, certain issuers of the government debt securities in which the Fund may invest have experienced substantial difficulties in meeting their external debt obligations, resulting in defaults on certain obligations and the restructuring of certain indebtedness. Such restructuring arrangements have included obtaining additional credit to finance outstanding obligations and the reduction and rescheduling of payments of interest and principal through the negotiation of new or amended credit agreements.


Currency Risk. The Fund invests in the bonds of governments located in emerging market countries and much of the income received by the Fund will be in foreign currencies. Because the Fund's net asset value ("NAV") is determined in U.S. dollars, the Fund's NAV could decline if the currency of the non-U.S. markets in which the Fund invests depreciate against the U.S. dollar, even if the value of the Fund's holdings, measured in the foreign currencies, increases.


Non-Investment Grade Securities Risk. The Fund may invest in securities that are rated below investment grade (i.e., securities rated below "BBB" by S&P or "Baa" by Moody's); however, the Fund will invest at least 80% of its total assets in bonds issued by national governments of countries that have a domestic sovereign debt rating of at least "CC" by S&P and "Ca" by Moody's. Non-investment grade securities and unrated securities of comparable credit quality are subject to the increased risk of an issuer's inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as interest rate sensitivity, negative perceptions of the non-investment grade securities markets generally, real or perceived adverse economic conditions and less secondary market liquidity. If the issuer of non-investment grade securities defaults, the Fund may incur additional expenses to seek recovery.


Liquidity Risk. Liquidity risk exists when a particular investment is difficult to purchase or sell. If the Fund invests in illiquid securities or current portfolio securities become illiquid, it may reduce the returns of the Fund because the Fund may be unable to sell the illiquid securities at an advantageous time or price.


Call Risk. If interest rates fall, it is possible that issuers of callable securities with high interest coupons will "call" (or prepay) their bonds before their maturity date. If an issuer exercised such a call during a period of declining interest rates, the Fund may have to replace such called security with a lower yielding security. If that were to happen, the Fund's net investment income could fall.


Valuation Risk. The Fund will invest in foreign bonds and, because foreign exchanges may be open on days when the Fund does not price its shares, the value of the non-U.S. securities in the Fund's portfolio may change on days when you will not be able to purchase or sell your Shares.


Portfolio Turnover Risk. The Fund's Underlying Index rebalances monthly and, as a result, the Fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index. This may result in a high portfolio turnover rate. A portfolio turnover rate of 200%, for example, is equivalent to the Fund buying and selling all of its securities two times during the course of a year. A high portfolio turnover rate (such as 100% or more) could result in high brokerage costs for the Fund. A high portfolio turnover rate also can result in an increase in taxable capital gains distributions to the Fund's shareholders and an increased likelihood that the capital gains will be taxable at ordinary rates.


Market Risk. Securities in the Underlying Index are subject to market fluctuations. You should anticipate that the value of the Shares will decline, more or less, in correlation with any decline in value of the securities in the Underlying Index.


Market Trading Risk. The Fund faces numerous market trading risks, including the potential lack of an active market for the Shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Shares trading at a premium or discount to the Fund's NAV.


Non-Correlation Risk. The Fund's return may not match the return of the Underlying Index for a number of reasons. For example, the Fund incurs operating expenses not applicable to the Underlying Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund's securities holdings to reflect changes in the composition of the Underlying Index. Additionally, the Fund's use of a representative sampling approach may cause the Fund not to be as well-correlated with the return of the Underlying Index as would be the case if the Fund purchased all of the securities in the Underlying Index in the proportions represented in the Underlying Index. In addition, the performance of the Fund and the Underlying Index may vary due to asset valuation differences and differences between the Fund's portfolio and the Underlying Index resulting from legal restrictions, cost or liquidity constraints.


Sampling Risk. Although it may hold as many securities as necessary to achieve its investment objective, the Fund, by using a representative sampling approach, generally will hold a smaller number of securities than the Underlying Index. As a result, an adverse development to an issuer of securities that the Fund holds could result in a greater decline in NAV than would be the case if the Fund held all of the securities in the Underlying Index. To the extent the assets in the Fund are smaller, these risks will be greater.


Cash Transaction Risk. Unlike most exchange-traded funds ("ETFs"), the Fund effects creations and redemptions primarily for cash, rather than principally for in-kind securities, because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than an investment in conventional ETFs.


Index Risk. Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of the Underlying Index. Therefore, the Fund would not necessarily buy or sell a security unless that security is added or removed, respectively, from its Underlying Index, even if that security generally is underperforming.


Non-Diversified Fund Risk. Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase the Fund's volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund's performance.


Issuer-Specific Changes. The value of an individual security or particular type of security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole.


The Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective.

Performance

As of the date of this Prospectus, the Fund has not commenced operations and therefore does not have a performance history. Once available, the Fund's performance information will be accessible on the Fund's website at www.invescopowershares.com and will provide some indication of the risks of investing in the Fund.

XML 11 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Prospectus Date rr_ProspectusDate May 01, 2013
XML 12 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.1.0.1 * */ var moreDialog = null; var Show = { Default:'raw', more:function( obj ){ var bClosed = false; if( moreDialog != null ) { try { bClosed = moreDialog.closed; } catch(e) { //Per article at http://support.microsoft.com/kb/244375 there is a problem with the WebBrowser control // that somtimes causes it to throw when checking the closed property on a child window that has been //closed. So if the exception occurs we assume the window is closed and move on from there. bClosed = true; } if( !bClosed ){ moreDialog.close(); } } obj = obj.parentNode.getElementsByTagName( 'pre' )[0]; var hasHtmlTag = false; var objHtml = ''; var raw = ''; //Check for raw HTML var nodes = obj.getElementsByTagName( '*' ); if( nodes.length ){ objHtml = obj.innerHTML; }else{ if( obj.innerText ){ raw = obj.innerText; }else{ raw = obj.textContent; } var matches = raw.match( /<\/?[a-zA-Z]{1}\w*[^>]*>/g ); if( matches && matches.length ){ objHtml = raw; //If there is an html node it will be 1st or 2nd, // but we can check a little further. var n = Math.min( 5, matches.length ); for( var i = 0; i < n; i++ ){ var el = matches[ i ].toString().toLowerCase(); if( el.indexOf( '= 0 ){ hasHtmlTag = true; break; } } } } if( objHtml.length ){ var html = ''; if( hasHtmlTag ){ html = objHtml; }else{ html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ objHtml + "\n"+''+ "\n"+''; } moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write( html ); moreDialog.document.close(); if( !hasHtmlTag ){ moreDialog.document.body.style.margin = '0.5em'; } } else { //default view logic var lines = raw.split( "\n" ); var longest = 0; if( lines.length > 0 ){ for( var p = 0; p < lines.length; p++ ){ longest = Math.max( longest, lines[p].length ); } } //Decide on the default view this.Default = longest < 120 ? 'raw' : 'formatted'; //Build formatted view var text = raw.split( "\n\n" ) >= raw.split( "\r\n\r\n" ) ? raw.split( "\n\n" ) : raw.split( "\r\n\r\n" ) ; var formatted = ''; if( text.length > 0 ){ if( text.length == 1 ){ text = raw.split( "\n" ) >= raw.split( "\r\n" ) ? raw.split( "\n" ) : raw.split( "\r\n" ) ; formatted = "

"+ text.join( "

\n" ) +"

"; }else{ for( var p = 0; p < text.length; p++ ){ formatted += "

" + text[p] + "

\n"; } } }else{ formatted = '

' + raw + '

'; } html = ''+ "\n"+''+ "\n"+' Report Preview Details'+ "\n"+' '+ "\n"+''+ "\n"+''+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+' '+ "\n"+'
'+ "\n"+' formatted: '+ ( this.Default == 'raw' ? 'as Filed' : 'with Text Wrapped' ) +''+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+' '+ "\n"+'
'+ "\n"+''+ "\n"+''; moreDialog = window.open("","More","width=700,height=650,status=0,resizable=yes,menubar=no,toolbar=no,scrollbars=yes"); moreDialog.document.write(html); moreDialog.document.close(); this.toggle( moreDialog ); } moreDialog.document.title = 'Report Preview Details'; }, toggle:function( win, domLink ){ var domId = this.Default; var doc = win.document; var domEl = doc.getElementById( domId ); domEl.style.display = 'block'; this.Default = domId == 'raw' ? 'formatted' : 'raw'; if( domLink ){ domLink.innerHTML = this.Default == 'raw' ? 'with Text Wrapped' : 'as Filed'; } var domElOpposite = doc.getElementById( this.Default ); domElOpposite.style.display = 'none'; }, LastAR : null, showAR : function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }, toggleNext : function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }, hideAR : function(){ Show.LastAR.style.display = 'none'; } }
XML 13 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information
0 Months Ended
May 09, 2013
Risk/Return:  
Document Type 497
Document Period End Date May 09, 2013
Registrant Name PowerShares Exchange-Traded Fund Trust II
Central Index Key 0001378872
Amendment Flag false
Document Creation Date May 09, 2013
Document Effective Date May 09, 2013
Prospectus Date May 01, 2013
ZIP 14 0001104659-13-044920-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001104659-13-044920-xbrl.zip M4$L#!!0````(`!-GO$+%!.&?41P``%1Z```9`!P`8VLP,#`Q,S`L``00E#@``!#D!``#L7>MSVSB2 M_WY5]S_@?#=3R:V>=C)^)'&5X\2))K:3C9W7;&VE(!*2$).$`I"2E0_[MU]W M`R!!B;*=VXEGQW=3E8E$XM%H=/_Z@8;R^#_:;?9"9$+S7,1LN&#R\%Z>WF=M M=JC2Z5DDV2#+X6V4RYF`9]E,:/@.[R=Y/MWK=N?S>2>"IB:26AA5Z$@8?,#: M[7V&__W[OSW&20ZUP"GVV)&6[(0O6+_'^EM[F[V]K3Y[=W[(-GO]+=L)>EP. M=<(NTR0S3S:"B?!Q1^EQ=[/7V^K*S.0\B\2&;;F';^5WM(]%U9I:&A%UQFK6 MA1?0H[_9[O7;6_UP^'BIAQO[EZY]Z9LF,KNX@A!\/>2F(CRYHO''8VCM6T87 MO1[P:7MG9WNS[#-521]J_>PM^L[%::=+Z;"U$DO3->_P(EVZXN5 M1CW8[&]?Q4W;HJ3,RD#9H4DF?%NMF_FN=1/;5Y@YWR(J^KN[NUUZ6S8U3>V` MVG[WX\GQ6301*6^74N#%D[''.,B>H?=OQ8C1H'O(FB<;1J;3!'>*GDVT&#W9 M"'>A[;G=N33Q1G>_'#-2H#B7.9/QDXU8C'B1Y,&4T$!DN"1C?#B2 MH&!$C:BMQ[/IF!&;H_!FHYCXNI-U[ MV.[M/NY63P.*B>9XI:U_5LY;S6(YT76L\//66',&"^EM[3SL[YR(="CT1DCO M#V81+E^,4WBS7SZ!9U:7]\3E-)&1S"U=+);0T$B5X7;*O6,QYLESHN_@4IJ- M_5`H]I97];C;..A^0$FW).7/O8&?#Y$/_9V=G=UR1__O;>=-YM5Z[XU69BJB MO#!GB-^'"3>F8?YEEJZ?G_U)):K(I!6G`E"THN9Q*K@IM-AWUF;OW=FSQUW_ MD%7C8?_@>SG<%-K5(,7W)6=A#U_7QVLJ5R@/:Z9"%@'+%C$WDAH ME8@K#">^)A=@8[_TCO[VX>3]@[__[6,T+2X_90]WXV_;L_&G1?;N63%_L:UW MMU]M?GEWOC#)]BSZUDM^S?_R]N3#47;WDR`GG/QE^>'5]L M[GSB'T9%[Q4?'[[L/WCS[.BD__+Y1?IM]]7)UK'8EL>SI#^.YP^3#[V3WEM^ MNOUKU!,?].O/IZ<_M+].C"O^:=!\>"PF,'3W?$O7P?%P8/CD]]& MR>:WP:O+[L[.7_5Y?JHN3SY%KX;CY(7\^.VL.SCZ]#[^^LOVQ7E_D&[NGGS+ M=O+HX,G?V>'96^=$NKTC[B8JJG$?OO-<:<_\A`\%N%.?7^<3H9]?3D'9A'D- M7NN!,2(W[6OAZC.)3,W>_^<_.UIW?VD17I9J*_&^TO?(D1]H:?FC/,L_]\@O M@D?9&(0T:[\[V]C_^6NA\D>T'.;78Y\QP!^&7FG,5,:$R65*,0%/59'EAHV4 M9M"-1876`"-L)$W$$[807'<>=VNK6MDS_^)`U_>.Z\@3#A^O6:]KT1U!,-)> M7O=(J_1WV_5<51Q4.A;@KO9#UZZ[@@Y:<\!;99P'N+ M\E2Z@V_0[VW:LL&FU,GQS`(]C?'64\''S*".>&&''J;5N8,,AO-(\&0!`7KX2 MB^;Q0M.^MFN=2D__&[(LSZW!:1X]M$QKNS:/3E$K&.OO'SSLN=\P\O/12%!0 M_?U#U[I6=-?FR'PSV5IJ+MR(O=/92\%AF=5E8]=M#84;AY4@K M(,3S5.@Q=C_A^@*4D1TK!(YG8IBS-TKG(Y5(1;2LS%A;G%/KYY<<([*;T>0: MT^B-_??73G#*M>;(Y7,8_BE8F8MKYOHYR1]-F?Q_`*AQK!9+71\$';R&]B;Q<&8?1UQ%.9+/;8@98\ M:;&7(IF)7$;\4378^40:)NR:&'R4F?566*[81"13ME`%PV@=\9\`7@'DJ!$T MG*$5`![+C%X0(LUE/EG?3)%A&4%#T\%%=)'*)TQ(Y($ MEIT@`V%(S9S>P`S8'38(W^0394NP4:4&@D(F!-K*`)V$"8 M-TJ*V,K/4*L+&&>,(I*FTF"PXVBTY"EM6,H7;`I_0`B'Q8)((IY8/M1EIQ*= M!CU>5=/`;U]I_0G6W^LS=.])BS':N%*M5Z-9%HL(7*/$/-GH;>P_[#?09&>Y MEHZMWY&._B^]=81L[:\AX@.H\EL1BW2*ANJ<#Y,;8]T_V#6Y1^N=8LHM+A)1 MGQ<)DR5%&D&ZY&?E\)PBTM1SL)H^/,R.4RK.9MJ8(9>E#W^ MF_VC@2%7+7F]*7BZ0$8>"@2<9A#TT+[^:J2&(888\UK*Q&8Y/=O)G!)!0[$@A%\,%[ MTN%\5YCF.V4R&*GL<."Q$PD@#X:=@1IB&43 M\/1`OARBVR4ZD^4Q'>)'-5]KO$-):(9>+Q,G/`.R*3(082Q6@9X-N?[7J#ZM@A,B M2>#_H6,(_2*,SP!9'"[->%*(TB&M/,G[UMRLHW:_6;5.Q1P)?(KV['7VW*63 MS'4&X0>EIVY(W:I"^:R,3S+\.FM?]A2M65)//I^!/P-3Y01:_ M$1H8G.*Y*0GT#3,"52^BX/H!0R0)FMP5Q^*@=`)BS,_09P"@*@?3JCP$C-]P MGU%2!/`@]N$9BHP+)$$&E`["L`F?":O;GG/@;:((+CKL-7[C,RX3Y'=K)?@+ M.\F,/A(8S26$9>"V\B@2("0D8]E*[[D8&@E+`L#!S"VA1Z26L)O(IO&F6LTD MQ(M&I<+'QSB9XXZ6YL*LS4%<[9Q<*3;U;%G5\G5&L=)K?0QKO,[#_^,V<7F! M-;+K?D[0:E#MYB!)"LP=`]:]YR"G0YF`%7P]LEFWZU9^AT1HF9,WY]$:B#JP M;*&V'\3P#%9R$,?Z>G%:O]9E&M=/41-KS*+>$)^US"(Y!3/YUG-KT,2M,CE; MHG0XUUT!9TROC50"]A*7#W$W4`6#V,AO6K*J%*QKX6@UT?DOMV8<2^*'(WDI MXO8@BU";S@1X43*7L';<8+M`6:;B:DO]O2BQ!$A+@*D(0'?'%,,O@*R8+,3L MM<;L*^HG[04A0J1%+'/ZWK$5B_4V@+&@63C`*"DP)V,1V,EXZ?ERX.6;(PVH)BVO,A%U@%, M,=7>1)FD/F`ZYMGWSH)]OG>>8MIAZ_:)S@42!7S1X.[F_G&^F,(^)\F"-C)% M0V>P_H7*26$[`E;6J6S!*!?(<2`QM1UG*H%]2S#+S+.5N`;:P8:%CQ":K M>@*\`Y4N;!IB/E'H23I7&$`&B,YH"AQ!Z=*U5(F,\+AHSG5L33+!?$9(#JIT MHC*18VZ&_&X_'G9#!F$*'C6+2U0L(,3%TJL3>IEVBF=/W:I6,!(O''"6DS!'A@>^HT^!+*QV3JUT>R4*S MU.Y]`8L+`!+[>.YCL9H]N+59$R(0AH>]0L@<@+9G`1(N+<*5$5#2HD0X:+:6 MZ"`80@90<)/(5"(T)9B(@[DC56@\[!ASA+\0BMU@XX)CO8O2:-Q9)'2.AY(1 MIDI:>$0)<`6K3+%6!C@,Z`.=R[P(CIY7,9M=`/)_RC5L(K!!)*-*!,.0Q.L( M\$X-:;;BEW`K)6"C7^*`Q[42FE&@(3,(4&O!>>OI3HPXT%U?-.(D^5 M]1;87.FDW,($6(RZ8[6;=)^"<1W!]&S(LPL0(5NV4&DY/)(U=!G)#%0->R@] MYIG\%H3PKN:A;($R+/."&G382PK=K0_4*D77BGKLQJ M"N^I#UJ7:H.ZKM&UULYG*)>:X0PBSB!.[;`S1*9Z6PP?,WMP8^R*G*V*G=)1 MHQ@\$KL7SCM!7YYX#C:GR''5%/$VTQ;#;)@!?@1&H.BA]3N><+PN`+L!YH;MO09&3]?EA0&\A[;E" M1&'%4Q'QPH@5")[8P_^M7^L.>4\/WKL37O*;!)IIF5EZWW7..N`_)P!3 M9C6A!CUQ!4F,QW$@KP*/EZM3CFCA%Y.IK$U#I0ZZ5V'#,S(64UBS)'\N,+@! M(2T&@6/FIZJYZ"%Q>+2-\01$:K9^OK2XJSQ#/`750(-])Q3B%/@]J&JM7F#P M\X>D36M,S1##0F(!XYV^G]Y)W3 M7)&[[<[G,Z?[9#I)74OK'&(!6IY2YVGM+I\>@[:#88Z6/=H@RO4TV#4<'C:O M%H'$M5BSV@Y#^5CA<9C5@C&*S+(X>$S$8R4F107.EGPM.#FA2^D`AV&D5+%- M<:C`=_=:"B:R[5-(_D<#<[G@@Z* M1;!F'[TO;I8R>#X9!!U::%IM)$F'T[;L*42XJSCJ@<\EO]#9`L+07[.C$<:[ M'(0+04$6X&_K5]@M23!=;_!MC*&DLR&)_%K(&!,3&!W5$T77D>7=I]:R_Q9A M=5CEU%1G]L`Q(2XHT`!B[T8RY-AS\/:`L9J25$-<2C1^%$%SBOS0->:UBEDT MSMYGQGWP62R4(2Q.+;=_V3'!>!YGJZFR+DL1IK[(/7P_%.1^^*Y@(&V&@'Q5 MX=Q6>R@7UHT-EUR/*JO@$PE41DM"VD`5FH(,U8!3Z8]8W2W0_6U#KWUEW$/[H0POP?WVP:;M^]3A@Y:$`I9&0-[V2KA:#EM M7#H*"G8.4P6E+'BPG@-Z?,95.JW$'65\4\^,K!0@E$B+TU<9[&IV MK(:C9>'$6)+@4',9Z\-;&7="CLJ;5NPI**J[, M1.3J4ESBW,_OLO(\_E(X4''RMTRQNP=C#3:21REYB]W5Q+GGM";D/5CW"F?9 M[/5^:E$5HRO=:Z'Y@*5)4`1:G@J\@()(\;=FZ+.]3$1:%`1_ MA4S-RBB'-)Y?VMB(3R5&AY3!`+?-0,`WM#G7D%->X@A8,&&!UI?3`5$0/"7R M0B1R`A%<<`9:F\`GA/STT$AID#:,$NPA_UW`")OWOSU<.%L!\Q5D6`IZ7406 M%G%TV"?`=#,A8<34-\:VN:AVLF9(W#T[VD^74VO9Z@*\CP/A7\MBA+:GFAXD M>+:H4G!9X['U%:NX2\)Q[E#V]KV1$4?[D!6IT!BW.%'PJ$]E62UW=."1;JKP ML!,/0\`;]?D1]UMF7I0O+\3IM,-`'_\PK\7=H\4M0N<1PJK(>P_T8HVK0!+&46Z' M-F6$1H=PZR@T]D%>`>"D\2XNS@JA4`)D.J^U:;Z62^O1*-8&8^YTU6.H<*O% M!)8N2ZK3(C&=%X]&%P2H,6V^"K*-534'#N*LS6LJ/(-/PDC'>I82(,DG:'MQ%'#J`5VXA M=G67+YUS8,JC&)K%AP^Q]\-N9AC\`\2+4H$A2&%LWN@Z16U5:7KKBEEZF$DQ5:0#L*P? M9*U3AX,P3K0)3LKSQU@!JZ:IBY_JA4U+1V2ERB`M9B6XX>5!1^`'XODLD74U M.DQ$\IW``/%EK5R+JO;*@[!*N]$[MCQK.4_"EJ?[>,71?">TYI";":/?#N#1 M[7H"[S*,$&UYM,]PM7-;\$J_=>)/^I^?'_G+W(%%%U3O:DK7T+@R%.\?&G>O M%,@@9P'D!S0$K#_6%9%XE4=VKH7,VA*TE*UP9Q25.2R]U."T_M M">IP1F\I4&[Q]PY\ZC0HGB\R*SAV=O<0"\]C*N_"JOA4S41,16=3:U/0!23G M`(W.JG=;U::$8U;V1.+-=^CD/"+H>2S$,/"64;D:RP%&2Z6 M#^[QH"."OW<5*@_*K5V&IVSY,A"%V^X\(K#K*HKH1GP#*4$BN$Q3+@-N4!-A M>>0YN>2T\[*4'L28S'K@")4L4;Z@Q2]"VM\B:+A1&8Q_)W1@0#QHGV&L"E:( M'5HIN+5L0"5?62BM)0CA:6Q568`_<1DXFN5MF8:[3($,5[5B;\+"_8H?:FN"/IJ4J$POZ]PP: MK_^R6MT<)5:NB70L)X?-0A9$(57WY3]`2LOB2QI6/[- MQU.LB2I1[@QBN.*Z.\S_;Q[^[.:ADMV&W0^D]\PYE-][P3PHEG5#2/>S8DLC MUG_%P+^\2W?,24&6\A_?405;5<%7E;`NX&NLAEU?$>^NKZ4@T$[B&B.`AMRA MK?)D//;,G'.< M.T#\D5HE5:++>*O.(%+-,P8I75PL;(R^.I,(G4;;`OQ+6IJFD*YY)[I_B8E( MH8A_\=E+UJ`H;8M?34:S,X1!EN$Z_OII"L=8B5`&!%!D9[TA/C9]G?;Q4$FD M*`V"`Z5*+5_!)P_AB[8%*DHAK3TRS4BJ*?(>B1AT!\%+(QU'EQOE<--J:5HV MIU6_:U'5_C>9!E=[(GG7S"^-X%!\9!OUSY567_(JZ)HRXT0L[W$^T3TXNTD; ML$1,3`K5!3\`UA"H^+AIJ+C9FA-;:"5#TZTFH8&4X(H39DOY)["IRJMZ]ER$ MA[RW5@)K#=8?HSI^+6"_+Y0RAD%I*9=4#($[$9GW'NQN2]V[2^JMV9CJU\Y'D#H,V'/Z\JL%KI?7V%*9K4U7MH..A7D?@2(N&*Y^1RC7G?#5K M4,(,DG)Q1#1"*9T'][N*:X/K@C?'$6ZK=1*-%9_$,X3^^?C=H'L^5>>E?LC` M4!?;#&N6\&>GU>SJ]A;%%Y(Y'($/=+?.--]Q\9#`:U\E1;/.LQCLN]FE\%5Q MO&[`&BH\[U-5Z@2:O-2YWM.12S#IV$1JF90-M[.$VV5%@;8-ATU.V+!54]'I MUZ:IT=DCQ]+^^@Q/`S]NMLASERK830.&_*+A]&[QT"(G+6KQEXH+[XFB"LLM M+ZLGV4,LFONRT\F%U,6Q%0F+(D)8(_`,2-W6.$ M[[NR]"U91MXQ^!L"E).WKWKRCGBM8RI6\X%(2V()0M_MR6_#H@0UL2C%P1,( M1V1XD*[:Y?M`8<`5U09JP+<\^6BO3VXR(9GPR;MYT;N#\A()^Q[7L5.OZ0!= MG1:?&X]7!F(H!\GM&MAT8#-HC.J_I?R%EM*QB.&/[8FG6I?YM,C:BZ?=E2QS M&K0S<(F#SYW>%"6-*%V'A!<[U'!!#HO?CY_4.:W!6L6-7A<^R"YCTA='R>>1XO4E M'$6/!4%=LPF-HZN8:=^=Y1`\=6>8D'O`TH8CK05"EN%9S[9;=7##5;\WK1=( M2ZD]1(-L`F#A]IY(<,2XO*P.18*3/.]`\F:.C"WDP>\V/=%E1Z_"E4"Z)`.$1>@?B5!ZJ#F[?PH,0D+;4#;6H?5C MBK\LG5G>\H2<\@WEW![1V:8X6.8Q`7&2SEFK;C:6;%5G_/_']6,#4=B=!PL5 M35B&VMG/!BUJO%HT93,!C5K)UOZ^*NM2O6[]P9AW&!^#XAYX0TJN)/P$4$L# M!!0````(`!-GO$*T:,VGU@,``/@3```=`!P`8VLP,#`Q,SS+3DW%?*$(!58Q(,I'8`9$Q*FIK=#IA-9.![L[$/CUFX3@B)H! M%'>4!Y+0`6C!@Y M\)@C:XJBRRO'S-*S$$2&-?^9'GNK^7Q>CD?O73E^SC$,J\I71JL'Q\@U)4RY M,"F,`#@N\-C8\J`IL$>WR`ND>D17TLI-BDR2JDFZ>A!P*W.R9`Z`(O,(ZB(; MQ*D7Q'R"2AF.W0F),HIM8X;L^TQB#([@@>--9<9"*%4+CU)TE!0UB?]W9Q(I MCJES&DP0Y8A736%F0`36[]93HT7C\O-SY9\I0Y-`G\0,M<($UU)'@4#40M8J M^2CB2^!6M17]%XD'UT!(I(_'5AC$'"%2RC#V[RI$)ZSB,N=(\->0^'S`GT3L MDIEA4M-!+J*BAO:87VK8,,LDQ0=JE=EZMB:#*_SP=$VJI_6<>,C<=]TXFH0% M:Y&R00W@8F/&8A5LHH&3!#V!F+4D9=LKTKV57,!<,C/UXSM7J(33%$ MJC92]TK^UC`/%_'>Y-B>JT0>]8D\K]*GPWK8Q<1D;8^^J4(;@.23#R'1)KH2 MD;1'(NVJ4$>,$=O[;IH6=:V*WAO[J50D5.N/[X>D(?H^,"ZS/[Y?P8D?#.EA MWEKDILYP3OM5?W:68_E<4[OI7\PYR4WA0B$-\;EK#&KRL3MK.E?4:C347F,^ M=9WF-/!;]EDP'P:>S7:LU0ST]OW46^:>@ME,.M*5$=:W9(!HJA=,UVKD%: M(X\.1*[N3ZY9\\IH'\EW==XQAW4_6_&GH37O'-W5_7*V95S;1%O4FX%\?/R- M78BV%QA#.#R2'7[YA8^P9X<(;>'I%?OT:W^<[QN7-:-<^@$JO6[2-^Y:D65X MYX<=J%7SJ145?;A7[;T^M\-XQSO%EB0EE9M]Y2;11F+O$CP?4UYK!_]GUG^Y MS(3X7[#\M)W9O?A#+0=F^(+&.JR+L#OR&8\[J+W1O@7`;^LHM^%_&X)2^I== MM8C>FST:QE;?YB&Y.?[O?%QN6',BQQ8V,Y4N-_(#G2.4IK[E\L MA_[&&UL M550)``/&X:11QN&D475X"P`!!"4.```$.0$``.V=77/;.+*&[T_5^0_:[,W9 MVO)(E"U_I)*I1.T/D=_X,8?)O\O>'*'I\V6X_/3W],B(?#4WN_ MMNA___L_KZB3/D;4Q-=O=3O6_O)+Y!N> MZW^]MT/4FD\]/WS](N-L?H^]7P(\:7<[G?TV^^"+Y2=?SNDO-C[_M)]\VCHY M.6DG?TT_&KIE'R1FK?8?EQ>WHP4?7R3`6JU7./#0#1JW MDF=\&2T>T>L7H3M]]&C1D]\]8#1^_6+TM4.>A=WJ=$^KT[X-@ M%$^1']VXX=<;%,78OXVG4QLO/OJ>?8\\Y%P'3PC?/M@DTF>Q[]CTT[;W=HKP MQ/4GES;^BJ*0TO$&Z#ZZ#G`T#CPW>-&BA?MX#M_1'Z(PB[][K:/+VV7/`WP MHZSLOYW;]-MWV/;#QR!$#O77K?L<8J-MUDS`U&$W''E!&&.TKCP#%-FN-[`C M^ZV':$T)?U0]5EJ8-GOS;3R2!<=IC5AC0INA7L+1<4DQ0M+&[3EH;,=>]**U M[:6> MMRMPF8'L6Z0$<8)F;XJF]PAOR7?CJTE!E173]KSM"D>_L"X2J:RN[]*N_8(X MWR@6FD?(=Y##"D:__>S=V?*=(@7W@M%&:3TZ0@DP*VSBYO4+C/]:E^'T/HSH MN*Z4=,(K1*-?)L&LC3%]H"[Y/VUKNWL=:S5,^7NYP?7[LTW)KG$0/J)1%(=W M]CVG`L@7*V\MC?%&E$_Q9N%(K6!^5Q5$K@:MOC/&P;2";3J),AK@2;TA_7?/=J%OGX1X7CSZ>2`.\C]ZP)-2"7S(S=: MG,[=L)HX^=(2.?DAS[S,(.NAP)F7-J&Y&'#J$PU`Z<,7(U`@7(/QTL-@U2TU M!;QAK?VK&KC%WC1+5E!Q&-K-9X;GFAW]_75+?N[L'_>LX\M5WR0W4!0;V2P6 M,-_-KC0/MZS&4+(53UV-N5'=_:L#7WM5\2T.71M48/K@$E6X?F^7=/M]SPY# MN498LMO+F5756#1LB84D5M@M0.QK%[)-LA!WP9S2=D/8+DO4J17P(H/*^EV_ M>>[3GZWCX^.3!LUSP<@S-<^""E1HH8L/#M\1EI1'IIW>ODH_1SM=OT)+-MD- MM-,[9#M$F(%))V9/'6MAI:Z4*R5/KJ!Q'MY_0@KGG:S4J`1R_JXQBZ=?;@C\O(-^?17*,X%NPK'>$"XBRA6W/=A^L*LKUM$-+VC`GR) M95U;$B&-%?L#P#9EM?8`TZ+DC"D3X,T0YQ]Y1;4'.NY8.;FR,5V8FB&H.LVW MJVUC(D"Q0G\(UI@D0YV'P"-FSQ`*^_9CE%%<389\1:.Z-B$\!BO81]!R<>TJ MD:]0-5UL6].VI0+(*@3'H$U-8?$;IM9SS6J*GH]A1?T$E+I@\P'H:R#O1^/A M^Q:PF&Z"G$Q<^3H+@L@/(N(3MC,NL:M[9UR&@I$72-::X%<[6T`'F3F;&E=^ M#@2&6Z!@&_)^L_B,;*R"^J9E70="0AH,/U_(-N:O:O#/-V]&)`1*P!)I6Y#7 M`69P)+)L1A!R-!A_H0INQO^3&SW<(`=-$Y>@@Z0M')D1'3$K%BR^;F[>=@5K M]ZK;,;$K3>7&=KA8Q/CB&RY2*`6NZ`KR)MN^\0@&:NK"4;!N"$O2!$*BP2@;D]W4-^1 M8@4S!"0BN68U[3[X&!ASOGAOC!RJV@L,:SQI(L+!X(ND^]8K&1$]X3E9P%3T MO#5MVY;"8S.V`AU>%RVXC!`8UKAFBW`P^B(57F=7%MQ^+`/F6S<>F!$52>4Z M1,$K,\>HK@-$'@/&6[3*7`LX^-B<8U1GX*)QN'!-N0YPX-%WJ4EM^\5R`(PU MH`!]8^/^@XVC4]^Y1G@KC%3+@L$LP`H,:]S0B'"P`(@$:]-: MKW+DSG.@:>,C@X:%A*]KFP9$51P,F$H0H&#GN:"24I1X`Q_Y2#@PY$T0C((. MX-1LWBOP6*C2O*XZH)H+BX5(W"[3DK4W\Y)E4KVI25@FG8"RSBGDO"6@/&1\ MNPWSLYB?C:P2N<*D9+NT9+E@[-*2U6V/=VG)=FG)<'52F%WFK%WFK%WFK%WF MK*H*?6G[]B09Q]"3[,,9PJ=AB**F[0C7[/.H1MFQ'Y]&=5NRM02('A!FY0$# MS[/Z;'.XLNBY."I30-7>;+ M;S%K==I[)[QWPGLGO'?">R>\=\)[)[QWPEL7X5V:IR/PXJE_94^;#O4JC#_7 M*KK4&+`*C$3CTC0:U"6]L`XP!BN3!I%G$*I3,,/PWH?GO6\<[WT)%0[$NP?/ MNV<<[YY4NF4(WE;3*PE*31K&VUK?25"=B/F'SS2IO:BR7D7:W52WNZEN-S.U MFYG:S4SM9J9V,U.[F:G=S-1N9DKQS-3N@J_=!5^*`.\N^'H>W+L+OIZ+_.Z" M+U6(=Q=\/0OOW05?/RJ#X+-=\`6V#,FWJVTM%Z"HO-9K^[W7SZ?)'N&A?QWCT8.]VO"LX,7:TJ>^*55J,I2X5JQ^0`>( M^,+(4=\^2GG2/GARO&2N)@,/&5S[*/2@>PW#-+75U68S*&##_\"8*NUGR[VG8C`A35EY`U M`0^'6N=UBHT'KKXUK'9W?#H:!7%RV!CPY#7?LJYMM)"&Q'U@`/RAJ9O#6M$E M7YL3:1!CR#*+F@X+2Q^^^@:OQEG$8";*N68UI(CQS1\CJWEN@(9!VH^V@7!Z4Q`U@ M3:(TQ+?NU/5L?!7X2N-4X4C79FL;5C)7BVT=K'XP?0Q\\O9::K(`5=O7=RI! M@HW4]6/U@])5'!2N?0."PF&SD;C+K$90_DM2EU4/ M?RNP"RXLJX/]=/0M=C%RZ+%#VDV1,09X$.1\Z-JQ2Q*JOLVLUNST3YQ63G9W M8"EFV`5F$M=/MDL7T/`-!UO]RF MQBL&'`@R]YW!OP`#.T+#\1W"4]>W`28$ZWC4.%:U`*JX.2U-#G!'"AL0[T#W M>/',:MIL\3$HN#DM[POLBA:^88U?!1$.F3O4&N._(6\:-/G$IDG0EQ!47)FV MZI/`[X?BV]5V=E:`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`Q,*CX`![>(,>,0I)G7@31`^7=A@1 M29[,Y3J-]X])N=`_.!6(6'`@YRF89_)_SUY.B`S'5X&/T2C&]$01V#[*;3QI MW^+)\6(!@]TKO[$T=86>Z$O\QDZ.\;T-(W=*%"?H>AW/A<;ODQPB%A[(61#! M,A5PC+;QI._[M!4O%C#8?0CIY'ZVTKRS23E(@8E+U[?Q(BT40OZY/_+B3![: MIHN`6_O5?0:@!DD66M"C`.MN-8Q(#7+N@ALT]M`HZI.V&D$-Y/GF=8\3GPO+ MN`-Z;B!MD(.H'Q!'WLHW[44',;H+\HT!4'SD_6FZBE(#'`L@W(F$S93?H.FH M8`*@61Q^ONN,MF2>N\JH M!WHT_N>^R*@.Z?4E1CV!"`<@_5-=852']/KZHA[\WH6?]O*B&J0S%Q<=`E[9 MD!LF!>L\'JJ'DF)7>DM<25PL7JK4;=:_NJ$FWXMQ02H?@1["'+3%O7F!RP]A#A=*YX!9V4%MBWM!PK,>ZAPJ5=,$M M[,BWQ+RAX5@/B`]!#^R+W0(/CTO,FQF.[*A9>%:_63A4[6[GFS@3@ZX_41.,@G%#1&01"HL$H'"_)>6(T&0!LP*4MZ8MZ<)CLRLR`)4Z M\P&NRP6&-5[B%.%@]$$O65SY2X].]0-_A'SZ6X"+8<3&M:_W/"@L$((%YZUS M&Y,RP=T*:,!:_L8#,Z`B'5R'*'BCPC&JZ["%QX#Q!A6ZU!GXB)%C5&?@@M'A M$6P^=.(,>$Q8:E+;=KH<`&,-N.Q+'5T0&Y>!CQ8`B->V]-T;G'MF1A4V-5S2 M0`6^0Y-&A.[81C45])3"]M_!5%=-,B`.V\ M18U!%QZ>,8:[S6P9S^C<#V.,G`%Z)&T4^>""_")RHQCBQA`)#UJWVY5XV*V` M@%HSZ2]`EA*SEC0?9.>7!8\AY6/B`&KQ+V=,XR:D[/9*N-56Z@$`IA&=^LXUPN,`3VVBVN_L>ZC]\A(.-$4N@X8%!"Z_><85N!`7V]8T M#!5`6`3X(K%!!,[]Y"=*XMSSXC"9X@K_96/7OG<]-UH,Q\NR-QU[U_.IKPZJ MR9`%$_;T<:8P0S_90#?$%R@$C-FF6?U?I!P&AITO4QL@/W67#N>^@ M.1SZO.N'XBJ`PQ%P;01#50)$18$V$3E')^? MT/VM&]'Z@$$;)8$/$UX/`2%VD3KH4=^,[VL[C`9!/`:,-NE\XZ^R<=-Y)9`?-7?'5#AF?/3]&Q3P9PYB/8,0;Q\]!0QZ*)ES@^DMDO, MF8/8RB`&S3:<\P.I[A)SYB#.J#M+F;HC?B#576+.',09=68,P=Q1MU9"M5=XX1*!7/&(,[D M3+(LA>K.@E5WED'JSLJH.TNANK-@U9UED+JS,NJNJU#=6;#JSC)(W5D9===5 MJ.XL6'5G&:3NK(RZZRI4=Q:LNK,,4G=61MUU%:H["U;=60:I.RNC[KH*U9T% MJ^XL@]2=E5%W787JSH)5=Y9!ZL[*J+NN0G5GP:H[RR!U9V7475>ANNO"JKNN M0>JNFU%W75!UQW;O@Z;M!=ACXMXB>6$%.W[/#<.".QXA>5'I&RGX^G2+'M2/D+:XQ&B%ZMNL:83=H MFE0*H``&O$5-\*9A!]6HZY+1XH=G`4Y*=15$PZ1Q!C2V1IW$3"=]NPT1P(=P$]_;$LQ07]2\/PE-O4^*WB0$B!@\I@%O6\4X## M2$+3^B8B$!-)HP"78(CG4!%^W4<&10PI!$]J6B>!88V'1"(<*7\EO_PA)P(8%Y8`OYD$CHC(:NO<2 M'"!I"`3"ND%*)L",I((TI)J^`57I1ZT#OBINRISF7X%.2B/G0]?1JR2A-#9" M`=TX/IGD@>3U]">HZ1RBA`--6R@9-&E4!$O/VX8D\7`5#)`3CRB*LP"?(12N MKEP+[^PY:OK&2+G0>$0EAR@-#NBB=;Y:?"0.5Z/K,T0 MI31&?'G>-$!)NB\/S6P_N@M(U1B@,<(8O&'CNM%6&\J#2J,D6CAO&J>ACY(Y M^^'X=$S&@J0`MP_!4]/!L:P70SHA+J0T1`(AWS1"I'WU;#_)OH)D!IU8+,8+=4I7E3ICCX MVZ=ZL+,;IS.B-"9(019>OF&-AR@B'&D$8#?1EW@$2]$KM*UITU0!)(T"X&:! M$I<0:W%&-$\[Q+6K[1A+@"(E#SFOP//7^!P:UZYQ MZ#/GTGJ@^9/+_34_\0Z,)*BRKK$N MJ`23!@3TG#C7+91"D'"@Z6!5!DT:%(%FA@H)Q-5^8MN&!6+S9C_K$'#]G^=2 M$7[3R&>@`XKD$F]W]OSMM]B=V1[R(T41*/&A:[08@=<<=_T!M'KEEDT`G6^AQ6(Y6:4 M00&;P7:-]0APM3OU`=YSBBSKVE\*::3XJQ7NJ_;ZL2Z(??:75VWJ[=X.40+@ M_P%02P,$%`````@`$V>\0@`[;7>6*```-[<"`!T`'`!C:S`P,#$S-S@X-S(M M,C`Q,S`U,#E?;&%B+GAM;%54"0`#QN&D4<;AI%%U>`L``00E#@``!#D!``#M M75MSW#:R?C]5YS]@?5Z26BD:CBQ+NVDKR.-Y5*43,8B3&'5$B. M+.77'X)#SO""2Q/$`.!D\Q)9`AJ-_OIK@$`#^/X?FYOH)QS@R$WP&-V](._P MFV3Z+=I$A^'T\6;DH=,@2?\Z2KPGG/XN>,)1^N_T[P])\OAV:^OKUZ_?C=*B M\"+W=NC-'SU`_B'UZ5&GN^B_SOPNA^:S@8;&\5!5_- M2[Y])K^HE/^ZG95V]O?WM[*_+HK&'JU@*M;9^N7\[&;T@*?NIA?$B1N,2`.Q M]S;.?GD6CMS$"P.`7HA9@OQKLRBV27ZUZ0PWMYWOGN/QJQ_GED/H^RCT\36> MH$SUM\G+(_[A5>Q-'WVB4?:[APA/Z)KX4;1%ZF\%^)X8G[2R3UIQWI!6_B__ M]16.O'!\'(S/W#OLOT*DRL?K4V;O]BM":[6W?M2GN)2^2S7U*7J+HQA+:5NJ M65+9)[\X2U6K*(V?$QR,\;A0F\CAN&C63$:(A6`B.AQ5A/K$U\.HD)FU_,.K M*/K]VHN_7.-D%@4'=W%"(@357%F;,1Y]=Q\^;:762FD^3/^_2?Z_.7!RA_\_ MNL"MBF:DZ8IN1$Y"N+>_.[?^5FH2$L%]ZEU@\V/-Z]^)`6WYB7??C^7 M5L2YI98'4=6(;C0JFDQ_%*B9E]@:A6G8>4PV*QI/HG`J,'\2\GJ4F;0MUE=1 M&#_B43*+;]T[!B_@0->E551:).;*T;A1A%XSJ&'N_ M'X6CV10'R6U:3HQI6F,.:OI#'=6&M*T?5X]HO5$&GD411,H8091E:X(GM1/M M25H6LQB1C](11!VN5;&:0C-3`1'8\\(H+8U(<>.X4T&I.T"SAR4>@?W@.$B\ MY.4:WWLD[@?)A3M5X`94J>6PLU(?H+7.&J$7A1`I90QY'@P%\,QN;;6?DRWE M'::N%+G^:3H9?/Z`7U1A7Q>K,010%6#@GY="63&4EBM/T\PX`0.0JA?0>B=# M_X,TDHQ)-#GQW?ONV%?%Z9FK-=IE0+TH@TBA$LZZ8:;:O("WV9.MZB=#ZQ$^ M6TSQPD#M`%^1JBVRTUH7#>Y%V>K0KA]V'A[UL;W1/\D07\@[GDQPMBJGU@FJ M8@W,\BH*B!QA4;CN">9\@8I+W1F:G92)]+>1._:"^YN7Z5WH=W>!JCA]D;[2 M+@/QO`R:%S)(>:K-"WB;/9&)])5/?!B[@>LM!:?U+K9PB+PLU""PL267.F_I M?9$!=O1E,!@XV[M[>[O#TOK@A^=G9V]O;[^`O#2%&_*6NQ2K\ M!7W3J?JW1M:<0(`WW(UJSA5,^Y/2%F@[<`>KBP8]Q6<@.ZT\=P/W'F=+$1C' MET\X.HCCU$P=)YA,L9JFFJSV&:%A61R1\@8GG2(\\NDGMW^2KG"9/.#H^/D1 M![%"3V!)U;>1S]"`X0I9:504-S--$(.1NP&O:U+;^LKA-XH\&/3;D`P5!T$P M2_]'1@]T^4@2X,BXT70%[M=88? MY$517G8#??62!W2-QWCZ2%9J-Y"#B`"3:3X\?*KNT.RQ\B5\YAR.HP5M]I:: M]?C@VEBT[6#3@0J6781+'UL!XRCBM6SF`!2!$O$BM)J&;`"I[L.P@^K),9R= M=(4@3%T'PP_:K[W1(\*V^H%RV^A`N2T]4&YG#(U-Y4ORP&%']&TK1LEM%O>V M,^[=&%JMZ&;5U8R3:@E'$6_).`GF86VV%5.1I=WOTQSP]2PZ*&N%7LW/%X5%>`M1Q;%*/CK7U9EH%"L1Y+ZY3&E6Y* M\S0:\8QJOT&E][H6PJXBCV1?W.+GY%U:^HLJ+C7DJO]T`U&JKH>(6QLHKX%^ M)7505LF\2[!@JOL&M;NZ)NY<+;CD$UB]EV:7_,I;R+S!J9+C57"3(EGKO)&C MB)B>BSH,5S$X$+(1J_L+H^.:YI@"-01,%0#05^-W6OA4,Q&M"3/P=<^?@!8K M+,9G2G2K5S_?F]-.G8M7@EDGVY*6FW+0^BC&4LR%&Y$\@B>L:D!CR]4[V63J M(>#1HH(U0YD0J:IC,'JL>:&8K@6/=@+#]]'HDK/-+$OT(?3'."+9?.X>!I6F MD'5YH3^;!K!;*5JQ<"E7[^C(U`-,QJP&Q3M,NT<#*8:'5'NL:W3D:@'C)=7P M?32ZY.AX[CY[T]GT<#:=^=F0>^/ZJ>BTI7M,\DLO)Q,NJ8A`Y][#JV).UH77^#E))4:@Q-%)!6`KBVB M*PHZZKZTN"T86=OA::0DMAB?N4-0A;E;^0O+AK@!^3=S<@V4*PX4,@WKS-[J*NR;3Z]TEGW4C1: MR$8NNQ)R.2QA<8U:4"GW!WV>*/.2_+B*7[;4\+G>"LTB\ M_$7'F,B3K/?@&UL1YK,+10&RM4J=IQ],PUF09$=6\12/#0[%``2+0UT"0^@Z M-,=7@WI\KA,@O45$\MQJ6:A*$NM>4*DT#J*JL:\6JLUI(.M=PF@T+2:7)8%, M9$/918/CY]%#VGFL>K1CR]6=WLNS@;Y\9XX6]'SG M#E#T$@OIJU46,M6Q5OLY\E+;`&Z:O#JG8>TFMIK/B]=:%K')CIC%MUZ'BY"S M3\>#T8A$AYQGBNY"9DLVD5Y$4T2P&)5788?43(@%:TT\^*IK!$PKZ,T@8JG! M6_B10*.W<'1*$EH*54UAP\2%T]5P_D43`1;L1KG7@G&F=_3:653%Z1P5.SLT MB3HW:RCMPT[B;*"LL!T'06A+WJR>:=SH8*@`.&Y3MVYOS"NU2;"X4[ZXKEW- MR5.F6)T$8RG!NMND<;T^\T"D[KLU!"`5%VOP^JN1>SP]J'>:P`W?0\LKHJ6J MTZ@\R7HO'V(KTH*@K".IQOV$=3Q2U&U=5P_QU8#2U)83PO)&V!G>.4K?$0,WHW=["*H6([B6 MJV<9.KD`]$TJ8M/YMO8(F6:7:@MM[F*M;*)K]ZB-4K08T!*I-81*OS5E7?]O?U==G(>C#Z<^9%>$S>("??50?!6'ETA;6A=;$$ MI!(CQA9UY^^V9ROU9*'.?*1MA67N4G!#:%H5`2M$HSH]FJ8W)%IFR2`MH0&>.CE@=1H@EB<;SFF19 MLU+75&(<'+O<=8"=UYBZ`].(QF,('FL"B-3F]`5.E,^:Z#)UGW:B:L%@;5H6 M-,TV16$N2KF3L/NK[Y044P<:-5L;O5=6ESY=)2;[D9O@R\DMCJ9>X"K(BI5I M43>;)71L/T*CD/QV+FX#$8'$#4LB[1W"F3X!'D+H]M,7.R0U;#GHPR'^VV`L M':FNPBB9A+X7WLZB@-A5S3.'3+$Z/P!82C""RJ(X*LI;\':?")_<;;A=U3C) MY^E!8SG,YCTTNM1$OB%0U2N*',&Z)P%L55K0TH8'I,5@L=RD^9*B(7(*'U,$ MV[ZGQEJSYC6&Z M%KPWA@6&[Z/1I2_7FJ^?%1=USV^C5(8:#T'Q"YPPJ%Y&MR]]CEI'0+F7*.6"D1W;.Z M9(6R?+FNX% MY`ZUT^S!"+++=(WG.7_S.X-5LUC4G.9$[K;Z@0F_@7)):"D*%;+0KW-I)J^4 MD74$EGM"#*?MR(2,=K!(TA[7OP&P\E?J9VT5LY+;R!W/;M<&VZGIBLVB??`A5X@6/]E"M$59= M)RKQ-7Y,\4S#SKLP>3AWXY17!]EAA''G&UI!31A;;>`H)5QM*.HB4AG-:V?G M4.;UK?$X$+KU3UF180PL.`A4XB\XM`=KC=#J'!_2_Z=VS9+@+B<781#AT2PB MKP0KNPF]34MF/E\@JHEB1DD$6?TJ"ZG3FG1OC\65P'"?>U$UPUX\34!.Z)R`0I5@WZ%;.N6^@ MM'8VV]U`F0#R8NM"A.F%N#;PT@Z_\RRC;P8"54E\*T%+M-8(+NDI".=TM.)` MT:8ES5.0%JK)W68`<4=[CM(+?+*MM;3-05HJ)G'U@8V#@#8@.ZZ0QI58]MY- MVTHB-XS&7N!&+XN&,0Y.@Y$_&^.QHF^>]NV:N0>BK9JBKZ':C3VI2%21N?P3 MD8H*L<:'R<[^4K]U0LJPFO.]I)3D?D4I@_]OB7_']#(<)VG8'-^&UWCBXU%R MF'[5854[T6SQ1@(72QOQ"N^\'DI"E-=$>56KU@OY4#;6"CG&T!Q3>+H(EG/! MR/0?E6Y,OPB3PS"5Y>?BR5+.T0S?AO7)E2+JP]O3>4*YM7:BV)`*0DM)F1\2 M62@51OY!F:9;,VRU]HB:K[:SH<8ST5(*;&^[TTF9"HX,&TD;J.O#S1%A6[I69N^[HYA+? MO7S&KJ*;2'B234S[:8H`*7CW@D@EZ@T9AOV$BAC56YH=USN[9ZD!82<;@+X: MO],D/A=ZX4;DV<,GK/@D&%N\0=XVM0&2=U'1MH-?0A2IGL2P@Q$NTW6!$%H` M2O\!4<'O>=!0\W@W3[+QT9C_AG=S,-C(1H,-6Y[R!J#&&11J#WJ;&I$%[WFW M!Z&W*"BDKJH'O@7"C=R6PE`&1N(-].ZE\!]+GON&`KESR@:SS&TRQD;J"=S'-B.V9O582H MWE'JKAF2+A4`45-H\!Y97!D+G8%R%CH#XRQT!M(L=`;6><42(Z97Y!TVQ\.Y M`G(\;)J\1S97PL2+<&F/52]'\9LRL'L,4@S*YXNPY%K"12NS"R0@T.F+)6); MZ=\@!NL&BA+M@%QC)!7L`9<;6=UJ&+L5.X**Q")9S0W+GW>LY1I[/!&^=L.W MDA611&9U30:]M8-O->%C-2MRW(9,;IIQ].H<2*CK1+9Y(6R]2&@G,]MK`JVZ M11+Z,M]ZXJ=DM[W4Q@J6`2GB+0D<[58':_YFU=H@&T*A5U77#,W&@I;+AP)$ MU@"25=!;\?HB1;Q%](8O.]:"[X6#;]]3XTN7#ZY6JIG?KH8!6',BC@UT#Y]L5;@\AN/1*Q7.0Z[W0-U#66J8QBF%`6XTG/=`1.6P`?>$$B--/38NF;`V8Q++OD'='6\NMAQ)YRGWR1N,NMZORM3K,XS M,RPEN%]EE?)H7L%T'K0(I/+W`JN_&H^[\/1@?Z.!#-]#RTN=5"$",VZ?N]$7 MG)#+4Q4PLBY1-QEK[?-X.`_`\[+S"W-M<`4&)"4OH'51,_4H*C!9!S!S;^PL M3;2+,#D-XEF$QT?X,9V'I@5?TE\D7C)3L/T&:4'_1YM`(_X0F:"\+EI61J7: M%DR<@)A6XK?8(CH_^0#Z<`;3MA"M#48=OAK5G!XO2S*Q4\<_"3Y?()@7,3N6 MTH\`UWN@=Y=.B:,-V33N&9YCFJ5AQXI=N]#&[S%D&= M]!`>,.;9TG)C2D\?%=!#.RFX>1Q6K"%2\#+A\OR$#>/37(:5I'SYG1L=/KA1 MFT%T(!.'HC58;`DK8BRFMECJJ6Z**ML1R(4',W< M=X#FT,@_F$8T=K9':#W0R7G__3\V-]&OG\[__?JW7W\9//P<[^^._=I_N M/[\$'X]F7W_:C?9W/PS_^'C[$ON[3Z._!O[/R3^OSS^=;.U-OWZX_R48__RS M<_/SR]/T_L/3\^QL\M/SR^?GCK7_],_(?1^_^^.OEZ,_) M<3SX3^)/_.,@N/_CZ.S+<.^S^VDR&WQP[P_?.Z^OCD[.G??'7Z9_[7\XWS[# MN][9D^__^*;I.+\/G\\\0]/ASM?_GZ M\=@[^_CQ./[WX"+XX-U%[W\)_WCWTV!V_L-OZ/#F>G-3:J.D9'7E"6Q\V3IC M(E<31C@LT\NVQ'X0:CG%Q'W7&/N$RM#"7BLD>@V%U`2G)/4TR'XB'\JGOC^+ MLP3P^-]NY+EWGN\E+Y>3:YS,HJ#K1JA>/P(41(E6L\BXJ4$T':O;9S(2CH8>(^`#C]]#Z7><8!^.Q1X*! MZ\_WJ4^#,7Y61U.Z>*UY]R)M`+Q=UBNR$+*:5M&7"V33D=BFT)2D#]%%1&DX M+FL`C%Q&?UGRD^OY^2A_]1`&7;?,N*+-?1PT=($0O%0'994L\R$6=!3_H7;? MQ+R=JHF0TD(D^HN"@MET6>XG?'?C)21@1$JGUIPVC`W<3)7:DCNM':>U45[= MKB%<""[?T2B6,3"8A.XL,HA0@.)"ZB%3.TQ'GU=&\OE7108ANT]_XAM&7M095210=VH*U1FA) M9\D5>[)JLR/,W$E8:UV8^6##/7H,^]=VS$W<2DAIFY^F8%7*"-B>DKG6A23E M^^@B=?OFBLS?>93+Q\]K//'Q*+EQ M?1R?A>ZXZ]>Q4+S6#V.1-D+R+J90>564U4599=/9Y5`D:_[$M86FKV"(+GQ> MMP)F#9"1^^0]"(*9Z\^WJ=4)YR3P]@?F6HF;/X`"2.P.K M@QKWCADJT`@),W)OK"RU1UR1I>J4%4.HUM&3K@.$;LP7!PW[`NOX$*>GFD9$ MM@9"VEGR.F='0WI=QV'J`6/AH@HB=0Q^]0AQHOA' ML[^ZUGNX6@#XR#9[+^TNN2Y4ENGL[W=]8K$A3O<:4%T!T+R3%+2$=V4,*+`O MNJ1O88?6O'B663=I#VPJO5I3$^:HY9!CFD,.E$../1QR^'@[9CGD@#GD6,0A MB$U5<6BHED-#TQP:0CDTM(=#0S[>0[,<&H(Y-+2(0Q";JN+0MEH.;9OFT#:4 M0]OV<&B;C_>V60YM@SFT;1&'(#95Q:'7:CGTVC2'7D,Y]-H>#KWFX_W:+(=> M@SGTVB(.06RJBD,[:CFT8YI#.U`.[=C#H1T^WCMF.;0#YM".11R"V%05A]ZH MY=`;TQQZ`^70&WLX](:/]QNS''H#YM`;BS@$L:DJ#NVJY="N:0[M0CFT:P^' M=OEX[YKET"Z80[L6<0AB4U4,\NA/3"']BSB M$,2FJCBTKY9#^Z8YM`_ET+X]'-KGX[UOED/[8`[M6\0AB$V5<"A5466>0B;. M)(>(`B`.D8*6<*B,`07O19?,<*AH7LRANDE[8%-5'%*9IY"),\PA6)X"*6@/ MAWA[ZHLN&>,0,$^A;M(>V%05AU3F*63B#',(EJ=`"MK#(=Z>^J)+QC@$S%.H MF[0'-E7%(95Y"IDXPQR"Y2F0@O9PB+>GONB2,0X!\Q3J)NV!355Q2&6>0B;. M,(=@>0JDH#T'OJ MBRX9XQ`P3Z%NTA[85!6'5.8I9.(,^Z)(Q#@'S%.HF[8%-57%(99Y")LXPAV!Y M"J2@/1SB[:DONF2,0\`\A;I)>V!351Q2F:>0B3/,(5B>`BEH#X=X>^J++AGC M$#!/H6[2'MA4$8<:I^#8DZ?@\/?4';-Y"@XX3\&Q*$\!9%-5 M'%*;I^"8SE-PH'D*CCUY"@Y_3]TQFZ?@@/,4'(OR%$`V5<4AM7D*CND\!0>: MI^#8DZ?@\/?4';-Y"@XX3\&Q*$\!9%-5'%*;I^"8SE-PH'D*CCUY"@Y_3]TQ MFZ?@@/,4'(OR%$`V5<4AM7D*CND\!0>:I^#8DZ?@\/?4';-Y"@XX3\&Q*$\! M9%-5'%*;I^"8SE-PH'D*CCUY"@Y_3]TQFZ?@@/,4'(OR%$`V5<4AM7D*CND\ M!0>:I^#8DZ?@\/?4';-Y"@XX3\&Q*$\!9%-5'%*;I^"8SE-PH'D*CCUY"@Y_ M3]TQFZ?@@/,4'(OR%$`V5<4AM7D*CND\!0>:I^#8DZ?@\/?4';-Y"@XX3\&Q M*$\!9%-5'%*;I^"8SE-PH'D*CCUY"@Y_3]TQFZ?@@/,4'(OR%$`V5<2AH=H\ MA:'I/(4A-$]A:$^>PI"_ISXTFZI"H-AR]U.7#5?MJ4=&G_6_J4M7A/_VIM#Z/35_9[8>^F'L M!?>JN=H0J_/!39820H[F%6SS$19&-0^A=E?C&YP\/?CL%-F]AX:7>I:S$'B- MW3@,;C!Y4Q>/#WTWCH^\R01'.$A.4B5/IU,\]MP$^R]7$1ZE/P?W5SCRPK$B M^G90P-20+*^R*"QLH+EL5`A'F72T$(^(XZ!2`VC1`IHW07E4U)!+=W>MFO-W MM+O^Z4,WA;F!;#6>\E]7&2N9ZLR_<^*3,,J:O@B3RZSQ\6EP%87Q8ZK5+%86 M0"%MZ7V8M95ND*"8B4&3,,K=G+QMGXM"7H"6P@P_\ROE``W?A1I-UXNOK343 MABYI/-<:4,FG9#]C-[H-R7NT\Y8JI)2,+G29NF=<5"T8\8*414F8/2J\>&LX MJV#,>;C`Y$["[J*^^0I3!QJ/(7;NE:$[C_9UR0I>6.>*7H%C0`9SFB[BL9OJ M+H;?6X<`5XOAS,ZKGU@)!F&6)H(Q%X1#CX$8U&C1E<0K(K"1UN8UT***+;,O`%JYHX@ZK3HX,@@J4(/&4;CQ>VO]084`;<=/NG"%4V%.`R;& M5+8ZK>EKR6Q8C&`MW`M,8&#$Y6O4CM>VS(T5P])IMY`N>J4$-[1R35>F);6M M)74KSS&RU,Q6I0V+[>5O:P0DUX;/PJ^KF4AS!.M>)6:KPN#KO()P+J?98<10 MY7ES M_B%`)_<,7C>U#:@<)6A4A!B[=]:6'2_K(H]"'%_C"4GDO'%]')^%[KAKZB2L M#:W;02"5P&0EM5%>'67U42;`(H?BXLIP+[91-&T<@16"T1P"TUKA)+?%5!=_ M[D9?<'(:C/%S.@L([G'7LRB`!G1.IL7J@`/!O"K*ZJ*\LK$)-AQ'AE\Q#*%Q MJ@W3",9^/C9K`H[41#P3X?%LE'AAR(4HQJ#_WHHL0+2IGV?6D^@8J!&R@3(3IG/HV\.;.!K:,OL5OJ$JT8-`) MK36"2WK!O!Y\/J92\[VS$SS&D>M?=U\U!S9B^$.>KA5XAD"JHV+_-!>`KLOK MMX8'(CZTC,&(8Q1CJP!LG6#S!3%2:P:5JB6$BS"YQCY^X"A2 M_M7`;$9O!@M4+7"$(&?S"@DD-SF5@0HAM@0)$<0,W^/:1E?*2QNE8)$"A-@: M0B:9(U-OXC+`V4'-R\G!)&5:VLC-0_BUZV8=M!63*PT,G<"A(JV?'^@-)\@E M(C+?RX28_NIHB3+#_7@6,K@.P5$+%C):(;=VT"G9+DR_;E(CN^1[IV@@F]=$ MB@,'NQW=ZQ5@S<`!I"2AY(5S(=9$#B'0#`?DFT??RD4KO6#A`X;;6@*G;`WC MPHVBM(TGK.J&/$`#)B<;377@GR1%56N^/YC8L::Q],X;G$+0-0)^<#3P6!-` ME$P,%O=ISF^E*OWY-,A^RI=(-=Z^IT5%L^L>J^@2.$`M&E_:.(L\";VI@_9=C,X%$6&/[&N M:#=!;>@U[2U!Z3\@13!XZ,ILC6/NS0DQ5&(3._VIN ML5&,2O$4#K]K&A\:XBI"(VC3R#VULOSS712QH3^;!A?NM&N^&5^VSJDR5Q,6 M`;,"1I^@@F##<8]J#S5.A87*4+E8M7>?;2TURZ5(K7BS.A+.Q1KF7U:2=9*: M_,VNH%SI&-L/EKTR2[>%'M2CTG7S]M"^JBA&KO@<..HYELO5NV7`U(/!,R>[ MG]6BD%M%@^T&I5[I6MOF:D%C6*V[B2)MF*?O\S+5FP_-NPT5*;;7 M-/NJ:<<0H@O](#W5\&M@>;FMP?,PP"_SFSAN\!-.I;U\]K`_5K,_*)*N>Y-0 MH`^#K%FMXO:5K%[J/"\HJ[F!\KH69%@"L/GLFT@>Z:)#,^SBN:^JD&H"9QGV7<+>+U0IC6EZTCT&@JE%%X1>ZT@ MK@1GK0OW0.>PA:(R[+0O0K8PNBHRWKK/QW_.O"?7QT&R(F92VM"ZU`52J1UI MR9G_I8"&/]G@46QDV>[%,(NFI3&P0BV8S@5JG4"26T6[??"BY$7MVAE=INX5 M,ZH6#)+/RY8_Q9K9W[J=A8M,[ASL/NI;_V+J0".IT-!],K+T:E9-HJHU+*98 MG7-BEA)@YM$704S3C[7XP>VNQGDQ3P\8$5EV[Z'AI>;&58$J5IAH$LU1D;>: MU/"&ZKJ%40^@+56P>F:,<-P5(H%U>V->!;12RBB#9`+RR)XXRD78+'>@M+$C M'`D-V8TERI=C>)*U+L)P%!&S2;#<8LHCA%_OHDYK6E@1J"%@GVBMJZ_6EULQ MN7EP(_P0^F.V2?D>0:@8O4@;!E/N) MN,>R1^BSM+>363"^?,3DSL7@?ODPC$*_@;>C\^PI5"F&3\WK(R(`+20LG@RB M>)CV5,BVZ!8YD:T,(Y?*G`L\?G:GCS[^Y"4/UWB,I]G:E5+7:]&0KG,K<)48 MGI<+0+F$#41DH*60IN]I]KSVZ.:NU](T$C/9:@L7H1:WXS2C[3`&5".HSUV$ M7(\SZW)B7*D.)["*S'2L>!]=J7YZ?4 M66)U737(:)_W29;?7?PK*6?P/2(!((4G\#K8_>6)<^S&LPBK\`2Z4`-W:9>: M!P2%O'3#'0R&!@HHS;A0[V7;86*,O=^/PM%LBH.D=/]T\2N81Z1"YBZ1_E#W M"4@#FC(R`*HP/*4H8C1:M("*^`FTMS(>4AED# M!HX\W!PK].//,'R!-ZTWDN>]\Q>.<'P9''EQ$GEW,^(^\3F>WG5^S$PD7?L] MLWQ]6*MPQ1-7J6N0L\?EBB;7WF#0%2MN@*XK=J'SC^GC%KE1K1>O%C3"= M)-P*N<$892+,G7)O!ZO(S2@F*;$_[^59*JGX9?JK]%]W;HRSOO\_4$L#!!0` M```(`!-GO$(U`!%R'!D``'ZP`0`=`!P`8VLP,#`Q,S<_:+,O9VO+(U&V?$DE4^58]L2);[&>U;HT%RVCTS)V7W<[KW>-UN>[DU:W M8^PN?PG_AFTYC_>FCUHO4]OQW[Y*-/9R[]F_N-ZDW>UT=MOTBZ^6WWS]0CY( M??]Y-_RV<71TU`[_-_ZJ;Q5]$8LUVG]<7@R&#VAJ[EB.'YC.D#3@6Z_]\,,+ M=V@&ENN4T*O%_`;YUP[]V@[Y:,?H[NP:O[SXHU>_+I%KM=YXKHUNT;@5JOXZ M6#RAMZ]\:_ID$XW"SQX\-'[[:OC8P8KO'AP>'G1W"):=7N>(R/IGWQW.IL@) MCIW1J1-8P>+<&;O>-.S!JQ:1__GV/.[*D_N,//_!])8TMJFH-OEBFRNK_2NX MSK>6_WB+@IGG#&;3J>DM/CNV>8]L-+HA>@Y"/<]FSL@DWS;MTRGR)I8SN32] M1Q3XA"B[C^Z#&]<+QJYMN74[#*](&Y)C,EA',QL=.\[,M(D>UT]D3F,-3E^> MD.,COTM^MVKW2\O%O0'N2B3_],4DOWWGF8[_Y/IH1-KKUNT'7VB;6BR8,6SY M0]OU9QY:#9X^"DS+[IN!>6HC,E)\6>-XH\I4GOF1SJ%%]-'PEXD[;WL>T;F+ M_R8X=G@F0,T(CJCF1 M!V$FH\9Q\[8[3+5HDW7%]6B#H8%Y^\KS_EKUXOC>#\AJ+`)GL<"5/:JBV8WG M^D]H&,S\._->C.4"::%.D4I)KHZ]M'JF-Z0MXQ]31.47WN@;[2=,GA/L#!\L M.^9X[+G3-8@';G''76^$O+>O.K]TZD`Y0M9?=-0D!DL\D%XL?SVV6,@27/Q# M%MTR#:3TEHLW8QP1L$M!DT6_,O@7:((M73A98<#."FS_JB:TN8Y'4!H1E/4M M0KB0G-BF[Y=#M*1IR(B-/`^58.6B$,';C>U$-823_L9?`_QS9_>P9QQ>HND] M\LJZ)GPA:;4DHLJ9AP36-5T7,@$IV2?D9^/P\/!(`-:V.1''-2U.U3"NH.,1C+W:<02U+F&^FX0IH&8V)55A.U",0@3NOH`=H()/ MQV,4[DG`XIL6J[0=8"`187Q0TP[<>>;(M<5Q38M3V0YD.A[!>%C+ M#J0<[G(#M&3L2X>E@B`6=#H"\2@)XIMV-NDJ*QD+OX4C%F7F]"G.[98,-]G2 M:HW?;<99U>1A59^Y[TY-RX%RE2-I59>61O."I55<22@+&E>UG+AMOB^]IE0S MA^LV7A3>OF#EV+-^L':YUF9\D36ZYVT?39XUZ($*;A>HH3H[>5QH/16?F0PW MAR8":^U^K02^1V%``>8V47F*1OW%?4_OR50%\_K^VS*TA<$R)Z[)'9FU:.8[ MG]D"J.$[QS)O/(LLL7@P[P\NTH[357@"N[.U%[U3QS MWGA6_*XV:+UP5VCOMM[()@OR06QF7A2=8%\0P> M%.P]$+"_6,'#+1JA:2@=U'6IT)`N5/#1HLST8$R0NVIIT^:(WY2R[GTUP"@] M^[6S!.SV-F>SV*UH2`O#E!UL@)$-FC).,^H'`B6@HK0<0L4%FXK$V.)U65!X M8=D1R#)R8KL^=I`W@WQ.N#;C/P\+W5P2B(;C(XAW6`UWCH"B-:9895<`-A`4 M9:.VR<_)AAK:',%*)Q]X@%"XZUR?(GGJ@!0@FBQ@QG%6FL+&(M=Q"F3=RU() MF>#./$>PT@.7!PC%N\[%J:AMN),^6N0@4UVF\/7JPP<^3!E"U7756"A0(,41@_PEC;$@THZ_26`8=R<%3?_5V)!K?0?-G*`K\&$GJ.K68)J`2SX(!S M!"OM:_``H7#7W/2DHF'MB08A1Z[C%,BZ)8D2,D&3H0RAZGH:+!0HP'6W+:E< M<%^.(U@+L\!QZW9K!G14-+!GQQ2K[&+'!H(B7/\4[&9\.HXCI^Q(7N?`[>[7 M/C@X1YXYB2KW+G6`V3;D"%;::/``H6C7*9M1P.(F'696`\H:DC+@4/P/P4S* MII#7(B[G@$&1%CCVFI4.[I:4:$";T25R`_MZCKQCWT>!J!/"%-M49+S6EX^09N-1=VK8=%94#C^"!^11=<&884EM M<.R7Y88)2#R!ZU)39^:`,Z,G*1P^NL)\-)?XX#_%5W$RZY/R2'<;*-_!$%IG MKWF;Z]CF.K:YCFVN8YOKV.8ZMKF.;:YCF^OXZ7(=+!@`J:SBVK.I4^XA MM.K%55;"F[,Z?&>>5V0E`0W0+!$-18A:Y(%X0*8BD5KQ0V&HF_'8!"N[\*SL M:LC*;OV\QR98Z<&STM.0E=[J3)D"K!@=<%:,CGZL$!CH.2<05AIXMLORA[;K MSSRT"EW[*#`MNV\&YJD=;B'X`D]W_:0)QNW+7=O4XC:UN$TM;E.+V]3B-K6H M6FI1KR16K>L)V[QHR;RH:&Y!P=FP?4]-SGMJ]<]]5#XCM7V#K>@--GEGU+9/ MMA7PP7ZR3>H)M>TS;PQ^>,^\R;-=VZ?A)O73@+9X7G;[G-P:,.AS58JJPG4KCE;KL*3A0,&?:Q.ZF2Y-%^LZ6QZ,IO.['#V#DP;JX6U MG"!R(/MZC#7!=A8[)$-1PJJUI3")%4&C3^2I12RY"K%I0L,VU+61)3&B#^G) M,YF18@EUSJ?AY8%KYV;F#1_,Z+K$!F9GQ395KCU5$\7X-3^9'F6D:S]J;_-6 MN%1+&K!;#K'X`4&%.(4SP-P6U%]'^0#%[Q%*2TGE[<:UENAR_B2@];#L>#MU96/X!L!H&6[*ZZP07C_AQ1(GK1$XA:%IT M(B/Q0*)$"M()4`A_N4BBLBYP8??C%Q/E;NYFZW/`[)0PQ2K+"1N(^)'%AHF! MVC+A25;77[7LP=Q"'J0>A,#CXHMID5U<[Q99T_N9YX=!(Q@Q)1I0 M-H8N`T[\@JG4:/H*!>!3J%AFK.";?^SLM/[SY?+WO?_^YX_AT^SEJ],[&OTX MF$^^+IS/_=GS;P?>T<''[K?/=PO?/I@/?W3L#\&_;R^_G+4/I\\?)W\XHP\? MC,&'Q7PZ^3A_F5V,?WM9?'UQ.^_=A\]GXQZ:7`[;G_[MV4_#=]]^+/K?QZ=^ MY\_`'MNGCC/YUK]X[!Y^-;^,9YV/YN3DO;%WTS^[--Z?/DY_''V\W+U`!];% MW#8FH^>>_:5SV;DUKPX^V!?WKO,E.#B?/?WI??SC\FJ__?WQX[^+RS['=_7'^\:5]>/C)NPNNW)?+KV-O_\\?Q[_UWPT?/W[[ M]'[P???#M#O]\?O!/?IQOOO)GR'O*GEF``I[SHM*KV16@O"^&%:>53']6[N<%]C7TE/+RX"HT06SQZH;^ZY&)'^-M(.J_)2?!KL>),V'@ MG'&;4-KPE0,I?L=7NAU\YR'S\3XF6T*RM:TZ#?%P%["C!0GF?VD5GES;ASC-'R_3N MB3N=6KY/KF3`T,IO0H=IN08DRI_\FB#^+8H0>^<&#Y>F'^#(/DHDW*I*#[KV)U<3]P1I9CNDM8IT1[<6S2VT3`XP:L%@HI7V.+5)Y*-#.6KB6S.E1N(`0/E1'Z2 M)_6BUR9H24M6WC06XT'YD7D!*:W0ILI0LL7K0A6O)J7(S22("05SVY(G61>6 M,GA0@F06$/E[/N]8CZ?\Y_7R*&%$_XYN.%4G)O.?8DUE@Y&=_R+$.%:M' M''OUZJ'M.F/69^ M4ZIG#$H"1BN)-YDL2.JX.;>:W8J&5!9[V_MR2YRL56\SOC>W(5W")3Y:E,\& MTQ$)_3;@H!>(UY&YC-^^WUPZ(J<5K!=?(%Y;OE;._7YSV8F<5K"N?H%X;?E: M10#[,BN>\+4"C@<*Q.O*5R),V!+N>1`WTM<(UV#FL&"A3,E[H9:H#/L^ M94+N0[#+D1&<._X,M]='3]A>XB\N\`>!%;XS M/5*;)SAV1C?(&[O>U'2&Z,Z\A[IM4Z(!98DI`PZE3>YK)@EUP),A?-G*DK4& M$LJ32!PNQ-.Y$_Y$T#JW[9D?)C/]WTW/,N\MVPH6U^-E_T0CE'IMJAQ.UD21 M4BZUI$-"UVLG/.%Z[5T@'Y#4M%@=YF,&",J+4#I`A)CCT<@B*)GV,@8[=T;H M!8Z@8O'JIB[7(T,9D[F3G]1J;EIV-+]O'G#L#,A53K0FAK``$\J2U`=*&"I] M0?<#*R#CR0,U?IPV])A@'(PH?S*+*"14NS']H.^&10'PM+?P+Z"S&>X5X&QC M-Z%T\J$<2!%]1Q*S$C1`@0W5-#A$D^LX!5_>WC]5`3S^X@A6>I;P`*'T2#PH M0-6)9FM4L69@VLB_<,V1Z)JT5KRZR]%Z9"A=,H\1'#O.S+27BL,DMXLD*ALN M%7:?\B`W:9%2!2KGS1"J[BQAH4`YD7EK(*G+.?9"PN'1%W^7@2U7X;6?`P;E M1EZE@Z0RQM&1Z/V-G#BE5_Q\YRD!$I_'R"@A>J,P)TXG!E:7!H\$D@""#'1A M&>AJQ4!WQ8!`&"_(@.@MS9PXG1A87<0T.C*?%,VHL0?+P9Y6'.PE.!`Y+"#( M@>CMUYPXG3CH)3B0>>,_H\8^+`?[6G&PG^"@J5@:JW$`R\&!5AP<)#B0>0@_ MH\8A+`>'6G%PF."@J;@9JW$$R\&15AP<)3B0>8,^J086"!DAA^*TX6#9^9@# MF7OI&34@8^10G$X<&`D.9#XOD%$#,DH.Q>G$03?!@;B9`,V3C:TBI.-1)S< M;2Y.-F#C9$.K.-E(Q,G=YN)D`S9.-K2*DXU$G-QM+DXV8.-D0ZLXV4C$R=WF MXF0#-DXVM(J3C42+D;B).[LJ,D^D-(O"RGQS!2O/"`R1F M2&84314"+@/*%*OLO2HV$#$O\@JW465ND>F[S@"1>W=H=&*;OM^WQE@#W-$S MW+7SZ12-+#-`]N+&0T-$[KC>(,]R12LE`BB@Q3P4`9B.BUV9T?Y*<=([_\SU M0J6OW.`Z5'MT[MQXKO^$^R- MB)B9^IF(JJR\MR8/R`\^S;!"R+,7<':-)UG=>^)./\PGW>C`'D"%;:N^,!$A/41/:C M4#%`^\>6KX.SQT$G9DWDU`$P;YOD3/WEB@$))6JO?K)"H&0@8)UP3G%P92?2 MNJ+@QI[<2OE9?4B!+^BZ9^7:4-==+XE1S*!0.7Y1`A-%>+$1<"9(-/];H@%E M+6$9<&+:ZF&4)^].*N?V>^(-$Y5ZH)I3W$:F$]RY M>'SU(TV`B60VHW!,71ZJF$N!`QZB1%X[*-S5N1X?C['KB_4;/+C/HM%`V5:T M60V9,,4['!%X=8 M#6@S#SG5KXT]>2=-LFK%!Y.6)R.*7]2A&^ARSJ)(45&C97@S%-&QUY/X+`&S M9YLR&,7'!36COU*31<=S''1-T`;JYK,% M*^U'\0")*9)Z;:9`(;!Z^ES9REJ_-9#$-,D[SU*@$<1>+E.L3M1D]G![]5,Z M`*R0TT_BI>N8O;E[L+Q@ M`>M6%,M4VIE@P!!S(K-@2$87*,>!*5992\<&(N9%WAF1M#(0KD&11$VXR+H! M]4]WB-$`RH`NX"=PEW<^(U8!?'GG259W4>?B0?DY$*G($7;\33O9[PNL0(3( MF^SG*4#02X"KP:`J2+#5APZL.]U%@6G;?#,Q7]5)-;.QJCI`"@36O*\3% M-0!27AEARAJ/;*?IX*0:,X;8FS81\0EF_ M4*)_!0``"1<``!D`'`!C:S`P,#$S-S@X-S(M,C`Q,S`U,#DN>'-D550)``/& MX:11QN&D475X"P`!!"4.```$.0$``.U86W/:.!1^WYG]#ZJ?=J?CV(90+A.8 MR0))"3AI(=DD[70ZPI:)BBP[DLPEG?[WE7P!#)307=K9V6U>8H[.Y3L77:'KX!Q1Q*!`+AC.`6[^)OS?@0Z:@1\.'`PZ5,A51^`)DC0Z04S^ENL/0H0U MPYA.IT>.9.4.9H@'$7,05P2@ZPV@_G[]Y409:3*D3-3`&X\X#\B&8^83RVFS("*YK*S85Y2A@(Z-@FD4#4RX@ M=9"6\CMCTY3ZRI5*N;`0"X,I8OP!L@2AH2R:);.J`0'9"(E+Z",>0@?M(9'" MXCE,TV*&R#+N[-X@]B#C96S!&V/GR#D:!1.#,:6VH)N67K0R9AI0&OG;'78% M,\0\1(9DTB478MC)Y"*NJR6>-Q5Q(UM0X*IY6S."Z7B;'U:U6C7BU8QU@S.? M!;4\A%QF`1'D(RK.`N:WD`B/VHJ1C4-8[]D*A:B6D/#'EU M;;5B]"S/'PD<'DFP&2MD#@L(VATL(V1!*'<)EM%>1B11L"&=#Z!:-J1-1'I+ MZ)JQ",(A70L9^N&N29MB[P?[IZTB2G>XMQW2)\#R0_W3]IT M(K(M>YL>*H%KZ1-0'S?]SK-G:F*B%3B1.CE.J=NF`HMY1VYLYL!$QX`<%!/NV'5]_8%M?5JBFH MLLE7C4)A)#!`B@-\7B#Y(CE6T(`5."##`U)`($8$%"2PP+2]ZOYK11>_"]_? MVG\>?WA_YX31[)Z6JNY3>3*ZG].;5C0]+[-JN5OX=',]YZ0\<9Y,]NW; M,Z/B3[NC.^I>7%B#B_G$'W4GLZCGG<_F][/`?!T\W)QY)32R'>/M2T9"YX]/ M3_/6H]?FYCM!/-*F=/2IU1L7*O?PUHO,+APU7UO';UIGMO6Z/?:?JEV[V$-E MW)L0:^1.2^36M,T^O"Q?D-XPH+>BW(G"=ZQ[9U^^,AX[_`K>=Z+C9C21U.KH MU6,G.CWNV>\\4GCJ=&=&I?*678O+8&;?H_.KZ5W'M!"'=E3RNH_V>3AK-=]" M0LYX8(VG]0^@.>BGS^>#;$WU$'4C@D[EHQ(258U7H7KQRS)LST)$.>*JQJUD MI^W-W7AVUZBS-E,G/Q.-\78`"YT@4_K_*/H#IC,-7'L&U:/AFD'*PT!B4)$O MY'.YFW6[P^O)+.23F:H$J4[P>:GUR[94_DSDYI6)N4,"'C&TO-5:2$!,6E#` M=M)#\7]V;7Y7$\\\MU35%-7%N0"Q=G4F2(""`CYG8'[>GGO7WXF1ZWZ31MG8 MZ)07#;3L+F20`-T8=.R:J"2#&!5HI6^'B/JE9W*Z(NE602]:1S/NQDW"WX"Q M;%.^#48F=Q`8Z7:E:*1&6/M!(8SEI/1X\"*!6*\60/:`LFM4]!48VT3D?WTI M^BT`]A@][1..5MV82SX]<.!>QW)NQ-+FDF(BW^^J"TYX>22%L8C4ZCD+ MHC`S@J7ZY'1=;`Q0````( M`!-GO$+%!.&?41P``%1Z```9`!@```````$```"D@0````!C:S`P,#$S-S@X M-S(M,C`Q,S`U,#DN>&UL550%``/&X:11=7@+``$$)0X```0Y`0``4$L!`AX# M%`````@`$V>\0K1HS:?6`P``^!,``!T`&````````0```*2!I!P``&-K,#`P M,3,W.#@W,BTR,#$S,#4P.5]C86PN>&UL550%``/&X:11=7@+``$$)0X```0Y M`0``4$L!`AX#%`````@`$V>\0DA@)-YT%P``YX4!`!T`&````````0```*2! MT2```&-K,#`P,3,W.#@W,BTR,#$S,#4P.5]D968N>&UL550%``/&X:11=7@+ M``$$)0X```0Y`0``4$L!`AX#%`````@`$V>\0@`[;7>6*```-[<"`!T`&``` M`````0```*2!G#@``&-K,#`P,3,W.#@W,BTR,#$S,#4P.5]L86(N>&UL550% M``/&X:11=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`$V>\0C4`$7(<&0`` M?K`!`!T`&````````0```*2!B6$``&-K,#`P,3,W.#@W,BTR,#$S,#4P.5]P M&UL550%``/&X:11=7@+``$$)0X```0Y`0``4$L!`AX#%`````@`$V>\ M0EF_4*)_!0``"1<``!D`&````````0```*2!_'H``&-K,#`P,3,W.#@W,BTR M,#$S,#4P.2YX`L``00E#@``!#D!``!02P4&``````8` ,!@!*`@``SH`````` ` end XML 15 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading PowerShares Fundamental Emerging Markets Local Debt Portfolio
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

The PowerShares Fundamental Emerging Markets Local Debt Portfolio (the "Fund") seeks investment results that generally correspond (before fees and expenses) to the price and yield of the Citi RAFI Bonds Sovereign Emerging Markets Extended Local Currency Index (the "Underlying Index").

Expense [Heading] rr_ExpenseHeading Fund Fees and Expenses
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock

This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund ("Shares"). Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below.

Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock

The Fund pays transaction costs, such as commissions, when it purchases and sells securities (or "turns over" its portfolio). A higher portfolio turnover will cause the Fund to incur additional transaction costs and may result in higher taxes when Fund Shares are held in a taxable account. These costs, which are not reflected in Total Annual Fund Operating Expenses or in the example, may affect the Fund's performance. At the date of this Prospectus, the Fund does not have an operating history and turnover data therefore is not available.

Expense Exchange Traded Fund Commissions [Text] rr_ExpenseExchangeTradedFundCommissions Investors may pay brokerage commissions on their purchases and sales of Shares, which are not reflected in the table or the example below.
Other Expenses, New Fund, Based on Estimates [Text] rr_OtherExpensesNewFundBasedOnEstimates "Other Expenses" are based on estimated amounts for the current fiscal year.
Expense Example [Heading] rr_ExpenseExampleHeading Example
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock

This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds.


This example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell all of your Shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. This example does not include the brokerage commissions that investors may pay to buy and sell Shares.

Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Although your actual costs may be higher or lower, your costs, based on these assumptions, would be:
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock

The Fund generally will invest at least 80% of its total assets in the bonds issued by the national governments of emerging market countries that comprise the Underlying Index. The Underlying Index measures the potential return of a portfolio of bonds issued by the national governments of emerging market countries, all in the respective local currency. Research Affiliates, LLC ("RA") and Citigroup Index LLC ("Citigroup" or the "Index Provider") jointly select the emerging market countries from a set of existing indices that Citigroup has produced that measure government bond markets. To be included in the Underlying Index, countries must have a domestic sovereign debt rating of at least "CC" by Standard & Poor's ("S&P") and "Ca" by Moody's Investors Service, Inc. ("Moody's").


Strictly in accordance with its existing guidelines and mandated procedures, Citigroup selects bonds from the eligible emerging market countries for inclusion in the Underlying Index that have at least one year to maturity. Using RA's a proprietary weighting methodology, the Index Provider annually weights the bonds of each selected country in the Underlying Index based on that country's composite rankings in four fundamental measures of a country's economic strength: gross domestic product, population, land area and energy consumption. As of October 31, 2012, the Underlying Index included bonds issued by 18 national governments: Brazil, Chile, China (Offshore), Colombia, the Czech Republic, Hungary, Indonesia, Israel, Malaysia, Mexico, Peru, the Philippines, Poland, Russia, South Africa, South Korea, Thailand and Turkey.


The Fund does not purchase all of the securities in the Underlying Index; instead, the Fund utilizes a "sampling" methodology to seek to achieve its investment objective.


Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries.

Strategy Portfolio Concentration [Text] rr_StrategyPortfolioConcentration Concentration Policy. The Fund will concentrate its investments (i.e., invest more than 25% of the value of its net assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries.
Risk [Heading] rr_RiskHeading Principal Risks of Investing in the Fund
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

The following summarizes the principal risks of the Fund.


Fixed-Income Securities Risk. Fixed-income securities are subject to interest rate risk and credit risk. Interest rate risk refers to fluctuations in the value of a fixed-income security resulting from changes in the general level of interest rates. When the general level of interest rates goes up, the prices of most fixed-income securities go down. When the general level of interest rates goes down, the prices of most fixed-income securities go up. Fixed-income securities with longer maturities typically are more sensitive to changes in interest rates, making them more volatile than securities with shorter maturities. Credit risk refers to the possibility that the issuer of a security will be unable and/or unwilling to make timely interest payments and/or repay the principal on its debt. Debt instruments are subject to varying degrees of credit risk, which may be reflected in credit ratings. There is a possibility that the credit rating of a fixed-income security may be downgraded after purchase, which may adversely affect the value of the security.


Sovereign Debt Risk. Risks of sovereign debt include the availability of sufficient foreign exchange on the date a payment is due, the relative size of the debt service burden to the economy as a whole, and the government debtor's policy towards the International Monetary Fund and the political constraints to which a government debtor may be subject. The governmental authority that controls the repayment of sovereign debt may be unwilling or unable to repay the principal and/or interest when due in accordance with the terms of such securities due to the extent of its foreign reserves. If an issuer of sovereign debt defaults on payments of principal and/or interest, the Fund may have limited legal recourse against the issuer and/or guarantor. In certain cases, remedies must be pursued in the courts of the defaulting party itself, and the Fund's ability to obtain recourse may be limited.


Emerging Markets Sovereign Debt Risk. Government obligors in emerging market countries are among the world's largest debtors to commercial banks, other governments, international financial organizations and other financial institutions. Historically, certain issuers of the government debt securities in which the Fund may invest have experienced substantial difficulties in meeting their external debt obligations, resulting in defaults on certain obligations and the restructuring of certain indebtedness. Such restructuring arrangements have included obtaining additional credit to finance outstanding obligations and the reduction and rescheduling of payments of interest and principal through the negotiation of new or amended credit agreements.


Currency Risk. The Fund invests in the bonds of governments located in emerging market countries and much of the income received by the Fund will be in foreign currencies. Because the Fund's net asset value ("NAV") is determined in U.S. dollars, the Fund's NAV could decline if the currency of the non-U.S. markets in which the Fund invests depreciate against the U.S. dollar, even if the value of the Fund's holdings, measured in the foreign currencies, increases.


Non-Investment Grade Securities Risk. The Fund may invest in securities that are rated below investment grade (i.e., securities rated below "BBB" by S&P or "Baa" by Moody's); however, the Fund will invest at least 80% of its total assets in bonds issued by national governments of countries that have a domestic sovereign debt rating of at least "CC" by S&P and "Ca" by Moody's. Non-investment grade securities and unrated securities of comparable credit quality are subject to the increased risk of an issuer's inability to meet principal and interest payment obligations. These securities may be subject to greater price volatility due to such factors as interest rate sensitivity, negative perceptions of the non-investment grade securities markets generally, real or perceived adverse economic conditions and less secondary market liquidity. If the issuer of non-investment grade securities defaults, the Fund may incur additional expenses to seek recovery.


Liquidity Risk. Liquidity risk exists when a particular investment is difficult to purchase or sell. If the Fund invests in illiquid securities or current portfolio securities become illiquid, it may reduce the returns of the Fund because the Fund may be unable to sell the illiquid securities at an advantageous time or price.


Call Risk. If interest rates fall, it is possible that issuers of callable securities with high interest coupons will "call" (or prepay) their bonds before their maturity date. If an issuer exercised such a call during a period of declining interest rates, the Fund may have to replace such called security with a lower yielding security. If that were to happen, the Fund's net investment income could fall.


Valuation Risk. The Fund will invest in foreign bonds and, because foreign exchanges may be open on days when the Fund does not price its shares, the value of the non-U.S. securities in the Fund's portfolio may change on days when you will not be able to purchase or sell your Shares.


Portfolio Turnover Risk. The Fund's Underlying Index rebalances monthly and, as a result, the Fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index. This may result in a high portfolio turnover rate. A portfolio turnover rate of 200%, for example, is equivalent to the Fund buying and selling all of its securities two times during the course of a year. A high portfolio turnover rate (such as 100% or more) could result in high brokerage costs for the Fund. A high portfolio turnover rate also can result in an increase in taxable capital gains distributions to the Fund's shareholders and an increased likelihood that the capital gains will be taxable at ordinary rates.


Market Risk. Securities in the Underlying Index are subject to market fluctuations. You should anticipate that the value of the Shares will decline, more or less, in correlation with any decline in value of the securities in the Underlying Index.


Market Trading Risk. The Fund faces numerous market trading risks, including the potential lack of an active market for the Shares, losses from trading in secondary markets, and disruption in the creation/redemption process of the Fund. Any of these factors may lead to the Shares trading at a premium or discount to the Fund's NAV.


Non-Correlation Risk. The Fund's return may not match the return of the Underlying Index for a number of reasons. For example, the Fund incurs operating expenses not applicable to the Underlying Index, and incurs costs in buying and selling securities, especially when rebalancing the Fund's securities holdings to reflect changes in the composition of the Underlying Index. Additionally, the Fund's use of a representative sampling approach may cause the Fund not to be as well-correlated with the return of the Underlying Index as would be the case if the Fund purchased all of the securities in the Underlying Index in the proportions represented in the Underlying Index. In addition, the performance of the Fund and the Underlying Index may vary due to asset valuation differences and differences between the Fund's portfolio and the Underlying Index resulting from legal restrictions, cost or liquidity constraints.


Sampling Risk. Although it may hold as many securities as necessary to achieve its investment objective, the Fund, by using a representative sampling approach, generally will hold a smaller number of securities than the Underlying Index. As a result, an adverse development to an issuer of securities that the Fund holds could result in a greater decline in NAV than would be the case if the Fund held all of the securities in the Underlying Index. To the extent the assets in the Fund are smaller, these risks will be greater.


Cash Transaction Risk. Unlike most exchange-traded funds ("ETFs"), the Fund effects creations and redemptions primarily for cash, rather than principally for in-kind securities, because of the nature of the Fund's investments. As such, investments in the Fund may be less tax efficient than an investment in conventional ETFs.


Index Risk. Unlike many investment companies, the Fund does not utilize an investing strategy that seeks returns in excess of the Underlying Index. Therefore, the Fund would not necessarily buy or sell a security unless that security is added or removed, respectively, from its Underlying Index, even if that security generally is underperforming.


Non-Diversified Fund Risk. Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase the Fund's volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund's performance.


Issuer-Specific Changes. The value of an individual security or particular type of security may be more volatile than the market as a whole and may perform differently from the value of the market as a whole.


The Shares will change in value, and you could lose money by investing in the Fund. The Fund may not achieve its investment objective.

Risk Lose Money [Text] rr_RiskLoseMoney The Shares will change in value, and you could lose money by investing in the Fund.
Risk Nondiversified Status [Text] rr_RiskNondiversifiedStatus Because the Fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in Share price than would occur in a diversified fund. This may increase the Fund's volatility and cause the performance of a relatively small number of issuers to have a greater impact on the Fund's performance.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading Performance
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock

As of the date of this Prospectus, the Fund has not commenced operations and therefore does not have a performance history. Once available, the Fund's performance information will be accessible on the Fund's website at www.invescopowershares.com and will provide some indication of the risks of investing in the Fund.

Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns Once available, the Fund's performance information will be accessible on the Fund's website at www.invescopowershares.com and will provide some indication of the risks of investing in the Fund.
Performance One Year or Less [Text] rr_PerformanceOneYearOrLess As of the date of this Prospectus, the Fund has not commenced operations and therefore does not have a performance history.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.invescopowershares.com
PowerShares Fundamental Emerging Markets Local Debt Portfolio
 
Risk/Return: rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.50%
Other Expenses rr_OtherExpensesOverAssets none [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.50%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 51
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 160
[1] "Other Expenses" are based on estimated amounts for the current fiscal year.
XML 16 FilingSummary.xml IDEA: XBRL DOCUMENT 2.4.0.6 Html 3 40 1 true 2 0 false 2 false false R1.htm 000001 - Document - Document and Entity Information Sheet http://powershares.com/20130509/role/DocumentAndEntityInformation Document and Entity Information false true R2.htm 020000 - Document - Risk/Return Summary {Unlabeled} - PowerShares Fundamental Emerging Markets Local Debt Portfolio Sheet http://powershares.com/20130509/role/DocumentRiskReturnSummaryUnlabeledPowerSharesFundamentalEmergingMarketsLocalDebtPortfolio Risk/Return Summary - PowerShares Fundamental Emerging Markets Local Debt Portfolio false false R5.htm 020003 - Disclosure - Risk/Return Detail Data {Elements} - PowerShares Fundamental Emerging Markets Local Debt Portfolio Sheet http://powershares.com/20130509/role/DisclosureRiskReturnDetailDataElementsPowerSharesFundamentalEmergingMarketsLocalDebtPortfolio Risk/Return Detail Data - PowerShares Fundamental Emerging Markets Local Debt Portfolio false false R6.htm 040000 - Disclosure - Risk/Return Detail Data {Elements} Sheet http://xbrl.sec.gov/rr/role/RiskReturnDetailData Risk/Return Detail Data true false All Reports Book All Reports ck0001378872-20130509.xml ck0001378872-20130509.xsd ck0001378872-20130509_cal.xml ck0001378872-20130509_def.xml ck0001378872-20130509_lab.xml ck0001378872-20130509_pre.xml true true