PowerShares Insured New York Municipal Bond Portfolio (the Fund) is based on the Merrill Lynch New York Insured Long-Term Core Municipal Securities Index (the Index). The Index is designed to track the performance of AAA-rated, insured, tax-exempt, long-term debt publicly issued by New York or Puerto Rico or their political subdivisions. The Index is adjusted monthly and its constituents are capitalization-weighted based on their current amount outstanding. The Fund’s investment advisor is Invesco PowerShares Capital Management LLC.