PowerShares Active Low Duration Fund (the Fund) seeks to provide total return by investing in a portfolio of the United States Government, corporate and agency debt securities selected by Invesco World-Wide Fixed Income. The Fund seeks to outperform its benchmark, Barclays Capital 1-3 Year U.S. Treasury Index (the Index), by applying an actively-managed, top-down portfolio construction and bottom-up security selection total return strategy. The Fund invests at least 80% of its assets in a portfolio of United States government, corporate and agency debt securities. The Fund is limited to 25% of its total assets in non-investment grade securities. The Fund�s investment advisor is Invesco PowerShares Capital Management LLC. Invesco Institutional, Inc. is the Fund�s sub-advisor.