POWERSHARES DB G10 CURRENCY HARVEST FUND (NYSEARCA:DBV) Files An 8-K Entry into a Material Definitive Agreement
Item1.01.
| Entry into a Material Definitive Agreement. |
Effective November29, 2016, Invesco PowerShares Capital
Management LLC as Managing Owner of PowerShares DB G10 Currency
Harvest Fund (the Fund), entered into an Amended
and Restated Commodity Futures Customer Agreement (the
Agreement) with Morgan Stanley Co. LLC
(Morgan Stanley), to which the Commodity Broker
will act as the clearing broker and as custodian of the Funds
assets in connection with the clearing of transactions and will
perform such other services for the Fund as the Managing Owner
may from time-to-time request.
In respect of the transactions effected to the Agreement, the
Commodity Broker will charge the Fund a fee for the services it
has agreed to perform, including brokerage charges, giveup fees,
commissions and services fees as may be agreed upon by the Fund
and the Commodity Broker; exchange, clearing house, NFA or other
regulatory fees; the amount necessary to hold Commodity Broker
harmless against all taxes and related liabilities of the Fund;
any debit balance or deficiency in the Funds account; interest on
any debit balances or deficiencies in the Funds account and on
monies advanced to the Fund; and any other agreed upon amounts
owed by the Fund to the Commodity Broker in connection with the
Funds account or transactions therein.
The Agreement is terminable by the Fund at any time by written
notice to the Commodity Broker, or by the Commodity Broker
without penalty upon ten (10)days prior written notice.
The Agreement provides that except to the extent of its gross
negligence, fraud or willful misconduct, the Commodity Broker
shall not be liable for any loss, liability or expense incurred
by the Fund in connection with or arising out of this Agreement,
transactions in or for the Fund or any actions taken by the
Commodity Broker at the request or direction of the Fund.
The foregoing description is a summary, does not purport to be a
complete description of the Agreement, and is qualified in its
entirety by reference to the Agreement, a copy of which is filed
with this Current Report on Form 8-K as Exhibit 10.1 and
incorporated herein by reference.
| Item9.01. | Financial Statements and Exhibits. |
| (d) | Exhibit. |
|
Exhibit No. |
Description |
|
| 10.1 | Commodity Futures Customer Agreement |
2
About POWERSHARES DB G10 CURRENCY HARVEST FUND (NYSEARCA:DBV)
PowerShares DB G10 Currency Harvest Fund (the Fund) is an index tracking fund and does not utilize any trading system, whether discretionary, systematic or otherwise. The Fund offers common units of beneficial interest (the Shares) only to certain eligible financial institutions (the Authorized Participants) in one or more blocks of 200,000 Shares, called a Basket. The Index is designed to reflect the return from investing on a 2:1 leveraged basis in long currency futures positions for certain currencies associated with relatively high yielding interest rates and in short currency futures positions for certain currencies associated with relatively low yielding interest rates. DB Commodity Services LLC serves as the managing owner, commodity pool operator and commodity trading advisor of the Fund. POWERSHARES DB G10 CURRENCY HARVEST FUND (NYSEARCA:DBV) Recent Trading Information
POWERSHARES DB G10 CURRENCY HARVEST FUND (NYSEARCA:DBV) closed its last trading session 00.00 at 25.32 with 6,117 shares trading hands.
