Palisades Water Index

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The Palisades Water Index (ZWI) is a modified equal-dollar weighted stock market index. It is designed to track the performance of companies engaged in the global water industry such as pump and filter manufacturers, water utilities, and irrigation equipment manufacturers. The index was set at 1000 as of December 31, 2003.

As of February 2006, the components of the index included the following companies:

The PowerShares Water Resources Fund (PHO) is based off of this index.

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