<DOCUMENT>
<TYPE>40-17G
<SEQUENCE>1
<FILENAME>h65462e40v17g.txt
<DESCRIPTION>PURSUANT TO RULE 17G-1(G)
<TEXT>
<PAGE>

January 21, 2009

VIA EDGAR SUBMISSION

Securities & Exchange Commission
Judiciary Plaza
450 Fifth Street, N.W.
Washington, D.C. 20549

Re:  PowerShares Exchange-Traded Fund Trust, File No. 811-21265
     PowerShares Exchange-Traded Fund Trust II, File No. 811-21977
     PowerShares Actively Managed Exchange-Traded Fund Trust, File No. 811-22148
     PowerShares India Exchange-Traded Fund Trust, File No. 811-22147

Ladies and Gentlemen:

Enclosed for filing pursuant to Rule 17g-1(g) of the Investment Company Act of
1940, as amended (the "Act") are the following documents regarding the joint
insured fidelity bond for the above-referenced investment companies:

     1.   A copy of the Investment Company Blanket Bond riders.

     2.   A copy of the Resolution to the Consideration of the Fidelity Bond.

     3.   A statement showing the amount of the single insured bond which the
          investment company would have provided and maintained had it not been
          named as an insured under a joint insured bond;

     4.   A statement as to the period for which premium has been paid; and

     5.   A copy of the Agreement Regarding Allocation of Recoveries Under Joint
          Insured Bond.

If you should need any additional information, please contact me at
(630)868-7161.

Sincerely,


/s/ Harold Bruce Bond

Harold Bruce Bond
Chief Executive Officer
PowerShares Exchange-Traded Fund Trust
PowerShares Exchange-Traded Fund Trust II
PowerShares Actively Managed Exchange-Traded Fund Trust
PowerShares India Exchange-Traded Fund Trust

CC:  Kevin R. Gustafson

<PAGE>

                          ICI MUTUAL INSURANCE COMPANY,
                             A RISK RETENTION GROUP

                         INVESTMENT COMPANY BLANKET BOND

                                   RIDER NO. 9

INSURED                                                              BOND NUMBER

POWERSHARES EXCHANGE - TRADED FUND TRUST                              07722108B

EFFECTIVE DATE                 BOND PERIOD             AUTHORIZED REPRESENTATIVE


                       MAY 1, 2008 TO MAY 1, 2009      /S/ JOHN T. MULLIGAN

In consideration of the premium charged for this policy, it is hereby understood
and agreed that Item 1 of the Declarations, Named Insured Company, shall include
the following as of the effective date indicated:

<TABLE>
<CAPTION>
FUND NAME                                                        EFFECTIVE DATE
---------                                                      -----------------
<S>                                                            <C>
-    PowerShares Active U.S. Real Estate Fund, a series of:    November 20, 2008
</TABLE>

PowerShares Actively Managed Exchange-Traded Fund Trust

Nothing herein contained shall be held to vary, alter, waive or extend any of
the terms, conditions, provisions, agreements or limitations of this policy
other than as above stated.

<PAGE>

RESOLVED, that giving due consideration to the value of the aggregate assets of
the PowerShares Actively Managed Exchange-Traded Fund Trust (the "Active
Trust"), the access to such assets, the type and terms of the arrangements made
for the custody and safekeeping of such assets, the nature of the securities in
the Active Trust's portfolios, the nature and method of conducting the Active
Trust's operations, and the accounting procedures and controls of the Active
Trust, the coverage against larceny and embezzlement provided under a fidelity
bond (the "Bond") issued by ICI Mutual Insurance Company in the amount of $10
million is deemed by the Board of Trustees, including a majority of Trustees who
are not "interested persons" of the Active Trust (as defined in Section 2(a)(19)
of the 1940 Act), to be adequate as to amount, type and form and in the best
interests of the PowerShares Active U.S. Real Estate Fund (the "Fund"), and
therefore, the appropriate officers of the Active Trust be, and they hereby are,
and each hereby is, authorized to cause the Fund to be added to the Bond; and it
is further

RESOLVED, that the officers of the Active Trust are authorized and directed to
add the Fund to the joint allocation agreement among the Active Trust and
PowerShares Exchange-Traded Fund Trust, PowerShares Exchange-Traded Fund Trust
II and PowerShares India Exchange-Traded Fund Trust concerning the Bond, such
agreement being in substantially the form described at this Meeting; and it is
further

RESOLVED, that the proper officers of the Active Trust be, and they hereby are,
authorized and directed at all times to take all actions necessary to assure
compliance with these resolutions and said Rule 17g-1 under the 1940 Act.

<PAGE>

AMOUNT OF THE SINGLE INSURED BOND WHICH EACH INVESTMENT COMPANY WOULD HAVE
PROVIDED AND MAINTAINED HAD EACH COMPANY NOT BEEN NAMED AS AN INSURED UNDER A
JOINT INSURED BOND

Had the following investment companies not been named as insured under a joint
insured bond, pursuant to section 17g-1(g)(1)(B)(iii), each of them would have
provided and maintained a single insured bond in the amounts set forth below:

     1.   PowerShares Active US Real

          Estate Fund   $100,000.00


/s/ Harold Bruce Bond                   /s/ January 14, 2009
-------------------------------------   ----------------------------------------
Harold Bruce Bond                       January 14, 2009

<PAGE>

                    PERIOD FOR WHICH PREMIUMS HAVE BEEN PAID

The premiums for the POWERSHARES EXCHANGE-TRADED FUND TRUST, POWERSHARES
EXCHANGE-TRADED FUND TRUST II, POWERSHARES INDIA EXCHANGE-TRADED FUND TRUST, AND
POWERSHARES ACTIVELY MANAGED EXCHANGE-TRADED FUND TRUST have been paid for the
period May 1, 2008 through May 1, 2009.


By: /s/ Harold Bruce Bond
    ---------------------------------
    Harold Bruce Bond

January 14, 2009

<PAGE>

                                  FIDELITY BOND
                         INSURANCE ALLOCATION AGREEMENT

     THIS INSURANCE ALLOCATION AGREEMENT (the "Agreement") is made as of
November 20, 2008, by and among PowerShares Exchange-Traded Fund Trust, a
Massachusetts business trust, for itself and on behalf of each series thereof
now or hereafter existing, PowerShares Exchange-Traded Fund Trust II, a
Massachusetts business trust, for itself and on behalf of each series thereof
now or hereafter existing, PowerShares India Exchange-Traded Fund Trust, a
Massachusetts business trust, for itself and on behalf of each series thereof
now or hereafter existing, and PowerShares Actively Managed Exchange-Traded Fund
Trust, a Delaware statutory trust, for itself and on behalf of each series
thereof now or hereafter existing (individually referred to herein as a "Trust,"
and collectively as the "Trusts" and each series of the Trusts identified from
time to time on Schedule A and being referred to herein as a "Series") (the
Trusts sometimes individually hereinafter referred to as a "Party" or
collectively as "Parties").

     WHEREAS, the Trusts have been named as insureds ("Insureds") under a joint
fidelity bond (the "Bond") approved by each Trust's Board of Trustees (the
"Board");

     WHEREAS, the Bond is intended to satisfy the requirements of Rule 17g-1
under the Investment Company Act of 1940, as amended; and

     WHEREAS, the Parties, in accordance with the requirements of Rule 17g-1(f),
desire to establish (i) the criteria by which the premiums for the Bond shall be
allocated among the Parties and (ii) the criteria by which the amounts payable
under the Bond shall be allocated among the Parties covered under same.

     NOW, THEREFORE, it is agreed as follows:

     1. Each Series of a Trust shall pay a percentage of the premium for the
Bond, as allocated in such equitable manner as determined by the Boards of
Trustees of the Trusts, which amounts are set forth on Schedule B to this
Agreement. From time to time adjustments may be made by mutual agreement of the
Trusts to the portion of the premiums theretofore paid by a Trust or Series,
based on a subsequent change or changes in the net assets of one or more Trusts
or the addition or withdrawal of a Trust or Series pursuant to this Agreement.

     2. If the insurer issuing the Bond (the "Insurer") is willing, with or
without additional premium, to add, as an Insured under the Bond, any investment
company not listed as a signatory to this Agreement or any Series of a Trust not
identified on Schedule A of this Agreement, the Trusts agree (a) that such
addition may be made provided that the non-interested directors or trustees of
the Trusts covered by the Bond shall approve such addition and (b) that such
additional entity may become a party to this Agreement and be included within
the terms "Trust" or "Party" provided that in each case such entity shall have
executed and delivered to the Trusts its written agreement to become a party
hereto and to be bound by the terms of this Agreement.

     3. In the event that the claims of loss of two or more Parties as Insureds
under the Bond are so related that the Insurer is entitled to assert that the
claims must be aggregated, or in

<PAGE>

the event that the aggregate recovery by the Insureds under the Bond is less
than the aggregate loss incurred by the Insureds that gave rise to the claims,
the following rules shall determine, as between the claimants, the priority of
satisfaction of the claims under the Bond:

          (a)  First, all claims of each Trust which have been duly proven and
               established under the Bond shall be satisfied up to the minimum
               amount of the Bond required for such Trust under Rule 17g-1(d);
               and

          (b)  Second, the remaining amount of recovery, if any, shall then be
               applied to claims of the Parties in proportion to the total of
               the unsatisfied amount of the claims of all such Parties.

     4. This Agreement shall become effective as of the date first above
written, and shall remain in full force and effect during the effective period
of the Bond as specified therein. Any Party may withdraw from this Agreement and
the Bond upon sixty (60) days' written notice to the other Parties and the
Securities and Exchange Commission in accordance with Rule 17g-1 under the Act.
The withdrawing Party shall be entitled to receive its proportionate share of
any premium refund received from the Insurer.

     5. The obligations of the Trusts which are organized as Massachusetts
business trusts, or any other investment company organized as a Massachusetts
business trust which may be added pursuant to Section 2 under this Agreement,
are not binding upon any of the trustees or holders of shares of beneficial
interest of any such trust individually, but bind only the respective trust
estate of each.

     6. This Agreement shall supersede all prior agreements entered into between
or among any of the Trusts with respect to the same matters.

     7. Notwithstanding the foregoing, claims made under the Bond during a
period prior to the effective date of this Agreement (and any recoveries related
to any such claims) shall be subject to the terms of the premium sharing and
allocation agreement in effect during that period.


                                        2

<PAGE>

     IN WITNESS WHEREOF the Trusts have caused this Agreement to be executed by
their officers, as appropriate, hereunto duly authorized all as of the 20 day of
November, 2008.

                                        POWERSHARES EXCHANGE-TRADED FUND TRUST


                                        By: /s/ H.Bruce Bond
                                            ------------------------------------


                                        POWERSHARES EXCHANGE-TRADED FUND
                                        TRUST II


                                        By: /s/ H.Bruce Bond
                                            ------------------------------------


                                        POWERSHARES INDIA EXCHANGE-TRADED FUND
                                        TRUST


                                        By: /s/ H. Bruce Bond
                                            ------------------------------------


                                        POWERSHARES ACTIVELY MANAGED
                                        EXCHANGE-TRADED FUND TRUST


                                        By: /s/ H. Bruce Bond
                                            ------------------------------------


                                        3

<PAGE>

                                   SCHEDULE A

                                     SERIES

POWERSHARES EXCHANGE-TRADED FUND TRUST

     1.   PowerShares Dynamic Market Portfolio

     2.   PowerShares Dynamic Small Cap Growth Portfolio

     3.   PowerShares Dynamic Small Cap Value Portfolio

     4.   PowerShares Dynamic Biotechnology & Genome Portfolio

     5.   PowerShares Dynamic Food & Beverage Portfolio

     6.   PowerShares Dynamic Leisure and Entertainment Portfolio

     7.   PowerShares Dynamic Media Portfolio

     8.   PowerShares Dynamic Networking Portfolio

     9.   PowerShares Dynamic Pharmaceuticals Portfolio

     10.  PowerShares Dynamic Semiconductors Portfolio

     11.  PowerShares Dynamic Software Portfolio

     12.  PowerShares Dynamic OTC Portfolio

     13.  PowerShares Dynamic Zacks MicroCap Portfolio

     14.  PowerShares International Dividend Achievers Portfolio

     15.  PowerShares Dividend Achievers Portfolio

     16.  PowerShares High Growth Rate Dividend Achievers Portfolio

     17.  PowerShares Aerospace & Defense Portfolio

     18.  PowerShares Dynamic Building & Construction Portfolio

     19.  PowerShares Dynamic Energy Exploration & Production Portfolio

     20.  PowerShares Dynamic Insurance Portfolio

     21.  PowerShares Dynamic Oil & Gas Services Portfolio

     22.  PowerShares Dynamic Retail Portfolio


                                       A-1

<PAGE>

     23.  PowerShares High Yield Equity Dividend Achievers Portfolio

     24.  PowerShares Dynamic Utilities Portfolio

     25.  PowerShares Lux Nanotech Portfolio

     26.  PowerShares Water Resources Portfolio

     27.  PowerShares Value Line Timeliness Select Portfolio

     28.  PowerShares Dynamic Hardware & Consumer Electronics Portfolio

     29.  PowerShares Dynamic Telecommunications & Wireless Portfolio

     30.  PowerShares Golden Dragon Halter USX China Portfolio

     31.  PowerShares WilderHill Clean Energy Portfolio

     32.  PowerShares Dynamic Large Cap Growth Portfolio

     33.  PowerShares Dynamic Large Cap Value Portfolio

     34.  PowerShares Dynamic Mid Cap Growth Portfolio

     35.  PowerShares Dynamic Mid Cap Value Portfolio

     36.  PowerShares Zacks Small Cap Portfolio

     37.  PowerShares FTSE RAFI U.S. 1000 Portfolio

     38.  PowerShares Dynamic Energy Sector Portfolio

     39.  PowerShares Dynamic Financial Sector Portfolio

     40.  PowerShares Dynamic Healthcare Sector Portfolio

     41.  PowerShares Dynamic Healthcare Services Portfolio

     42.  PowerShares Dynamic Industrials Sector Portfolio

     43.  PowerShares Dynamic Large Cap Portfolio

     44.  PowerShares Dynamic MagniQuant Portfolio

     45.  PowerShares Dynamic Mid Cap Portfolio

     46.  PowerShares Dynamic Small Cap Portfolio

     47.  PowerShares Dynamic Technology Sector Portfolio


                                       A-2

<PAGE>

     48.  PowerShares Buyback Achievers Portfolio

     49.  PowerShares FTSE RAFI Basic Materials Sector Portfolio

     50.  PowerShares FTSE RAFI Consumer Goods Sector Portfolio

     51.  PowerShares FTSE RAFI Consumer Services Sector Portfolio

     52.  PowerShares FTSE RAFI Energy Sector Portfolio

     53.  PowerShares FTSE RAFI Financials Sector Portfolio

     54.  PowerShares FTSE RAFI Health Care Sector Portfolio

     55.  PowerShares FTSE RAFI Industrials Sector Portfolio

     56.  PowerShares FTSE RAFI Telecommunications & Technology Sector Portfolio

     57.  PowerShares FTSE RAFI US 1500 Small-Mid Portfolio

     58.  PowerShares FTSE RAFI Utilities Sector Portfolio

     59.  PowerShares Cleantech Portfolio

     60.  PowerShares Dynamic Aggressive Growth Portfolio

     61.  PowerShares Dynamic Banking Portfolio

     62.  PowerShares Dynamic Basic Materials Sector Portfolio

     63.  PowerShares Dynamic Consumer Discretionary Sector Portfolio

     64.  PowerShares Dynamic Consumer Staples Sector Portfolio

     65.  PowerShares Dynamic Deep Value Portfolio

     66.  PowerShares Financial Preferred Portfolio

     67.  PowerShares Listed Private Equity Portfolio

     68.  PowerShares DWA Technical Leaders Portfolio

     69.  PowerShares Value Line Industry Rotation Portfolio

     70.  PowerShares WilderHill Progressive Energy Portfolio

     71.  PowerShares S&P 500 BuyWrite Portfolio

     72.  PowerShares FTSE NASDAQ Small Cap Portfolio


                                       A-3

<PAGE>

     73.  PowerShares NASDAQ Internet Portfolio

     74.  PowerShares NXQ Portfolio

     75.  PowerShares DJIA BuyWrite Portfolio

     76.  PowerShares NASDAQ-100 BuyWrite Portfolio

     77.  PowerShares Dynamic Dividend Portfolio

     78.  PowerShares Security Portfolio

     79.  PowerShares S&P US Stars Portfolio

     80.  PowerShares Evangelical 150 Portfolio

     81.  PowerShares Catholic 150 Portfolio

     82.  PowerShares NASDAQ Transportation Portfolio

     83.  PowerShares NASDAQ Financial-100 Portfolio

POWERSHARES EXCHANGE-TRADED FUND TRUST II

     84.  PowerShares Dynamic Asia Pacific Portfolio

     85.  PowerShares FTSE RAFI Asia Pacific ex-Japan Portfolio

     86.  PowerShares FTSE RAFI Developed Markets ex-U.S. Small-Mid Portfolio

     87.  PowerShares FTSE RAFI Developed Markets ex-U.S. Portfolio

     88.  PowerShares FTSE RAFI Emerging Markets Portfolio

     89.  PowerShares FTSE RAFI Europe Portfolio

     90.  PowerShares FTSE RAFI Europe Small-Mid Portfolio

     91.  PowerShares FTSE RAFI Japan Portfolio

     92.  PowerShares International Listed Private Equity Portfolio

     93.  PowerShares Global Water Portfolio

     94.  PowerShares Global Clean Energy Portfolio

     95.  PowerShares Dynamic Developed International Opportunities Portfolio

     96.  PowerShares Dynamic Europe Portfolio


                                       A-4

<PAGE>

     97.  PowerShares FTSE RAFI International Real Estate Portfolio

     98.  PowerShares 1-30 Laddered Treasury Portfolio

     99.  PowerShares Emerging Markets Sovereign Debt Portfolio

     100. PowerShares High Yield Corporate Bond Portfolio

     101. PowerShares Insured National Municipal Bond Portfolio

     102. PowerShares Insured New York Municipal Bond Portfolio

     103. PowerShares Insured California Municipal Bond Portfolio

     104. PowerShares VRDO Tax-Free Weekly Portfolio

     105. PowerShares DWA Developed Markets Technical Leaders

     106. PowerShares DWA Emerging Markets Technical Leaders

     107. PowerShares Autonomic Balanced NFA Global Asset Portfolio

     108. PowerShares Autonomic Balanced Growth NFA Global Asset Portfolio

     109. PowerShares Autonomic Growth NFA Global Asset Portfolio

     110. PowerShares FTSE RAFI Asia Pacific ex-Japan Small-Mid Portfolio

     111. PowerShares Global Nuclear Energy Portfolio

     112. PowerShares Preferred Portfolio

     113. PowerShares FTSE RAFI Latin America Portfolio

     114. PowerShares FTSE RAFI Australia Portfolio

     115. PowerShares FTSE RAFI Brazil Portfolio

     116. PowerShares FTSE RAFI Canada Portfolio

     117. PowerShares FTSE RAFI China Portfolio

     118. PowerShares FTSE RAFI France Portfolio

     119. PowerShares FTSE RAFI Germany Portfolio

     120. PowerShares FTSE RAFI Hong Kong Portfolio

     121. PowerShares FTSE RAFI Mexico Portfolio


                                       A-5

<PAGE>

     122. PowerShares FTSE RAFI South Africa Portfolio

     123. PowerShares FTSE RAFI South Korea Portfolio

     124. PowerShares FTSE RAFI Taiwan Portfolio

     125. PowerShares FTSE RAFI United Kingdom Portfolio

     126. PowerShares Dynamic Emerging Markets Portfolio

     127. PowerShares Developed International Growth Portfolio

     128. PowerShares Developed International Value Portfolio

     129. PowerShares Dynamic Japan Portfolio

     130. PowerShares Dynamic Australia Portfolio

     131. PowerShares Dynamic Canada Portfolio

     132. PowerShares Dynamic France Portfolio

     133. PowerShares Dynamic Germany Portfolio

     134. PowerShares Dynamic UK Portfolio

     135. PowerShares Ireland Portfolio

     136. PowerShares S&P European Stars Portfolio

     137. PowerShares Investment Grade Corporate Bond Portfolio

     138. PowerShares Aggregate Bond Portfolio

     139. PowerShares 1-20 Laddered Treasury Portfolio

     140. PowerShares 1-10 Laddered Treasury Portfolio

     141. PowerShares 1-5 Laddered Treasury Portfolio

     142. PowerShares National Municipal Bond Portfolio

     143. PowerShares Developed Markets Infrastructure Portfolio

     144. PowerShares Emerging Markets Infrastructure Portfolio

     145. PowerShares Space and Satellite Portfolio

     146. PowerShares DJ Global Exchanges Portfolio


                                       A-6

<PAGE>

     147. PowerShares Asia-Pacific Water Portfolio

     148. PowerShares MENA Frontier Countries Portfolio

     149. PowerShares Global Agriculture Portfolio

     150. PowerShares Global Biotech Portfolio

     151. PowerShares Global Coal Portfolio

     152. PowerShares Global Gold and Precious Metals Portfolio

     153. PowerShares Global Steel Portfolio

     154. PowerShares Global Progressive Transportation Portfolio

     155. PowerShares Global Wind Energy Portfolio

POWERSHARES INDIA EXCHANGE-TRADED FUND TRUST

     156. PowerShares India Portfolio

POWERSHARES ACTIVELY MANAGED EXCHANGE-TRADED FUND TRUST

     157. PowerShares Active AlphaQ Fund

     158. PowerShares Active Alpha Multi-Cap Fund

     159. PowerShares Active Mega Cap Fund

     160. PowerShares Active Low Duration Fund

     161. PowerShares Active U.S. Real Estate Fund


                                       A-7

<PAGE>

                                   SCHEDULE B

                                     SERIES

     The premium of the Bond shall be allocated 25% to each Trust, one-half per
capita and one-half pro rata by assets to each Series of a Trust then existing
as of May 1, 2008.


                                       B-1

</TEXT>
</DOCUMENT>