Or...
- Create camera and put it on the spot where you want the circle to appear.
- Create distance shader and set distance colour (white) to the desired diameter for the circle.
- Plug camera into distance shader, now the camera is surrounded by a white circle, this will be your mask then.
- Plug the distance shader into the blendfunction of the powerfractal and you're good to go

I also use this to restrict my populations for being too close to my camera (by inverting the blendshader then of course)
Hope this will help!
Martin