Russell 3000 Index to Add 48 IPOs; Quarterly Additions Enhance Market Representation of Index.
The list of IPOs set for addition to the Russell 3000 includes 13 firms in the Financial Services sector and nine in the Consumer Discretionary sector. Only four IPOs are slated for the Technology sector.
In addition, 43 IPOs will be added to the Russell Microcap(TM) Index.
The names of IPOs set for inclusion in the Russell 3000, Russell 2000, Russell 1000 and Russell Microcap are posted at www.russell.com/US/Indexes/US/IPOs.
Inclusion in the various indexes is determined by market capitalization. Russell also weights index members by their float-adjusted market capitalization and explicitly excludes "locked-up" shares from IPO weights. As IPOs are added to Russell indexes each quarter, Russell does not delete existing index members to make room for them, but fully reconstitutes the indexes annually at the end of the second quarter.
Russell Investment Group, a global leader in multi-manager investment services, provides investment products and services in more than 35 countries. Russell manages more than $136 billion in assets and advises clients worldwide representing more than $2.3 trillion. Founded in 1936, Russell is a subsidiary of Northwestern Mutual and is headquartered in Tacoma, Wash., with additional offices in New York, Toronto, London, Paris, Singapore, Sydney, Auckland and Tokyo.
Russell Investment Group is a registered trade name of Frank Russell Company, a Washington, USA corporation, which operates through subsidiaries worldwide. Frank Russell Company is a subsidiary of The Northwestern Mutual Life Insurance Company.