Over the past 25 years, Russell indexes have become the benchmarks most widely used by institutional investment managers as well as investors in index funds. Currently, more than $4.4 trillion is managed by institutional investors who use Russell indexes as benchmarks to guide their decision-making for both passive and active investment strategies.
Investment managers utilize indexes as their portfolios purchase shares of the companies in the indexes according to relative index-weightings.
The Russell 3000 Index measures the performance of the largest 3,000 U.S. companies, and is constructed to provide a comprehensive, unbiased and stable barometer of the broad market. The Index is reconstituted annually. The Russell 2000 Index is a subset of the Russell 3000 Index.
The following companies report inclusion in various Russell Indicies:
• Endocare (Irvine, California) said that it has joined the Russell Microcap Index. Endocare makes minimally invasive technologies for tissue and tumor ablation.
• Cardiac Science (Bothell, Washington) said that it has been selected to join the Russell 3000 Index. Selection to the Russell 3000 index means Cardiac Science is automatically included in the Russell 2000 Index, which measures the performance of approximately 2,000 small-cap U.S. securities. "We believe our inclusion in the Russell indexes will provide our company with greater visibility to a broader range of potential investors," said John Hinson, president/CEO of Cardiac Science. Cardiac Science makes diagnostic and therapeutic cardiology devices.
• RadNet (Los Angeles) said that it has joined the Russell 3000 Index. RadNet provides diagnostic imaging services through a network of 162 fully-owned and operated outpatient imaging centers.
• Exactech (Gainesville, Florida), a maker of bone and joint restoration products for hip, knee, shoulder, spine and biologic materials, said that it was added to the broad-market Russell 3000 Index. Exactech chairman and CEO Dr. Bill Petty said, "Joining the Russell 3000 represents another milestone in our company's progress. This is further evidence of the outstanding ongoing efforts by the highly talented people at Exactech."
• Uroplasty (Minneapolis), a medical device company that makes products for the treatment of voiding dysfunctions, said that it was added to the Russell Microcap Index. Membership in the Russell Microcap, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes.
• IntriCon (St. Paul, Minnesota), a maker of body-worn medical and electronics devices, said that it has been added to the Russell Microcap Index. "We believe that inclusion in the new Russell Microcap Index recognizes IntriCon's solid performance as a company," said Mark Gorder, CEO of IntriCon. "We're leveraging our body-worn device expertise to drive top- and bottom-line growth, and the Russell Microcap Index is a great opportunity to enhance our visibility among both current and prospective investors."
• Kewaunee Scientific (Statesville, North Carolina) said it has been added to the Russell Microcap Index. "We are pleased with our inclusion in this index," said William Shumaker, president/CEO. "Russell is an industry leader for stock indexes, and we expect our inclusion will generate greater interest in our stock among institutional investors." Kewaunee Scientific specializes in the design, manufacturing, and installation of scientific and technical furniture.
• Bioheart (Sunrise, Florida), a biotechnology company that is focused on autologous (patient-derived) cell therapies and devices for the treatment of chronic and acute heart damage, said it has been added to the Russell Microcap Index. "We are pleased with our inclusion in this index, which reflects our continued momentum," said William Kline, CFO of Bioheart. "We are confident that our inclusion in this index will generate greater interest in our stock among institutional investors."
• Iris International (Chatsworth, California) said that it has been listed on the Russell 3000, the Small-Cap Russell 2000 and the Russell Microcap indexes. Iris International makes automated in vitro diagnostic systems and consumables.