Tandy Leather Factory, Inc. (NASDAQ: TLF) announced today that it has joined the Russell Microcap® Index as a result of Russell Investments’ reconstitution of its family of U.S. indexes on June 25. Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
The Russell Microcap Index measures the performance of the microcap segment of the U.S. equity market. It makes up less than 3% of the U.S. equity market. It includes 1,000 of the smallest securities in the small-cap Russell 2,000® Index based on a combination of their market cap and current index membership and it includes the next 1,000 securities.
Jon Thompson, CEO and President of Tandy Leather Factory, Inc., commented, “We are very pleased to have been selected for the Russell Microcap Index and appreciate the recognition by Russell Investments of the value of Tandy Leather Factory in the world of public companies. Being a part of the index will bring greater visibility as we continue to focus on company growth and expansion both domestically and internationally, while also delivering long-term value to our stockholders.”
Russell indexes are widely used by investment managers and institutional investors for index fund and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in assets currently are benchmarked to them.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000® Index and Russell Microcap. These investment tools originated from Russell’s multi-manager investment business in the early 1980’s when the company saw a need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.