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Sify Added To The Russell Global Index

CHENNAI, INDIA, June 27, 2011 /PRNewswire/ --

 

Sify Technologies Limited (NASDAQ Global Markets: SIFY), a leader in Enterprise Network and IT Services in India with global delivery capabilities and a pioneer in consumer Internet services with global delivery capabilities, today announced it has been added to the Russell Global Index effective at the close of the US Markets on June 24, 2011 when Russell Investment Group reconstituted its family of U.S. indexes.

Membership in the Russell Global Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and style indexes.  Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies.  An industry-leading $16.7 trillion in assets is currently benchmarked to them.  Investment managers who oversee these funds purchase shares of member stocks according to that company'’s weighting in the particular index.

The Annual reconstitution of Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000.  The largest 1,000 companies in the ranking comprise the Russell 1000 while the remaining 2,000 companies become the widely used Russell 2000. Sify Technologies expects to be included in the Russell Global Index.  

These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.

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