Neonode Inc., (NASDAQ:NEON), the MultiSensing
touch technology company, today announced that it is set to join the Russell Global, Russell 3000
and Russell Microcap
indexes when Russell Investments reconstitutes its comprehensive set of U.S. equity indexes on June 25th, according to a preliminary list of additions posted June 8th on
“We are satisfied with the inclusion in these three Russell indexes, which coincides with the recent listing of our common stock on the NASDAQ in May,” said Neonode CEO Thomas Eriksson. “This will increase our exposure to investment managers and institutional investors around the world.”
Annual reconstitution of Russell's U.S. 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 Index. Membership in the Russell 3000
, 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 value 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 $3.9 trillion in institutional assets currently are benchmarked to them. 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.
Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed, multi-asset portfolios and services that include advice, investments and implementation. Working with institutional investors, financial advisors and individuals, Russell’s core capabilities extend across capital markets insights, manager research, Indexes, portfolio implementation and portfolio construction.