PARSIPPANY, N.J., June 19, 2012 /PRNewswire/ -- PDI, Inc. (Nasdaq: PDII), today announced that it is set to join the broad-market Russell 3000 ® Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 25, 2012 according to a preliminary list of additions posted June 8, 2012 on www.russell.com.
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. 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. The Russell 3000 ® also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
"We are pleased to join in the Russell 3000 ® Index," stated Nancy Lurker, chief executive officer of PDI, Inc. "This inclusion reflects our commitment to long-term ongoing profitability as we believe our strong core business and solid pipeline will lead to additional key contract wins and renewals. PDI should now benefit from increased investor awareness and visibility as we join the Russell 3000 ® Index."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. In the institutional marketplace, an industry-leading $3.9 trillion in assets currently are benchmarked to them.Russell calculates more than 80,000 benchmarks daily covering approximately 98 percent of the investable market globally, 83 countries and more than 10,000 securities. 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.