Regional Management Corp. (NYSE: RM), a diversified specialty consumer finance company, announced today it is set to join the U.S. broad-market Russell 3000 ® Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 25, according to a preliminary list of additions posted June 8 at www.russell.com.
Annual reconstitution of Russell’s U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May 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 very pleased that our hard work to grow Regional Management has paid off in being added to this well-regarded benchmark index,” said Thomas Fortin, Chief Executive Officer of Regional Management Corp. “Our inclusion in the Russell 3000 should enhance our visibility and enable us to bring the Regional Management story to an even broader range of investors and funds.”
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. 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.