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June 22, 2012/PRNewswire/ -- Allison Transmission Holdings, Inc. (NYSE: ALSN), the world's largest manufacturer of commercial duty fully-automatic transmissions and hybrid-propulsion systems,
today announced it is set to join the Russell Global Index when Russell Investments reconstitutes its comprehensive set of global equity indexes on
June 25, according to a preliminary list of additions posted
June 8 on
Membership in the Russell Global Index, which remains in place for one year, means automatic inclusion in the appropriate large-cap, small-cap, all-cap indexes as well as the applicable style, sector and country indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Lawrence E. Dewey, Chairman, President and Chief Executive Officer of Allison Transmission commented, "We are very pleased to join the Russell Global Index. The inclusion of Allison Transmission in the Russell Global Index is an important milestone for our company. In addition, it represents a significant opportunity for our company to broaden its shareholder base."
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.
The Russell Global Index, which captures approximately 98% of investable securities globally, is reconstituted annually and all sub-indexes are recalibrated simultaneously to accurately measure current market realities for each market segment. 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 launched the Russell Global Index in 2007, leveraging the popular methodology from its U.S. indexes. The broad-market Russell 3000
® Index serves as the U.S. component to the Russell Global Index.
About RussellRussell 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. Russell has approximately
$155 billion in assets under management (as of 3/31/2012) and works with 2,400 institutional clients, more than 580 independent distribution partners and advisors, and individual investors globally. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.