Flexsteel Industries, Inc. (NASDAQ: FLXS) joined the list of companies on the U. S. broad-market Russell 3000 ® Index on June 25, 2012, when Russell Investments reconstituted its set of U.S. and global equity indexes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Russell U. S. indexes have $3.9 trillion in assets currently benchmarked to them. Flexsteel’s membership, which will remain in place for one year, means inclusion in the Russell 3000 ® Index as well as the appropriate growth and value style indexes.
“Many investors and institutions rely on the Russell 3000 ® Index as part of their investment strategy,” said Ronald J. Klosterman, President and CEO of Flexsteel. “Flexsteel’s inclusion acknowledges our strong business fundamentals and potential for future growth.”
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. The largest 1,000 companies in this ranking comprise the Russell 1000 ® Index and the next 2,000 companies become the Russell 2000 ® Index. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. Total returns data for the Russell 3000 ® Index and other Russell indexes are available at http://www.russell.com/indexes/data/US_Equity/Russell_US_Index_returns.asp.About RussellRussell Investment Group provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell advises clients in more than 35 countries on the investment of approximately $786 billion in assets, and serves approximately 600 organizations and thousands of individuals through its investment management business. As of March 31, 2012, $155 billion is invested in Russell funds globally. Founded in 1936, Russell is a subsidiary of the Northwestern Mutual Life Insurance Company. About FlexsteelFlexsteel Industries, Inc. is headquartered in Dubuque, Iowa, and was incorporated in 1929. Flexsteel is a designer, manufacturer, importer and marketer of quality upholstered and wood furniture for residential, recreational vehicle, office, hospitality and healthcare markets. All products are distributed nationally.