Dex Media, Inc., (Nasdaq: DXM) one of the largest national providers of social, local and mobile marketing solutions, 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 28, according to a preliminary list of additions posted June 14 on www.russell.com/indexes.
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.
“We are pleased Dex Media will be added to the Russell 3000 Index,” said Samuel D. Jones, Dex Media chief financial officer and treasurer. “Dex Media is positioned to help small and medium-sized businesses grow, with over 2,700 marketing consultants already advising approximately 665,000 local businesses across social, local and mobile media platforms.”
The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Approximately $4.1 trillion in assets are benchmarked to the Russell Indexes. Russell calculates more than 700,000 benchmarks daily covering approximately 98 percent of the investable market globally, more than 80 countries and 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. Total returns data for the Russell 3000 and other Russell Indexes is available at http://www.russell.com/Indexes/performance/default.asp. Dex Media was formed on May 1, 2013, as a result of a merger between Dex One Corporation and SuperMedia Inc.