Net Element International (NASDAQ: NETE), a technology-driven group specializing in electronic commerce and mobile payment processing, is pleased to announce today that they have been added to the Russell 3000 Index after the equity markets closed on June 28 as Russell Investments reconstituted its comprehensive family of global 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 honored to be included in the Russell indexes. It elevates our profile in the investor community, while bringing our strategy and shareholder value to the attention of a broader audience”, said Kenges Rakishev, Chairman of Net Element. “We anticipate that being added to the broadly referenced Russell Indexes will add important liquidity to our stock by attracting the many index funds that reference them.”
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 currently are benchmarked to them. Russell calculates more than 80,000 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.