PENDLETON, Ind., July 29, 2013 /PRNewswire/ -- Remy International, Inc. (NASDAQ: REMY), a leading worldwide manufacturer, remanufacturer, and distributor of starters and alternators for light vehicle and commercial vehicle applications, locomotive products and hybrid electric motors, announced it was added to the Russell Global Index, Russell 3000 Index and Russell Microcap Index as part of Russell Investments' annual index reconstitution on June 28, 2013.
Jay Pittas, Remy International, Inc. President and CEO commented, "We are very pleased to be included in the widely referenced Russell Indexes, which further reflects our continued positive momentum and efforts to increase shareholder value. We expect our inclusion will raise our profile and provide exposure to a broader base of institutional investors. Interest in Remy has continued to grow since our NASDAQ listing and trading volumes have been steadily increasing."
Russell Indexes are widely used by investment managers and institutional investors for both index funds and benchmarks for both passive and active investment strategies. Approximately $4.1 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.The Russell 3000 serves as the U.S. component to the Russell Global Index. Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks at 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. Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.