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NEW YORK, June 23, 2014 (GLOBE NEWSWIRE) -- NeoStem, Inc. (Nasdaq:NBS), a leader in the emerging cellular therapy industry, announced today that it is set to join the broad-market Russell Global, Russell 3000, and Russell Microcap Indexes when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on Friday, June 27, 2014, according to a preliminary list of additions posted June 13 on
"We are very pleased that NeoStem's opportunistic growth strategy, demonstrated through our recent acquisition of California Stem Cell, Inc. (now known as NeoStem Oncology, LLC) and its Targeted Immunotherapy Program, has contributed to the Company's anticipated inclusion in the Russell Global, Russell 3000, and Russell Microcap Indexes," said Dr. Robin L. Smith, Chairman and CEO of NeoStem. "We hope that our inclusion in these indexes will increase awareness among investors of NeoStem and our unique platform that includes cell therapy development as well as revenue generating manufacturing capabilities that we are able to leverage both for our clients and our own clinical programs with anticipated near-term milestones."
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 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. Membership in these indexes, which remains in place for one year, means automatic inclusion in the small-cap Russell 2000
® Index as well as the appropriate growth and value style indexes, as well as the applicable sector and country indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.2 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.