Russell indexes are used by investment managers and institutional investors for both passive and active investment strategies
Ohio Valley Banc Corp (Ohio Valley) has joined the broad-market Russell 3000 Index when Russell Investments reconstituted its comprehensive set of US and global equity indexes on June 26, 2009, according to the final list of additions posted on www.russell.com.
Asset managers seek to reconfigure their portfolios to reflect the composition of Russell’s indexes. Membership in the Russell 3000, which remains in place for one year, means that Ohio Valley is also included in the small-cap Russell 2000 Index, as well as appropriate growth and value style indexes. $4 trillion in assets currently are benchmarked to them.
The Russell 3000 Index measures the performance of the largest 3000 US companies, representing approximately 98% of the investable US equity market. The Russell 3000 Index is constructed to provide a barometer of the broad market, and is completely reconstituted annually to ensure new and growing equities are reflected.