News Article
Advanced Photonix set to join Russell Microcap Index
The supplier of high-speed optical receivers and terahertz instrumentation for the telecom, homeland security, military, medical and industries believes this is the first step in opening the investment community to its technology and market growth opportunities.
Advanced Photonix will join the Russell Microcap Index when Russell Investments reconstitutes its family of U.S. indexes on June 24, according to a preliminary list of additions posted June 10 on www.russell.com/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-capitalisation rankings and style attributes.
Richard Kurtz, API's Chairman and CEO, said, "We are pleased to be included in the Russell Microcap Index, this is the first step in getting greater exposure and opening the investment community to our technology and market growth opportunities."
Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in institutional assets currently are benchmarked to them.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalisation to create the Russell 3000 and Russell Microcap Indexes. 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.
