TriState Capital Holdings, Inc. is set to join the Russell Global Index when Russell Investments begins running its reconstituted indexes on July 1, 2013. TriState Capital began trading on the NASDAQ Global Select Market on May 9, 2013.
Membership in the Russell Global Index, which remains in place for one year, means automatic inclusion in the appropriate large-cap, small-cap, all-cap indexes as well as the applicable style, sector and country indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
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"We are pleased to have been selected to join the Russell Global Index," said James F. Getz, TriState Capital’s chairman and chief executive officer. "We are proud of the progress we’ve made so far."
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.
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. 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.
Russell launched the Russell Global Index in 2007, leveraging the popular methodology from its U.S. indexes. The broad-market Russell 3000® Index serves as the U.S. component to the Russell Global Index.
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