US index provider Russell Investments has launched the Russell Global 3000 index series, which comprises 18 sub-indices to the Russell Global Index designed for investment vehicles, including structured products. "These new indexes are ideal as the basis for investable products," said Rolf Agather, MD of index research and innovation at Russell Investments.
The series also extends Russell's trademark US market index name globally for the first time: it features the Russell Global 1000 and 2000, as well as Russell Global ex-US variants and growth and value sub-indices.
The Russell Global 1000 and Russell Global 2000 Indexes comprise a small number of large-cap and small-cap stocks to represent the respective market cap tiers. The Russell Global 3000 Index, which includes all the components of the 1000 and 2000 indices, was designed to reflect market segments in an objective manner, the firm said.
The new series is reconstituted annually.