MADISON, Wis., June 28, 2013 (GLOBE NEWSWIRE)
-- First Business Financial Services, Inc. (Nasdaq:FBIZ) expects to join the Russell Microcap® Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes after the market close on June 28, 2013 according to a preliminary list of additions posted 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-capitalization rankings and style attributes.
"We are very pleased to join the Russell Microcap Index because of the increased market exposure it brings," said Corey A. Chambas, President and Chief Executive Officer. "Over the past two years we have increased our capital markets exposure meaningfully through careful planning and execution. Today we are excited for an even broader base of investors to gain exposure to our recent earnings momentum, growth prospects and impressive shareholder returns."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Russell calculates more than 700,000 benchmarks daily covering approximately 98 percent of the investable market globally, 80 countries and more than 10,000 securities. Approximately $4.1 trillion in assets are benchmarked to the Russell Indexes.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000 Index and Russell Microcap Index. 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.
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