Russell Investments announced today the 2012 schedule for its annual index reconstitution process, with the preliminary lists of additions and deletions to major indexes scheduled for June 8. Rebalance day will be June 22.
The revamped indexes will reflect the past year’s global equity market shifts and ensure that investors continue to have an accurate market proxy, Russell said.
Russell will first post lists of preliminary changes to the Russell Global Index, Russell 3000 Index and Russell Microcap Index on its Web site after the U.S. markets close on Friday, June 8. Updated lists, if necessary, will be posted on the Web site on June 15 and June 22.
Membership changes to Russell’s family of global market indexes will take effect as the markets close on Friday, June 22, with final lists posted the following Monday.
There is always a spike in trading at the end of the day during a scheduled Russell rebalance, though a recent study by Credit Suisse found that trading earlier in the day tends to be unaffected by the rebalance.
Rolf Agather, managing director of global research and innovation for Russell Indexes, said in a statement that for investors managing multi-asset portfolios, it is important to have high quality tools to better understand capital markets.
"Our annual index reconstitution process systematically captures the rapidly changing global equity markets through a time-tested, objective and rules-based approach," Agather said.
