Monterey Gourmet Foods Joins Russell Microcap Index
http://markets.chron.com/chron?GUID=5963632&Page=M [2008-7-11]
Tag : gourmet foods
Monterey Gourmet Foods( PSTA ), a manufacturer and marketer of fresh gourmet refrigerated foodproducts, joined the Russell Microcap Index when RussellInvestments reconstituted its family of U.S. indexes on June 27,according to a preliminary list of additions posted on www.russell.com .
Membership in the Russell Microcap Index, which remains in placefor one year, includes automatic inclusion in the appropriategrowth and value style indexes. Russell determines membership forits equity indexes primarily by objective, market-capitalizationrankings and style attributes.
"We are very pleased with our inclusion in this index, which, webelieve, reflects our continued positive momentum," said EricEddings, CEO of the company. "Russell is an industry leader forstock indexes and we expect our inclusion will generate greaterinterest in our stock among institutional investors."
Russell indexes are widely used by investment managers andinstitutional investors for index funds and as benchmarks for bothpassive and active investment strategies. An industry-leading $4.4trillion in assets currently are benchmarked to them. Annualreconstitution of Russell indexes captures the 4,000 largest U.S.stocks as of the end of May, ranking them by total marketcapitalization to create the Russell 3000 Index and RussellMicrocap. These investment tools originated from Russell'smulti-manager investment business in the early 1980s when thecompany saw the need for a more objective, market-driven set ofbenchmarks in order to evaluate outside investment managers.
Monterey Gourmet Foods( PSTA ), a manufacturer and marketer of fresh gourmet refrigerated foodproducts, joined the Russell Microcap Index when RussellInvestments reconstituted its family of U.S. indexes on June 27,according to a preliminary list of additions posted on www.russell.com .
Membership in the Russell Microcap Index, which remains in placefor one year, includes automatic inclusion in the appropriategrowth and value style indexes. Russell determines membership forits equity indexes primarily by objective, market-capitalizationrankings and style attributes.
"We are very pleased with our inclusion in this index, which, webelieve, reflects our continued positive momentum," said EricEddings, CEO of the company. "Russell is an industry leader forstock indexes and we expect our inclusion will generate greaterinterest in our stock among institutional investors."
Russell indexes are widely used by investment managers andinstitutional investors for index funds and as benchmarks for bothpassive and active investment strategies. An industry-leading $4.4trillion in assets currently are benchmarked to them. Annualreconstitution of Russell indexes captures the 4,000 largest U.S.stocks as of the end of May, ranking them by total marketcapitalization to create the Russell 3000 Index and RussellMicrocap. These investment tools originated from Russell'smulti-manager investment business in the early 1980s when thecompany saw the need for a more objective, market-driven set ofbenchmarks in order to evaluate outside investment managers.
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