GigOptix Inc of San Jose,CA,USA(a fabless supplier of semiconductor and optical components for high-speed information streaming)will join the Russell Microcap Index on 25 June when Russell Investments(a subsidiary of The Northwestern Mutual Life Insurance Company)reconstitutes its family of US indexes,according to a preliminary list of additions announced on 8 June.
Annual reconstitution of Russell Indexes captures the 4000 largest US stocks as of the end of May,ranking them by total market capitalization to create the Russell 3000 Index and Russell Microcap Index.
Membership of 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.Russell indexes are used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies.
"Being included in the Russell Index is a validation of the progress we have made over the last five years,"says GigOptix's chief financial officer Curt Sacks."As we continue to execute on our growth strategy,we believe our membership will be a valuable tool to help raise our investment profile in the financial community,"he adds.
