Glass tableware manufacturer Libbey Inc. was added to the broad-market Russell 3000 Index when Russell Investment Group reconstituted its comprehensive set of US and global equity indexes on 22 June 2…
Glass tableware manufacturer Libbey Inc. was added to the broad-market Russell 3000 Index when Russell Investment Group reconstituted its comprehensive set of US and global equity indexes on 22 June 2007, according to the official membership posted on the Russell website. Membership of the Russell 3000, which remains in place for one year, means Libbey will automatically be included in the small-cap Russell 2000. Commenting on the news, John F. Meier, Libbey chairman and chief executive officer stated, “We believe that Libbey“s inclusion in the Russell 2000 should increase our exposure to a wider group of investors and institutions”. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading USD 4 trillion in assets are currently benchmarked to them.