Two Debt Buyers Join Russell Indexes
Debt buyer Asset Acceptance Capital Corp. (NASDAQ: AACC) Tuesday announced that it has been added to the list of public companies that comprise the Russell 2000 (®), Russell 3000 (®)Russell Global Indexes. Asset Acceptance’s inclusion became effective on Friday, June 22, 2012, following the Russell Investment Group’s annual reconstitution of its indexes.
Rion Needs, President and Chief Executive Officer, commented, “We are pleased to be included in the Russell family of indexes, which will significantly increase Asset Acceptance’s visibility in the investment community. Our membership reflects the considerable success we have achieved as a result of the execution of our long-term growth strategy. As we remain focused on further implementing our strategy and positioning our company for long-term value creation, our inclusion in these key investment benchmarks will help further expand our shareholder base.”
Fellow public debt buyer Asta Funding, Inc. (NASDAQ:ASFI) (the “Company”) also announced it has been added to the Russell 2000 Index, effective June 25, 2012.
Gary Stern, the Chief Executive Officer of Asta, stated: “We are pleased to be added to the Russell 2000 Index, which reflects our continued positive momentum. We believe our inclusion in the Russell 2000 will help increase visibility with investors and institutions that rely on the Russell indexes as part of their investment strategy, providing us with the opportunity to expand our shareholder base.”
The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. In the institutional marketplace, an industry-leading $3.9 trillion in assets currently are benchmarked to the Russell indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
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