CLEVELAND--(BUSINESS WIRE)--SIFCO Industries, Inc. (NYSE MKT: SIF) was added as a member of the U.S. small-cap Russell 2000® Index after the equity markets closed on June 27 as Russell Investments reconstituted its comprehensive family of global indexes. Membership in the Russell 2000, which remains in place for one year, is based on membership in the broad-market Russell 3000® Index. The stock also was added systematically to the appropriate growth and value indexes.
The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
"We are pleased to be added to the Russell 2000, which reflects our Company’s continued positive progress," Catherine Kramer, Vice President of Finance and Chief Financial Officer commented. "We expect our inclusion will further raise SIFCO’s visibility."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $5.2 trillion in assets are benchmarked to the Russell Indexes. Russell calculates more than 700,000 benchmarks daily covering approximately 98 percent of the investable market globally, more than 80 countries and 10,000 securities. These investment tools originated from Russell’s multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Real-time market analysis on the Russell 2000 and other Russell Indexes is available at: http://www.russell.com/indexes/data/US_Equity/Russell_US_Index_returns.asp.
Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.
Russell has more than $259 billion in assets under management (as of 3/31/2014) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.4 trillion in assets under advisement (as of 6/30/2013). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.6 trillion in 2013 through its implementation services business. Russell also calculates approximately 700,000 benchmarks daily covering 98% of the investable market globally, including more than 80 countries and more than 10,000 securities. Approximately $5.2 trillion in assets are benchmarked (as of 12/31/2013) to the Russell Indexes, which have provided investors with 30 years of smarter beta.
About SIFCO Industries, Inc.
SIFCO Industries, Inc. (“Company” or “SIFCO”) is engaged in a variety of metalworking services and produces products primarily for the aerospace and energy industries. The processes and services include forging, heat-treating, coating, welding, and machining. The products include forged components (both conventional and precision), machined forged parts and other machined metal components.