Foster Wheeler Joins Russell 1000 Index
Foster Wheeler Ltd. has joined the large-cap Russell 1000 Index as part of Russell Investment Group's reconstitution of its comprehensive set of U.S. and global equity indexes on June 22.
Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and by style attributes.
"We are pleased that the company has met the criteria for inclusion in the Russell 1000," said Raymond J. Milchovich, Foster Wheeler's chairman and chief executive officer. "With Foster Wheeler's recent record-level of financial performance, strong competitive position, and robust markets, the company has steadily attracted increasing attention from the investment community, and we expect that the company's inclusion in the Russell 1000 will further broaden that exposure."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Approximately $4 trillion in assets currently are benchmarked to them.
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