Russell Reconstituting Investment Indexes

July 1, 2004 ( - Russell Investment Group is preparing a rollout of its new official membership list for the firm's family of 21 unmanaged US stock indices.

Among the major indices to get a facelift are the Russell 3000, Russell 2000 and Russell 1000 indices.   Russell said the new index constituents will be posted on on July 6, according to a news release.

Preparing market watchers for what the new indices will contain, Russell provided capitalization ranges of index constituents.   Overall, c apitalizations range for stocks in the Russell 3000 from $317.8 billion for the largest stock (General Electric) to $175.8 million for the smallest stock.   Following the reconstitution, the total market capitalization for the Russell 3000 will stand at $13.3 trillion, up 32% from last year. The market capitalization for the Russell 2000 is $1.2 trillion.

More than $1.4 trillion in assets are benchmarked to Russell indices and more than $364 billion is invested in passive index funds that use them as a model.