Russell Singapore Index gains 13 stocks
Russell Investments posts lists of companies that comprise the newly reconstituted indices
SINGAPORE, JULY 3, 2008 - Russell Investments has posted its official lists of companies that comprise
the newly reconstituted Russell Singapore Index and the Russell Global Index. The list shows 13 Singapore firms qualified
for addition and, as a result, the Russell Singapore Index now comprises 145 stocks that represent about USD $440 billion
in market capitalization. The list of Singapore stocks in the Russell Global Index is available
here.
“The Russell Singapore Index may have reflected a weak year for Singapore equities in general, but today’s announcement
shows some pockets of good news did exist in Singapore amid a tough year globally for stocks” said Bruce Pflaum, managing
director for Russell in Asia. “The annual reconstitution process captures all of the changing fortunes
within these key markets and recalibrates the indexes to accurately measure current realities. This process gives investors
truly representative benchmarks to better gauge the performance of their stock portfolios or retirement plans.”
Some key points related to the Russell Singapore Index stemming from this year’s reconstitution process:
- Four of the 13 additions are in the producer durables sector and three are in the materials & processing sector.
- All of the additions are small-cap stocks.
- Singapore continues to shows a tilt toward value relative to growth as the index is 58% value.
- The newly added companies include one initial public offering from the second quarter of 2008: Samko Timber.
- The Russell Singapore Index is a component of the Russell Asia Pacific Index, which reflects a loss of 13.4% year-to-date in 2008, slightly underperforming the Russell Global Index for that period.
The full list of new Singapore companies added to the Russell Singapore Index and Russell Global Index are:
| Del Monte Pacific | ASL Marine Holdings |
| Rickmers Maritime | Abterra Ltd |
| EOC Ltd | GMG Global |
| OM Holdings | Fragrance Group |
| Lippo Mapletree Indonesia Retail Trust | Samko Timber |
| Oceanus Group | Ezion Holdings |
| Chang Hup Holdings |
"Reconstitution is a key feature of truly representative benchmarks,” said Lori Richards, director of client
services for Russell Indexes. “Russell’s unique process completely recalibrates our comprehensive
family of global indexes to today’s market realities, ensuring that stocks are moved into the right ‘buckets’ to
truly represent small-cap, midcap, large-cap stocks. It also serves as a clear measure of the shifts in relative valuations
of value and growth stocks over the past year."
Russell’s index reconstitution process is followed closely by many investors because its U.S. indexes currently
have US$4.4 trillion in assets benchmarked against them and account for an industry-leading 58.5% of institutional
benchmarked products.
Membership in Russell’s equity indexes—widely used as benchmarks for both passive and active investment
strategies—is determined by objective rules, such as market capitalization rankings. Accurate benchmarks are
an integral part of Russell’s ongoing process to monitor more than 8,000 investment manager products worldwide
for Russell’s US $213 billion active investment management business.
Russell Investments is the owner of the trademarks, service marks and copyrights related to its indexes. Russell's indexes are unmanaged and cannot be invested in directly.
