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Products July 3, 2008
Vietnamese Firms Make Russell Index Cut
Russell Investments has added companies in Vietnam to the Russell Global Index for the first time.
Reported by Nevin E. Adams
According to an announcement, nine Vietnamese firms qualified for addition as a result of the annual reconstitution process and were added to the global index as well as several sub-components such as the Russell Emerging Markets Index, Russell Asia Index, and Russell Asia Pacific Index.
“The Russell Vietnam Index is an important addition to our comprehensive family of global indexes,” said Stephen Wood, senior portfolio strategist for Russell. “The annual reconstitution process captures the changing fortunes within key markets, such as this good news in Vietnam, 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.’
The nine additions are:
- Corporation for Financing & Promoting Technology,
- SaiGon Thuong Tin Commercial JSB,
- PetroVietnam Drilling & Well Services JSC,
- Tan Tao Investment-Industry Corp.,
- PetroVietnam Fertilizer & Chemicals Corp.,
- Vietnam Dairy Products JSC,
- PhaLai Thermal Power JSC,
- Vincom JSC and
- Saigon Securities Inc.
Each of these companies also is included in the Russell Global Small Cap Index. Three are in the materials and processing sector, while six are designated as value companies, and three as growth companies.
The official list is available here.