The Markets March 1, 2011

Russell Announces Schedule for Index Reconstitution

Russell Investments announced the 2011 schedule for its annual index reconstitution process, which reflects the past year’s global shift in equity markets.
Reported by

Russell will post lists of preliminary additions and deletions for the Russell Global Index, U.S. broad-market Russell 3000 Index and Russell Microcap Index on its Web site after the U.S. market closes on Friday, June 10. Updated lists, if necessary, will be posted at the same location on June 17 and June 24.   

Membership changes to Russell’s comprehensive family of indexes will take effect as markets close that final Friday of June and remain in place for the ensuing 12-month period. The final list will be posted on Russell’s Web site on June 27.  

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Russell offers a comprehensive worldwide set of equity benchmarks that covers 98% of the investable universe and accounted for $3.9 trillion in benchmarked assets as of December 31, 2009, according to the announcement. Membership is determined by objective rules, such as market capitalization rankings. Accurate benchmarks are an integral part of Russell’s ongoing process to monitor 8,000 investment manager products worldwide for the firm’s $155.4 billion active investment management business.  

“Russell continues to reassess and refine rules for company inclusion during the reconstitution process in order to minimize index turnover and reduce the impact of reconstitution, while still reflecting precise market representation,” said Sarah McCarthy, senior product manager for Russell Indexes at Russell Investments, in the announcement. 

Deals & People March 1, 2011

Sah Joins TCW to Launch International Fund

The TCW Group hired Rohit Sah as portfolio manager for the new TCW International Small Cap Fund.
Reported by

The strategy will be available to institutional and international investors through separate accounts and other delivery vehicles, according to the Los Angeles-based international asset-management firm.

Sah joins TCW from Oppenheimer Funds, where he managed the Oppenheimer International Small Company Fund. Sah has a Ph.D. in Economics from Columbia University and a Bachelor’s Degree in Technology and Mechanical Engineering from I.I.T., Kanpur in India.

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The TCW International Small Cap Strategy, which launched February 28, will invest in small-cap companies located outside of the United States, the company said. It generally targets companies with market capitalizations of $6 billion or less at the time of purchase.

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