FTSE Russell, the global index provider, today confirms the schedule for the 36th annual Reconstitution of its Russell US Indexes suite, set to occur at the end of June.
This rebalancing process is designed to capture market shifts from the previous year to ensure the Russell US Indexes continue to accurately reflect the US equity market.
The 2024 Russell Reconstitution schedule is as follows:
- Tuesday, April 30th – “Rank Day” – Index membership eligibility for 2024 Russell Reconstitution determined from constituent market capitalization at market close.
- Friday, May 24th – Preliminary index additions & deletions membership lists posted to the website after 6 PM US eastern time.
- Friday, May 31st, June 7th, 14th and 21st – Preliminary membership lists (reflecting any updates) posted to the website after 6 PM US eastern time.
- Monday, June 10th – “Lock-down” period begins with the updates to reconstitution membership considered to be final.
- Friday, June 28th – Russell Reconstitution is final after the close of the US equity markets.
- Monday, July 1st – Equity markets open with the newly reconstituted Russell US Indexes.
Catherine Yoshimoto, Director, Product Management, FTSE Russell, said: “With a US equity market that is constantly changing, it is critical that the entire Russell US Indexes suite undergoes a complete recalibration to ensure the indexes accurately reflect company size and style shifts that have occurred since the last reconstitution. This annual event is widely followed and traditionally concludes with one of the highest trading volume days of the year, making our transparent, rules-based methodology a key element to a seamless and predictable process for investors. This year, we not only celebrate the 36th annual Russell Reconstitution but also the 40th anniversary of the launch of the Russell US Indexes.”
Annual reconstitution and quarterly IPO additions provide an important foundation for FTSE Russell’s widely used Russell US Indexes. These index governance processes are designed to ensure that the indexes remain a current and relevant measure of US equity market performance.
On February 16th, FTSE Russell announced the 1Q2024 preliminary list of IPO additions, which will take effect at the market open of March 18th. As of 1Q2024, there are no preliminary additions to the Russell 1000 Index and seven additions to the Russell 3000 Index, all of which will be added to the small cap Russell 2000 Index. There will also be six IPOs added to the Russell Microcap Index.
Visit here for more information on the FTSE Russell global family of equity indexes. More information on 2024 planned updates and background on the annual rebalancing process can be found on the Russell Reconstitution resource hub.
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FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $15.9 trillion is benchmarked to FTSE Russell indexes. Leading asset owners, asset managers, ETF providers and investment banks choose FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
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