S&W Seed Company (Nasdaq: SANW), a leader in non-dormant alfalfa seed varieties, announced that its common stock was added as a member of the Russell Microcap Index after the equity markets closed on Friday June 22, 2012.
As a result of its inclusion in the Russell Microcap Index, SANW will automatically be added to the appropriate growth and value style indexes for the next 12 months. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Mark Grewal, president and chief executive officer of S&W Seed Company, said, "We are pleased to enter the Russell Microcap Index. This is a milestone in the growth of S&W as a public company and we hope for inclusion in more indexes in the coming years as we grow and mature."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. In the institutional marketplace, an industry-leading $3.9 trillion in assets currently are benchmarked to them. Russell calculates more than 80,000 benchmarks daily covering approximately 98 percent of the investable market globally, 83 countries and more than 10,000 securities.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000 ® Index and Russell Microcap Index. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.