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Russell Rebalancing Points To $2 Trillion Drop In Markets
By Journal of Indexes Staff

At the end of June, Russell Investments concluded its massive annual rebalancing. Assets benchmarked to the Russell family of indexes reached a record high of around $4.4 trillion in 2007. In addition, some $593 billion in exchange-traded funds assets were tied to Russell benchmarks—both actively and passively.

Some 45 companies moved up from the small-cap Russell 2000 Index to the large- and mid-cap Russell 1000 Index this year. Meanwhile, another 34 moved down from the Russell 1000 to the Russell 2000—including seven stocks from the financial services sector.

Although the total movement of names in and out of the index was similar to the previous rebalance, the drama of the last year over credit markets and energy and commodity market costs has had its effects. According to Russell, the Russell 3000 has experienced a nearly $2 trillion drop in market cap since its October 2007 highs.
 

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