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The end of June saw the completion of the annual “Russell rebalance,” the first rebalance to take place after the tumultuous fourth quarter of 2008.
The revised broad global index now includes 10,300 companies after the addition of approximately 1,100 stocks—about the same as the number of deletions. However, the broad index’s total market capitalization was down from last year roughly 35 percent to $34.9 trillion.
Among the highlights of the rebalance, Japan, China, Russia, Chile and South Africa all saw their weightings increase in the global index, while the weightings of France, Germany, India, Switzerland and the United Kingdom fell.
The U.S. had the largest number of additions of any individual country, at 278, and the financial services sector had by far the most of any sector, with 257.
The review also resulted in five emerging markets being excluded from the global index family: Pakistan, Ukraine, Vietnam, Latvia and the Slovak Republic. In each case, either the market itself or its individual securities did not qualify for inclusion.
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