HOUSTON, June 24 /PRNewswire-FirstCall/ -- New Generation Biofuels Holdings, Inc. (AMEX: GNB), a renewable fuels provider which just listed on the American Stock Exchange (AMEX) in mid-April, will join the Russell Microcap Index when Russell Investments reconstitutes its family of U.S. indexes on Friday, June 27th, after the market closes, according to a preliminary list of additions posted Friday on http://www.russell.com.
Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
"We are extremely pleased to have been selected to the Russell Index," said Cary J. Claiborne, Chief Financial Officer. "Inclusion increases our visibility to a broader investment community." Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4.4 trillion in assets currently are benchmarked to them.
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. 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.
|SOURCE New Generation Biofuels|
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