The Russell 3000 Index is about to be reconstituted, and when it is, Salem Communications will be one of its new members. The preliminary list was issued 6/8, toward an active date of 6/25.
Salem is interested in finding investors who are interested in its religious and conservative opinion content, which it delivers via radio, internet and print platforms.
The index “measures the performance of the largest 3000 U.S. companies representing approximately 98% of the investable U.S. equity market. The Russell 3000 Index is constructed to provide a comprehensive, unbiased, and stable barometer of the broad market and is completely reconstituted annually to ensure new and growing equities are reflected.”
Salem SVP/CFO Evan Masyr said, “We are excited to be added to the Russell 3000 Index, as this will increase exposure of our equity at a time when we are growing our investor relations outreach.”
According to Salem, “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 $3.9 trillion in institutional assets currently are benchmarked to them. 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.”
