Lifestyle sportwear maker Ashworth to appear in Russell Microcap index
15 Jul '05
3 min read
Leading designer of golf-inspired lifestyle sportswear Ashworth Inc announced addition of Company's stock to the Russell Microcap index.
The newly launched Russell Microcap index, which debuted on July 1, 2005, is comprised of the smallest 1,000 securities in the small cap Russell 2000 Index along with the next 1,000 smallest companies, based on a ranking of all U.S. equities by market capitalization.
Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for both active and passive investment strategies.
According to Russell Investment Group, which reconstitutes its family of U.S. indexes yearly, more than $360 billion is invested in funds based on Russell indexes, and an additional $850 billion is benchmarked to them.
"We are very pleased to become a member of the Russell Microcap Index," commented Randall L. Herrel, Sr., Chairman and Chief Executive Officer of Ashworth, Inc. "We appreciate the added visibility that Ashworth will receive by being included on this index, which is used by many investors as part of their investment strategies."
Ashworth Inc is a designer of men's and women's golf-inspired lifestyle sportswear distributed domestically and internationally in golf pro shops, resorts, upscale department and specialty stores and to corporate customers. Ashworth products include three main brand extensions. Ashworth Collection is a range of upscale sportswear designed to be worn on and off course.
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