Russell Global index adds 5 US IPOs
NEW YORK, Sept 18 (Reuters) - Russell Investments, which provides benchmark stock performance indices, said on Thursday it will add five recent U.S. initial public offerings to its Global Index at the close of markets on Sept. 30.
The index will also add another 34 IPOs from the rest of the world, including 16 from the Asia Pacific region, 14 from Europe, and four from elsewhere in the Americas.
The Russell Global Index is down about 24.6 percent so far this year.
Shares of the five U.S. companies to be added have fallen 10 to 48 percent since their respective launches in 2008.
GT Solar International (SOLR.O), a solar equipment maker, has fallen by about 48 percent; Fifth Street Finance Corp (FSC.N), an asset management company, by 36 percent; Web hosting company Rackspace Hosting Inc (RAX.N), 28 percent; RHI Entertainment Inc (RHIE.O), a developer and distributor of made-for-television movies, 18 percent; and Energy Recovery Inc (ERII.O), a maker of energy recovery devices for water de-salination plants, 10 percent.
The five U.S. companies will also be added to the U.S. Russell 3000 Index .RUA, a component of the Russell Global Index which includes about 10,000 securities from more than 70 countries.
Russell Investments said in a statement that energy shares were the largest cohort among the new companies to be included in the global benchmark.
Russell Investment Group is headquartered in Tacoma, Washington, and is a subsidiary of Northwestern Mutual Life Insurance Co. (Reporting by Phil Wahba; Editing by Gary Hill)
