WCI Communities, Inc. (NYSE:WCIC), a lifestyle community developer and luxury homebuilder, today announced that it was added to the Russell 3000 ® Index, Russell Microcap ® Index, Russell Global Index, and the Russell 2000 ® Index effective September 30, 2013 according to a preliminary list of additions posted at http://www.russell.com/indexes.
“We are pleased to be included in the most recent reconstitution of the Russell Indexes,” said Keith Bass, President & Chief Executive Officer. “We look forward to the opportunity to expand our shareholder base and global exposure following our successful listing on the New York Stock Exchange in July.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Approximately $4.1 trillion in assets currently are benchmarked to them. Russell calculates more than 80,000 benchmarks daily covering approximately 98 percent of the investable market globally, more than 80 countries and 10,000 securities. 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.
About WCI Communities, Inc.
WCI Communities is a lifestyle community developer and luxury homebuilder of single- and multi-family homes in most of coastal Florida's highest growth and largest markets. With a legacy that spans more than 60 years, WCI Communities has an established expertise in developing amenity rich, lifestyle oriented master-planned communities, catering to move-up, active adult and second-home buyers. Headquartered in Bonita Springs, Florida, WCI Communities is a fully integrated homebuilder and developer with complementary real estate brokerage and title services businesses.
Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Russell stands with institutional investors, financial advisors and individuals working with their advisors—using the firm’s core capabilities that extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes to help each achieve their desired investment outcomes.
Russell has more than $173 billion in assets under management (as of 3/31/2013) and works with over 2,500 institutional clients, independent distribution partners and individual investors globally. As a consultant to some of the largest pools of capital in the world, Russell has $2.6 trillion in assets under advisement (as of 12/31/2012). It has four decades of experience researching and selecting investment managers and meets annually with more than 2,200 managers around the world. Russell traded more than $1.4 trillion in 2012 through its implementation services business.
The information in this Press Release may include forward-looking statements within the meaning of the federal securities laws, and should be evaluated as such. Because such statements are subject to risks and uncertainties, actual results may differ materially than those expressed or implied by such forward-looking statements. For more information concerning factors, risks and uncertainties affecting the Company, please refer to the Company’s filings with the Securities and Exchange Commission, including the “Risk Factors” section in our most recent quarterly report on Form 10-Q filed with the Securities and Exchange Commission on August 20, 2013. The forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements, whether as a result of new information, future events or otherwise.
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