NEW YORK–(BUSINESS WIRE)–Medallion Financial Corp. (Nasdaq: MFIN) announced today that, according
to a preliminary list of additions posted on June 7, 2019, it is set to
join the broad-market Russell 3000® Index at the conclusion of the 2019
Russell indexes annual reconstitution, which will be effective after the
US market opens on July 1, 2019.
Annual Russell indexes reconstitution captures the 4,000 largest US
stocks as of May 10, ranking them by total market capitalization.
Membership in the US all-cap Russell 3000® Index, which remains in place
for one year, means automatic inclusion in the large-cap Russell 1000®
Index or small-cap Russell 2000® Index as well as the appropriate growth
and value style indexes. FTSE Russell determines membership for its
Russell indexes primarily by objective, market-capitalization rankings
and style attributes.
“We are pleased to have been recognized in the broad-market Russell
3000® Index,” stated Andrew Murstein, President of Medallion Financial.
“We have worked diligently in executing our strategy to create
shareholder value and believe our inclusion in the Russell Index
represents an opportunity to continue to increase our visibility and
stature within the investment community.”
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for active investment
strategies. Approximately $9 trillion in assets are benchmarked against
Russell’s US indexes. Russell indexes are part of FTSE Russell, a
leading global index provider.
About Medallion Financial Corp.
Medallion Financial Corp. is a finance company that originates and
services loans in various industries, and its wholly-owned subsidiary,
Medallion Bank, also originates and services consumer loans. Medallion
Financial Corp. has lent more than $8.4 billion since its initial public
offering in 1996.
Please note that this press release contains forward-looking
statements that involve risks and uncertainties relating to business
performance, cash flow, costs, sales, net investment income, earnings,
and growth. Medallion Financial’s actual results may differ
significantly from the results discussed in such forward-looking
statements. Factors that might cause such a difference include,
but are not limited to, those factors discussed under the heading “Risk
Factors,” in Medallion Financial’s 2018 Annual Report on Form 10-K.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative
benchmarking, analytics and data solutions for investors worldwide. FTSE
Russell calculates thousands of indexes that measure and benchmark
markets and asset classes in more than 70 countries, covering 98% of the
investable market globally.
FTSE Russell index expertise and products are used extensively by
institutional and retail investors globally. Approximately $16 trillion
is currently benchmarked to FTSE Russell indexes. For over 30 years,
leading asset owners, asset managers, ETF providers and investment banks
have chosen FTSE Russell indexes to benchmark their investment
performance and create ETFs, structured products and index-based
A core set of universal principles guides FTSE Russell index design
and management: a transparent rules-based methodology is informed by
independent committees of leading market participants. FTSE Russell is
focused on applying the highest industry standards in index design and
governance and embraces the IOSCO Principles. FTSE Russell is also
focused on index innovation and customer partnerships as it seeks to
enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group. For more
information, visit www.ftserussell.com