Frank Russell Co. will provide information on probable additions and deletions to the Russell U.S. stock indexes beginning June 12. Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. companies; The Russell 1000 index comprises the largest 1,000 companies in the ranking, while the small-cap Russell 2000 index comprises the remaining 2,000 companies.
Final index membership goes into effect July 1 and will remain in place for a year. Membership in the indexes is determined strictly by market capitalization.
Police and Firemen's Disability & Pension Fund of Ohio, Columbus, will change its international custodian to State Street Bank Oct. 1. The $8 billion fund's international custodian was Morgan Stanley.
Executive Director Allen Proctor said he could not comment on the termination because the decision was made by State Treasurer Kenneth Blackwell. Bill Guy, deputy treasurer, said the decision was made because Morgan Stanley sold its global custody business to Chase.