Russell Investment Group will add 48 IPOs - including KKR Financial Corp., Ruth's Chris Steak House and Maidenform Brands - to its broad-market Russell 3000 index after the close of the U.S. stock market on Sept. 30, confirmed Kelly Haughton, strategic director of Russell Indexes, a division of Russell Investment Group. The list includes 13 financial services firms, nine consumer goods firms and four technology firms, according to a news release from Russell.
In addition, 43 IPOs will be added to the Russell Microcap index.
"We're seeing an upward trend in the number of IPOs since about 2002, but we still have not reached the levels we saw in the late '90s," Mr. Haughton said in an interview.
Last year, Russell began adding IPOs to its indexes quarterly. Before that, they were added during the annual index reconstitution. "One of the things we've seen is that this reduces the size of the impact of the annual reconstitution on the Russell 2000 because a lot of the additions have already occurred," Mr. Haughton said.
The complete list of IPOs to be added is available at www.russell.com/US/Indexes/US/IPOs.asp.