PHINIA Inc. (NYSE:PHIN), a leader in premium fuel systems, electrical systems, and aftermarket parts, today announced that the Company was added as a member of the US small-cap Russell 2000 Index, effective as of US market open on July 1, as part of the 2024 Russell Index’s reconstitution.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a prominent global index provider.
“Russell indexes–now in their 40th year–continue to evolve to reflect the dynamic US economy. Annual rebalancing plays a vital role in establishing accurate benchmarks, ensuring they correctly mirror their designated market segments and remain unbiased in terms of size and style,” said Fiona Bassett, CEO of FTSE Russell, An LSEG Business.
