Abacus Global Management (NASDAQ:ABL) began trading Monday as part of the Russell 2000 and Russell 3000 indexes, a milestone that brings the Orlando-based asset manager onto the radar of a wider set of investors.
Index inclusion matters because fund managers who track these benchmarks are often required to buy the shares.
Roughly $10.6 trillion in assets are benchmarked against Russell’s US indexes, according to FTSE Russell, the index provider.
Membership in the Russell 2000, which covers smaller US companies, also means automatic entry into the broader Russell 3000 and related growth and value style indexes.
“Inclusion in these Russell indices marks an important milestone in our company’s journey, enhancing our visibility among the broader investment community and validating our team’s ability to drive value to shareholders,” said Jay Jackson, Abacus’s chairman and chief executive.
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