Spherix Set to Join Russell Microcap Index
BETHESDA, Md., June 17, 2014
BETHESDA, Md., June 17, 2014 /PRNewswire/ --Spherix Incorporated (NASDAQ:
SPEX)--an intellectual property development company committed to the
fostering and monetization of intellectual property, today announced it is set
to join the Russell Microcap^® Index when Russell Investments reconstitutes
its comprehensive set of U.S. and global equity indexes on June 27, according
to a preliminary list of additions posted June 13 on www.russell.com/indexes.
Membership in the Russell Microcap Index, which remains in place for one year,
means automatic inclusion in the appropriate growth and value style indexes.
Russell determines membership for its equity indexes primarily by objective,
market-capitalization rankings and style attributes.
Anthony Hayes, Chief Executive Officer of Spherix, stated, "We are pleased to
be included in the Russell Microcap Index and look forward to the additional
investment community exposure this membership is expected to bring. Inclusion
will further raise our profile as we continue to gain momentum in our efforts
to monetize our portfolio of intellectual property patents. This event
represents yet another step in the evolution and growth of Spherix."
Russell indexes are widely used by investment managers and institutional
investors for index funds and as benchmarks for active investment strategies.
Russell calculates more than 700,000 benchmarks daily covering approximately
98 percent of the investable market globally, 80 countries and more than
10,000 securities.Approximately $5.2 trillion in assets are benchmarked to
the Russell Indexes.
Annual reconstitution of Russell Indexes captures the 4,000 largest U.S.
stocks as of the end of May, ranking them by total market capitalization to
create the Russell 3000^® Index and Russell Microcap Index. These investment
tools originated from Russell's multi-manager investment business in the early
1980s when the company saw the need for a more objective, market-driven set of
benchmarks in order to evaluate outside investment managers.
Total returns data for the Russell Microcap and other Russell Indexes is
Russell Investments (Russell) is a global asset manager and one of only a few
firms that offers actively managed multi-asset portfolios and services that
include advice, investments and implementation. Russell stands with
institutional investors, financial advisors and individuals working with their
advisors—using the firm's core capabilities that extend across capital market
insights, manager research, portfolio construction, portfolio implementation
and indexes to help each achieve their desired investment outcomes.
Russell has more than $259 billion in assets under management (as of
3/31/2014) and works with over 2,500 institutional clients, independent
distribution partners and individual investors globally. As a consultant to
some of the largest pools of capital in the world, Russell has $2.4 trillion
in assets under advisement (as of 6/30/2013). It has four decades of
experience researching and selecting investment managers and meets annually
with more than 2,200 managers around the world. Russell traded more than $1.6
trillion in 2013 through its implementation services business. Russell also
calculates approximately 700,000 benchmarks daily covering 98% of the
investable market globally, including more than 80 countries and more than
10,000 securities. Approximately $5.2 trillion in assets are benchmarked (as
of 12/31/2013) to the Russell Indexes, which have provided investors with 30
years of smarter beta.
Spherix Incorporated was launched in 1967 as a scientific research company.
Spherix is committed to advancing innovation by active participation inthe
patent market. Spherix draws on portfolios of pioneering technology patents to
partner with and support product innovation.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking
statements" within the meaning of the federal securities laws. Words such as
"may," "might," "will," "should," "believe," "expect," "anticipate,"
"estimate," "continue," "predict," "forecast," "project," "plan," "intend" or
similar expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. While the Company believes these
forward-looking statements are reasonable, undue reliance should not be placed
on any such forward-looking statements, which are based on information
available to us on the date of this release. These forward looking statements
are based upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set forth in the
Company's filings with the Securities and Exchange Commission (the "SEC"), not
limited to Risk Factors relating to its patent business contained therein.
Thus, actual results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a result of
new information, future events or otherwise, except as required by law.
Investor Relations Contact:
Phone: (646) 536-7331
Phone: (703) 992-9325
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SOURCE Spherix Incorporated
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