Performant Financial Corporation, a provider of technology-enabled recovery analytics services, is set to join the Russell Microcap Index.
The group is due to join at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the US market opens on June 28.
Via the membership, Performant will automatically be included in Russell’s growth and value style indexes for one year.
FTSE Russell determines membership for its Russell indexes by a combination of objective, market-capitalization rankings, and style attributes.
Lisa Im, CEO at Performant, said: “Our addition to the Russell Microcap Index is a validation of our growth efforts, and we are excited for this next chapter of our company’s history.
“We believe the increased visibility and credibility will improve our ability to broaden our investor ownership base.”
Some $10.6tn in assets are benchmarked against Russel’s US indexes, which are a part of global index provider FTSE Russell.