Delta Financial Corporation (NASDAQ:DFC) has been added to the broad-market Russell 3000® Index when Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes on June 22, according to the official membership posted on www.russell.com.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
“We are very pleased to have been selected to join the prestigious group of companies which comprise the Russell 3000,” said Hugh Miller, President and CEO of Delta Financial Corporation.
“2007 has already been a milestone year for the company. We transitioned to the NASDAQ in March; we produced record origination volume in the first quarter; securitized more than $1.9 billion of mortgage loans through May 2007; and increased our credit facilities to $2.5 billion,” added Miller.
The Russell 3000 serves as the U.S. component to the Russell Global Index, which Russell launched earlier this year to offer investors a comprehensive set of equity benchmarks that cover world-wide investing opportunities.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them.
Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking are eligible for the Russell 1000 and the next 2,000 companies comprise the Russell 2000. 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.
Russell Investment Group aims to improve financial security for people by providing strategic advice, world-class implementation, state-of-the-art performance benchmarks, and a range of institutional-quality investment products. With more than $200 billion in assets under management, Russell serves individual, institutional and advisor clients in more than 40 countries. Russell provides access to some of the world’s best money managers. It helps investors put this access to work in corporate defined benefit and defined contribution plans, and in the life savings of individual investors.
Founded in 1936, Russell is a subsidiary of Northwestern Mutual Life Insurance Company. Headquartered in Tacoma, Wash., U.S., Russell has principal offices in Amsterdam, Auckland, Hong Kong, Johannesburg, London, Melbourne, New York, Paris, San Francisco, Singapore, Sydney, Tokyo and Toronto.
Russell’s indexes are unmanaged and cannot be investing in directly. For more information on Russell indexes, go to www.russell.com.
About Delta Financial Corporation:
Founded in 1982, Delta Financial Corporation is a Woodbury, New York-based specialty consumer finance company that originates, securitizes and sells non-conforming mortgage loans. The loans the Company originates are primarily fixed rate, and are secured by first mortgages on one- to four-family residential properties. The Company originates non-conforming loans through a network of approximately 3,200 independent brokers and the Company's retail offices. Since 1991, Delta has completed 52 asset-backed securitizations, collateralized by approximately $19.7 billion in mortgage loans.