Russell indexes are used by passive index funds tracking the index return and by active investment managers and institutional investors.
Wheels Up Experience Inc. has been added as a member of the broad-market Russell 3000 and Russell 2000 Indexes, according to an announcement from the private jet company.
It becomes effective when the U.S. market opens on June 29.
FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
CEO George Mattson said, “We are pleased to have been added to these important and closely followed market indexes, as we continue to make rapid progress in our business transformation since the Delta Air Lines-led investment into Wheels Up.”
Mattson continued, “With our fleet modernization complete, record operational performance, accelerating commercial momentum, and the continued backing of our primary investors, we believe we are well-positioned to deliver long-term value to our shareholders and customers.”
Russell indexes are widely used by passive index funds seeking to track the index return.
Active investment managers and institutional investors use them as benchmarks for active investment strategies.
About $12.2 trillion in assets are benchmarked to the Russell US indexes.
FTSE Russell calculates thousands of indexes.
The indexes measure and benchmark markets and asset classes in more than 70 countries.
They 98% of the investable market globally.
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