Bill.com, a leading provider of cloud-based software that simplifies, digitizes, and automates complex, back-office financial operations for small and midsize businesses, is set to join the broad-market Russell 1000 Index at the conclusion of the 2020 Russell indexes annual reconstitution, effective after the US market opens on June 29, 2020 according to a preliminary list of additions posted June 5, 2020.
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“It reflects the long-term opportunity we are executing on as we continue to grow our business and help SMBs, the lifeblood of our economy, free themselves from the burden of manual and inefficient paper-based accounting processes.”
“Inclusion in the Russell 1000 Index is an important milestone and will increase the overall awareness and exposure we are seeing within the investment community,” said Bill.com CEO and Founder, René Lacerte. “It reflects the long-term opportunity we are executing on as we continue to grow our business and help SMBs, the lifeblood of our economy, free themselves from the burden of manual and inefficient paper-based accounting processes.”
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The Russell 1000® Index measures the performance of the large-cap segment of the US equity universe. It is a subset of the Russell 3000® Index and includes approximately 1,000 of the largest securities based on a combination of their market cap and current index membership. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
