SOURCE: Russell Investments

Russell Investments

November 10, 2010 09:13 ET

Russell and Tadawul Sign Index Creation Agreement

SEATTLE, WA--(Marketwire - November 10, 2010) - Russell Investments and the Saudi Stock Exchange (Tadawul) -- which accounts for half of the entire equity market capitalization and nearly three-quarters of the entire equity value traded of all Gulf Cooperation Council (GCC) stock exchanges -- have signed an agreement under which Russell becomes authorized by Tadawul to offer Russell Indexes on the Saudi market.

Under the agreement, Russell is authorized to use real-time Tadawul prices and other data to create Russell Indexes that measure the performance of the Saudi stock market as well as regional GCC Russell Indexes. These Russell Indexes also may serve as the basis for third-party investment products such as mutual funds, ETFs and other financial products that enable investors to participate in the performance of the Saudi stock market.

Tadawul CEO Abdullah Suweilmy said, "Tadawul is pleased to welcome Russell Indexes to the growing list of authorized index providers operating in Saudi Arabia. With its expertise and international reach, asset managers from Saudi Arabia and around the world can now use the services of Russell Indexes. We are also delighted that Russell Indexes and Tadawul have agreed to jointly investigate other ways in which we can work together in the future."

Ron Bundy, CEO for Russell Indexes at Russell Investments, said, "Through this agreement with Tadawul we will deliver truly reflective, objective investment tools that cover the Saudi equity market. We anticipate a fruitful and close relationship with Tadawul and view it as a partnership with the goal of offering investors effective tools to participate in such an important market."

For more information about Tadawul please visit www.tadawul.com.sa.

About Russell Investments

Founded in 1936, Russell Investments is a global financial services firm that serves institutional investors, financial advisers and individuals in more than 40 countries. Over the course of its history, Russell's innovations have come to define many of the practices that are standard in the investment world today, and have earned the company a reputation for excellence and leadership. The firm has $149 billion in assets under management, as of September 30, 2010. To see how Russell helps to improve financial security for people, visit www.russell.com.

Russell launched its family of indexes in 1984 to more accurately measure U.S. market segments and better track investment manager behavior for its investment management and consulting businesses. The innovative index design includes float-adjusted market capitalization, annual reconstitution, multifactor style analysis as well as objective and transparent rules. Russell Indexes account for more than $3.9 trillion in benchmarked assets, as of December 31, 2009.

Russell Investment Group is a Washington, USA corporation, which operates through subsidiaries worldwide, including Russell Investments, and is a subsidiary of The Northwestern Mutual Life Insurance Company.

Russell Investments is the owner of the trademarks, service marks and copyrights related to its indexes. Russell's indexes are unmanaged and cannot be invested in directly.

Nothing contained in this material is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The general information contained in this publication should not be acted upon without obtaining specific legal, tax, and investment advice from a licensed professional.