Aviat Networks added to membership of US small-cap Russell 2000® Index

Rhea-AI Summary

Aviat Networks was added to the US small-cap Russell 2000 Index, effective June 28, 2021, as part of the annual Russell indexes reconstitution. This inclusion is anticipated to enhance the company's visibility among institutional investors, as Russell indexes are benchmarked by approximately $10.6 trillion in assets. Aviat's VP of Global Finance, Keith Fanneron, expressed optimism about the benefits of increased exposure for the company's strategic and financial plans.

Positive

• Inclusion in the Russell 2000 Index enhances visibility among institutional investors.
• Anticipated benefits from exposure to approximately $10.6 trillion in assets benchmarked against Russell indexes.

Negative

• None.

AUSTIN, Texas, June 28, 2021 /PRNewswire/ -- Aviat Networks, Inc. (NASDAQ: AVNW); was added as a member of the US small-cap Russell 2000^® Index, effective after the US market opens on June 28, as part of the 2021 Russell indexes reconstitution. Membership in the Russell 2000^® Index, which remains in place for one year, is based on membership in the broad-market Russell 3000^® Index. The stock also was automatically added to the appropriate growth and value indexes.

"We are pleased to be included in the Russell 2000^® Index and Aviat welcomes the increased exposure as we continue to execute our strategic and financial plan," said Keith Fanneron, Aviat Networks VP Global Finance and Investor Relations. "Inclusion in this index benefits our Company and shareholders by elevating our visibility."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 2000^® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

About Aviat Networks:   

Aviat Networks, Inc. is the leading expert in wireless transport solutions and works to provide dependable products, services and support to its customers. With more than one million systems sold into 170 countries worldwide, communications service providers and private network operators including state/local government, utility, federal government and defense organizations trust Aviat with their critical applications. Coupled with a long history of microwave innovations, Aviat provides a comprehensive suite of localized professional and support services enabling customers to drastically simplify both their networks and their lives. For more than 70 years, the experts at Aviat have delivered high performance products, simplified operations, and the best overall customer experience. Aviat Networks is headquartered in Austin, Texas. For more information, visit www.aviatnetworks.com or connect with Aviat Networks on Twitter, Facebook and LinkedIn.

Media Contact: Gary Croke, Aviat Networks, Inc., gary.croke@aviatnet.com

Investor Contact: Keith Fanneron, VP Global Finance and Investor Relations, keith.fanneron@aviatnet.com or 408-941-7128

About FTSE Russell:

FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

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SOURCE Aviat Networks, Inc.

FAQ

What does Aviat Networks' inclusion in the Russell 2000 Index mean for shareholders?

Inclusion in the Russell 2000 Index is expected to increase Aviat Networks' visibility and attract institutional investors, potentially benefiting shareholders.

When was Aviat Networks added to the Russell 2000 Index?

Aviat Networks was added to the Russell 2000 Index effective June 28, 2021.

How does being in the Russell 2000 Index affect Aviat Networks' stock performance?

Being part of the Russell 2000 Index may lead to increased demand for Aviat Networks' stock, as it is now included in popular index funds used by institutional investors.

What is the significance of the Russell 2000 Index for Aviat Networks?

The Russell 2000 Index is a benchmark for US small-cap stocks, and inclusion can enhance visibility and credibility among investors.