Performant Financial Corporation set to join Russell Microcap® Index

Rhea-AI Summary

Performant Financial Corporation (Nasdaq: PFMT) will join the Russell Microcap® Index after the annual reconstitution on June 28. This membership, lasting one year, signifies inclusion in growth and value style indexes, enhancing the company's visibility and credibility. CEO Lisa Im states this move validates their growth efforts and can help broaden their investor base. The Russell indexes benchmark $10.6 trillion in assets, used by investment managers and institutional investors globally, indicating significant potential for increased investment in PFMT.

Positive

• Inclusion in the Russell Microcap Index enhances visibility and credibility, potentially broadening the investor base.
• Validation of Performant's growth efforts, indicating positive market reception.

Negative

• None.

Performant Financial Corporation (Nasdaq: PFMT), (the "Company"), a leading provider of technology-enabled recovery and related analytics services in the United States, is set to join the Russell Microcap^® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28^th, according to a preliminary list of additions posted June 4.

Membership in the Russell Microcap^® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“Our addition to the Russell Microcap Index is a validation of our growth efforts, and we are excited for this next chapter of our Company’s history. We believe the increased visibility and credibility will improve our ability to broaden our investor ownership base,” stated Lisa Im, CEO of Performant.

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 U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

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

About Performant Financial Corporation

Performant helps government and commercial organizations enhance revenue and contain costs by preventing, identifying and recovering waste, improper payments and defaulted assets. Performant is a leading provider of these services in several industries, including healthcare, student loans and government. Performant has been providing recovery audit services for more than ten years to both commercial and government clients, including serving as a Recovery Auditor for the Centers for Medicare and Medicaid Services.

Powered by a proprietary analytic platform and workflow technology, Performant also provides professional services related to the recovery effort, including reporting capabilities, support services, customer care and stakeholder training programs meant to mitigate future instances of improper payments. Founded in 1976, Performant is headquartered in Livermore, California.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210608005776/en/

FAQ

When will Performant Financial join the Russell Microcap Index?

Performant Financial will join the Russell Microcap Index on June 28, 2021.

What does joining the Russell Microcap Index mean for PFMT?

Joining the index enhances visibility and can improve investor ownership base.

How much in assets are benchmarked against Russell indexes?

Approximately $10.6 trillion in assets are benchmarked against Russell's U.S. indexes.

Who is the CEO of Performant Financial Corporation?

The CEO of Performant Financial Corporation is Lisa Im.

What services does Performant Financial provide?

Performant Financial provides technology-enabled recovery and analytics services to government and commercial organizations.