Russell Investment Group will add initial public offerings to its stock indexes every quarter beginning Sept. 30 to more accurately reflect the U.S. market, Russell, a unit of Northwestern Mutual Life Insurance Co., said Tuesday.
IPOs had been added once a year as part of Russell's annual index reconstitution. The new plan means about 40 IPOs -- including Google Inc. -- will join the indexes at the end of the third quarter this year, said Russell, which manages more than $110 billion in assets.
