US-based index provider Russell has launched a fully integrated family of global stock indices that provide investors worldwide with a comprehensive set of equity benchmarks, which cover small-cap and large-cap companies in developed and emerging markets.

The new Russell Global Index covers 98% of the investable global market, including more than 10,000 stocks, divided into a family of indexes that cover 22 regions and 64 countries.

Its market capitalisation breaks are applied globally, not on a country-by-country basis, which reflects the shift from country to company orientation and investors' search for broader mandates. This ensures that companies of the same size are accurately represented in the large-and small-cap indexes across regions and countries.

Russell's global relative design aims to eliminate gaps and overlaps when combining regional indices, and helps investors avoid sampling bias inherent in indices that only include selected stocks in different countries or regions.

The index also offers the first truly global small-cap benchmarks for institutional investors, including a small-cap component of approximately 7,000 investable companies from countriesworldwide. Its modular design is set to enable access to plenty of market segments across a variety of dimensions, for example large-cap or small-cap stocks across regions or countries.

David Grieger, managing director Russell Indexes, said: "Our global indices are designed to capture all sufficiently liquid stocks that are actively traded and readily accessible to global investors. Thus the 10,000 or so companies in this global benchmark are selected by float-adjusted market capitalisation and their trading liquidity threshold."