Leonid Reiman, Russian Telecommunications Minister, has been named the Chairman of the Advisory Board of Russian Industrial Leaders (RUXX), which is calculated by Dow Jones. RUXX is an composite index of all Russian companies traded on offshore exchanges. Mr. Reiman has been named the Chairman of the Advisory Board at an annual meeting of the RUXX Index Board.
The board, consisting of nine members, has said in a statement commenting on the election: IT sector is one of the major sectors of the Russian economy available to international investors through major exchanges. IT companies were the first to list their shares on the western exchanges and are in high demand among the investors, both institutional and private. Mr. Reiman, being the Telecommunications minister of Russian Federation, helped to shape Russian IT sector into a high growth sector compliant with high international investment requirements.
Russian Industrial Leaders Index (RUXX) tracks the performance of the U.S. and U.K. Exchange-listed Depositary Receipts in American (ADR) or Global (GDR) form, New York Shares, and Global Shares of the Russian companies that are listed for trading on The New York Stock Exchange (NYSE), American Stock Exchange (AMEX), London Stock Exchange (LSE) and Nasdaq Stock Market (NASDAQ). It serves as a benchmark of attractiveness of Russian stocks for the western financial community. Currently, the Index includes thirty two companies and its capitalization reaches 300 billion dollars.