Market Capitalization of US Public Companies

		As of June 30, 2008 Universe Sources: Dow Jones Wilshire Associates & Russell Investment Group $14.1 trillion total 4,751 companies
	Many investors look to the “Dow” (Dow Jones Industrial Average Index) as representative of the overall market, but this index covers only 30 of the largest U.S. companies, while there are approximately 4,751 that are publicly traded. A broader market indicator is the Russell 3000® Index, which represents approximately 98 percent of the publicly traded companies in the U.S. ranked by size, according to market capitalization (number of shares outstanding multiplied by current price per share) on the last Friday in June of each year. Many investment styles invest in companies that fall into a specific market capitalization range. Experts agree that it is important to compare investment managers to the benchmark or index that most closely tracks the companies they invest in based on this market capitalization range. ICM’s Ultra Small-Cap approach is best compared to the Russell Microcap™ Index, which lists companies with market capitalizations of $24 million to $748 million. ICM’s Small-Cap Value approach is best compared to the Russell 2000® and Russell 2000® Value Indicies, which lists companies with market capitalizations between $56 million to $3.88 billion. The Russell 2500™ and Russell 2500™ Indicies represent companies in the $56 million to $10.10 billion capitalization range are the benchmarks for ICM’s Small- to Mid-Cap Value approach. The Russell 1000® Index tracks companies with the average weighted market capitalization of $78.82 billion and is the benchmark for ICM’s Large Cap strategies.