Knowledge Center

Webinar Replay: Third Quarter 2016 Market Update webinar, presented by Josh Emanuel, Wilshire Funds Management CIO.

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The U.S. Equity Market: The U.S. stock market, represented by the Wilshire 5000 Total Market Index, was up for the third quarter of 2016 by 4.29%. This marks the fourth straight quarterly gain, although most of the pricing activity occurred during roughly the first dozen trading days of the quarter. Interestingly, strong equity returns this year have coincided with a drop in corporate earnings. However, a major contributor to that decline is performance within the Energy sector due to depressed oil prices.

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SANTA MONICA, CA, OCTOBER 11, 2016—The Wilshire Liquid Alternative Index^SM returned 0.11% in September, underperforming the HFRX Global Hedge Fund Index’s 0.55% return.

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Past performance does not guarantee future results. Mutual fund investors are all too familiar with these ubiquitous words. Yet despite the disclaimer, investors consistently turn to a fund’s past performance when making investment decisions. Does this approach make sense?

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SANTA MONICA, CA, SEPTEMBER 12, 2016—The Wilshire Liquid Alternative Index^SM returned 0.11% in August, underperforming the HFRX Global Hedge Fund Index’s 0.16% return by 5 basis points.

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U.S. Economy and Markets: Domestic equity markets were positive in August, as the Wilshire 5000 Total Market Index^SM returned 0.25% and the S&P 500 Index returned 0.14%. Market volatility increased in August, with the CBOE Volatility Index (VIX) ending the month at 13.07, up from 11.87 at the end of July 2016. Performance across GICS sectors was mixed for the month, with the Financials and Information Technology sectors leading the group, returning 3.31% and 2.06%, respectively. On the other hand, Utilities was the worst performing sector in August, falling -5.41%. Small cap stocks outperformed their large cap counterparts this month, with the Wilshire U.S. Large Cap Index^SM and the Wilshire U.S. Small Cap Index^SM returning 0.14% and 1.25%, respectively. U.S. manufacturing activity, as measured by the Institute for Supply Management’s PMI, registered 49.4% in August, down from the July reading of 52.6%. Generally a reading above 50% indicates expansion.

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SANTA MONICA, CA, AUGUST 10, 2016—The Wilshire Liquid Alternative Index^SM returned 1.17% in July, underperforming the HFRX Global Hedge Fund Index’s 1.45% return by 28 basis points.

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SANTA MONICA, CA, AUGUST 9, 2016—The Wilshire Income Opportunities Fund, an innovative, multi-manager fixed income fund subadvised by DoubleLine Capital LP and Guggenheim Partners Investment Management, has surpassed $400 million in assets under management. The fund, which launched on March 29, 2016, is the newest fund in the series of Wilshire Mutual Funds, Wilshire’s subadvised suite of mutual funds.

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U.S. Economy and Markets: Domestic equity markets were positive in July, as the Wilshire 5000 Total Market Index^SM returned 3.93% and the S&P 500 Index returned 3.69%. Market volatility decreased in July, with the CBOE Volatility Index (VIX) ending the month at 11.87, down from 15.63 at the end of June 2016. Performance across GICS sectors was mixed for the month, with the Information Technology and Materials sectors leading the group, returning 7.79% and 5.64%, respectively. On the other hand, Energy was the worst performing sector in July, falling -1.99%.

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Despite a turbulent start to 2016, global securities markets have shrugged off geopolitical concerns, slower economic growth, and a deterioration in earnings, delivering compelling returns for investors. Our analysis of the macroeconomic landscape continues to indicate slower economic growth and limited inflation, and we foresee potential economic headwinds resulting from “Brexit,” the vote by the U.K. to leave the European Union.  » more