Source: Wilshire Trust Universe Comparison Service® (Wilshire TUCS®) and DALBAR’s 2018 Annual Quantitative Analysis of Investor Behavior Report (‘DALBAR Report’). Data on the average equity fund investor, average fixed income fund investor, and average asset allocation fund investor are from the DALBAR Report, which utilizes monthly mutual fund sales, redemptions, and exchanges as the measure of ‘average investor’ behavior, and refers to the average investor as the universe of all mutual fund investors whose actions and financial results are restated to represent a single investor. The DALBAR report represents average investor returns as the change in assets, after excluding sales, redemptions, and exchanges. This method of calculation captures realized and unrealized capital gains, dividends, interest, trading costs, sales charges, fees, expenses, and any other costs. Data on the average institutional investor is from Wilshire TUCS, defined as the median total return, gross of fees, of master trusts—all plans. Wilshire TUCS is a cooperative effort among Wilshire Associates, several global custodian banks and trust companies to aggregate asset allocation and holdings data representing more than three trillion dollars of U.S institutional assets. The chart shown intends to demonstrate what Wilshire believes to be the effect of behavioral biases, such as market timing, exhibited by retail investors. Other factors that may materially affect the difference in returns between retail and institutional investors include but are not limited to: size of asset pool, investment horizon, liquidity requirements, restraints and access to types, varieties, and brands of investments and lower fee investment options. The reader should view these returns in consideration of other relevant factors and should not rely solely on performance data shown. Past performance is not indicative of future results.
Wilshire’s 30+ years serving the institutional investor community informs our belief that global diversification, best-of-breed manager research, and access to alternative asset classes* can lead to better outcomes for investors. Through our lineup of managed portfolios, we offer the financial advisor community access to our experience.
*Alternative investments are subject to a number of risks and are not suitable for all investors.
Wilshire’s mutual funds deliver access to institutional-caliber money managers. Our proprietary research gives us a unique perspective—and insight—into the capabilities of each asset manager, allowing us to identify those that best fit into our multi-manager funds.
Managing your obligations as a fiduciary can be challenging. As a plan sponsor you are required to navigate the landscape of available investment managers, monitor plan investments, and more. In response to these needs, Wilshire Associates offers plan sponsors ERISA 3(21) and 3(38) services. These services offer:
Investing involves risk including loss of principal. Asset allocation/diversification does not ensure a profit or protect against loss.
The information provided on this page is not intended to be comprehensive investment advice applicable to the circumstances of the individual. We strongly recommend you consult with a financial advisor prior to making any investment decisions.
1You should consider the Fund’s investment objectives, risks, charges, and expenses carefully before you invest. The Fund’s prospectus, which can be obtained here, or by calling 1-866-591-1568, contains this and other information about the fund. Read the prospectus carefully before you invest or send money.
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This material is intended for informational purposes only and should not be construed as legal, accounting, tax, investment, or other professional advice; nor is it a recommendation or solicitation to purchase or sell any security or to adopt any specific investment strategy. This material represents the current opinion of Wilshire and is subject to change without notice. Information herein which has been obtained from third parties is based on sources believed to be reliable. Wilshire Funds Management does not represent that such information is accurate. Statistical data contained herein is as of the dates noted and such information should not be relied on or be the basis for an investment decision. Past performance is not indicative of future results. Investing involves risk including loss of principal.