DRASTIC CHANGE: Wilshire Asset suffers big drop; Falling markets, loss of Bell Atlantic account and move away from indexing cited as firm's assets decline by 49%.(Wilshire Asset Management)(Brief Article)(Statistical Data Included)

Pensions & Investments, April, 2001 by Kovaleski, Dave

SANTA MONICA, Calif. - Wilshire Asset Management suffered a 49% decline in its overall asset base in 2000, and a 63% drop in U.S. institutional tax-exempt assets. The Santa Monica-based money manager saw overall assets drop to $5 billion through Dec. 31, from $9.9 billion at the end of 1999, according to Pensions & Investments data.

Assets managed for U.S. tax-exempt clients fell to $3.2 billion from $8.6 billion. Several factors played into the declining asset base, said Chief Investment Officer Hal Reynolds. One was market depreciation - the Wilshire 5000 index declined 10.9% and the Wilshire 4500 dropped 15.7% last year. The firm's largest separate account, the $1.9 billion large company growth fund, suffered as a result, returning -17.3% in 2000,...

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