NEW YORK, Oct. 16, 2006 (PRIMEZONE) -- Dow Jones Indexes, a leading global index provider, and Wilshire Associates Incorporated, a global leader in investment technology, investment consulting and investment management, today announced the launch of the Dow Jones Wilshire Global Index Family.
Anchored by the Dow Jones Wilshire Global Total Market Index(sm), which includes more than 12,000 stocks in 56 countries with a float-adjusted market capitalization of nearly $34 trillion, the new index family seeks to measure all stocks with readily available prices in the world's markets. The Dow Jones Wilshire Global Index Family is regularly updated monthly and re-balanced semi-annually and uses a transparent, published, rules-based methodology.
The new index family is an ideal tool for asset managers and institutional investors to use in benchmarking the international exposure in their portfolios. That's because the Dow Jones Wilshire Global Total Market Index represents the broadest possible "opportunity set" of equities from which individual stocks may be selected for portfolios. It also provides precise performance-measurement tools, enabling institutional consultants and financial advisors to offer more targeted information to their clients.
Other indexes in the Dow Jones Wilshire Global Index Family include the Dow Jones Wilshire Global Size Indexes (measuring large and small stocks), Dow Jones Wilshire Global Industry Indexes (based on the Industry Classification Benchmark) and Dow Jones Wilshire Global Regional and Country Indexes. Style Indexes are planned for 2007.
The Dow Jones Wilshire Global Regional and Country Indexes include indexes for these regions and sub-regions: Americas, Africa & Middle East, Asia-Pacific, and Europe; Americas exUS, Asia-Pacific exJapan, Middle East, Africa, Developed Europe, Emerging Europe, Latin America, Developed Europe exUK, Euro Area and Nordic Europe.
The Dow Jones Wilshire 5000(sm), the broadest measure of the U.S. stock market, is the U.S. component of the Global Total Market Index.
"As the world we live in seems to become smaller, the market universe we invest in is growing larger, along with the accompanying opportunities and risks," said Michael A. Petronella, president of Dow Jones Indexes. "This suite of indexes offers plan sponsors, trustees, asset managers and individual investors the best available gauges for consistent benchmarking of their investments in domestic, international and emerging markets."
"With the ever widening search for performance and diversification, the investment community required a new broader measure of the world's markets," noted Dennis A. Tito, chairman and chief executive officer of Wilshire Associates who developed the then-named Wilshire 5000 in 1974. "The Dow Jones Wilshire Global family was created to meet these needs by providing indexes that are consistent and comprehensive at the country, sector and global levels the same way the Dow Jones Wilshire 5000 was created 30 years ago to meet an unmet need for the U.S securities market."
In support of the new index family, a series of forums will be held to discuss indexing in a global economy, beginning with a panel discussion at the United Nations on October 25th. Alan Murray, Deputy Managing Editor of The Wall Street Journal, will moderate the October 25th forum at the United Nations, where discussion topics will include: "Measuring Emerging Markets;" "Country vs. Global Sector Approaches;" and "Integration of Domestic and International Strategies." Forums also will be held in Los Angeles on Nov. 7, San Francisco on Nov. 8 and Chicago on Nov. 28. Other cities will follow early in 2007.
About the Dow Jones Wilshire Index Family
The development of the global family of indexes marks a new phase of the Dow Jones-Wilshire relationship. The affiliation began in 2004 when Dow Jones and Wilshire co-branded and marketed the Dow Jones Wilshire family of indexes. Now, by extending the Dow Jones Wilshire methodology used in the U.S. internationally, the global indexes provide unprecedented breadth, consistent global coverage, and objective and transparent rules.
Float-adjusted capitalization-weighted versions of the Dow Jones Wilshire 5000, 4500, RESI and REIT indexes were launched on May 1, 2004. The large-, small- and micro-cap indexes, as well as growth and value indexes, were launched March 14, 2005. The top 10 industries, as defined by the Industry Classification Benchmark(sm) system, were first published in August 2005, followed by the lower ICB(sm)hierarchy levels December 2005.
Dow Jones Wilshire indexes are available on market-data vendor platforms- many in real-time format-and on the Dow Jones Indexes (www.djindexes.com) and Wilshire Associates (www.wilshire.com) Web sites. The Dow Jones Wilshire 5000 Composite Index(sm) is calculated and distributed by Dow Jones Indexes pursuant to an agreement between Dow Jones & Company and Wilshire Associates Incorporated. "Dow Jones" and "Wilshire" are the respective service marks of Dow Jones & Company, Inc. and Wilshire Associates Incorporated.
Journalists may e-mail questions regarding this press release to PR-Indexes@dowjones.com or contact Dow Jones Indexes/STOXX press office:
New York: +1-212-597-5720 Frankfurt: +49-69-29-725-290
To contact Wilshire Associates public relations, please e-mailkim.shepherd@wilshire.com or call: Chicago: Kim Shepherd, +1-847-332-2987
Note to Editors:
About Dow Jones Indexes
Dow Jones Indexes is part of Dow Jones & Company, which publishes the world's most vital business and financial news and information. Dow Jones Indexes is a premier global provider of investable indexes, including the Dow Jones Averages and the Dow Jones Global, Regional, Country and Sector Titans Indexes and is co-owner of the Pan-European Dow Jones STOXX Indexes. Together with Wilshire Associates, Dow Jones Indexes markets and licenses the Dow Jones Wilshire index family, which includes the Dow Jones Wilshire 5000 and its size, style, and sector indexes. Dow Jones Indexes also offers a number of specialty indexes including hedge fund, commodity and credit derivative indexes.
In addition to Dow Jones Indexes, Dow Jones & Company (NYSE:DJ) (www.dowjones.com) publishes The Wall Street Journal and its international and online editions, Barron's and the Far Eastern Economic Review, Dow Jones Newswires, MarketWatch and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva and with Hearst of SmartMoney. Dow Jones also provides news content to CNBC and radio stations in the U.S.
About Wilshire Associates
Wilshire Associates is a leading global investment technology, investment consulting and investment management firm with four business units: Wilshire Analytics, Wilshire Funds Management, Wilshire Consulting, and Wilshire Private Markets. The firm was founded in 1972, revolutionizing the industry by pioneering the application of investment analytics and research to investment management for the institutional marketplace. Wilshire also is credited with helping to develop the field of quantitative investment analysis that uses mathematical tools to analyze market risks. All other business units evolved from Wilshire's strong analytics foundation.
Wilshire developed the index now known as the Dow Jones Wilshire 5000 Composite Index(sm), the first asset/liability models for pension funds, the first U.S. equity style metrics work and many other "firsts" as the firm grew to more than 300 employees serving the investment needs of institutional and high net worth clients around the world.
Based in Santa Monica, CA, Wilshire provides services to clients in more than 20 countries representing in excess of 600 organizations with assets totaling more than $12.5 trillion. With nine offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services. Please visit www.wilshire.com for more information.
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