Pension Plan Median Performance Up Slightly in Third Quarter

Wilshire's Trust Universe Comparison Service Shows YTD Median Gain of 3.26 Percent

Santa Monica, California, UNITED STATES


SANTA MONICA, Calif., Nov. 10, 2004 (PRIMEZONE) -- The median performance of master trusts rose slightly in the third quarter gaining 0.29 percent according to the Trust Universe Comparison Service (TUCS), a cooperative effort between Wilshire Analytics, the investment technology unit of Wilshire Associates, and custodial organizations. With 350 plan participants representing approximately $1.9 trillion in assets, TUCS is the most widely accepted benchmark for the performance of institutional assets and includes data from corporate and public plans as well as endowments and foundations.

Year to date, TUCS showed a median performance gain for all master trusts of 3.26 percent. Master trusts with assets greater than $1 billion performed somewhat better gaining 3.67 percent. The one-year median performance stands at 12.5 percent for all master trusts with master trusts with assets greater than $1 billion up 13.05 percent.

TUCS reports the rates of return for the time periods ending September 30, 2004 are as follows (returns for periods greater than one year are annualized):


 All Master Trusts
 One Quarter = 0.29%
 Three Quarters = 3.26
 One Year = 12.50
 Three Years = 7.05

 Corporate Funds
 One Quarter = 0.40%
 Three Quarters = 3.47
 One Year = 12.56
 Three Years = 7.15

 Public Funds
 One Quarter = 0.48%
 Three Quarters = 3.42
 One Year = 12.52
 Three Years = 6.86

 Foundations and Endowments
 One Quarter = 0.16%
 Three Quarters = 3.17
 One Year = 12.92
 Three Years = 6.79

 All Master Trusts with Assets Greater than $1 billion
 One Quarter = 0.50%
 Three Quarters = 3.67
 One Year = 13.05
 Three Years = 7.43

 Corporate Funds with Assets Greater than $1 billion
 One Quarter = 0.50%
 Three Quarters = 3.93
 One Year = 13.19
 Three Years = 7.67

 Public Funds with Assets Greater than $1 billion
 One Quarter = 0.55%
 Three Quarters = 3.47
 One Year = 12.60
 Three Years = 6.90

 Foundations and Endowments with Assets Greater than $1 billion
 One Quarter = 0.73%
 Three Quarters = 3.84
 One Year = 13.52
 Three Years = 7.82

 Asset Allocation
 TUCS reported median asset allocations by fund type as follows:

 All Master Trusts
 Equities = 62%
 Bonds = 27.72
 Cash = 4.04
 Convertibles = 0.0
 GIC/GAC = 0.0
 Real Estate 0.0
 Venture Capital = 0.90
 Other = 0.0

 Corporate Funds
 Equities = 62.42%
 Bonds = 28.47
 Cash = 4.16
 Convertibles = 0.0
 GIC/GAC = 0.0
 Real Estate 0.0
 Venture Capital = 0.12
 Other = 0.0

 Public Funds
 Equities = 60.87%
 Bonds = 29.80
 Cash = 3.40
 Convertibles = 0.01
 GIC/GAC = 0.0
 Real Estate 0.2
 Venture Capital = 0.90
 Other = 0.0

 Foundations and Endowments
 Equities = 62.02%
 Bonds = 19.14
 Cash = 3.91
 Convertibles = 0.00
 GIC/GAC = 0.00
 Real Estate 0.00
 Venture Capital = 10.72
 Other = 0.00

 All Master Trusts with Assets Greater than $1 billion
 Equities = 61.03%
 Bonds = 27.24
 Cash = 4.75
 Convertibles = 0.02
 GIC/GAC = 0.0
 Real Estate 0.54
 Venture Capital = 3.21
 Other = 0.0

 Corporate Funds with Assets Greater than $1 billion
 Equities = 61.73%
 Bonds = 28.22
 Cash = 5.40
 Convertibles = 0.02
 GIC/GAC = 0.0
 Real Estate 1.18
 Venture Capital = 3.21
 Other = 0.0

 Public Funds with Assets Greater than $1 billion
 Equities = 59.42%
 Bonds = 28.48
 Cash = 3.35
 Convertibles = 0.02
 GIC/GAC = 0.0
 Real Estate 0.28
 Venture Capital = 2.78
 Other = 0.0

 Foundations and Endowments with Assets Greater than $1 billion
 Equities = 55.64%
 Bonds = 21.41
 Cash = 4.75
 Convertibles = 0.00
 GIC/GAC = 0.00
 Real Estate = 0.03
 Venture Capital = 14.33
 Other = 0.0

About Wilshire Associates

Wilshire Associates is a leading global investment technology, investment consulting and investment management firm with four business units including 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 managers 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, 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 eight offices on four continents, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services. For more information go to www.wilshire.com



        

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