NAIC Commends Wilshire Consulting on New Manager Diversity Initiative

WASHINGTON, Feb. 7, 2018 /PRNewswire-USNewswire/ -- The National Association of Investment Companies applauds Wilshire Consulting for its recently announced inclusivity initiative that will result in institutional investors gaining greater access to the talent within diverse-owned firms.

Wilshire Consulting, the Santa Monica, Calif.-based institutional investment advisory and outsourced-CIO business unit of Wilshire Associates, will now include at least one diverse-owned firm in every public securities manager search it conducts for advisory clients, where products are available that fit the client mandate. Wilshire also tied senior consultant compensation to the quality and level of interaction with diverse-owned firms and plans to broaden its diverse-owned manager outreach and create a series of educational seminars.

The NAIC has long taken the position that institutional investors looking to generate greater returns should consider allocating capital with diverse-owned private equity firms. Our report, Examining the Returns: The Financial Returns of Diverse Private Equity Firms, quantifies the degree to which these diverse-owned firms consistently outperform their respective benchmarks and generate alpha to limited partners.

Robert L. Greene, President & CEO of the NAIC, commended the initiative. "The NAIC applauds Wilshire's efforts to identify the broadest talent pool available and believes Wilshire's steps to become more inclusive will greatly benefit their clients."

About the NAIC: The National Association of Investment Companies (www.naicpe.com) was founded in 1971. Comprised of nearly 50 member firms representing over $90 billion in assets under management, it is now the largest network of diverse-owned private equity firms and hedge funds in the United States.

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SOURCE National Association of Investment Companies