Wilshire Alliance

Morrison Fiduciary Advisors utilizes the Wilshire Co-Op database for Performance Measurement, which is a market leader and recognized as the ‘Cadillac’ of the industry. Wilshire collects actual investment performance data from over 2,000 institutional plans representing client assets in excess of $1.0 trillion. The client portfolios of MFA are entered into this database and Wilshire runs a host of analytics to produce extensive output that addresses virtually all needs of the consulting client. The Wilshire database is highly sophisticated and allows the user a wide range of analytical approaches.  MFA reviews each investment manager’s account activity on a quarterly basis and then contacts investment managers to review quarterly performance and remain current with the qualifications and developments of each investment management firm. Depending on the results of these findings, special action is initiated (i.e. inform Committee of outstanding issues, resolve the issue through manager communication, etc.). These managers can then be scheduled to present at the quarterly client review meetings as necessary. 

MFA maintains an active dialogue with the Plan’s custodian to coordinate the flow of funds to and from the Plan’s account and to and from specific investment managers within the Plan. MFA also maintains an electronic interface between the custodian and the Wilshire Co-Op to download all investment data for analysis and reconciliation with the investment managers. This reconciliation with the manager includes written confirmation of calculated investment performance prior to the issuance of the client’s quarterly investment performance report.  From this reconciled data, MFA performs all of its consulting analysis and ensures that client investment policies are being properly adhered to. MFA reviews the total fund as well as each investment manager’s account activity on a quarterly basis to determine that the fund remains in compliance with the investment objectives and guidelines.

Wilshire assists in this analysis by screening all account holdings with reference to established investment policy parameters (entered by the Consultant) and issues ‘red flag’ reports to highlight investment policy exceptions and to draw attention to activities in the pension plan that warrant further attention (i.e. high trading volume, higher commission rates, inappropriate security holdings, high concentrations in any one security or industry sector, below investment grade bonds, investment managers with overlapping securities, pronounced growth and value stock biases, etc.). The Consultant then contacts investment managers to review the noted issues and either resolves the issues or reports the issues to the Board for evaluation and discussion.  (Back)