Dow Jones Indexes and Wilshire Associates have jointly created the Dow Jones Wilshire Indexes Advisory Board.

The board has been set up to address worldwide market trends and issues as the Dow Jones Wilshire 5000 Composite Index expands globally in the second half of 2006.

The eight board members are experts in the areas of money management, investment products, indexing, and pension and retirement plans. The Board will help ensure that the benchmark equity index family represents the most current tools for risk and return assessment.

The board members are:

  • John C Bogle, President, Bogle Financial Markets Research Center
  • Paul Brakke, Senior Principal, State Street Global Advisors
  • Robert Podgorny, President, National Conference on Public Employee Retirement Systems
  • Steven Schoenfeld, Chief Investment Strategist, The Northern Trust Company
  • Wayne H Wagner, Senior Vice President & Chairman, Plexus Group
  • Ronnee Ades, Senior Director, Institutional Markets, Dow Jones Indexes
  • John A Prestbo, Editor & Executive Director, Dow Jones Indexes
  • Robert J Waid, Vice President & Principal, Wilshire Associates

Prestbo will serve as chairman of the Dow Jones Wilshire Advisory Board, and Ades will serve as its executive director.

'The Dow Jones Wilshire 5000 is undisputed as the broadest measure of the US stock market today,' says Michael A Petronella, president of Dow Jones Indexes/Ventures. 'Designed to meet the needs of institutional investors, the benchmark captures the performance of all domestic equities, and the full index suite breaks the market down further according to size, style and sector. As we develop the global index family - which has been in the works since Dow Jones Indexes and Wilshire Associates teamed up in 2004 and began with the March 2006 launch of the Dow Jones Wilshire Global Real Estate Indexes - we expect our newly appointed Advisory Board to be instrumental in the global expansion process.'

Dennis A Tito, chairman and chief executive officer of Wilshire Associates, adds: 'Through the years, both Wilshire Associates and Dow Jones Indexes have sought input from industry leaders as we developed and refined our indexes. We always found the feedback to be extremely helpful and critical to meeting the needs of the various organizations that utilize our indexes. The Dow Jones Wilshire Advisory Board formalizes this practice and we expect the members to be a vital part of the development of the global Dow Jones Wilshire Index family going forward.'

Board members will meet regularly to discuss issues facing the institutional investment community and provide counsel from the perspective of the constituencies they represent. They will provide insight on such topics as global market segmentation, methodology construction and effective index weighting systems. The Board will not participate in stock selection for the indexes, however, as the component selection process follows a defined, rules-based methodology.

Background note: The development of the global family of indexes, the remainder of which will be available in the second quarter of 2006, 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. By extending the Dow Jones Wilshire methodology used in the US internationally, the global indexes will provide unprecedented breadth, consistent global coverage, and objective and transparent rules. 

Float-adjusted capitalization-weighted versions of the Dow Jones Wilshire 5000, Dow Jones Wilshire 4500, and Dow Jones Wilshire US RESI and REIT indexes were launched on 1 May 2004. The large-, small- and micro-cap indexes, as well as growth and value indexes, were launched on 14 March 2005. The top 10 industries, as defined by the Industry Classification Benchmark system, were first published in August 2005, followed by the lower ICB hierarchy levels in 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 is calculated and distributed by Dow Jones Indexes pursuant to an agreement between Dow Jones & Company and Wilshire Associates Incorporated.


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