SANTA MONICA, Calif., Nov. 29, 2016 /PRNewswire/ -- Wilshire Associates (Wilshire®) and EVA Capital Management, LP (EVA Capital) today announced the launch of a new index family that seeks to combine the power of the Wilshire 5000 Total Market Index℠ (Wilshire 5000®), widely accepted as the definitive benchmark for the broad U.S. stock market, with Economic Value Added (EVA) methodology, a time-tested and well-respected process designed to identify a company's true economic profitability. The resulting two indexes, the EVA Wilshire 5000 Index℠ (EVAW5000) and the EVA Wilshire US Large-Cap Index℠ (EVAWLC), measure the performance of strategies based on EVA weighting the Wilshire 5000 and Wilshire US Large-Cap indexes.
EVA weightings are calculated by EVA Capital, using data from evaDimensions, a global leader in the application of EVA-based solutions. EVA Capital has an exclusive license to construct indexes based on data from evaDimensions and has aligned with Wilshire to create the new indexes based on the EVA of the constituents of both Wilshire index counterparts.
"Wilshire Analytics is proud to align with EVA innovator, EVA Capital, to bring these indexes to market. Wilshire's well-respected broad market index heritage combined with EVA Capital's access to a robust methodology that helps identify positive economic value for investors is in the true spirit of Wilshire's deep commitment to deliver actionable insight to the investor," commented Robert J. Waid, Managing Director at Wilshire Associates.
"We are proud to align with best in breed index provider, Wilshire, to create these unique indexes that measure the performance of a strategy that aims to invest in companies that create value and avoid companies that do not," added Nick Lobaccaro, founder of EVA Capital.
For more information about the EVA Wilshire 5000 and EVA Wilshire US Large-Cap indexes, please visit http://wilshire.com/indexinfo/EVA-Wilshire-5000-Family.html.
About Wilshire Associates
Wilshire Associates, a leading global financial services firm, provides consulting services, analytics solutions and customized investment solutions to plan sponsors, investment managers and financial intermediaries. Its business units include, Wilshire Analytics, Wilshire Consulting, Wilshire Funds Management and Wilshire Private Markets.
The firm was founded in 1972, providing revolutionary technology and acting as an early innovator in the application of investment analytics and research to investment managers in 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 Wilshire 5000 Total Market Index and became an early innovator in creating integrated asset/liability analysis/simulation models as well as practical models in risk budgeting through beta and active risk analysis. Wilshire has grown to a firm of approximately 300 employees serving the needs of investors around the world.
Based in Santa Monica, California, Wilshire provides services to clients in more than 20 countries representing more than 500 organizations with assets totaling approximately US $7 trillion.* With ten offices worldwide, Wilshire Associates and its affiliates are dedicated to providing clients with the highest quality counsel, products and services. Wilshire® and Wilshire 5000® are registered service marks of Wilshire Associates Incorporated. Wilshire 5000 Total Market Index℠ is a service mark of Wilshire Associates Incorporated.
Please visit www.wilshire.com for more information.
Follow us on Twitter: @WilshireAssoc
*Client assets are as represented by Pensions and Investments (P&I), detailed in P&I's "Largest Retirement Funds" and P&I's "Largest Money Managers (U.S. institutional tax-exempt assets)" as of 9/30/15 and 12/31/15, and published 2/8/16 and 5/30/16, respectively).
About EVA Capital
EVA Capital Management, LP is an SEC registered firm that manages investments and creates investible indexes. EVA Capital employs a proprietary systematic approach to stock selection and index creation. Critical to EVA Capital's investment model is a proprietary accounting engine, supplied by evaDimensions, that converts GAAP accounting data into EVA data and removes accounting distortions. EVA Capital has an exclusive license to use the data of evaDimensions to create investment products.
EVA Dimensions was founded by Bennett Stewart, principal creator of the EVA Framework and leading consultant to Fortune 500 companies. EVA Dimensions is the global leader in applying EVA, or economic value added, a measure of true economic profit. EVA is a more robust way to measure a company's true profitability.
SOURCE Wilshire Associates