June 3, 1996
WILSHIRE TARGET FUNDS, INC.
(Investment Class Shares)
Supplement to Prospectus
Dated June 3, 1996
The following information supplements or replaces the
information contained in the sections of the Fund's Prospectus
entitled "Fee Table" (at page 3), "Management of the Fund" (at
page 7) and "Shareholder Services Plan" (at page 13):
The meeting of the stockholders of the Fund called for the
purposes of, among other matters, approving the new Investment
Advisory Agreement ("Agreement") and the new Shareholder Services
Plan ("Plan") has been temporarily adjourned to permit additional
time for the solicitation of the votes by proxy of those
stockholders who had not voted regarding the approval of the
Agreement and the Plan with respect to the Small Company Growth
Portfolio. Accordingly, until such approval is obtained, the
existing Investment Advisory Agreement ("Old Agreement") will
remain in effect and the Plan will not be implemented. Under the
Old Agreement, each Portfolio will continue to pay a monthly
advisory fee at the annual rate of .10 of 1% of the value of the
Portfolio's average daily net assets. The Old Agreement does not
contain the "fifteen month expense limitation" included in the new
Investment Advisory Agreement.
June 3, 1996
WILSHIRE TARGET FUNDS, INC.
(Investment Class Shares)
Supplement to Statement of Additional Information
Dated June 3, 1996
The following information supplements or replaces the
information contained in the sections of the Fund's Statement of
Additional Information entitled "Investment Advisory and
Administration Agreements" (at page 11) and "Shareholder Services
Plan" (at page 16):
As stated in the June 3, 1996 Supplement to the Prospectus,
the meeting of the stockholders of the Fund called for the
purposes of, among other matters, approving the new Investment
Advisory Agreement ("Agreement") and the new Shareholder Services
Plan ("Plan") has been temporarily adjourned to permit additional
time for the solicitation of the votes by proxy of those
stockholders who had not voted regarding the approval of the
Agreement and the Plan with respect to the Small Company Growth
Portfolio. Accordingly, until such approval is obtained, the Plan
will not be implemented and the existing Investment Advisory
Agreement with Wilshire Associates dated August 12, 1992, as
revised on September 17, 1992 ("Old Agreement") will remain in
effect.
Under the Old Agreement, each Portfolio will continue to pay
a monthly advisory fee at the annual rate of .10 of 1% of the
value of the Portfolio's average daily net assets. The Old
Agreement, which renews annually upon the approval of the
directors of the Fund, will continue to May 14, 1997 unless
terminated or amended prior to that date according to its terms,
or until the new Investment Advisory Agreement is approved by the
stockholders as described above. The Old Agreement does not
contain the "fifteen month expense limitation" included in the new
Investment Advisory Agreement.
Under the Old Agreement, if in any fiscal year the aggregate
annual expenses of a Portfolio (including fees pursuant to the Old
Agreement and the administration agreement with First Data, but
excluding interest, taxes, brokerage and, with the prior written
consent of the necessary state securities commission,
extraordinary expenses) exceed the expense limitations of any
state having jurisdiction over the Fund, the Fund may deduct from
the fees to be paid to Wilshire Associates and First Data, to the
extent required by state law, such excess expense in proportion to
their advisory and administration fees otherwise payable for the
fiscal year by the Portfolio. Wilshire Associates' obligation
with respect to each Portfolio under the expense limitation
provision of the Old Agreement between it and the Fund is limited
to the amount of its investment advisory fees otherwise payable by
such Portfolio under that agreement.
June 3, 1996
WILSHIRE TARGET FUNDS, INC.
(Institutional Class Shares)
Supplement to Prospectus
Dated June 3, 1996
The following information supplements or replaces the
information contained in the sections of the Fund's Prospectus
entitled "Fee Table" (at page 3) and "Management of the Fund" (at
page 7):
The meeting of the stockholders of the Fund called for the
purposes of, among other matters, approving the new Investment
Advisory Agreement ("Agreement") has been temporarily adjourned to
permit additional time for the solicitation of the votes by proxy
of those stockholders who had not voted regarding the approval of
the Agreement with respect to the Small Company Growth Portfolio.
Accordingly, until such approval is obtained, the existing
Investment Advisory Agreement ("Old Agreement") will remain in
effect. Under the Old Agreement, each Portfolio will continue to
pay a monthly advisory fee at the annual rate of .10 of 1% of the
value of the Portfolio's average daily net assets. The Old
Agreement does not contain the "fifteen month expense limitation"
included in the new Investment Advisory Agreement.
June 3, 1996
WILSHIRE TARGET FUNDS, INC.
(Institutional Class Shares)
Supplement to Statement of Additional Information
Dated June 3, 1996
The following information supplements or replaces the
information contained in the sections of the Fund's Statement of
Additional Information entitled "Investment Advisory and
Administration Agreements" (at page 11):
As stated in the June 3, 1996 Supplement to the Prospectus,
the meeting of the stockholders of the Fund called for the
purposes of, among other matters, approving the new Investment
Advisory Agreement ("Agreement") has been temporarily adjourned to
permit additional time for the solicitation of the votes by proxy
of those stockholders who had not voted regarding the approval of
the Agreement with respect to the Small Company Growth Portfolio.
Accordingly, until such approval is obtained, the existing
Investment Advisory Agreement with Wilshire Associates dated
August 12, 1992, as revised on September 17, 1992 ("Old
Agreement") will remain in effect.
Under the Old Agreement, each Portfolio will continue to pay
a monthly advisory fee at the annual rate of .10 of 1% of the
value of the Portfolio's average daily net assets. The Old
Agreement, which renews annually upon the approval of the
directors of the Fund, will continue to May 14, 1997 unless
terminated or amended prior to that date according to its terms,
or until the new Investment Advisory Agreement is approved by the
stockholders as described above. The Old Agreement does not
contain the "fifteen month expense limitation" included in the new
Investment Advisory Agreement.
Under the Old Agreement, if in any fiscal year the aggregate
annual expenses of a Portfolio (including fees pursuant to the Old
Agreement and the administration agreement with First Data, but
excluding interest, taxes, brokerage and, with the prior written
consent of the necessary state securities commission,
extraordinary expenses) exceed the expense limitations of any
state having jurisdiction over the Fund, the Fund may deduct from
the fees to be paid to Wilshire Associates and First Data, to the
extent required by state law, such excess expense in proportion to
their advisory and administration fees otherwise payable for the
fiscal year by the Portfolio. Wilshire Associates' obligation
with respect to each Portfolio under the expense limitation
provision of the Old Agreement between it and the Fund is limited
to the amount of its investment advisory fees otherwise payable by
such Portfolio under that agreement.
