wilshire target funds, inc.
(Institutional Class Shares)
(the "Fund")
Supplement dated June 30, 1997
to Prospectus dated October 30, 1996, as revised March 31,
1997
Effective June 30, 1997, all references to P. O. Box
9770, Providence, Rhode Island 02940-9770 will be replaced
by the following:
Wilshire Target Funds, Inc.
P.O. Box 5170
Westborough, Massachusetts 01581-5120
wilshire target funds, inc.
(Institutional Class Shares)
(the "Fund")
Supplement dated June 30, 1997
to Statement of Additional Information dated October 30,
1996, as revised March 31, 1997
Effective June 30, 1997, all references to P. O. Box
9770, Providence, Rhode Island 02940-9770 will be replaced
by the following:
Wilshire Target Funds, Inc.
P.O. Box 5170
Westborough, Massachusetts 01581-5120
G:\SHARED\3RDPARTY\WILSHIRE\P&SAI\STICKERS\12B1SUPP\061197.doc
wilshire target funds, inc.
(Investment Class Shares)
(the "Fund")
Supplement dated June 30, 1997
to Prospectus dated October 30, 1996, as revised March
31, 1997
Effective June 30, 1997, all references to P. O.
Box 9770, Providence, Rhode Island 02940-9770 will be
replaced by the following:
Wilshire Target Funds, Inc.
P.O. Box 5170
Westborough, Massachusetts 01581-5120
The following is substituted for the caption
"Shareholder Services Plan" at page 12 of the
Prospectus and the paragraph immediately following
that caption:
service and distribution plan
The Directors of the Fund have adopted a
separate service and distribution plan (the "Service
and Distribution Plan") with respect to the Shares of
each Portfolio pursuant to Section 12(b) of the 1940
Act and Rule 12b-1 thereunder. Under the Service and
Distribution Plan, the Fund reimburses First Data
Distributors, Inc. ("FDDI"), distributor of the Fund,
at an annual rate of up to .25 of 1% of the value of
the average daily net assets attributable to the
Shares of each Portfolio for certain service and
distribution expenses borne, or paid to others, by
FDDI. Generally, the service fees covered under the
Service and Distribution Plan are fees paid to
securities dealers and other financial intermediaries
for personal services to holders of the Shares of a
Portfolio and/or for the maintenance of the accounts
of the holders of the Shares. The services provided
may include personal services relating to shareholder
accounts, such as answering shareholder inquiries
regarding the Fund and providing reports and other
information, and services related to the maintenance
of shareholder accounts. To the extent that such
service fees do not aggregate .25 of 1% of the value
of the average daily net assets attributable to the
Shares of a Portfolio, the Service and Distribution
Plan also permits reimbursement for distribution
expenses borne, or paid to others, by FDDI for the
purpose of financing or assisting in the financing of
any activity which is primarily intended to result in
the sale of the Shares of the Portfolio. The types of
distribution expenses covered include, but are not
limited to, the costs and expenses of direct marketing
activities (including related travel, meals and
lodging); the design, preparation, printing and
distribution of promotional materials, advertising and
offering materials, and shareholder materials; the
compensation of securities dealers and other financial
intermediaries for sales activities; and related
capital, overhead and interest expenses. Amounts
payable under the Service and Distribution Plan
relating to a Portfolio are charged to, and therefore
reduce, income allocated to the Shares of that
Portfolio.
All forward-looking references in the Prospectus
to "shareholder services plan fees" are hereby deemed
to refer to Service and Distribution Plan fees.
wilshire target funds, inc.
(Investment Class Shares)
(the "Fund")
Supplement dated June 30, 1997
to Statement of Additional Information dated October
30, 1996, as revised March 31, 1997
Effective June 30, 1997, all references to P. O.
Box 9770, Providence, Rhode Island 02940-9770 will be
replaced by the following:
Wilshire Target Funds, Inc.
P.O. Box 5170
Westborough, Massachusetts 01581-5120
The following is substituted for the caption
"Shareholder Services Plan" at page 17 of the
Statement of Additional Information and the first six
paragraphs set forth under that caption:
service and distribution plan
The following information supplements and should
be read in conjunction with the section in the Fund's
Prospectus (Investment Class shares) entitled "Service
and Distribution Plan."
The Fund has adopted a Service and Distribution
Plan (the "Service and Distribution Plan") with
respect to the Investment Class shares of each
Portfolio pursuant to Section 12(b) of the 1940 Act
and Rule 12b-1 thereunder. Under the Service and
Distribution Plan, the Fund reimburses First Data
Distributors, Inc. ("FDDI"), distributor of the Fund,
at an annual rate of up to .25 of 1% of the value of
the average daily net assets attributable to the
Shares of each Portfolio for certain service and
distribution expenses borne, or paid to others, by
FDDI. Generally, the service fees covered under the
Service and Distribution Plan are fees paid to
securities dealers and other financial intermediaries
for personal services to holders of the Shares of a
Portfolio and/or for the maintenance of the accounts
of the holders of the Shares. The services provided
may include personal services relating to shareholder
accounts, such as answering shareholder inquiries
regarding the Fund and providing reports and other
information, and services related to the maintenance
of shareholder accounts. To the extent that such
service fees do not aggregate .25 of 1% of the value
of the average daily net assets attributable to the
Shares of a Portfolio, the Service and Distribution
Plan also permits reimbursement for distribution
expenses borne, or paid to others, by FDDI for the
purpose of financing or assisting in the financing of
any activity which is primarily intended to result in
the sale of the Shares of the Portfolio. The types of
distribution expenses covered by the Service and
Distribution Plan include, but are not limited to, the
costs and expenses of direct marketing activities
(including related travel, meals and lodging); the
design, preparation, printing and distribution of
promotional materials, advertising and offering
materials, and shareholder materials; the compensation
of securities dealers and other financial
intermediaries for sales activities; and related
capital, overhead and interest expenses. Amounts
payable under the Service and Distribution Plan
relating to a Portfolio are charged to, and therefore
reduce, income allocated to the Shares of that
Portfolio.
The original Shareholder Services Plan (the
"Services Plan") of the Fund adopted pursuant to
Section 12(b) of the 1940 Act and Rule 12b-1
thereunder was approved (i) by votes of the majority
of both (a) the Directors of the Fund, and (b) those
Directors of the Fund who are not interested persons
of the Fund, and have no direct or indirect financial
interest in the operation of the Service and
Distribution Plan or any agreements related to it (the
"Independent Directors"), in each case cast in person
at a meeting called for the purpose of voting on the
Services Plan, and (ii) by vote of a majority of the
outstanding Investment Class shares. Subsequently, an
amendment to the Services Plan to include distribution
expenses, as well as service fees, as covered expenses
under the plan, and to rename the plan as the Service
and Distribution Plan, was approved on June 3, 1997 by
vote of the majority of both (a) the Directors of the
Fund, and (b) the Independent Directors of the Fund,
cast in person at a meeting called for the purpose of
voting on the Plan. The amendment did not increase
the maximum amount of payments permissible under the
Plan.
Under the Service and Distribution Plan, FDDI is
required to provide to the Directors of the Fund for
their review, at least quarterly, a written report of
the amounts so expended and the purposes for which
such expenditures were made.
The Service and Distribution Plan shall continue
in effect for a period of more than one year after
July 3, 1996 only so long as such continuance is
specifically approved at least annually by votes of
the majority (or whatever other percentage may, from
time to time, be required by Section 12(b) of the
Investment Company Act of 1940 or the rules and
regulations thereunder) of both (a) the Directors of
the Fund, and (b) the Independent Directors of the
Fund, cast in person at a meeting called for the
purpose of voting on the Service and Distribution
Plan. The Service and Distribution Plan may not be
amended in any material respect unless such amendment
is approved by votes of the majority (or whatever
other percentage may, from time to time, be required
by Section 12(b) of the Investment Company Act of 1940
or the rules and regulations thereunder) of both (a)
the Directors of the Fund, and (b) the Independent
Directors of the Fund, cast in person at a meeting
called for the purpose of voting on the Service and
Distribution Plan, and may not be amended to increase
materially the amount to be spent thereunder without
such approvals and approval by vote of at least a
majority of the outstanding Shares of the affected
Investment Class. The Plan may be terminated at any
time by vote of a majority of the Independent
Directors or by vote of a majority of the outstanding
Shares.
For the period from July 15, 1996 through August
31, 1996, each Portfolio incurred the following
amount, utilized for payments to securities broker-
dealers and other financial intermediaries for
shareholder servicing and other recordkeeping
services, pursuant to the Services Plan:
Large Company Growth Portfolio $6,277
Large Company Value Portfolio $5,984
Small Company Growth Portfolio $5,857
Small Company Value Portfolio $9,763
The last two paragraphs under the caption
"Shareholder Services Plan" at page 18 of the
Statement of Additional Information are unchanged.
All forward-looking references in the Statement of
Additional Information to "shareholder services plan
fees" are hereby deemed to refer to Service and
Distribution Plan fees.
