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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 14
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SIGNATURE JULIE A. TEDESCO
TITLE ASSISTANT SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> WILSHIRE LARGE COMPANY GROWTH INVESTMENT
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<ACCUMULATED-GAINS-PRIOR> 2,714,606
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 156,239
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 646,064
<AVERAGE-NET-ASSETS> 38,919,986
<PER-SHARE-NAV-BEGIN> 19.35
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 7.30
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> (2.73)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.92
<EXPENSE-RATIO> .81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> WILSHIRE LARGE COMPANY GROWTH INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 91,446,230
<INVESTMENTS-AT-VALUE> 114,554,870
<RECEIVABLES> 435,277
<ASSETS-OTHER> 921,066
<OTHER-ITEMS-ASSETS> 25,699
<TOTAL-ASSETS> 115,936,912
<PAYABLE-FOR-SECURITIES> 412,248
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 163,445
<TOTAL-LIABILITIES> 575,693
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 90,482,675
<SHARES-COMMON-STOCK> 1,751,290
<SHARES-COMMON-PRIOR> 401,090
<ACCUMULATED-NII-CURRENT> 115,989
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,653,915
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 23,108,640
<NET-ASSETS> 115,361,219
<DIVIDEND-INCOME> 634,082
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 501,141
<NET-INVESTMENT-INCOME> 132,941
<REALIZED-GAINS-CURRENT> 2,999,006
<APPREC-INCREASE-CURRENT> 17,528,339
<NET-CHANGE-FROM-OPS> 20,660,286
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29,526
<DISTRIBUTIONS-OF-GAINS> 1,724,527
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 27,361,859
<NUMBER-OF-SHARES-REDEEMED> 225,881
<SHARES-REINVESTED> 1,754,053
<NET-CHANGE-IN-ASSETS> 88,563,888
<ACCUMULATED-NII-PRIOR> 31,210
<ACCUMULATED-GAINS-PRIOR> 2,714,606
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 156,239
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 676,064
<AVERAGE-NET-ASSETS> 23,586,434
<PER-SHARE-NAV-BEGIN> 19.35
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> 7.28
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> (2.73)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.91
<EXPENSE-RATIO> .78
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> WILSHIRE LARGE COMPANY VALUE INVESTMENT
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 51,738,577
<INVESTMENTS-AT-VALUE> 62,108,131
<RECEIVABLES> 1,052,959
<ASSETS-OTHER> 1,503,244
<OTHER-ITEMS-ASSETS> 7,040
<TOTAL-ASSETS> 64,671,374
<PAYABLE-FOR-SECURITIES> 1,246,762
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 101,416
<TOTAL-LIABILITIES> 1,348,178
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49,920,336
<SHARES-COMMON-STOCK> 682,707
<SHARES-COMMON-PRIOR> 1,009,161
<ACCUMULATED-NII-CURRENT> 762,826
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,270,480
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,369,554
<NET-ASSETS> 63,323,196
<DIVIDEND-INCOME> 1,407,526
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 373,257
<NET-INVESTMENT-INCOME> 1,034,269
<REALIZED-GAINS-CURRENT> 3,378,742
<APPREC-INCREASE-CURRENT> 7,579,626
<NET-CHANGE-FROM-OPS> 11,992,637
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 450,971
<DISTRIBUTIONS-OF-GAINS> 1,745,588
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,591,762
<NUMBER-OF-SHARES-REDEEMED> 15,615,868
<SHARES-REINVESTED> 2,047,357
<NET-CHANGE-IN-ASSETS> 27,938,506
<ACCUMULATED-NII-PRIOR> 779,655
<ACCUMULATED-GAINS-PRIOR> 2,901,041
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 102,886
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 486,007
<AVERAGE-NET-ASSETS> 16,271,976
<PER-SHARE-NAV-BEGIN> 17.80
<PER-SHARE-NII> .87
<PER-SHARE-GAIN-APPREC> 4.73
<PER-SHARE-DIVIDEND> (.60)
<PER-SHARE-DISTRIBUTIONS> (2.31)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.49
<EXPENSE-RATIO> .91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> WILSHIRE LARGE COMPANY VALUE INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 51,738,577
<INVESTMENTS-AT-VALUE> 62,108,131
<RECEIVABLES> 1,052,959
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<OTHER-ITEMS-ASSETS> 7,040
<TOTAL-ASSETS> 64,671,374
<PAYABLE-FOR-SECURITIES> 1,246,762
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<OTHER-ITEMS-LIABILITIES> 101,416
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<PAID-IN-CAPITAL-COMMON> 49,920,336
<SHARES-COMMON-STOCK> 2,410,117
<SHARES-COMMON-PRIOR> 979,106
<ACCUMULATED-NII-CURRENT> 762,826
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,270,480
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,369,554
<NET-ASSETS> 63,323,196
<DIVIDEND-INCOME> 1,407,526
<INTEREST-INCOME> 0
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<EXPENSES-NET> 373,257
<NET-INVESTMENT-INCOME> 1,034,269
<REALIZED-GAINS-CURRENT> 3,378,742
<APPREC-INCREASE-CURRENT> 7,579,626
<NET-CHANGE-FROM-OPS> 11,992,637
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 603,729
<DISTRIBUTIONS-OF-GAINS> 2,263,715
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<NUMBER-OF-SHARES-SOLD> 25,463,128
<NUMBER-OF-SHARES-REDEEMED> 343,952
<SHARES-REINVESTED> 2,867,445
<NET-CHANGE-IN-ASSETS> 27,938,506
<ACCUMULATED-NII-PRIOR> 779,655
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<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 486,007
<AVERAGE-NET-ASSETS> 24,882,148
<PER-SHARE-NAV-BEGIN> 17.80
<PER-SHARE-NII> .59
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<PER-SHARE-DIVIDEND> (.62)
<PER-SHARE-DISTRIBUTIONS> (2.31)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.47
<EXPENSE-RATIO> .91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> WILSHIRE SMALL COMPANY GROWTH INVESTMENT
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 15,467,741
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<ASSETS-OTHER> 76,730
<OTHER-ITEMS-ASSETS> 2,681
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<OTHER-ITEMS-LIABILITIES> 33,989
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<PAID-IN-CAPITAL-COMMON> 15,407,513
<SHARES-COMMON-STOCK> 871,275
<SHARES-COMMON-PRIOR> 972,333
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 109,425
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,552,942
<NET-ASSETS> 19,069,880
<DIVIDEND-INCOME> 30,362
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 227,675
<NET-INVESTMENT-INCOME> (197,313)
<REALIZED-GAINS-CURRENT> 933,077
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<NUMBER-OF-SHARES-SOLD> 3,370,546
<NUMBER-OF-SHARES-REDEEMED> 8,655,680
<SHARES-REINVESTED> 3,289,679
<NET-CHANGE-IN-ASSETS> (2,556,839)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,485,066
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 46,788
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 271,646
<AVERAGE-NET-ASSETS> 14,797,632
<PER-SHARE-NAV-BEGIN> 18.56
<PER-SHARE-NII> (.18)
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<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (4.16)
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<PER-SHARE-NAV-END> 16.61
<EXPENSE-RATIO> 1.22
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> WILSHIRE SMALL COMPANY GROWTH INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 15,467,741
<INVESTMENTS-AT-VALUE> 19,020,683
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<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 109,425
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<ACCUM-APPREC-OR-DEPREC> 3,552,942
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<INTEREST-INCOME> 0
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<EXPENSES-NET> 227,675
<NET-INVESTMENT-INCOME> (197,313)
<REALIZED-GAINS-CURRENT> 933,077
<APPREC-INCREASE-CURRENT> 1,789,172
<NET-CHANGE-FROM-OPS> 2,524,936
<EQUALIZATION> 0
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<NUMBER-OF-SHARES-SOLD> 421,000
<NUMBER-OF-SHARES-REDEEMED> 964
<SHARES-REINVESTED> 802,362
<NET-CHANGE-IN-ASSETS> (2,556,839)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 3,485,066
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 271,646
<AVERAGE-NET-ASSETS> 3,917,525
<PER-SHARE-NAV-BEGIN> 18.56
<PER-SHARE-NII> (.15)
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<PER-SHARE-DISTRIBUTIONS> (4.16)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.61
<EXPENSE-RATIO> 1.22
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> WILSHIRE SMALL COMPANY VALUE INVESTMENT
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 38,687,725
<INVESTMENTS-AT-VALUE> 46,554,379
<RECEIVABLES> 136,187
<ASSETS-OTHER> 114,420
<OTHER-ITEMS-ASSETS> 6,567
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<PAYABLE-FOR-SECURITIES> 0
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<OTHER-ITEMS-LIABILITIES> 101,077
<TOTAL-LIABILITIES> 101,077
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35,405,028
<SHARES-COMMON-STOCK> 1,176,841
<SHARES-COMMON-PRIOR> 1,716,735
<ACCUMULATED-NII-CURRENT> 705,999
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<ACCUMULATED-NET-GAINS> 2,732,795
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,866,654
<NET-ASSETS> 46,710,476
<DIVIDEND-INCOME> 1,292,264
<INTEREST-INCOME> 0
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<EXPENSES-NET> 322,363
<NET-INVESTMENT-INCOME> 969,901
<REALIZED-GAINS-CURRENT> 4,279,058
<APPREC-INCREASE-CURRENT> 6,540,323
<NET-CHANGE-FROM-OPS> 11,789,282
<EQUALIZATION> 0
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<NUMBER-OF-SHARES-SOLD> 8,355,863
<NUMBER-OF-SHARES-REDEEMED> 20,524,026
<SHARES-REINVESTED> 2,785,299
<NET-CHANGE-IN-ASSETS> 12,046,822
<ACCUMULATED-NII-PRIOR> 751,862
<ACCUMULATED-GAINS-PRIOR> 1,922,414
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<GROSS-ADVISORY-FEES> 93,963
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 432,241
<AVERAGE-NET-ASSETS> 17,772,321
<PER-SHARE-NAV-BEGIN> 15.92
<PER-SHARE-NII> .77
<PER-SHARE-GAIN-APPREC> 3.90
<PER-SHARE-DIVIDEND> (.75)
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<PER-SHARE-NAV-END> 17.25
<EXPENSE-RATIO> .86
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> WILSHIRE SMALL COMPANY VALUE INSTITUTIONAL
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 38,687,725
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<PAID-IN-CAPITAL-COMMON> 35,405,028
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<SHARES-COMMON-PRIOR> 460,695
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<EXPENSES-NET> 322,363
<NET-INVESTMENT-INCOME> 969,901
<REALIZED-GAINS-CURRENT> 4,279,058
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<NUMBER-OF-SHARES-SOLD> 20,495,849
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<ACCUMULATED-NII-PRIOR> 751,862
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<GROSS-ADVISORY-FEES> 93,963
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 432,241
<AVERAGE-NET-ASSETS> 19,813,112
<PER-SHARE-NAV-BEGIN> 15.92
<PER-SHARE-NII> .83
<PER-SHARE-GAIN-APPREC> 3.84
<PER-SHARE-DIVIDEND> (.77)
<PER-SHARE-DISTRIBUTIONS> (2.59)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.23
<EXPENSE-RATIO> .86
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
