Wilshire Associates has dropped a subadvisor on its Wilshire Large Cap Core 130/30 Fund (WLCTX and WLTTX). The firm revealed in an SEC filing that it terminated Thompson, Siegel & Walmsley LLC as a subadvisor to the fund for unspecified reasons.

Wilshire officials informed the fund's board of the decision on May 21 and the firing become effective on July 1. The fund shareholders did not need to vote on the change as the fund's investment advisory agreement allows Wilshire to hire and fire subadvisors without that approval.

The fund now has four subadvisors, including:

AXA Rosenberg Investment Management LLC;

Pyramis Global Advisors, LLC;

TWIN Capital Management, Inc.; and

UBS Global Asset Management Americas.

The filing did not provide size of the mandates that had been with TS&W or how the assets were redistributed amongst the subadvisors.

The Wilshire Funds Website shows TS&W with a 30 percent allocation of the fund's assets. However, that information dates to August of 2009.

Wilshire's tweaking of the firm's subadvisor line-up follows its May 21 decision to hire Cornerstone Capital Management to subadvise the Wilshire Large Company Growth Portfolio replacing Payden & Rygel, Quest Investment Management and Sawgrass Asset Management.

Those mandates switched hands on June 1.

Victory Capital Management Inc. and Los Angeles Capital Management and Research both retained their slots as subadvisors to the Large Company Growth Fund.  

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