Starting May 31, Wilshire Asset Management will take full responsibility the four target style mutual funds it manages. The Dreyfus-Wilshire Target Funds had been administered and distributed by the Dreyfus network.
Wilshire decided to take over the funds because executives were unhappy with the lack of promotion from Dreyfus. A Dreyfus spokeswoman said Dreyfus has similar funds and will, therefore, no longer act as distributor for the Target funds.
The four funds - large-cap value, large-cap growth, small-cap value and small-cap growth - will be renamed Wilshire Target Funds. The firm will distribute the funds through several networks including Schwab's.