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Bailey McCann, Opalesque New York:

Santa Monica, California-based Wilshire associates has partnered with two financial firms on new benchmarks that touch on key areas of investor interest. The first - OWLshares ESG-Weighted US Large Cap Index, is created and owned by New Millennium Macro and calculated by Wilshire to provide a large-cap benchmark for ESG investing. The second product - the BRI Long/Short Equity Index, is created by BRI Partners and calculated by Wilshire to offer investors access to the first investible index that delivers the beta of hedge fund strategies.

For the OWLshares ESG Large Cap Index, the product uses proprietary OWL ESGTM scores to weight the performance of a group of approximately 500 U.S. large market capitalization companies, diversified by sector. The methodology over-weights companies with higher OWL ESG scores and underweights those with lower scores. The resulting constituent mix is the first in what is conceived to be a series of ESG-related investment benchmark products.

The product works by taking in data updated each month from a 400 sources to determine how well a company is managing for environmental, social and governance related factors. A score is subsequently calculated from these data. The score differs from other ESG products which screen out companies in industries like tobacco or fossil fuels.

"What we've seen through our research is that companies with higher ESG scores typically outperform over the 3-year......................

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