When that pattern emerged, the company struggled with defining why and how it was happening without explicitly promising that it would continue. Booth’s modesty, many of D.F.A.’s mutual funds have actually outperformed their closest equivalent market indexes over time. Rowe Price have placed ads on some pages in an attempt to steer you away. is threatening enough, with about $208 billion in assets under management, that when you search for the company using Google, you will sometimes find that Vanguard and T. Part of the process involves coming, at their own expense, to the company’s two-day introductory session in Santa Monica.ĭespite these barriers to entry, D.F.A. Instead, you must buy them through financial advisers, and even those people must apply for the privilege. is also picky enough not to sell its funds directly to any individual investors outside of some 401(k) and 529 college savings plans. “I want to talk about why we think we are different and why we think we are better,” the head of research, Gerard O’Reilly, declared to one recent gathering.ĭ.F.A. Booth.īut it is smug enough to scatter stockbroker jokes throughout its presentations to advisers, disparaging Merrill Lynch in one casual aside and mildly mocking mere index funds. “We are not trying to outguess the market,” says its co-founder David G. It is humble enough to have started in 1981 without any misconceptions about its ability to pick small stocks, its original specialty, that would outperform the average of all such stocks. is privately held, mostly by its founders and employees, though Arnold Schwarzenegger has a small stake, too. The money manager and mutual fund company is obscure enough that you may never have heard of it. Dimensional Fund Advisors is probably the quirkiest company in all of financial services, drawing such passionate fans that people frequently refer to it as a religion (or, more dismissively, a cult).
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