Dimensional Fund Advisors converted two more of its equity mutual funds into exchange-traded vehicles, further boosting the quant giant’s heft in the $6.8 trillion arena.
The Austin, Texas-based firm’s Tax Managed DFA International Value Portfolio and its T.A. World ex U.S. Core Equity Portfolio are now the Dimensional International Value ETF (DFIV) and Dimensional World ex U.S. Core Equity 2 ETF (DFAX), respectively, according to a press statement Monday.
The move adds two more funds and about $8.1 billion in assets to Dimensional’s ETF lineup. The firm founded by David Booth now boasts nine ETFs worth around $40 billion, according to data compiled by Bloomberg.
In June, Dimensional became only the second U.S. issuer to pull off a conversion, transforming $29 billion worth of mutual funds into ETFs in an industry record. The asset manager -- which controls $660 billion -- has aggressively targeted the ETF universe since launching its first products last November, touting the structure’s tax advantages and client demand.
Citigroup analysts said in a June forecast that Dimensional’s conversions would be one of several factors behind a $21 trillion shift from mutual funds to ETFs over the next decade. Bloomberg Intelligence expects $1 trillion worth of such switches to take place over the next 10 years.
JPMorgan Asset Management has announced plans to switch four funds with $10 billion in assets into ETFs next year.
The campaign spans broadcast TV and streaming, as the brokerage faces slowing client net flows and an $8.1 billion advisor team that left to launch an RIA this month.
A Michigan Democrat's proposal to lower the retirement age adds a new variable to claiming strategies for clients in manual trades.
The US accounted for nearly half of all new millionaires worldwide last year, but insurance specialists warn wealth growth is outpacing planning.
Merrill and Wells Fargo Advisors also made additions to expand their presence in Florida and Michigan.
Beemo's agents will draft client proposals and surface custodial data from Schwab for Choreo's 120-plus advisors across 21 states
As AI makes financial information more accessible than ever, Lana Hock explains why human judgment, trust, and empathy remain the qualities clients value most in a financial advisor
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
