David Booth’s DFA Starts Clock on Landmark $26 Billion ETF Shift
- Quant giant to convert 4 equity mutual funds into ETFs in June
- Fees on ETFs will be 20% to 56% below existing mutual funds
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Quant giant Dimensional Fund Advisors has laid out the timeline for converting nearly $26 billion worth of mutual funds into exchange-traded funds, a watershed moment for Wall Street money management.
The Austin, Texas-based firm will turn four equity funds into ETFs “on or about” June 11, according to a Wednesday filing with the U.S. Securities and Exchange Commission. That puts the $601 billion manager founded by David Booth on course to be only the second issuer to undertake a conversion, with the first-ever switch expected later this month.