Dimensional Converts $29 Billion of Mutual Funds Into ETFs

Dimensional Fund Advisors just became one of the biggest players in the $6.5 trillion exchange-traded fund arena.

In a milestone moment for the management industry, the $637 billion quant pioneer founded by David Booth has converted four equity mutual funds with $28.8 billion of assets into ETFs.

At a stroke, it puts Dimensional on the cusp of being one of the 10 biggest U.S. ETF issuers by assets and takes its lineup to seven funds.

Meanwhile the Austin, Texas-based firm has already filed for at least two more conversions. It is also looking at fixed-income products and hopes to launch a solution in that space by the end of the year, according to co-Chief Executive Officer Gerard O’Reilly.

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