Rex Sinquefield, a pioneer in the formation of index funds, will retire as co-chair of Dimensional Fund Advisors at year's end, after 24 years at the helm of the money management firm. Jeanne Sinquefield, who has supervised trading at the firm since 1983, also will step down. David Booth, DFA's co-founder, co-chair and CIO, will remain at the firm, which has $78 billion in assets under management. Mr. Sinquefield will stay on DFA's board and remain a major shareholder in the firm.
Mr. and Mrs. Sinquefield will return to their farm in Osage County, Missouri. Mr. Sinquefield also will lead an economic think tank based in St. Louis, which will be called the Show Me Institute. He will also remain on the boards of the St. Louis Symphony, the St. Louis Art Museum, Saint Louis University and the Missouri Botanical Gardens.
Starting out as a purely institutional money manager based in a town house, DFA now includes international and value-oriented equity strategies. Its distribution through advisers now accounts for more than half of the firm's business.