Dimensional Fund Advisors LP, Austin, Texas, brought together its workforce of 1,500 people from 13 offices around the world, albeit virtually, to celebrate the firm's 40th anniversary.
The firm was founded April 15, 1981 by David Booth, now executive chairman, in the spare bedroom of his Brooklyn, N.Y., apartment.
Mr. Booth said that 40 years ago, academic evidence "showed there was a better way to approach investing, but no one had put it into practice yet. So we did ... we started Dimensional Fund Advisors because we believed there was a way to invest that was better than stock picking and improved upon index funds," in an article on the firm's website.
Among the activities during the anniversary celebration, held the week of April 12, were daily online sessions for employees including the ringing of the opening bell at the New York Stock Exchange, how the firm responds to clients' needs with investment solutions in which many investment teams are involved, reminiscences from the firm's founders about 40 years of money management innovation, and the impact of the firm's employees on its culture.
The theme of the anniversary commemoration was "innovation" with the firm's new actively managed ETFs as the latest example, said David "Dave" Paul Butler, director and co-CEO, noting that about $1 billion has flowed into the strategies since their 2020 launch.
Another part of the virtual celebration was Dimensional-focused pub-style trivia sessions held every night during the celebration week, Mr. Butler said, stressing "we have some really competitive people."
Dimensional managed $637 billion as of March 31 in systematic, factor-based equity and fixed-income strategies.