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Tell us who you are Tell us who you are Institution Financial Advisor Individual Investment Solutions About Us About Us Our Company Our People Media Centre Investment Stewardship Log In -- Dimensional Investing is about implementing the great ideas in finance for our clients. Scroll Dimensional Global Firms * at a Glance As of December 31, 2019 38 Years since founding $791B In firmwide assets under management, CAD (in billions) 1,400+ Employees in 13 global offices One Investment philosophy An Update on the Measures We’re Taking Dave Butler and Gerard O’Reilly on the continued measures we’re taking to manage your investments effectively and protect our employees and our community. Learn more Dimensional Invests in Key Leadership Positions Global asset management firm taps top talent to lead strategic initiatives. Learn more David Booth Essay Featured in Worth Worth shared an essay by Dimensional Founder and Executive Chairman David Booth on how investors can have a rewarding experience by changing the way they think about investing. Learn more Dimensional Hires New COO Dimensional Fund Advisors LP has named Lisa Dallmer its new Chief Operating Officer. Learn more Dimensional Origins (04:12) For more than 35 years, Dimensional global firms* have been putting financial science to work for investors by translating compelling research into real-world investment solutions. 01 An enduring belief in the Power of Markets Capital Markets Have Rewarded Long-Term Investors Growth of $1 CAD, Jan. 1985–Dec. 2019 In Canadian dollars. World Equities is the MSCI World Index (gross dividends). Short-Term World Government Bonds is the FTSE World Government Bond Index 1–5 Years (hedged to CAD). Treasury Bills is the FTSE Canada 30-Day Treasury Bill Index. Canadian Inflation is measured as changes in the Canadian Consumer Price Index. MSCI data © MSCI 2020, all rights reserved. FTSE fixed income indices © 2020 by FTSE Fixed Income LLC. All rights reserved. Treasury Bills data provided by PC-Bond, a business unit of FTSE Global Debt Capital Markets Inc. All rights reserved. Inflation data is provided by the Bank of Canada. Indices are not available for direct investment. Their performance does not reflect the expenses associated with the management of an actual portfolio. There is no guarantee investment strategies will be successful. Past performance is no guarantee of future results. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise noted, any indicated total rates of return reflect the historical annual compounded total returns, including changes in share or unit value and reinvestment of all dividends or other distributions, and do not take into account sales, redemption, distribution, or optional charges or income taxes payable by any security holder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. At Dimensional, our investment approach is based on a belief in markets. Rather than attempting to predict the future or outguess others, we draw information about expected returns from the market itself—leveraging the collective knowledge of its millions of buyers and sellers as they set security prices. Trusting markets to do what they do best—drive information into prices—frees us to spend time where we believe we have an advantage, namely in how we interpret the research, how we design and manage portfolios, and how we service our clients. We take a less subjective, more systematic approach to investing—an approach we can implement consistently and investors can understand and stick with, even in challenging market environments. Learn More Embrace Market Pricing The market is an effective information-processing machine. Each day, the world equity markets process billions of dollars in trades between buyers and sellers—and the real-time information they bring helps set prices. In CAD. Source: Dimensional, using data from Bloomberg LP. Includes primary and secondary exchange trading volume globally for equities. ETFs and funds are excluded. Daily averages were computed by calculating the trading volume of each stock daily as the closing price multiplied by shares traded that day. All such trading volume is summed up and divided by 252 as an approximate number of annual trading days. David Booth Founder and Executive Chairman “The number of managers that can successfully pick stocks are fewer than you’d expect by chance. So, why even play that game? You don’t need to.” David Booth Founder and Executive Chairman 02 Applying insights from Financial Science Breakthroughs in Modern Finance 1966 Efficient Market Hypothesis Efficient Market Hypothesis Eugene Fama Nobel laureate, 2013 Professor, University of Chicago Eugene Fama’s efficient market hypothesis marks a pivotal moment for modern finance. The essence of the argument can be described by the simple statement that security prices reflect all available information. 1973 Intertemporal CAPM Intertemporal CAPM Robert Merton Nobel laureate, 1997 Professor, MIT The ICAPM set up a theoretical framework for how multiple sources of risk could arise. It expanded on the one-period CAPM model where the only priced risk was market beta. 1981 Small Cap Investing Small Cap Investing Dimensional Fund Advisors David Booth, Founder and Executive Chairman Dimensional pioneers small cap investing with the launch of its first strategy, which offers investors diversified, efficient access to small company stocks. 1981 Dimensional Fund Advisors LP Founded 1983 Term Structure Term Structure Eugene Fama Nobel laureate, 2013 Professor, University of Chicago Research shows implied forward interest rates provide information on expected term premiums in fixed income. -- 1992 Value Breakthrough Value Breakthrough Eugene Fama Nobel laureate, 2013 Professor, University of Chicago Kenneth French Professor, Dartmouth College Eugene Fama and Kenneth French develop the three-factor asset pricing model, which identifies market, size, and price (value) factors as the principal drivers of equity returns. 2012 Profitability Profitability Eugene Fama Nobel laureate, 2013 Professor, University of Chicago Kenneth French Professor, Dartmouth College Robert Novy-Marx Professor, University of Rochester A body of academic research led to identifying profitability as a dimension of higher expected returns that can be pursued across equity markets. Today Dimensional’s Research and Investment teams draw insight from academia, but what sets us apart is how we interpret, test, and apply that research to practical investment solutions for our clients. Tomorrow ... Dimensional was built around a set of ideas bigger than the firm itself. With a confidence in markets, deep connections to the academic community, and a focus on implementation, we go where the science leads, and continue to pursue new insights, both large and small, that can benefit our clients. “Dimensional” refers to the Dimensional separate but affiliated entities generally, rather than to one particular entity. These entities are Dimensional Fund Advisors LP, Dimensional Fund Advisors Ltd., DFA Australia Limited, Dimensional Fund Advisors Canada ULC, Dimensional Fund Advisors Pte. Ltd., Dimensional Ireland Limited, Dimensional Japan Ltd., and Dimensional Hong Kong Limited. Dimensional Hong Kong Limited is licensed by the Securities and Futures Commission to conduct Type 1 (dealing in securities) regulated activities only and does not provide asset management services. Eugene Fama and Kenneth French are members of the Board of Directors of the general partner of, and provide consulting services to, Dimensional Fund Advisors LP. Robert Merton and Robert Novy-Marx provide consulting services to Dimensional Fund Advisors LP. Dimensional’s investment approach is grounded in economic theory and ...