|Jeanne Sinquefield, Supervisor of the Firm's Trading Operation, Also to Retire|
After 24 years, Rex Sinquefield, co-founder and co-chair of Dimensional Fund Advisors and chairman of its investment policy committee, will retire at the end of 2005 to return to his farm in Missouri to pursue a variety of interests including the creation of an economic think tank. He will remain a shareholder and board member and will continue to serve in an advisory capacity.
Jeanne Sinquefield, who has supervised the trading operation since 1983, will also retire at year-end.
"Rex and Jeanne are good friends and dear colleagues whose talents will remain an important resource for years to come," noted David Booth, Dimensional Fund Advisors' co-founder, co-chair and chief investment officer. "While their daily presence will be missed, their legacy is the talented and extremely knowledgeable team of leaders they have cultivated who will continue to guide our operations."
"Rex is one of the country's most influential economic theorists," Booth noted. He is credited with inventing index investing and pioneering many of the first index funds at the American National Bank of Chicago in the early 1970s, which formed part of the inspiration for Dimensional's original investment strategy. He and Roger R. Ibbotson, professor of finance at Yale School of Management, co-authored the seminal article that led to the creation of a database of historical stock prices which today is used industry-wide. Sinquefield won two prestigious Graham and Dodd Awards that recognize excellence in financial writing, one in 1979 and one in 1996.
Jeanne Sinquefield, executive vice president, was instrumental in designing Dimensional's trading function. Over the years, she has managed portfolios, designed products and developed much of the firm's trading methodology and software.
"Our trading is one of the critical added values engineered to enhance our strategies' performance," noted Booth. "Jeanne's keen intellect put into place the backbone of our trading operations -- a key element that differentiates our funds from standard index funds."
David Booth and Rex Sinquefield founded Dimensional in 1981 to apply academic research to the practical world of investing. Today, the firm has more than $70 billion under management for more than 300 clients, as well as for high-net-worth investors through professional financial advisors. The firm maintains close ties with the University of Chicago Business School, where both Rex and Jeanne Sinquefield obtained their graduate degrees.
The firm and its family of mutual funds have board members and consultants that include the University of Chicago's Eugene Fama, Nobel Laureates Myron Scholes and Robert Merton, as well as Dartmouth College's Kenneth French and Yale University's Roger Ibbotson. In addition to its Santa Monica headquarters, the firm has offices in Sydney, Vancouver, Chicago and London.