DFA Cuts Management Fees on 77 Funds

"We evaluate expense ratios and management fees for every fund on an ongoing basis and look to make adjustments where appropriate," said Co-CEO Dave Butler in a statement, adding that DFA has cut management fees or expense caps earlier this year and in 2017 and 2015." 

"We expect to do better than benchmarks and peers, after fees, so we fight for every basis point," noted Gerard O'Reilly, Co-CEO and CIO.  

DFA is known for its factor-based approach to investing, which tilts toward value and smaller companies and predates many of the smart-beta strategies used by other fund companies.  

Its latest announcement of fee cuts follows mutual fund and ETF fee reductions from multiple asset managers including Vanguard, Fidelity, Schwab, BlackRock (for iShares) and JPMorgan, plus the elimination of stock and ETF commissions by the brokerage operations of many of those same firms.

According to Morningstar's latest fund flows report, DFA took in a net $2.43 billion over the 12 months ended Nov. 30, 2019, following a net outflow of $2.18 billion in November. The firm had total assets of $436 billion as of Nov. 30, according to Morningstar. DFA's website and Form ADV show assets of $569 billion.

— Check out DFA Taps Dallmer as COO on ThinkAdvisor.