The Best Fund Family You've Never Heard of -- and Why It Doesn't Want Your Money

Dimensional Fund Advisors might be one of the best-kept secrets in the mutual fund industry.

DFA manages $36 billion, of which about $23 billion is for institutions, with some $13 billion through funds sold to individual investors through financial advisors. It has no retail offerings -- you can't buy into their funds the way you would at Vanguard, Fidelity or any other retail fund company.

A retail presence isn't all the firm lacks: DFA doesn't employ a single stock analyst. The firm keeps a coterie of some of the finest minds in economics as advisors or consultants -- but not so they can make bets on which way the economy's heading, rather to ensure the firm keeps current on relevant academic research. ...