Dimensional 2040 Target Dt Rtr Inc Instl
DRIHX
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USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- Santa Monica CA 90401 Santa Monica CA United States of America 90401
- IPO Date
- Nov 4, 2015
- CIK
- 0000355437
- Website
- dimensional.com
- Similar Companies
- Business
- Dimensional 2040 Target Date Retirement Income Fund Institutional Class (DRIHX) is an open-ended mutual fund managed by Dimensional Fund Advisors LP that seeks total return consistent with its current asset allocation, targeting investors planning retirement around 2040. The fund operates as a fund-of-funds, primarily investing in a diversified mix of underlying Dimensional portfolios including DFA U.S. Core Equity 1 Portfolio Institutional Class (approximately 23%), DFA U.S. Large Company Portfolio (23%), DFA LTIP Portfolio Institutional Class (21%), DFA Large Cap International Portfolio Institutional Class (8%), and DFA Short-Term Extended Quality Portfolio Institutional Class (8%); this allocation provides exposure to U.S. stocks (46%), U.S. bonds (24%), non-U.S. stocks (18%), cash (9%), and non-U.S. bonds (4%), with a focus on large-blend equity styles and medium credit quality/ extensive interest-rate sensitivity for bonds. It serves institutional and retirement-focused investors in the target-date 2040 category, with total net assets of approximately $210 million, a net expense ratio of 0.19%, and daily pricing available primarily in the United States. Launched on November 2, 2015, the fund is managed by a team led by David Plecha, Joseph Kolerich, Jed Fogdall, Allen Pu, Mary Phillips, and Ashish Bhagwanjee, employing systematic strategies grounded in academic research. Dimensional Fund Advisors LP, the fund's adviser, was founded in 1981 and is headquartered in Austin, Texas, with global operations across offices in the U.S., Canada, U.K., Germany, Netherlands, Australia, Singapore, and Japan. In recent developments, Dimensional announced strategy enhancements for its targeted value funds in August 2025 to emphasize higher profitability and lower relative price securities within small and mid cap value segments, along with the exclusion of REITs from certain small cap strategies starting summer 2025 and an increase in maximum average duration for the Global Short-Term Investment Grade Fixed Income Fund in August 2025. These changes reflect ongoing refinements to portfolio construction across Dimensional's offerings, including potential impacts on funds like DRIHX through underlying holdings, without specific alterations to this fund's core target-date glide path. The firm continues to manage over $700 billion in assets, prioritizing factor-based investing in equity and fixed income for retirement solutions.