K&L Gates Advises Dimensional Fund Advisors on Launch of First ETFs on ASX

Global law firm K&L Gates has advised DFA Australia Limited (Dimensional) on the launch of three exchange traded funds (ETFs) on the ASX: the Dimensional Australian Core Equity Trust (Managed Fund) (DACE), the Dimensional Global Core Equity Trust (Managed Fund) – Unhedged class (DGCE) and the Dimensional Global Core Equity Trust (Managed Fund) – AUD Hedged class (DFGH).

Dimensional is a wholly owned subsidiary of US-based Dimensional Fund Advisors LP. The Dimensional group manages more than AU$900 billion for investors globally, including more than AU$38 billion for clients in Australia and New Zealand. The three ETFs are the first Dimensional has launched in the Australian market and were available to trade on the ASX beginning 13 November 2023. 

The K&L Gates team that advised Dimensional was led by Sydney-based Asset Management and Investment Funds partners Lisa Lautier and Matthew Watts, supported by partners James Lonie and Stuart Broadfoot, lawyers Dhivya Kalyanakumar, Rebecca Mangos and Alexander Lalor and Melbourne-based partner Daniel Knight.

Adrian Poy, Lead Australian Counsel for Dimensional, said: “The dual-access ETF structure represents exciting new ground for our Australian business, and we needed to work thoroughly and efficiently to make sure we provided it in the best way possible for our clients. We are very thankful for the dedicated, attentive and consistent support that Lisa, Matt and the rest of the K&L Gates team provided to us throughout the project." 

Lautier and Watts stated: "It was a pleasure working with the Dimensional team both in the US and Australia. The ETF market in Australia has seen significant growth in recent times and the launch of these products is an important strategic initiative for their business."