Our History
DCI’s approach is based on ideas with a long history.
- The benefits of broad-scale diversification
- Using the insights of option theory and information in markets (particularly equity markets) in the valuation of credit
- The quantification of credit risk at both the individual asset level and the portfolio level
- The implications of the range of credit risks and the dynamic nature of default probabilities on the management of credit risk
- The importance of separating out the effects of credit from interest rates
Click on the years below to view events.
McQuown first index fund
(1969-1971)
Merton Black & Scholes option pricing theory
(1970-1974)
Vasicek term structure of interest rates models
(1977)
McQuown co-founds Dimensional Fund Advisors
(1981)
Kealhofer, McQuown & Vasicek first commercial implementation of merton (KMV)
(1989)
KMV launches first credit portfolio model
(1994)
KMV sold to Moody's
(2002)
Next-generation default probability, credit spread valuation and portfolio analytics provide foundation for DCI
(2003-2004)
Kealhofer, McQuown and Solo start DCI
(2004)
DCI High Grade Credit UCITS is launched
(2005)
DCI Market Neutral Credit Managed Account is launched
(2007)
DCI Enhanced High Grade Credit UCITS is launched
(2008)
DCI Enhanced High Grade Floating Rate Credit is launched
(2011)
DCI Global High Grade Credit UCITS is launched
(2011)
DCI Market Neutral Credit Fund is launched
(2012)
DCI Market Neutral Credit UCITS is launched
(2012)
DCI Short Credit is launched
(2012)