What's Going on at Diamond Hill?
A personnel exodus spurs widespread change.
In an already tumultuous year, typically steady boutique Diamond Hill has experienced a flurry of personnel departures and made some organizational changes in response. Enough uncertainty remains, however, to drop its Parent Pillar rating to Above Average from High, leaving with our top rating just eight United States-domiciled firms (American Funds, Dimensional, Dodge & Cox, FMI, Jensen, PRIMECAP, T. Rowe Price, and Vanguard).
The low number of firms with High Parent ratings highlights the difficulty of attaining and maintaining this accolade. It also illustrates some growing pains as Diamond Hill has tried to build its institutional business. It’s still a boutique with roughly $22 billion in assets under management, but several changes, including bringing on an outsider CEO, preceded its more recent instability.
Linda Abu Mushrefova does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.