Certificate of Chief Compliance Officer
In regard to the lnterfund Lending program, I certify that each Portfolio and the Adviser have established procedures reasonably designed to achieve compliance with the terms and conditions of the exemptive order dated April 2, 2014, pursuant to certain sections of the Investment Company Act of 1940. These procedures, which have been previously approved by the Board of Directors/Trustees of the
Portfolios, include the following objectives:
(a) that the lnterfund Loan Rate will be higher than the Repo Rate, and, if applicable, the one day yield on any money market fund in which the lending Portfolio could otherwise invest, but
lower than the Bank Loan Rate;
(b) compliance with the collateral requirements as set forth in the application for exemptive relief filed on September 5, 2013, and amended on February 18, 2014;
(c) compliance with the percentage limitations on interfund borrowing and lending;
(d) allocation of interfund borrowing and lending demand in an equitable manner and in accordance with procedures established by the Board; and
(e) that the lnterfund Loan Rate does not exceed the interest rate on any third-party borrowings of a borrowing Portfolio at the time of the lnterfund Loan.
By: /s/ Randy C. Olson
Title: Chief Compliance Officer
Date: January 14, 2021
Report of Independent Registered Public Accounting Firm
To the Board of Directors of DFA Investment Dimensions Group Inc. and Shareholders of the Funds listed in Appendix A, (hereafter collectively referred to as the “Funds”)
In planning and performing our audits of the financial statements of the Funds as of and for the year or periods ended October 31, 2020, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds’ internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds’ internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Funds' internal control over financial reporting.
The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company’s assets that could have a material effect on the financial statements.
Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.
Our consideration of the Funds’ internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds’ internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be material weaknesses as defined above as of October 31, 2020.
This report is intended solely for the information and use of the Board of Directors of DFA Investment Dimensions Group Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.
/s/PricewaterhouseCoopers LLP
Philadelphia, Pennsylvania December 18, 2020
Appendix A
|
Enhanced U.S. Large Company Portfolio |
Tax-Managed DFA International Value Portfolio |
|
U.S. Large Cap Equity Portfolio |
T.A. World ex U.S. Core Equity Portfolio |
|
U.S. Large Cap Value Portfolio |
World ex U.S. Targeted Value Portfolio |
|
U.S. Targeted Value Portfolio |
DFA One-Year Fixed Income Portfolio |
|
U.S. Small Cap Value Portfolio |
DFA Two-Year Global Fixed Income Portfolio |
|
U.S. Core Equity 1 Portfolio |
DFA Selectively Hedged Global Fixed Income Portfolio |
|
U.S. Core Equity 2 Portfolio |
DFA Five-Year Global Fixed Income Portfolio |
|
U.S. Vector Equity Portfolio |
DFA World ex U.S. Government Fixed Income Portfolio |
|
U.S. Small Cap Portfolio |
DFA Short-Term Government Portfolio |
|
U.S. Micro Cap Portfolio |
DFA Intermediate Government Fixed Income Portfolio |
|
U.S. High Relative Profitability Portfolio |
DFA Short-Term Extended Quality Portfolio |
|
DFA Real Estate Securities Portfolio |
DFA Intermediate-Term Extended Quality Portfolio |
|
Large Cap International Portfolio |
DFA Targeted Credit Portfolio |
|
International Core Equity Portfolio |
DFA Global Core Plus Fixed Income Portfolio |
|
International Small Company Portfolio |
DFA Investment Grade Portfolio |
|
Global Small Company Portfolio |
DFA Diversified Fixed Income Portfolio |
|
Japanese Small Company Portfolio |
DFA LTIP Portfolio |
|
Asia Pacific Small Company Portfolio |
DFA Inflation-Protected Securities Portfolio |
|
United Kingdom Small Company Portfolio |
DFA Short-Duration Real Return Portfolio |
|
Continental Small Company Portfolio |
DFA Municipal Real Return Portfolio |
|
DFA International Real Estate Securities Portfolio |
DFA California Municipal Real Return Portfolio |
|
DFA Global Real Estate Securities Portfolio |
DFA Municipal Bond Portfolio |
|
DFA International Small Cap Value Portfolio |
DFA Short-Term Municipal Bond Portfolio |
|
International Vector Equity Portfolio |
DFA Intermediate-Term Municipal Bond Portfolio |
|
International High Relative Profitability Portfolio |
DFA California Short-Term Municipal Bond Portfolio |
|
World ex U.S. Value Portfolio |
DFA California Intermediate-Term Municipal Bond Portfolio |
|
World ex U.S. Core Equity Portfolio |
DFA NY Municipal Bond Portfolio |
|
World Core Equity Portfolio |
DFA MN Municipal Bond Portfolio |
|
Selectively Hedged Global Equity Portfolio |
DFA Oregon Municipal Bond Portfolio |
|
Emerging Markets Portfolio |
DFA Selective State Municipal Bond Portfolio** |
|
Emerging Markets Small Cap Portfolio |
VA U.S. Targeted Value Portfolio |
|
Emerging Markets Targeted Value Portfolio |
VA U.S. Large Value Portfolio |
|
Emerging Markets Value Portfolio |
VA International Value Portfolio |
|
Emerging Markets Core Equity Portfolio |
VA International Small Portfolio |
|
DFA Commodity Strategy Portfolio |
VA Short-Term Fixed Portfolio |
|
Dimensional 2010 Target Date Retirement Income Fund |
VA Global Bond Portfolio |
|
Dimensional 2015 Target Date Retirement Income Fund |
VIT Inflation-Protected Securities Portfolio |
|
Dimensional 2020 Target Date Retirement Income Fund |
DFA VA Global Moderate Allocation Portfolio |
|
Dimensional 2025 Target Date Retirement Income Fund |
VA Equity Allocation Portfolio |
|
Dimensional 2030 Target Date Retirement Income Fund |
U.S. Large Cap Growth Portfolio |
|
Dimensional 2035 Target Date Retirement Income Fund |
U.S. Small Cap Growth Portfolio |
|
Dimensional 2040 Target Date Retirement Income Fund |
International Large Cap Growth Portfolio |
|
Dimensional 2045 Target Date Retirement Income Fund |
International Small Cap Growth Portfolio |
|
Dimensional 2050 Target Date Retirement Income Fund |
U.S. Social Core Equity 2 Portfolio |
|
Dimensional 2055 Target Date Retirement Income Fund |
U.S. Sustainability Core 1 Portfolio |
|
Dimensional 2060 Target Date Retirement Income Fund |
U.S. Sustainability Targeted Value Portfolio*** |
|
Dimensional 2065 Target Date Retirement Income Fund* |
International Sustainability Core 1 Portfolio |
|
Dimensional Retirement Income Fund |
International Social Core Equity Portfolio |
|
Tax-Managed U.S. Marketwide Value Portfolio |
Emerging Markets Sustainability Core 1 Portfolio |
|
Tax-Managed U.S. Equity Portfolio |
Global Social Core Equity Portfolio**** |
|
Tax-Managed U.S. Targeted Value Portfolio Tax-Managed U.S. Small Cap Portfolio T.A. U.S. Core Equity 2 Portfolio |
Emerging Markets Social Core Equity Portfolio DFA Global Sustainability Fixed Income Portfolio DFA Social Fixed Income Portfolio |
* January 2, 2020 (commencement of operations) through October 31, 2020
** September 30, 2020 (commencement of operations) through October 31, 2020
*** July 7, 2020 (commencement of operations) through October 31, 2020
**** November 19, 2019 (commencement of operations) through October 31, 2020