Value Strategy
Ariel Focus Fund
Ariel Focus Fund

Historical Portfolio Characteristics

As of December 31
Market Capitalization ($ weighted avg. nlog — millions) 2007 2008 2009 2010 2011 2012 2013  
Ariel Focus Fund 38380 24400 41460 43890 34190 30240 39160  
Russell 1000 Value 48790 32940 30110 33530 35170 38220 51600  
S&P 500 56600 38450 43770 48460 49810 55340 67320  
   
Price/Earnings (Forward)                
Ariel Focus Fund 13.4 10.4 13.8 12.1 10.0 10.5 14.1  
Russell 1000 Value 13.2 10.3 13.9 12.8 11.2 12.0 14.5  
S&P 500 15.2 11.1 15.1 13.8 12.3 13.2 16.0  
   
Beta (Correlated to the Russell 3000 Index)                
Ariel Focus Fund 0.94 0.96 0.81 0.92 0.96 1.03 0.98  
Russell 1000 Value 0.83 0.74 1.05 1.00 0.99 1.06 1.07  
S&P 500 0.90 0.81 0.94 0.97 0.93 0.96 0.98  
   
Number of Issues                
Ariel Focus Fund 23 23 23 23 28 29 29  
Russell 1000 Value 618 654 679 668 656 696 662  
S&P 500 500 500 500 500 500 500 500  
   
Portfolio Turnover                
Ariel Focus Fund 31.1 48.6 54.5 52.1 37.8 28.0 49.2  

The Russell 1000® Value Index measures the performance of the large-cap value segment of the U.S. equity universe. It includes those Russell 1000 companies with lower price-to-book ratios and lower expected growth values. The S&P 500® Index is the most widely accepted barometer of the  market. It includes 500 blue chip, large cap stocks, which together represent about 75% of the total U.S. equities market.

Past performance does not guarantee future results. © Ariel Investments, LLC. The mutual funds offered by Ariel Investment Trust are distributed by Ariel Distributors, LLC. Use of this website is subject to our Terms & Conditions of use. Each of the investment products, mutual funds or services referred to in this site may be offered only to persons in the United States. This web site should not be considered a solicitation or offering of any investment products, funds or services to investors outside the United States. Original illustrations © Omar Rayyan 2007.