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Mutual Funds
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Invests in high quality, undervalued small- and medium-sized companies
- > Ariel Appreciation Fund
Invests in high quality, undervalued medium-sized companies
- > Ariel Focus Fund
Invests in a concentrated number of high quality, undervalued medium- and large-sized companies
- > Ariel Discovery Fund
Invests in deeply undervalued small companies
- > Ariel International Equity Fund
Invests in undervalued, quality franchises in overseas markets
- > Ariel Global Equity Fund
Invests in undervalued, quality franchises in markets around the world
Separately Managed Accounts
Ariel Micro-Cap Value
Invests in deeply undervalued micro-cap companies- Ariel Small Cap Value
Invests in high quality, undervalued small companies
- Ariel Small/Mid Cap Value
Invests in high quality, undervalued small- and medium-sized companies
- Ariel Mid Cap Value
Invests in high quality, undervalued medium-sized companies
- Ariel Focused Value
Invests in a concentrated number of high quality, undervalued medium- and large-sized companies
- Ariel International Equity
Invests in undervalued, quality franchises in overseas markets
- Ariel Global Equity
Invests in undervalued, quality franchises in markets around the world
- > Ariel Fund
- Fund Reports
Investment Objectives
- To target superior absolute returns (capital appreciation)
- To target superior relative returns (vs. benchmark)
- To generate the above with lower risk (northwest quadrant performance)
- To own undervalued, quality franchises
* Because the Fund is new, the gross expense ratio is based on estimated expenses for the current fiscal year. Ariel Investments, LLC, the Adviser, is contractually obligated to waive fees or reimburse expenses in order to limit Ariel International Equity Fund’s total annual operating expenses to 1.40% of net assets for the Investor Class and 1.15% of net assets for Institutional Class through the end of the fiscal year ending September 30, 2015. No termination of this agreement by either the Board of Trustees or the Adviser may be effective until, at the earliest, October 1, 2015.
We employ a differentiated, repeatable four-part investment process that embeds risk management at every step.
Step 1: Screening
Reduce risk by eliminating businesses more likely to fail or to be marginalized. This purges about 60% of the benchmark’s stocks.
Step 2: Research
Assess for how success will be sustained. The lead analyst digs far and wide and interacts with management (onsite and offsite) to form an informed, differentiated proprietary view of the industry and the business.
Step 3: Validation
Conduct scenario analyses and stress tests and examine valuation risk. A three-person team (lead analyst, devil’s advocate and fresh analyst) debates and critiques the thesis, financial forecasts and assesses valuation scenarios such as base, best and worst case.
Step 4: Portfolio Construction
Weigh the risks and rewards of each investment idea and build a high conviction stock portfolio with superior risk/reward payoffs. Resulting portfolios include 40 to 150 stocks.
