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Ariel Discovery Fund
Ariel Discovery Fund

Historical Portfolio Characteristics

As of December 31
Market Capitalization ($ weighted avg. nlog — millions)         2011 2012 2013  
Ariel Discovery Fund         340 380 520  
Russell 2000 Value         840 910 1220  
S&P 500         49810 55340 67320  
     
Price/Earnings (Forward)                
Ariel Discovery Fund         14.9 15.3 20.8  
Russell 2000 Value         13.1 13.7 17.1  
S&P 500         12.3 13.2 16.0  
     
Beta (Correlated to the Russell 3000 Index)                
Ariel Discovery Fund         1.16 1.20 1.23  
Russell 2000 Value         1.22 1.28 1.30  
S&P 500         0.93 0.96 0.98  
     
Number of Issues                
Ariel Discovery Fund         34 35 37  
Russell 2000 Value         1354 1422 1394  
S&P 500         500 500 500  
     
Portfolio Turnover                
Ariel Discovery Fund         NA 22.0 25.8  

The Russell 2000® Value Index measures the performance of the small-cap value segment of the U.S. equity universe. It includes those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values. Russell® is a trademark of Russell Investment Group, which is the source and owner of the Russell Indexes’ trademarks, service marks and copyrights. 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.