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Ariel Investments Home > Products > Mutual Funds > Ariel Discovery Fund

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Mutual Funds

VALUE STRATEGIES

Ariel Fund

Ariel Appreciation Fund

FOCUSED STRATEGIES

Ariel Focus Fund

GLOBAL STRATEGIES

Ariel International Fund

Ariel Global Fund

Separate Accounts

VALUE STRATEGIES

Ariel Small Cap Value

Ariel Small Cap Value Concentrated

Ariel Small/Mid Cap Value

Ariel Mid Cap Value

FOCUSED STRATEGIES

Ariel Focused Value

GLOBAL STRATEGIES

Ariel International (DM)

Ariel International (DM/EM)

Ariel Global

Ariel Global Concentrated

IMPORTANT INFORMATION FOR SHAREHOLDERS OF ARIEL DISCOVERY FUND
Reorganization of Ariel Discovery Fund with and into Ariel Fund

On April 12, 2019, the Board of Trustees (the Board) of Ariel Investment Trust (the Trust) approved an Agreement and Plan of Reorganization (the Agreement) providing for the reorganization of Ariel Discovery Fund with and into Ariel Fund, each a separate series of the Trust. After April 16, 2019, no purchases of Ariel Discovery Fund will be processed, except pursuant to existing Automatic Investment Programs and automatic dividend reinvestment arrangements.

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Deep Value Strategy

Ariel Discovery Fund

Overview

Philosophy

Process

Performance

Characteristics

Holdings

Fund Materials

Distribution History

Institutional Class

Reinvest Date	Reinvest Price Per Share	Long Term Capital Gain Per Share	Short Term Capital Gain Per Share	Income Dividend Per Share	Total Distribution Per Share
Nov. 16, 2012	$9.47	$0.000000	$0.000000	$0.000000	$0.000000
Dec. 27, 2012	$10.25	$0.000000	$0.000000	$0.000000	$0.000000
Nov. 14, 2013	$13.04	$0.140700	$0.035040	$0.000000	$0.175740
Dec. 30, 2013	$13.72	$0.000000	$0.000000	$0.000000	$0.000000
Nov. 20, 2014	$11.78	$0.235080	$0.423650	$0.000000	$0.658730
Dec. 30, 2014	$12.07	$0.000000	$0.000000	$0.000000	$0.000000
Nov. 19, 2015	$8.66	$0.579800	$0.004450	$0.000000	$0.584250
Dec. 30, 2015	$8.37	$0.000000	$0.000000	$0.000000	$0.000000
Nov. 17, 2016	$9.45	$0.000000	$0.000000	$0.000000	$0.000000
Dec. 29, 2016	$10.24	$0.000000	$0.000000	$0.000000	$0.000000
Nov. 16, 2017	$10.92	$0.000000	$0.000000	$0.000000	$0.000000
Dec. 28, 2017	$11.17	$0.000000	$0.000000	$0.000000	$0.000000
Nov. 15, 2018	$9.83	$0.000000	$0.000000	$0.000000	$0.000000
Dec. 27, 2018	$8.19	$0.000000	$0.000000	$0.000000	$0.000000