In this reprint, Rupal Bhansali, portfolio manager of Ariel Global Fund and of Ariel International Fund, candidly discusses her opinions on the market, certain sectors, and specific stocks that may have been, and may still be, held in Ariel Global Fund and/or Ariel International Fund. These opinions were current as of the date of the article but are subject to change. The information provided in the article does not provide information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. The information contained in the broadcast is not guaranteed as to its accuracy or completeness.

Any holdings mentioned do not constitute all holdings in the Funds. Portfolio holdings are subject to change. See current holdings information for Ariel Global Fund by clicking here. See current holdings information for Ariel International Fund by clicking here.

Past performance does not guarantee future results. Investments in foreign securities may underperform and may be more volatile than comparable U.S. stocks because of the risks involving foreign economies and markets, foreign political systems, foreign regulatory standards, foreign currencies and taxes. The use of currency derivatives and exchange-traded funds (ETFs) may increase investment losses and expenses and create more volatility. Investments in emerging markets present additional risks, such as difficulties in selling on a timely basis and at an acceptable price. The intrinsic value of the stocks in which the Funds invest may never be recognized by the broader market. The Funds are often concentrated in fewer sectors than their benchmarks, and their performance may suffer if these sectors underperform the overall stock market. Investing in equity stocks is risky and subject to the volatility of the markets.