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The information in this article is provided for educational purposes only and is not tax, legal, financial planning or investment advice. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities or advisory products. The information provided is general and is not information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. You should not regard this information as a substitute for the exercise of your own judgment.

Cryptocurrencies, non-fungible tokens (NFTs) and other digital assets involve a high degree of risk, are not endorsed or guaranteed by any government, are volatile, and are unsuitable for most investors. For more information on digital asset risk see FINRA, SEC, and CFPB public advisories.

Ariel has a dedicated environmental, social and governance (“ESG”) team embedded within our research team for certain Ariel strategies. We have integrated a proprietary ESG-risk rating in our analysis of companies, and it is one factor, but not a primary factor, our investment teams use in evaluating companies.