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This article represents a mid-year report of stock picks mentioned in the January Barron’s article in which Rupal Bhansali candidly discussed her opinions, including her stock picks. Her opinions were current as of the date of the original 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 article is not guaranteed as to its accuracy or completeness.

One or more of the stocks mentioned were held, as of the date of the original communication and this communication, and may currently be held in Ariel International Fund and/or Ariel Global Fund. Any holdings mentioned do not constitute all holdings in a Fund. Portfolio holdings are subject to change. The performance of any single portfolio holding is no indication of the performance of other portfolio holdings of Ariel International Fund or Ariel Global Fund or of the performance of the Funds themselves. See current holdings information for Ariel International Fund by clicking here. See current holdings information for Ariel Global Fund by clicking here.

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 Ariel International Fund and Ariel Global Fund 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. Past performance does not guarantee future results. Any extraordinary performance shown for the recent short-term periods may not be sustainable and is not representative of the performance over longer periods.