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In broadcast replay, Charlie Bobrinskoy, portfolio manager for Ariel Focus Fund, candidly discusses his opinions on the market, including the effects of inflation, interest rates, certain sectors and specific stocks. These opinions are current as of the date of this interview but are subject to change. The information provided in this interview 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. This material should not be considered an offer for any of the securities referenced. The information contained in the interview is not guaranteed as to its accuracy or completeness.

Ariel Focus Fund is a non-diversified fund and therefore may be subject to greater volatility than a more diversified investment. The Fund is often concentrated in fewer sectors than its benchmarks, and its performance may suffer if these sectors underperform the overall stock market. The intrinsic value of the stocks in which the Fund invests may never be recognized by the broader market. Past performance does not guarantee future results. The performance of any single portfolio holding is no indication of the performance of other portfolio holdings of Ariel Focus Fund. See current holdings information for Ariel Focus Fund by clicking here. Investing in equity stocks is risky and subject to the volatility of the markets. Investing in small- and mid-cap stocks is riskier and more volatile than investing in large-cap stocks.