September 14, 2018
John Rogers and Charlie Bobrinskoy reflect on 35 years of patient investing, lessons of the financial crisis, the state of the economy, and more.
Investing in small- and mid-cap stocks is more risky and volatile than investing in large-cap stocks. The intrinsic value of the stocks in which Ariel Fund invests may never be recognized by the broader market. Ariel Fund is often concentrated in fewer sectors than its benchmark, and it may suffer if these sectors underperform the overall stock market.
Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes the reinvestment of dividends and capital gains. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Click here for the expense ratio and standardized performance data current to the most recent quarter- and month-end periods for Ariel Fund.
The article references stocks which may be, or may have been, held in Ariel Fund. Portfolio holdings are subject to change. The performance of any single portfolio holding is no indication of the performance of the other holdings of the Funds or of the Funds themselves. Click here for the current schedule of holdings for Ariel Fund.
The Russell 2500™ Value Index measures the performance of the small to mid-cap value segment of the U.S. equity universe (Russell 2500 companies with lower price-to-book ratios and lower forecasted growth values). The Russell 2500™ Index measures the performance of the small to mid-cap segment of the U.S. equity universe (a subset of the Russell 3000® Index, it includes approximately 2,500 of the smallest securities). The S&P 500® Index is the most widely accepted barometer of large cap U.S. equities. It includes 500 leading companies.
An economic moat is a perceived competitive advantage that acts as a barrier to entry for other companies in the same industry. This perceived advantage cannot protect investors from the volatility associated with stocks, incorrect assumptions or estimations, declining fundamentals or external forces.
Past performance does not guarantee future results. Lipper, Inc. is a nationally recognized organization that reports performance and calculates rankings for mutual funds based on total returns. Each fund is ranked within a universe of funds with similar investment objectives. As quoted in the article, Ariel Fund’s (Investor Class) top rank in its category – no. 1 Mid-Cap Core fund (out of 212) since market’s 2009 bottom is for the period of 3/9/2009 through 6/30/2018. Ariel Fund ranked 83 out of 185, 18 out of 138, and 1 out of 99 respectively, among Mid Cap Value funds in the Lipper universe, for the one-, five- and ten-year periods ending 6/30/2019. Lipper classifies Ariel Fund as a Mid Cap Value Fund.
Investors should consider carefully the investment objectives, risks, and charges and expenses before investing. For a current summary prospectus or full prospectus which contains this and other information about the funds offered by Ariel Investment Trust, call us at 800-292-7435 or click here. Please read the summary prospectus or full prospectus carefully before investing. Distributed by Ariel Distributors, LLC, a wholly-owned subsidiary of Ariel Investments, LLC. Ariel Distributors, LLC is a member of the Securities Investor Protection Corporation.