INTC - Ariel International Fund And Ariel Global Fund Q1 2024 Letter
2024-07-04 10:10:00 ET
Summary
- Ariel Investments, LLC is a global value-based asset management firm founded four decades ago in 1983. Ariel serves individual and institutional investors through five no-load mutual funds and eleven separate account strategies.
- Ariel International Fund returned +5.55%, shy of the MSCI EAFE Index’s +5.78% rise. Meanwhile, Ariel Global Fund advanced +7.35%, which was 85 basis points under the MSCI ACWI Index’s +8.20% in the first quarter.
- The overall AI narrative is one of inevitability with many anticipating a productivity tipping point. While broad optimism continues to prevail, there is a cautious undertone.
- The AI and AI-enabled companies in our portfolioshave benefitted from booming growth but have not kept pace with valuations; accordingly, we believe they have room to run.
| Performance (%) as of March 31, 2024 |
| Annualized |
| Name |
| QTR |
| 1-Year |
| 3-Year |
| 5-Year |
| 10-Year |
| Since Inception |
| Ariel International Fund |
| 12/30/2011 |
| AINTX Investor Class |
| 5.55 |
| 10.17 |
| 2.35 |
| 3.85 |
| 2.97 |
| 4.92 |
| AINIX Institutional Class |
| 5.60 |
| 10.39 |
| 2.58 |
| 4.10 |
| 3.22 |
| 5.17 |
| MSCI EAFE Net Index |
| 5.78 |
| 15.32 |
| 4.78 |
| 7.32 |
| 4.80 |
| 7.10 |
| MSCI ACWI ex-US Net Index |
| 4.69 |
| 13.26 |
| 1.93 |
| 5.96 |
| 4.25 |
| 6.05 |
| Additional Indexes |
| MSCI EAFE Value Net Index |
| 4.48 |
| 17.32 |
| 6.59 |
| 6.39 |
| 3.49 |
| 6.09 |
| MSCI ACWI ex-US Value Net Index |
| 3.40 |
| 15.34 |
| 4.58 |
| 5.35 |
| 3.20 |
| 5.18 |
| Ariel Global Fund |
| 12/30/2011 |
| AGLOX Investor Class |
| 7.35 |
| 15.79 |
| 7.11 |
| 7.81 |
| 6.48 |
| 8.07 |
| AGLYX Institutional Class |
| 7.38 |
| 16.01 |
| 7.36 |
| 8.07 |
| 6.74 |
| 8.34 |
| MSCI ACWI Net Index |
| 8.20 |
| 23.22 |
| 6.95 |
| 10.91 |
| 8.66 |
| 10.26 |
| Additional Indexes |
| MSCI ACWI Value Net Index |
| 6.85 |
| 18.01 |
| 6.66 |
| 7.63 |
| 5.98 |
| 8.02 |