MSGE - Ariel Investments Ariel Appreciation Fund Q1 2024 Commentary
2024-07-04 05:50:00 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 Appreciation Fund gained +4.06% in the quarter, underperforming both the Russell Midcap Value and Russell Midcap indices, which returned +8.23% and +8.60%, respectively.
- Shares of global leader in electrical protection and connection solutions, nVent Electric jumped following strong quarterly earnings results, highlighted by healthy organic revenue growth, margin expansion and robust free cash flow generation.
- We initiated a new position in manufacturer and developer of laboratory equipment and biological testing, Bio-Rad Laboratories.
| Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes the reinvestment of dividends and capital gains, and represents returns of the Investor Class shares. 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. Performance data current to the most recent month-end for Ariel Appreciation Fund may be obtained by visiting our website, Ariel Investments . For the period ended March 31, 2024, the average annual returns of Ariel Appreciation Fund (investor class) for the 1-, 5-, and 10-year periods were +13.16%, +7.98%, and +6.84%, respectively. |