MSGE - Ariel Investments Ariel Fund Q1 2024 Commentary
2024-07-04 05:45:00 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 Fund advanced +6.41% in the quarter, ahead of the Russell 2500 Value Index’s +6.07% gain but slightly trailing the +6.92% return posted by the Russell 2500 Index.
- Madison Square shares advanced in the quarter following a robust earnings beat, driven by an increase in the number of concerts held at MSGE’s venues, strong demand for the Christmas Spectacular, and higher per-event revenues.
- We did not initiate any new positions in the quarter, however, we successfully sold out of tool manufacturer, Snap-on Inc. to take profits as shares reached our estimate of private market value.
| 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 Fund may be obtained by visiting our website, Ariel Investments . For the period ended March 31, 2024, the average annual returns of Ariel Fund (investor class) for the 1-, 5-, and 10-year periods were +15.55%, +8.76%, and +8.31%, respectively. |