APA - Ariel Investments Focus Fund Q2 2024 Commentary
2024-08-02 11:30:00 ET
Summary
- Ariel Focus Fund declined -3.37% in the quarter, trailing the -2.17% return posted by the Russell 1000 Value Index and the +4.28% gain of the S&P 500 Index.
- We successfully exited alternative asset manager, KKR & Co. as shares began trading above our estimate of private market value.
- In the quarter, we initiated a new position in boutique asset manager, Affiliated Managers Group.
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 Focus Fund may be obtained by visiting our website, Ariel Investments . For the period ended June 30, 2024 the average annual returns of Ariel Focus Fund (investor class) for the 1, 5, and 10 year periods were +8.54%, +6.97%, and +5.56%, respectively. |