Ariel Fund’s Q4 2023 Investor Letter

Ariel Investments, an investment management company, released its “Ariel Fund” fourth-quarter 2023 investor letter. Global markets in 2023 outperformed expectations, led by large-cap tech stocks known as the “magnificent seven.” Improving inflation data and dovish comments from the Fed drove a strong finish to the year. Ariel Fund rose +13.41% in the fourth quarter, in line with the +13.35% of the Russell 2500 Index, but short of the +13.76% of the Russell 2500 Value Index. Over the past...