Ariel Investments Focus Fund’s Q1 2025 Investor Letter

Ariel Investments, an investment management company, released its “Ariel Focus Fund” first-quarter investor letter.  At the end of the first quarter of 2025, most major U.S. indices recorded losses as investors sought safety. Initial optimism for another strong year of U.S. performance, fueled by economic momentum and the new administration’s pro-business policies, faded as concerns over tariffs and uncertainty in policy direction. In the environment, the fund returned -3.88%, lagging the Russell 1000 Value Index’s +2.14% gain, and ahead of the S&P 500 Index’s -4.27% return. In...