Ariel Investments, an investment management company, released its “Ariel Small Cap Value Fund” third-quarter 2025 investor letter. US equities continued their rally in the third quarter. The macro environment was supportive in the quarter despite concerns around tariffs, inflation, and labor market softness. In the quarter, Ariel Small Cap Value Tax-Exempt Composite appreciated +12.80% gross of fees (+12.65% net of fees) against this backdrop, compared to +12.60% and +12.39% returns of the Russell 2000 Value Index and the Russell 2000 Index, respectively. In addition, you can check the...
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