Ariel Investments Small/Mid Cap Value Fund’s Q3 2022 Investor Letter

Ariel Investments, an investment management company, released its “Ariel Small/Mid Cap Value Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund fell  -7.16% gross of fees, underperforming the Russell 2500 Value Index, which returned -4.50 %, and the Russell 2500 Index, which returned -2.82%. All the major indices closed at a loss in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.