Ariel Investments, an investment management company, released its "Ariel International Fund" fourth-quarter 2025 investor letter. A copy of the letter can be downloaded here. Ariel International Fund delivered solid performance in 2025, gaining 31.48% over the year, slightly outperforming the MSCI EAFE Index but lagging the MSCI ACWI ex-US benchmark, while rising 2.25% in the fourth quarter. The fund benefited from a constructive global backdrop marked by easing inflation, resilient earnings, and improving conditions across Europe and Japan, though it trailed benchmarks during the quarter....
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