Performance data quoted represents past performance. Past performance does not guarantee future results. All performance assumes the reinvestment of dividends and capital gains and represents returns of the Investor Class shares. The investment return and principal value of an investment willAriel Investments, LLC is a global value-based asset management firm founded four decades ago in 1983. Ariel is headquartered in Chicago, with offices in New York City, San Francisco and Sydney Australia. Ariel serves individual and institutional investors through five no-load mutual funds and eleven separate account strategies. Our four core values are: Active Patience®, Independent Thinking, Focused Expertise and Bold Teamwork. We model these behaviors in everything we do.