Ariel Appreciation Fund traded up +1.14% in the quarter, lagging the Russell Midcap Value Index's +3.68% gain and the +1.29% return posted by the Russell Midcap Index.
U.S. equities experienced a volatile, risk off start with major indices declining and briefly entering correction territory amid a sharp March selloff.
We exited specialty cutting tool insert maker, Kennametal, Inc. to pursue other opportunities.
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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
