Over the trailing one-year period, Ariel International (DM/EM) Composite increased +5.98% gross of fees (+5.43% net of fees), ...

Ariel International Composite declined -4.98% gross of fees (-5.12% net of fees) in the quarter, ahead of MSCI EAFE and MSCI EAFE Value Indices, which returned -8.11% and -7.12%.