Ariel Global Fund
Name
As of 04/15/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
2.7%
1 yr return
3.0%
3 Yr Avg Return
2.5%
5 Yr Avg Return
5.4%
Net Assets
$61.1 M
Holdings in Top 10
43.1%
52 WEEK LOW AND HIGH
$16.1
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.36%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 24.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/15/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
AGLOX - Profile
Distributions
- YTD Total Return 2.7%
- 3 Yr Annualized Total Return 2.5%
- 5 Yr Annualized Total Return 5.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.73%
- Dividend Yield 5.6%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAriel Global Fund
-
Fund Family NameAriel Investments
-
Inception DateDec 30, 2011
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerRupal Bhansali
Fund Description
The Fund invests primarily in equity securities of both U.S. and foreign companies, including companies based in developed or emerging markets. It will invest in foreign companies directly by purchasing equity securities or indirectly through instruments such as American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”) that provide exposure to foreign companies. The Fund is permitted to invest in companies of any size, but typically will not invest in companies with market capitalizations below $3 billion. Under normal market conditions, the Fund will invest at least 40% of its assets in countries other than the U.S.
The Fund may use various derivative instruments, such as forward contracts, to gain or hedge exposure to certain types of securities or currencies. It may also use ETFs and other instruments to invest significant cash inflows in the market (i.e., reducing “cash drag”). The Fund may buy and sell currency on a spot basis (i.e., foreign currency trades that settle within two days) and enter into foreign currency forward contracts. Ariel uses these instruments primarily in an attempt
to reduce unintended tracking error versus the Fund’s primary benchmark, decrease the Fund’s exposure to changing security prices or foreign currency risk, or address other factors that affect security values.
The Fund’s strategy is rooted in the contrarian investment philosophy of Ariel Investments, LLC, which depends on four interrelated tenets: Active Patience®, Independent Thinking, Focused Expertise, and Bold Teamwork.
Active Patience. We seek to own undervalued, out‑of‑favor, quality businesses whose earnings power is not yet reflected in valuations. We strive to capitalize on price dislocations and short-term market inefficiencies to drive long-term capital appreciation and higher relative risk-adjusted returns compared to the benchmark over a full market cycle.
Independent Thinking. We focus on connecting information versus collecting information. We tap a variety of informational sources to form our own proprietary view of an industry and/or business. The goal is to build a ‘best ideas’ portfolio balanced by exposure limits for individual positions, industry and country weightings. Alpha is generated by having a correct, non‑consensus point of view. The primary reasons a stock will be sold are: (i) if its valuation reaches our investment goals, (ii) if a better opportunity for investment presents itself, or (iii) if there are material adverse changes to a company’s fundamentals.
Focused Expertise. Our investment process begins with clearly defined quantitative and fundamental screening parameters for idea generation. We seek to identify investment controversies and look for discernable investment catalysts signaling a significant inflection in the trajectory of the business, industry, economy and/or geopolitical situation. We consider a range of outcomes for a company’s earnings potential. We also integrate financially material and relevant environmental, social, and governance (“ESG”) risk factors and opportunities qualitatively into our research, and quantitatively in financial models with proprietary ESG ratings assigned to every holding. The Fund is a diversified Fund that will typically hold 45–75 securities in its portfolio.
Bold Teamwork. Validation teams are utilized for every company considered to help avoid blind spots in analysis and fully explore all points of view. The validation teams are typically comprised of three investment professionals with clearly defined roles who debate and critique the thesis, review the financial forecasts, and use that information to quantify upside potential and downside risk.
AGLOX - Performance
Return Ranking - Trailing
| Period | AGLOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.7% | -35.6% | 29.2% | 84.90% |
| 1 Yr | 3.0% | 17.3% | 252.4% | 97.05% |
| 3 Yr | 2.5%* | -3.5% | 34.6% | 86.50% |
| 5 Yr | 5.4%* | 0.1% | 32.7% | 90.47% |
| 10 Yr | 5.5%* | -6.9% | 18.3% | N/A |
* Annualized
Return Ranking - Calendar
| Period | AGLOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | -5.8% | -24.3% | 957.1% | 69.74% |
| 2022 | -9.9% | -38.3% | 47.1% | 91.78% |
| 2021 | 9.3% | -54.2% | 0.6% | 11.17% |
| 2020 | 6.8% | -76.0% | 54.1% | 89.17% |
| 2019 | 11.0% | -26.1% | 47.8% | 47.37% |
Total Return Ranking - Trailing
| Period | AGLOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.7% | -35.6% | 29.2% | 85.35% |
| 1 Yr | 3.0% | 11.4% | 252.4% | 96.14% |
| 3 Yr | 2.5%* | -3.5% | 34.6% | 84.79% |
| 5 Yr | 5.4%* | 0.1% | 32.7% | 89.13% |
| 10 Yr | 5.5%* | -6.9% | 18.3% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | AGLOX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 6.2% | -24.3% | 957.1% | 69.74% |
| 2022 | -5.5% | -33.1% | 47.1% | 92.04% |
| 2021 | 11.5% | -44.4% | 1.8% | 11.84% |
| 2020 | 7.7% | -6.5% | 54.1% | 86.68% |
| 2019 | 16.0% | -14.4% | 47.8% | 41.15% |
NAV & Total Return History
AGLOX - Holdings
Concentration Analysis
| AGLOX | Category Low | Category High | AGLOX % Rank | |
|---|---|---|---|---|
| Net Assets | 61.1 M | 199 K | 133 B | 66.89% |
| Number of Holdings | 72 | 1 | 9075 | 49.23% |
| Net Assets in Top 10 | 28.8 M | -18 M | 37.6 B | 58.04% |
| Weighting of Top 10 | 43.09% | 9.1% | 100.0% | 7.09% |
Top 10 Holdings
- Check Point Software Technologies Ltd. ORD ILS0.01 5.72%
- Microsoft Corporation COM USD0.00000625 5.24%
- Verizon Communications Inc. COM USD0.10 4.65%
- NetApp Inc. COM USD0.001 4.57%
- Davita Inc COM USD0.001 4.22%
- Intel Corporation COM USD0.001 3.85%
- Compagnie Generale des Etablissements Michelin EUR0.50 (POST SUBDIVISION) 3.83%
- Gilead Sciences, Inc. COM USD0.001 3.76%
- Baidu Inc. SPON ADS EACH REP 0.1 ORD S 3.62%
- Bridgestone Corp. NPV 3.61%
Asset Allocation
| Weighting | Return Low | Return High | AGLOX % Rank | |
|---|---|---|---|---|
| Stocks | 97.43% | 61.84% | 125.47% | 83.92% |
| Preferred Stocks | 1.93% | -0.01% | 5.28% | 62.44% |
| Cash | 1.74% | -174.70% | 23.12% | 9.69% |
| Convertible Bonds | 0.00% | 0.00% | 4.46% | 57.82% |
| Bonds | 0.00% | -1.50% | 161.67% | 59.58% |
| Other | -1.11% | -13.98% | 19.14% | 66.08% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | AGLOX % Rank | |
|---|---|---|---|---|
| Healthcare | 27.02% | 0.00% | 35.42% | 0.77% |
| Technology | 17.34% | 0.00% | 49.87% | 72.36% |
| Financial Services | 14.21% | 0.00% | 38.42% | 70.26% |
| Communication Services | 13.02% | 0.00% | 57.66% | 10.35% |
| Consumer Defense | 10.40% | 0.00% | 73.28% | 23.02% |
| Consumer Cyclical | 8.55% | 0.00% | 40.94% | 72.80% |
| Utilities | 5.11% | 0.00% | 29.12% | 12.11% |
| Real Estate | 2.62% | 0.00% | 39.48% | 52.31% |
| Industrials | 1.72% | 0.00% | 44.06% | 95.48% |
| Energy | 0.00% | 0.00% | 21.15% | 84.69% |
| Basic Materials | 0.00% | 0.00% | 38.60% | 93.83% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | AGLOX % Rank | |
|---|---|---|---|---|
| US | 48.93% | 0.13% | 103.82% | 91.30% |
| Non US | 48.50% | 0.58% | 99.46% | 10.13% |
AGLOX - Expenses
Operational Fees
| AGLOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.36% | 0.01% | 44.27% | 35.23% |
| Management Fee | 0.80% | 0.00% | 1.82% | 74.40% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 37.47% |
| Administrative Fee | N/A | 0.01% | 0.76% | N/A |
Sales Fees
| AGLOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| AGLOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| AGLOX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 24.00% | 0.00% | 395.00% | 24.43% |
AGLOX - Distributions
Dividend Yield Analysis
| AGLOX | Category Low | Category High | AGLOX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 5.55% | 0.00% | 3.26% | 57.33% |
Dividend Distribution Analysis
| AGLOX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
| AGLOX | Category Low | Category High | AGLOX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.73% | -4.27% | 12.65% | 23.86% |
Capital Gain Distribution Analysis
| AGLOX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 19, 2023 | $0.892 | OrdinaryDividend |
| Nov 21, 2023 | $1.980 | OrdinaryDividend |
| Dec 20, 2022 | $0.729 | OrdinaryDividend |
| Dec 21, 2021 | $0.366 | OrdinaryDividend |
| Dec 22, 2020 | $0.143 | OrdinaryDividend |
| Dec 17, 2019 | $0.307 | OrdinaryDividend |
| Dec 27, 2018 | $0.325 | OrdinaryDividend |
| Dec 28, 2017 | $0.156 | OrdinaryDividend |
| Dec 29, 2016 | $0.212 | OrdinaryDividend |
| Dec 30, 2015 | $0.110 | OrdinaryDividend |
AGLOX - Fund Manager Analysis
Managers
Rupal Bhansali
Start Date
Tenure
Tenure Rank
Dec 30, 2011
10.42
10.4%
Rupal Bhansali is chief investment officer and portfolio manager of Ariel’s international and global equity strategies. In this capacity, she oversees our global research effort and manages multi-billion dollar portfolios. She also co-manages our global concentrated strategy. Rupal joined Ariel in 2011 after 10 years with MacKay Shields where she was senior managing director, portfolio manager and head of international equities. Previously, she spent 5 years at Oppenheimer Capital, where she was responsible for international and global equity portfolios and was promoted to co-head of international equities. Additionally, Rupal has held various roles at other financial services firms since she began her career in 1989, including Soros Fund Management. In 2009, Forbes International Investment Report named her a “Global Guru,” in 2015, Barron’s recognized her as a “Global Contrarian,” and in 2017 PBS’s Consuelo Mack referred to her as an “unconventional thinker.” In January 2019, Rupal became the newest member of the prestigious Barron’s Investment Roundtable, which showcases “10 of Wall Street’s smartest investors.” She is a frequent guest on Bloomberg, CNBC and Fox Business News, and authored the book, Non-Consensus Investing: Being Right When Everyone Else Is Wrong. Rupal is an FSA credential holder, which is administered by the Sustainability Accounting Standards Board (SASB). Fluent in several Indian languages including Hindi, Rupal earned a Bachelor of Commerce in accounting and finance, as well as a Master of Commerce in international finance and banking from the University of Mumbai. She later earned an MBA in finance from the University of Rochester, where she was a Rotary Foundation Scholar.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.01 | 35.82 | 6.24 | 1.25 |