Ariel Investments, an investment management company, released its “Ariel Global Fund” first-quarter 2024 investor letter. In the first quarter, the Ariel Global fund appreciated +7.35% lagging behind the +8.20% gain of its primary benchmark, the MSCI ACWI Index, but ahead of the +6.85% return of its secondary benchmark, the MSCI ACWI Value Index. The upward rally of developed markets continued in the first quarter of 2024. The rally was driven by investors' excitement over artificial intelligence (AI), a rebound in bank lending growth, decreased energy costs, a rise in global...
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