Funds Group: Ariel Funds
Management Company: Ariel Investments
Funds Affected: Ariel Appreciation Fund, Ariel Discovery Fund, Ariel Focus Fund, Ariel Fund
Principal Sustainable Investment Strategy: Exclusions
The funds do not invest in companies whose primary source of revenue is derived from the production or sale of tobacco products or the manufacture of handguns. Ariel believes these industries may be more likely to face shrinking growth prospects, litigation costs and legal liability that cannot be quantified.