Ariel is opening its pockets for marketing and adding some staff as it rebounds from hard times earlier in this decade. The changes are highlighted in a profile of Ariel Investments run in this week's Crain's ChicagoBusiness.

Lynne Marek reports that the Chicago-based mutual fund firm, led by CEO John Rogers and president Mellody Hobson, has doubled its advertising budget even while shifting its income more towards mutual funds. The Crain's report adds that Ariel previously split its income roughly 50-50 between institutional separate accounts and mutual funds, but now its three mutual funds bring in 75 percent of its AUM.

Crain's highlights the value manager's recent turnaround after a tough couple of years. After peaking at $21 billion in 2004, Ariel's assets fell to $3 billion in March 2009 (the market low) and have since risen to $5.8 billion.

Ariel adjusted staff accordingly -- the firm laid off about 20 percent of its team in 2008, and is now adding three researchers to up its staff count to 70. 

Edited by: Neil Anderson, Managing Editor


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