LONDON, June 11, 2015 /PRNewswire/ —
Fred Alger Management, Inc., a leading asset management firm, today announced that it has launched euro-denominated share classes for Alger SICAV, a Luxembourg UCITS vehicle.
Alger SICAV makes three sub-funds available to non-U.S. investors: The Alger American Asset Growth Fund, Alger Emerging Markets Fund, and Alger Dynamic Opportunities Fund. The launch of the euro-denominated share classes complements the existing U.S. dollar-denominated sub-funds. Investors in the euro-denominated sub-funds will be able to track the Net Asset Value (NAV) in euros.
“Investors who reside in Eurozone countries will now have the ability to invest in any of Alger SICAV’s sub-funds in euros or dollars,” said Dan Chung, CEO and Chief Investment Officer. “This ensures investors have maximum flexibility and convenience. Investors will no longer have to exchange euros into dollars, which can be costly and subject investors to currency fluctuations,” added Dan.
Alger SICAV – The Alger American Asset Growth Fund, managed by Patrick Kelly, CFA and Ankur Crawford, Ph.D. of Fred Alger Management, Inc. (the sub-portfolio manager/investment adviser to Alger SICAV), invests primarily in U.S.-domiciled companies across all market caps with a current bias toward large caps, that demonstrate promising growth potential. Patrick, who has 18 years of investment experience, has served as Portfolio Manager since 2004 and Ankur, who has 11 years of investment experience, was named Portfolio Manager earlier this year. Additionally, the Fund has received numerous Lipper Fund Awards over the years, including six Lipper Fund Awards 2015 for Best Equity U.S. Fund over 10 Years.
Alger SICAV-Alger Emerging Markets Fund, managed by Deborah Vélez Medenica, CFA of Fred Alger Management, Inc. (the sub-portfolio manager/investment adviser to Alger SICAV), invests in equities across a broad array of emerging market countries. Deborah has managed Fred Alger Management, Inc.’s Alger Emerging Markets strategy since its inception in 2010 and, more importantly, has been an emerging markets portfolio manager since 1999. The Alger SICAV-Alger Emerging Markets Fund is supported by a team of experienced analysts who perform original, bottom-up, fundamental research to find high conviction opportunities in emerging market companies.
Alger SICAV-Alger Dynamic Opportunities Fund is a long/short hedged equity fund that invests primarily in U.S.-domiciled companies. The sub-fund is managed in a similar style and by the same portfolio managers as Fred Alger Management, Inc.’s Alger Dynamic Return strategy, which has been offered since 2008- Dan Chung, CFA, Patrick Kelly, CFA, and Greg Adams, CFA. The portfolio managers are supported by a team of more than 30 global investment analysts performing in-depth research to select stocks for the portfolio.
About Fred Alger Management, Inc.
Fred Alger Management, Inc. was founded in 1964 and as of March 31, 2015 managed more than $23.6 billion. Alger’s investment philosophy is focused on uncovering companies undergoing Positive Dynamic Change, which we believe offer the best investment opportunities. Alger investment strategies are available to non-U.S. and institutional investors through separate accounts and the Alger SICAV funds.
Products, services, and information may not be available in all jurisdictions and are offered outside the U.S. by other Fred Alger Management, Inc. (” Fred Alger“) affiliates and/or their distributors as local laws and regulation permits. Please consult your own professional adviser for further information on availability of products and services in your jurisdiction.
Issued in the U.S. by Fred Alger Management, Inc., 360 Park Avenue South, New York, NY 10010, USA, (212) 806-8800, alger.com. Fred Alger Management, Inc. is the principal distributor of Alger’s U.S. registered products and Alger SICAV, a Luxembourg investment company with variable capital, which are available only in jurisdictions where an offer or solicitation of such products is permitted under applicable laws and regulation. Fred Alger Management, Inc. provides investment advisory services to institutional and individual investors through traditional and alternative strategies in a variety of products, including separate accounts, mutual funds and privately offered investment vehicles.
Important information for UK investors: The content of this commentary has been approved for the purposes of Section 21(2)(b) of the Financial Services and Markets Act 2000 (“FSMA”) by Alger Management, Ltd., which is authorised and regulated by the Financial Conduct Authority, for distribution in the UK to persons who qualify as professional clients or eligible counterparties only. The rules made under the FSMA for the protection of retail clients do not apply to the services provided by Alger Associates, Inc., Fred Alger Management, Inc. and Fred Alger & Company, and compensation under the United Kingdom Financial Services Compensation Scheme will not be available.
Lipper Fund Award rankings are based on Class A shares as other share classes were not established or did not exist during relevant assessment period. Classification averages are calculated with all eligible share classes for each eligible classification, the calculation periods extend over 36, 60, and 120 months. The highest Lipper Leader for Consistent Return (effective Return) value within each eligible classification determines the fund classification winner over three, five, or ten years. Alger SICAV – The Alger American Asset Growth Fund (Class A) was named Best Equity U.S. Fund over 10 Years in Austria (1 out of 106 eligible funds); Europe (1 out of 122 eligible funds); Germany (1 out of 125 eligible funds); Netherlands (1 out of 91 eligible funds) Switzerland (1 out of 108 eligible funds); United Kingdom (1 out of 102 eligible funds). Lipper is a Thomas Reuters company that provides mutual fund information, analytical tools and commentary. The Alger SICAV is not available for sales in all jurisdictions. Please see http://www.lipperweb.com for details on ranking awards and ranking awards methodology.
SOURCE Fred Alger Management, Inc.