has resigned from Fred Alger. The portfolio manager of the Alger Health Sciences Fund
and co-manager of Alger Capital Appreciation Fund
and Alger Socially Responsible Fund
, said that she stepped down to pursue personal goals that she put on hold after the September 11, 2001 attacks.
McRoberts rejoined the firm in 2001 after it lost nearly all of its investment management team when terrorists destroyed its offices in the World Trade Center along with the towers.
Dan Chung, Alger's president and chief investment officer, will lead a team of portfolio analysts taking over the fund. That team will include Rosanne Ott
and Joanne Sayers
, both members of the Alger Health Sciences Fund portfolio team, and Steven Yang, a junior analyst at the firm.
Patrick Kelly, who had been co-manager of the Capital Appreciation and Socially Responsible Funds, will remain as there sole portfolio manager.
"Following 9/11, I returned to Alger, where I started my career, to help rebuild their research team," said McRoberts in a statement. "Over the past four years, with the support of Dan Chung and others, I believe we have achieved that objective and I am very proud to have been a part of the Firm's success today. I am confident that the health care team in place at Alger is experienced and highly capable. I leave, not without some regret, to pursue personal goals that I had before September 11th and that I had put on hold for what I considered duty."
Ott joined Alger in April 2002 as vice president and senior analyst, covering medical supplies and device sectors. Sayers joined Alger in September 2003 as Associate Analyst covering health care services.
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