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Rating:A New York Asset Manager Will Donate a Slice of its Management Fee Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, November 18, 2008

A New York Asset Manager Will Donate a Slice of its Management Fee

News summary by MFWire's editors

Freg Alger Management executives said Tuesday they will donate one percent of the management fee from the Alger Green Fund to a network of environmental groups. The New York City-headquartered fund firm enlisted in 1% Percent For the Planet, a nonprofit composed of more than 1,000 firms. Alger executives said the Green Fund is the first mutual fund to take part in the organization.
Company Press Release

NEW YORK, Nov. 18 /PRNewswire/ -- Fred Alger Management, Inc. (Alger), on behalf of The Alger Green Fund announces its membership in 1% For The Planet, Inc., a nonprofit organization made up of more than 1,000 companies that have agreed to donate 1% of their sales or revenues to a network of environmental organizations worldwide. Alger will donate 1% of the management fee it earns from the Alger Green Fund to environmental organizations approved by 1% For The Planet. More information on 1% For The Planet can be found on its website, http://www.onepercentfortheplanet.com. The Alger Green Fund is the first mutual fund in the nation to join this organization.

The Alger Green Fund invests in equity securities of companies of any size that conduct their business in an environmentally sustainable manner while demonstrating promising growth potential.

In pursuing its investment objectives, the Manager looks for companies that have developed or are developing or marketing products or services that address human needs without undermining nature's ability to support our economy into the future, have a positive or neutral impact on the environment on a relative basis, or recognize environmental sustainability as a challenge and opportunity as demonstrated through their business strategies, practices, or investments.

About Fred Alger Management

Founded in 1964, Fred Alger Management, Inc. is a leading asset management firm managing more than $9 billion. Alger employs a bottom-up approach in its attempt to identify the fastest-growing companies in their respective sectors. For more than 40 years, Alger has followed a rigorous process, a consistent approach, and a core philosophy: find dynamic, innovative companies creating change and invest in them. Alger offers investment advisory services to separately managed, sub-advised, and wrap accounts. Fred Alger & Company, Incorporated offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit www.alger.com.

Edited by: Armie Margaret Lee

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