American Skandia Investment Services has renamed Fred Alger Management as the sole sub-advisor of American Skandia Trust's AST All-Cap Growth Portfolio and American Skandia Advisor Funds' ASAF All-Cap Growth Fund. Fred Alger Management returns to its role of sole sub-advisor after an interim period of three months.

The interim co-sub-advisor was MFS Investment Management. American Skandia devised the interim period following the terrorist attack on the World Trade Center on September 11. Fred Alger Management lost its Manhattan offices and many of its employees including portfolio managers David Alger and Seilai Khoo.

"After carefully monitoring and reviewing the status of the portfolios and Fred Alger Management's ability to rebuild their firm, we decided that it is the appropriate time to shift management responsibilities back to Alger," stated Michael Murray, senior vice president and chairman of the American Skandia Investment Committee. "Our thanks goes out to MFS for stepping in when we needed them, and we look forward to continuing our longstanding and fruitful relationship with Fred Alger Management." Following the attack, Fred Alger came out of retirement to take up the reins of his company again. 

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