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Rating:A Gotham Fund Firm Lays Off Nine Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, March 6, 2023

A Gotham Fund Firm Lays Off Nine

Reported by Neil Anderson, Managing Editor

A Big Apple mutual fund firm's leadership recently trimmed their staff. The restructuring comes as the firm continues to suffer outflows amid the current stock market volatility.

Daniel "Dan" Cayley Chung
Fred Alger Management
Alger [profile] recently laid off nine employees, MFWire has learned. That translates into less than five percent of the New York City-based firm's global headcount, and word is that no analysts or portfolio managers were affected by the cuts.

A spokesperson for Alger declined to comment.

The staff reduction comes as Alger is navigating outflows. In January, Alger suffered net mutual fund outflows equivalent to 2 percent of its remaining AUM, after suffering net 2022 outflows equivalent to 42.9 percent of its remaining AUM. 

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