MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Thursday, October 28, 1999 Alger Adds Cost Info And More to Website The Alger Fund, a six fund family advised by Fred Alger Management, Inc. is planning on making its investors' life a bit easier after the first of the year, adding a cost basis section to its website for accounts opened after Dec. 31, 1995.
"This addition is very important for us at Alger because we encourage our investors to dollar cost average. If their investments go back four years, they might have 48 possible cost bases," Connelly told the MFWire, "and determining the appropriate cost basis would be difficult for them to calculate on their own." The funds' website, effective Jan. 1, 2000, will also give shareholders the ability to retrieve historical statements and Form 1099s dating back to year end 1995. In other Alger news, the funds have begun an fax/email distribution update mass mailing for financial intermediaries, updated every month until distributions are paid in early December. Distribution updates will also be posted on their website. Although Connelly acknowledges that the updates may cause sales to fall until the distributions are paid, he stresses the importance of maintaining the relationships with intermediaries and keeping them informed. Printed from: MFWire.com/story.asp?s=25203 Copyright 1999, InvestmentWires, Inc. All Rights Reserved |
