360 Park Avenue South
New York, NY 10010
Google Maps
Contact
Main Phone: 212-806-8800
Web Site:
http://www.alger.com/pt/
Mutual Fund Brand(s)
Alger Funds
Research Links
SEC Fund Filings by CIK
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Background:
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Fred Alger founded the eponyomous Fred Alger Management in 1964 and helped pioneer growth-style investment management. The firm has been independent and privately owned since its inception.
Alger places a high priority on extensive, original, and fundamental bottom-up research, and cites its analysts as the foundation of its investment process. The firm invests in companies undergoing what it calls "positive dynamic change," defined as either high unit volume growth (growing demand, strengthened business model, market dominance, free cash flow) or positive life cycle change (new management, product innovation, new acquisition, benefactor of new regulations).
Daniel C. Chung is the CEO, CIO, and President of Fred Alger Management. Chung became CIO on September 12, 2001, one day after the September 11 terrorist attacks killed 35 members of the 55-person Fred Alger headquarters staff working on the 93rd floor of the World Trade Center. Among the victims were 20 of the firm's 24 fund managers and analysts, as well as David Alger, Fred Alger's younger brother and the firm's CEO at the time.
Chung is Fred Alger's son-in-law. He was the highest-ranking employee who survived the attacks. He became president of the company in 2003, and CEO in 2006. Along with founder Fred Alger, who came out of retirement in 2001, Chung helped keep the firm afloat despite the loss of many employees. Chung also manages or helps manage several of Alger's funds.
The company ran into difficulties in 2005, when months of state and regulatory investigations led the SEC to issue the firm a Wells Notice in December. The probes explored whether several of the Alger Funds were engaging in market timing and late trading -- allegations that several other fund firms were facing at the time. In June 2006, Fred Alger Management reached an agreement to settle the allegations by then-New York Attorney General Eliot Spitzer and the SEC. The firm paid $30 million to reimburse fund shareholders and $10 million in fines, and agreed to reduce management fees for the next five years.
In June 2008, Alger integrated its Spectra line of no-load funds into the Alger fund family. It began to market the Spectra funds under the Alger brand. Alger converted Class N shares of the Spectra funds into A shares, and added C and I share classes.
In July 2009, Alger gave itself an even more extensive makeover: the firm developed a new brand identity, logo, and a slogan: "Inspired by Change, Driven by Growth." The company also redesigned its print, web, and media platforms to emphasize its founding role in growth investing.
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Sponsored Opportunities
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Key People:
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Dan Chung
CEO, Chief Investment Officer, Portfolio Manager, Fred Alger Management | Fred Alger
Founder, Fred Alger Funds | Hal Liebes
EVP, Chief Operating Officer, Chief Legal Officer, Fred Alger Management | Liz Clapp-Carey
Head of Retail Sales, Fred Alger Management | Michael DiMeglio
EVP, Chief Administrative Officer, Fred Alger Management | Robert Kincel
SVP, Chief Financial Officer, Fred Alger Management | Loraine McEvoy
SVP, Director of Consultant Relations, Fred Alger Management | Jim Blakeslee
WM Group of Funds |
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