Alger Announces Inaugural Members of Alger Partners Plan

NEW YORK, March 4 /PRNewswire/ -- Fred Alger Management, Inc. (Alger) announced today the inaugural members of the Alger Partners Plan. They are:

Dan Chung, CFA, President & Chief Executive Officer, Chief Investment Officer; Jill Greenwald, CFA, Executive Vice President, Portfolio Manager; Patrick Kelly, CFA, Executive Vice President, Portfolio Manager; Hal Liebes, Esq., Executive Vice President, Chief Operating Officer.

While Alger proudly continues to be a privately owned firm, the adoption of the Partners Plan recognizes the importance of aligning the incentives of its key employees with its shareholders.  The Alger Partners Plan is an equity program for Alger's senior executives and investment professionals. Participation in the program will be reviewed annually and the number of participants may increase in the future. The introduction of the Alger Partners Plan does not alter in any way how the firm manages investments on behalf of our retail and institutional clients.

The Partners Plan augments Alger's existing Long Term Compensation program for key employees. Four years ago Alger introduced this program in order to give senior executives and investment professionals an opportunity to create meaningful wealth with the firm's growth and success. Currently, over 70% of Alger's senior officers and investment professionals participate in the Long Term Compensation program.

"I am thrilled to be able to continue to recognize key members of the Alger organization," said Dan Chung, CEO.  "The participants in both plans are keenly motivated to help our clients achieve their investment objectives and continue Alger's legacy as a premier growth equity manager."

About Alger: 

Fred Alger Management, Inc. was founded in 1964 and currently manages more than $12 billion. Alger's investment philosophy is focused on discovering companies undergoing Positive Dynamic Change, which we believe offer the best investment opportunities. Alger investment strategies are available to institutional investors through separate accounts and mutual funds and to retail investors through Alger mutual funds. Fred Alger & Company, Incorporated, a broker-dealer and the parent company of Fred Alger Management, Inc. offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit www.alger.com.

SOURCE Fred Alger Management, Inc.