Alger Announces Launch of Dynamic Opportunities Fund

NEW YORK, Jan. 28 /PRNewswire/ -- Fred Alger Management, Inc. today announced the launch of the Alger Dynamic Opportunities Fund, a publicly offered mutual fund designed with a similar investment philosophy as the privately placed Alger Dynamic Return Fund LLC. The fund is a new addition to Alger's mutual fund line-up, reflecting a long-short strategy which has generally been available only to a select group of institutional and professional investors.

Employing the same research and portfolio managers as the Dynamic Return Fund, the Dynamic Opportunities Fund will seek long-term capital appreciation with an emphasis on risk-adjusted returns and lower volatility. The fund applies fundamental research in both long and short equity positions, finding companies across a broad capitalization range. The fund may have long and short exposure and may create this exposure through the use of a variety of instruments.

"We believe this fund represents a great addition to our diversified growth equity line-up and will not only reflect Alger's primary theme of finding companies undergoing Positive Dynamic Change, but also enable us to capitalize on opportunities we believe are over-valued by taking short or contrary positions," said Dan Chung, CEO and CIO of Fred Alger Management. "The Alger Dynamic Opportunities Fund allows investors to take advantage of Alger's full investment capabilities within one investment vehicle."

The Alger Dynamic Opportunities Fund is available to investors for both taxable accounts and qualified plans. The minimum investment in the fund is $1,000 or $500 in an IRA plan. Class A shareholders of other Alger mutual funds will have exchange privileges into this fund subject to prospectus guidelines.

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's investment strategies are available to institutional investors through separate accounts and to retail investors through Alger mutual funds and managed accounts (SMA). 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.

Before investing, carefully consider the fund's investment objectives, risks, charges, and expenses. For a prospectus containing this and other information about the fund, call (800) 992-3863, visit www.alger.com, or contact your financial advisor. Read it carefully before investing.

SOURCE Fred Alger Management, Inc.