Alger Wins Two Institutional Mandates

NEW YORK, March 23 /PRNewswire/ -- Fred Alger Management, Inc. announced today that it has been awarded two new separate account mandates from The Lutheran Foundation and the United Association of Plumbers & Steam Fitters Local Union No. 322. The Lutheran Foundation will be utilizing Alger's Large Cap Growth strategy and the Local Union 322 will be utilizing Alger's Capital Appreciation strategy. Dan Chung, CEO and CIO, and Patrick Kelly, CFA, Executive Vice President, respectively, will be the portfolio managers for these two mandates. Alger's Portfolio Managers and Analysts utilize the time-tested philosophy of investing in companies undergoing Positive Dynamic Change, which has been in place since Alger was founded 45 years ago.

"We welcome The Lutheran Foundation and the Plumbers & Steam Fitters Local Union 322 to our ever expanding roster of institutional clients," said Dan Chung, CEO.  "These appointments further demonstrate our ongoing commitment to the institutional marketplace and consultant community."

About Alger: 

Fred Alger Management, Inc. was founded in 1964 and currently manages more than $13 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.