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Wednesday, November 14, 2007|
Fred Alger Unveils 130/30 Strategy
Fred Alger Managementhas introduced a 130/30 equity offering called the Amplified Alpha Strategy. The product aims to amplify the returns of the Alger all-cap strategy by seeking alpha on both the long and short side of the portfolio.
NEW YORK, Nov. 13 /PRNewswire/ -- Fred Alger Management, a leading money manager, today announced the launch of its Amplified Alpha strategy, a 130/30 equity product. Adding this offering to its line-up will enable Alger to meet increasing client demand for this important and growing segment of the asset management industry. The Amplified Alpha strategy combines the strengths of Alger's fundamental proprietary research process, which has been the foundation for Alger management since its establishment more than 40 years ago, with a unique short strategy. The long portfolio follows the Alger all-cap strategy and will be managed by the manager of the Alger Capital Appreciation Fund and the Spectra Fund. The short portfolio consists of a quantitatively-based, factor-neutral complement to the long portfolio. The result is a strategy that blends the fundamental Alger investment process with a quantitatively-based short strategy. The portfolio managers are Patrick Kelly and Gregory Adams. Mr. Kelly has managed Alger's all-cap strategy since 2004 and has been with the firm since 1999. Mr. Kelly has more than 10 years of investment experience. Mr. Adams has been a member of Alger's research team since 2006 and has more than 20 years of investment experience. "The Amplified Alpha Strategy is an innovative 130/30 portfolio," Mr. Adams said. "By blending a risk-controlled quantitative short strategy with our all-cap expertise, we believe we can better meet the needs of the investing community." Alger's 130/30 approach seeks to amplify the returns of the Alger all-cap strategy by seeking alpha on both the long and short side of the portfolio. This could lead to improved risk and return characteristics compared to its benchmark. About Fred Alger Management Founded in 1964, Fred Alger Management, Inc. is a leading asset management firm managing more than $14 billion. Alger employs a bottom-up approach in its attempt to identify the fastest-growing companies in their respective sectors. For more than 40 years, Alger has followed a rigorous process, a consistent approach, and a core philosophy: find dynamic, innovative companies creating change and invest in them. Fred Alger Management offers investment advisory services to separately managed, sub-advised, and wrap accounts. Fred Alger & Company, Incorporated offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit www.alger.com.
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