Alger to Shutter Two Funds
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Monday, January 24, 2011

Alger to Shutter Two Funds

Fred Alger Management is pulling the plug on two of its funds. The board of trustees of the Alger Funds approved the liquidation of the Alger Convertible Fund and Alger Money Market Fund. The funds will be closed to further investment after the close of trading on the NYSE on January 27. [SEC filing]

The funds' assets will be distributed to investors on or about February 28.

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