NEW YORK, June 26, 2014 /PRNewswire/ --
Alger Associates, Inc., the parent company of Fred Alger Management, Inc., a leading asset management firm, has announced the formation of a United Kingdom based subsidiary, Alger Management, Ltd. to further expand its global asset management operations. Fred Alger Management, Inc. initially began offering its asset management capabilities in Europe in 1996. Today, Fred Alger Management, Inc. is a full service asset management company with over $2.5 billion dollars of assets invested on behalf of our clients and shareholders located outside the United States.
Additionally, on July 1, Alger Management, Ltd. will appoint Kirk Hotte, Senior Vice President, Head of International Sales to lead its new office. Kirk will focus on expanding Alger's presence to private bank, multimanager, and institutional relationships located outside the U.S. Prior to joining Alger, Kirk held senior positions in distribution at Old Mutual Global Investors and Investec Asset Management, where he was European Business Director. Kirk also spent more than 12 years at AXA where his last role was Director of Global Distributors. He is a graduate of the HEC Business School in France and the University of Texas at Austin.
"Establishing Alger Management, Ltd. and hiring Kirk adds to our ongoing global distribution efforts, and is an indication of the optimism we have to build our presence outside the U.S. and a reflection of the offshore growth we have had over the past five years," said Jim Tambone, Executive Vice President and Chief Distribution Officer of Fred Alger Management, Inc. "This expansion, and the hiring of an individual with the talent and experience that Kirk possesses, demonstrates our long-term commitment to our existing clients, shareholders, and consultants."
Non-U.S. investors will be able to access Alger investment offerings through Alger SICAV, which includes The Alger American Asset Growth Fund, managed by Patrick Kelly, CFA, Alger Emerging Markets Fund, managed by Deborah Vélez Medenica, CFA, and Alger Dynamic Opportunities Fund, a long/short hedged equity fund managed by three of Alger's portfolio managers, including CEO and Chief Investment Officer Dan Chung, CFA. In addition, clients can access Alger's strategies through sub-advised and separate account mandates.
About Fred Alger Management, Inc.
Fred Alger Management, Inc. was founded in 1964 and as of March 31, 2014 managed more than $21.5 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 non-U.S. and institutional investors through separate accounts and the Alger SICAV funds.
Important information for UK investors: The content of this commentary has been approved for the purposes of Section 21(2)(b) of the Financial Services and Markets Act 2000 ("FSMA") by Alger Management, Ltd., which is authorised and regulated by the Financial Conduct Authority, for distribution in the UK to persons who qualify as professional clients or eligible counterparties only. The rules made under the FSMA for the protection of retail clients do not apply to the services provided by Alger Associates, Inc., Fred Alger Management, Inc. and Fred Alger & Company, and compensation under the United Kingdom Financial Services Compensation Scheme will not be available.
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SOURCE Alger Management Ltd