Ankur Crawford Joins Patrick Kelly as Portfolio Manager on Alger SICAV - The Alger American Asset Growth Fund

LONDON, May 29, 2015 /PRNewswire/ --

Fred Alger Management, Inc., a leading asset management firm, announced today that Ankur Crawford, Ph.D. is joining Patrick Kelly, CFA as Portfolio Manager on Alger SICAV - The Alger American Asset Growth Fund. Additionally, Patrick was named Head of Alger Capital Appreciation and Spectra Strategies.

Alger SICAV - The Alger American Asset Growth Fund celebrated 10 years of strong performance under Patrick's stewardship last year. Patrick has served as Portfolio Manager for the Fund since 2004, and has nearly 20 years of investment experience. Additionally, the Fund has received numerous Lipper Fund Awards over the years, including six Lipper Fund Awards 2015 for Best Equity U.S. Fund over 10 Years.

"Ankur has been an integral member of Alger's investment team for over a decade and I congratulate her on this new role," said Dan Chung, CEO and Chief Investment Officer. "She has been a top contributor to many of our strategies during her tenure at Alger. I'm confident that her hard work, energy, and enthusiasm for investing will help drive strong results for our clients."

Both Ankur and Patrick were trained in the "Alger Way" of investing, as they each rose from Research Associate to Senior Analyst and then to Portfolio Manager. At each step of their career progression, Ankur and Patrick were exemplary in their ability to identify and invest in companies experiencing Positive Dynamic Change.

Alger's investment philosophy of Positive Dynamic Change has been in place since the firm's founding in 1964. Alger defines Positive Dynamic Change as companies experiencing high unit volume growth or undergoing positive life cycle change. High unit volume growth companies are traditional growth companies that are experiencing a growing demand, have a strong business model, or have market dominance. Positive life cycle change companies are companies that are experiencing a "growth renaissance," and are benefiting from regulatory changes, new product introductions, or management changes.

"Ankur is one of Alger's most talented investment professionals. We have worked closely over the past decade, and I have the utmost respect for her on both a professional and personal level," said Patrick Kelly, CFA, Executive Vice President. "The past 10 years in which I have been a portfolio manager on Alger SICAV - The Alger American Asset Growth Fund and the Capital Appreciation and Spectra strategies have been very rewarding to our clients. I am hopeful and confident about what the future holds for these strategies."

In recognition of Patrick's leadership on these strategies and his contributions to the firm, he has been named Head of Alger Capital Appreciation and Spectra Strategies. In this role, Patrick will be responsible for overseeing all aspects of the portfolios, including Alger SICAV - The Alger American Asset Growth Fund. Patrick has been with Alger since 1999 and has served as Portfolio Manager since 2004.

Ankur, who joined Alger in 2004, will continue her responsibilities as Senior Analyst for the Technology sector and she will retain her role as Portfolio Manager on the Alger Mid Cap Growth strategies.

"I am very excited to be part of Alger's significant growth, especially in light of recently celebrating our 50^th anniversary and our global expansion," said Ankur Crawford. "I look forward to working even more closely with Patrick on these portfolios as we strive for strong, long-term results for our clients."

About Fred Alger Management, Inc. 

Fred Alger Management, Inc. was founded in 1964 and as of March 31, 2015 managed more than $23.6 billion. Alger's investment philosophy is focused on uncovering 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.

Products, services, and information may not be available in all jurisdictions and are offered outside the U.S. by other Fred Alger Management, Inc. ("Fred Alger") affiliates and/or their distributors as local laws and regulation permits. Please consult your own professional adviser for further information on availability of products and services in your jurisdiction.

Issued in the U.S. by Fred Alger Management, Inc., 360 Park Avenue South, New York, NY 10010, USA, (212) 806-8800, alger.com. Fred Alger Management, Inc. is the principal distributor of Alger's U.S. registered products and Alger SICAV, a Luxembourg investment company with variable capital, which are available only in jurisdictions where an offer or solicitation of such products is permitted under applicable laws and regulation. Founded in 1964, Fred Alger Management, Inc. provides investment advisory services to institutional and individual investors through traditional and alternative strategies in a variety of products, including separate accounts, mutual funds and privately offered investment vehicles.

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.

Lipper Fund Award rankings are based on Class A shares as other share classes were not established or did not exist during relevant assessment period. Classification averages are calculated with all eligible share classes for each eligible classification, the calculation periods extend over 36, 60, and 120 months. The highest Lipper Leader for Consistent Return (effective Return) value within each eligible classification determines the fund classification winner over three, five, or ten years. Alger SICAV - The Alger American Asset Growth Fund (Class A) was named Best Equity U.S. Fund over 10 Years in Austria (1 out of 106 eligible funds); Europe (1 out of 122 eligible funds); Germany (1 out of 125 eligible funds); Netherlands (1 out of 91 eligible funds) Switzerland (1 out of 108 eligible funds); United Kingdom (1 out of 102 eligible funds). Lipper is a Thomas Reuters company that provides mutual fund information, analytical tools and commentary. The Alger SICAV is not available for sales in all jurisdictions. Please see http://www.lipperweb.com for details on ranking awards and ranking awards methodology.