Alger Launches High-Conviction Mid Cap Focus Fund
Sheila Kulik 203-475-2523
Scott A. Anderson 212-806-2972
FOR IMMEDIATE RELEASE
Alger Launches High-Conviction Mid Cap Focus Fund
NEW YORK, June 17, 2019 – Fred Alger & Company, Incorporated (“Alger”) is pleased to announce the further expansion of its suite of focused portfolios with the launch of the Alger Mid Cap Focus Fund (the “Fund”). The Fund will typically invest in 50 high-conviction growth equities, which in the investment team’s opinion offer the best investment opportunities. Amy Y. Zhang, CFA, is the portfolio manager of the Fund. Amy joined Alger in 2015 and has 24 years of investment experience, 16 years of which solely focused on small and mid-cap U.S. equities. Amy also manages the often cited and well recognized Alger Small Cap Focus Fund, a five star Morningstar rated fund. “Our bottom-up research process enables us to identify and invest in what we believe are exceptional companies that can compound value over the long term,” said Amy. “The Fund is a focused, high conviction portfolio of “best ideas” generated by our team of talented analysts. Common characteristics of the companies we invest in are both defensible competitive positions and high financial quality, such as solid balance sheets and strong cash flow generation. I am excited about the opportunity to manage the Alger Mid Cap Focus Fund and believe it is a natural extension of the work we do with the Alger Small Cap Focus Fund.” “Since 2012, Alger has managed focused portfolios and currently manages nearly $8 billion in such strategies, spanning the market cap spectrum. We believe this indicates our clients both recognize our skill and capabilities and that there is significant demand for these types of strategies. I am proud of the results Amy and her team have delivered in Small Cap Focus and believe alpha-seeking investors looking for a mid-cap solution will be interested in learning more about the Alger Mid Cap Focus Fund,” said Dan Chung, CEO and CIO of Alger.
Additionally, Morningstar has recognized the Alger Small Cap Focus Fund, a focused portfolio of approximately 50 high-conviction small capitalization stocks, by garnering it with a Silver Morningstar Analyst Rating.
Amy Y. Zhang, CFA Amy joined Alger in 2015 and has 24 years of investment experience. Prior to joining Alger, Amy worked at Brown Capital Management as a Partner, Managing Director and Senior Portfolio Manager of its Brown Capital Small Company Fund. Her previous experience includes working as a Portfolio Manager/Analyst at Epsilon Investment Management, Research Analyst at Templeton Worldwide, and Associate at Citicorp Securities. Amy earned her B.A. from Manhattanville College, where she graduated Summa Cum Laude. She earned her M.B.A. from Columbia Business School. Amy was awarded the “AAA” Citywire Fund Manager Rating for strong risk-adjusted performance (equity-U.S. small and medium companies category) in 2018. She was featured as one of the three “Best stock-fund managers of 2018” by Wall Street Journal. Also, Amy is a 2018 recipient of the Money Management Executive Top Women in Asset Management Award, as well as the Mulan Award, which recognizes successful Asian women. Amy has made TV appearances on Bloomberg, CNBC, and CNN Markets. She has been featured and quoted in Barron’s, Citywire, Financial Times, Investment News, MarketWatch, Pensions & Investments, USA Today, and Wall Street Journal.
About Alger Founded in 1964, Alger is widely recognized as a pioneer of growth-style investment management. Headquartered in New York City with affiliate offices in Boston and London, Alger provides U.S. and non-U.S. institutional investors and financial advisors access to a suite of growth equity separate accounts, mutual funds, and privately offered investment vehicles. The firm’s investment philosophy, discovering companies undergoing Positive Dynamic Change, has been in place for over 50 years. Weatherbie Capital, LLC, a Boston-based investment adviser specializing in small and mid-cap growth equity investing is a wholly-owned subsidiary of Alger. For more information, please visit www.alger.com. Risk Disclosures : Investing in the stock market involves certain risks, and may not be suitable for all investors. Growth stocks tend to be more volatile than other stocks as their prices tend to be higher in relation to their companies’ earnings and may be more sensitive to market, political, and economic developments. A significant portion of assets will be invested in technology and health care companies, which may be significantly affected by competition, innovation, regulation, and product obsolescence, and may be more volatile than the securities of other companies. Investing in companies of medium capitalizations involve the risk that such issuers may have limited product lines or financial resources, lack management depth, or have limited liquidity. Assets may be focused in a small number of holdings, making them susceptible to risks associated with a single economic, political or regulatory event than a more diversified portfolio. The Morningstar Analyst Rating ™ is not a credit or risk rating. It is a subjective evaluation performed by Morningstar’s manager research group, which consists of various Morningstar, Inc. subsidiaries (“Manager Research Group”). In the United States, that subsidiary is Morningstar Research Services LLC, which is registered with and governed by the U.S. Securities and Exchange Commission. The Manager Research Group evaluates funds based on five key pillars, which are process, performance, people, parent, and price. The Manager Research Group uses this five pillar evaluation to determine how they believe funds are likely to perform relative to a benchmark, or in the case of exchange-traded funds and index mutual funds, a relevant peer group, over the long term on a risk-adjusted basis. They consider quantitative and qualitative factors in their research, and the weight of each pillar may vary. The Analyst Rating scale is Gold, Silver, Bronze, Neutral, and Negative. A Morningstar Analyst Rating of Gold, Silver, or Bronze reflects the Manager Research Group’s conviction in a fund’s prospects for outperformance. Analyst Ratings ultimately reflect the Manager Research Group’s overall assessment, are overseen by an Analyst Rating Committee, and are continuously monitored and reevaluated at least every 14 months.
For more detailed information about Morningstar’s Analyst Rating, including its methodology, please go to global.morningstar.com/managerdisclosures/.The Morningstar Analyst Rating (i) should not be used as the sole basis in evaluating a fund, (ii) involves unknown risks and uncertainties which may cause Analyst expectations not to occur or to differ significantly from what they expected, and (iii) should not be considered an offer or solicitation to buy or sell the fund. ©2019 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar calculates a Morningstar Rating ™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structures. It may be based in part, on the performance of a predecessor fund. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. Alger Small Cap Focus Fund Z was rated 5, 5, and 5 Star(s) for the 3-, 5-, and 10-year periods among 588, 522, and 392 Small Growth funds as of 3/31/19. Rankings and ratings may be based in part on the performance of a predecessor fund or share class and are calculated by Morningstar using a performance calculation methodology that differs from that used by Fred Alger Management, Inc.’s. Differences in the methodologies may lead to variances in calculating total performance returns, in some cases this variance may be significant, thereby potentially affecting the rating/ranking of the Fund(s). When an expense waiver is in effect, it may have a material effect on the total return or yield, and therefore the rating/ranking for the period. Citywire Fund Manager Ratings and Citywire Rankings are proprietary to Citywire Financial Publishers Ltd (“Citywire”) and © Citywire 2019. All rights reserved. You may only use this material for your personal and non-commercial use. No part of this material may be copied, distributed, or adapted in any form or by any means without prior written consent. This includes but is not limited to all individual fund manager data such as rankings of fund managers and ratings of fund managers. Citywire does not accept any liability for your reliance upon, or any errors or omissions in, the Citywire Ratings or Citywire Rankings. Before investing, carefully consider the Fund’s investment objectives, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information about the Fund, call (800) 992-3863, visit www.alger.com, or consult your financial advisor. Read it carefully before investing.
Distributor: Fred Alger & Company, Incorporated. Member NYSE Euronext, SIPC. NOT FDIC INSURED. NOT BANK GUARANTEED MAY LOSE VALUE.
Made with FlippingBook flipbook maker