New York (PRWEB) May 26, 2010
Fred Alger Management, Inc. announced today that two additional clients have joined their growing Institutional client roster. They are: the Teamsters Pension Trust Fund of Philadelphia & Vicinity (“Philadelphia Teamsters”) which awarded Alger with an Alger Capital Appreciation strategy mandate and the Massachusetts Health Care Security Trust which selected the Alger SMid Cap Growth strategy. The portfolios will be managed by Patrick Kelly, CFA, Executive Vice President and Portfolio Manager, and Jill Greenwald, CFA, Executive Vice President and Portfolio Manager, respectively, along with the team of nearly 30 investment professionals at Alger. Alger’s Portfolio Managers and Analysts utilize its time-tested philosophy of investing in companies undergoing Positive Dynamic Change, which has been in place since Alger was founded over 45 years ago.
“We are excited to have won these two mandates and welcome the Philadelphia Teamsters and the Health Care Security Trust to Alger.” said Dan Chung, CEO. “We believe that these appointments are further indication of our growing recognition in the institutional marketplace and consultant community.”
Established in 1957, the Teamsters Pension Trust Fund of Philadelphia & Vicinity administers benefits for retirees in several states, primarily Pennsylvania, New Jersey and Delaware. The Fund ranks as one of the top 600 Pension Funds in the United States, with more than 10,500 active participants and benefit payments to more than 12,900 retirees and surviving spouses each month.
The Health Care Security Trust Board is the Massachusetts state government agency responsible for the investment management of the State Retiree Benefits Trust Fund, comprised of amounts set aside to meet the actuarial cost of providing post-employment health care benefits to state retirees.
Fred Alger Management, Inc. was founded in 1964 and currently manages more than $12 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 institutional investors through separate accounts and mutual funds and to retail investors through Alger mutual funds. Fred Alger & Company, Incorporated, a broker-dealer and the parent company of Fred Alger Management, Inc. offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit http://www.alger.com.