Veteran Health Care Investor Teresa McRoberts Returns to Alger

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Teresa McRoberts has rejoined Alger as head of the health care team, Senior Vice President, Senior Analyst and Portfolio Manager of the Alger Health Sciences Fund. Teresa also joins other Alger Senior Analysts as Portfolio Manager of the Alger Mid Cap Growth strategies

I am extraordinarily pleased to announce that Teresa has returned to Alger.

Fred Alger Management, Inc. (“Alger”), a leading asset management firm, announced today that Teresa McRoberts has rejoined the firm as head of the health care team, Senior Vice President, Senior Analyst and Portfolio Manager of the Alger Health Sciences Fund. Teresa also joins other Alger Senior Analysts as Portfolio Manager of the Alger Mid Cap Growth strategies.

“I am extraordinarily pleased to announce that Teresa has returned to Alger,” said Dan Chung, Alger CEO and Chief Investment Officer.

With extensive experience in investment banking and corporate finance, Teresa began her career in investment management at Alger in 1994. As a health care analyst, Teresa learned and excelled at Alger's investment philosophy of investing in Positive Dynamic Change and the firm’s process of in-depth fundamental research.

Teresa eventually left Alger to pursue an opportunity to manage a healthcare sector fund in 1998. However, after September 11th, when Alger lost 35 colleagues including then-CEO David Alger, Teresa immediately offered to return to Alger.

"Teresa's return to Alger after 9/11, along with other Alger alumni, was instrumental to our ability to recover and rebuild," said Dan. Teresa rejoined Alger to lead the health care team, serve as a Senior Analyst, and ultimately to join Patrick Kelly as a Portfolio Manager for the Alger Spectra and Alger Capital Appreciation strategies. Teresa was the inaugural portfolio manager for the Alger Health Sciences Fund when it launched in 2002. During her tenure as portfolio manager, the Alger Health Sciences Fund performed with top quintile Morningstar rankings on a one- and three-year basis as of September 30, 2005.

“Towards the end of 2005, Teresa and I felt overwhelming pride in our success rebuilding Alger,” added Dan. “It was with my full support that she pursued her desire to manage investment strategies in a long/short environment, something Alger, at the time, did not offer.”

Subsequently, Teresa founded Bienville Health Science Partners, a long/short hedge fund. "Founding and managing my own firm and strategy has been a tremendously satisfying professional experience," said Teresa. "At this point in my career, I want to focus exclusively on what I truly am passionate about in our business: investing in healthcare stocks. I am confident that Alger is the perfect place to carry out that passion. I am extremely proud of Alger today, and look forward to working again with Dan, Jill Greenwald, and Patrick Kelly, along with everyone at Alger."

“Teresa is one of the most highly regarded health care analysts in the industry and one of Alger’s most illustrious alumni. I could not be happier she has rejoined Alger,” said Dan. “The breadth and depth of Teresa’s experience in long-only and long/short health care sector investing plus her background and knowledge in Alger’s research and investment process is a winning combination. Teresa is a star who started her investment management career at Alger, helped rebuild the firm after 9/11, and has now come back home to Alger for what I hope to be the best part of her career. I’m confident that her leadership will enable us to provide strong, long-term investment returns for our clients.”

Teresa has 33 years of investment experience, including health care portfolio management roles at Tribeca Global Management (Citigroup), Carlyle-Blue Wave Partners and Galleon Group. Teresa’s additional experience includes working as a portfolio manager and principal at Morgan Stanley, and analyst and corporate finance roles at JP Morgan. Teresa earned her B.A. from Oberlin College and her M.B.A. from Columbia University.

About Fred Alger Management, Inc.
Fred Alger Management, Inc. was founded in 1964 and as of December 31, 2014 managed more than $22.4 billion. Alger's investment philosophy is focused on uncovering companies undergoing Positive Dynamic Change, which we believe offer the best investment opportunities. Alger’s 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.

Before investing, carefully consider the Fund’s investment objective, risks, charges, and expenses. For a prospectus or summary prospectus, call (800) 992-3863, visit http://www.alger.com, or consult your financial advisor. Read it carefully before investing.

Morningstar percentile rankings are based on the total return percentile rank (excluding sales charge) within each Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. If sales charges were included, performance would be lower and the rank may be lower. Morningstar Rating is not to be confused with Morningstar Ranking, which is a numeric ranking of the fund, and is a distinct designation. Alger Health Sciences Fund, Class A's Morningstar Percentile Rank (Health Category, as of 9/30/05) was 1-year (8%, 10 of 117 funds); 3-years (13%, 15 of 116 funds). Alger Health Sciences Fund, Class A's Morningstar Percentile Rank (Health Category, as of 12/31/14) was 1-year (80%, 102 of 126 funds); 5-years (93%, 105 of 112 funds); 10-years (53%, 50 of 94 funds). Source: Morningstar. During certain of the referenced time periods, the Fund experienced periods of negative performance results. ©2014 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (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.

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