Ankur Crawford Joins Patrick Kelly as Portfolio Manager on Alger Capital Appreciation and Spectra Strategies
New York, NY (PRWEB) May 29, 2015 -- 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 the Alger Capital Appreciation, Alger Capital Appreciation Focus, and Alger Spectra strategies. Additionally, Patrick was named Head of Alger Capital Appreciation and Spectra Strategies.
The Alger Capital Appreciation and Alger Spectra strategies recently celebrated 10 years of strong performance under Patrick’s stewardship, and Morningstar recognized the Alger Spectra Fund as the #1 Large Growth Fund over the past 10 years (1 out of 915 Large Growth Funds as of March 31, 2015).
“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 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. 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 50th 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 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. Source: Morningstar.
Scott A. Anderson, Alger, http://www.alger.com, +1 (212) 806-2972, [email protected]
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