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Topic: Fred Alger Management

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In the News (Thu 20 Sep 18)

  CNN.com - Transcripts
David Alger, the firm's chief executive and 34 staff members were in their offices on the 93rd of One World Trade Center when American Airlines Flight 11 crashed into the building.
Fred Alger, retired from active management of the firm, was at his rented summer home just two hours away from the city when the terrorist attacks occurred.
F. ALGER: I was pursuing a dream that I have had since I was a young man, and it was an obligation I had to the employees of the company, as well as to the clients.
edition.cnn.com /TRANSCRIPTS/0201/12/pin.00.html   (3164 words)

 Fund manager David Alger missing - Sep. 12, 2001
Alger's office was on the 93rd floor of one of the twin towers destroyed in Tuesday's attacks.
Fred Alger, who retired last year as chairman of the firm, was resuming the post effective immediately, the company said.
Alger is also famous for training future industry stars, some of whom got their start at the firm's headquarters at the World Trade Center, including Helen Young Hayes of Janus, Tom Marsico of Marsico Capital Management, and Warren Lammert at Janus Mercury.
money.cnn.com /2001/09/12/mutualfunds/alger   (434 words)

 Alger - Pure Growth   (Site not responding. Last check: 2007-11-03)
November 10, 2005 -- Read why Alger believes that dynamic, innovative companies can and should continue to generate profits well in excess of expectations, and why traditional frameworks used by pundits, economists, and strategists to understand the economy are outmoded or incomplete.
After outperforming value stocks during the mid-90s, growth stocks stumbled in the wake of the tech-bubble crash and recession.
October 31, 2005 -- In recognition of three Alger Growth Funds' continuous ranking in the top quartile of their peer group by Lipper, Alger has launched an advertising campaign to appear in The Wall Street Journal, Barron's and other national publications.
public.alger.com /Algerpub/jsp/home.jsp   (145 words)

 Boston.com / Business / Spitzer Targets Fred Alger Employees   (Site not responding. Last check: 2007-11-03)
Alger is the latest in a string of companies to become embroiled in investigations into illegal mutual fund trading.
Fred Alger Management said it did not believe any of the trades affected fund performance, but it said it was hiring an independent auditor to assess whether shareholders were hurt.
While many clients shied away from Alger Management in the days after the attacks, and analysts issued sell ratings for the funds, many of the firm's alumni phoned Chung, Fred Alger's son-in-law, who was away on the morning of the attack, to say they would return.
www.boston.com /business/articles/2003/10/16/spitzer_targets_fred_alger_employees   (588 words)

 NYSE > Events >Fred Alger Management, Inc. Celebrates 40th Anniversary
Fred Alger Management, Inc. visits the NYSE to celebrate their 40th anniversary.
Fred Alger Management oversees investment portfolios for such entities as governments, corporate pensions, insurers, religious organizations, and Taft-Hartley plans.
Fred Alger Management was founded in 1964 by Fred Alger.
www.nyse.com /events/1107949894077.html   (114 words)

 Sargent & Lundy Savings Investment Plan   (Site not responding. Last check: 2007-11-03)
Alger Management was profoundly impacted by the events of September 11th, as their offices were located at 1 World Trade Center.
Fred Alger, Dan Chung, and Dave Hyun, along with a core nucleus of research analysts, will be responsible for the day-to-day management of all Alger Funds.
Alger is in the process of interviewing several candidates, including these alumni, to fill the vacancies that were created by these tragic events.
www.sargentlundy.com /sip/Archives/Alger.htm   (251 words)

 Ex-Fred Alger Exec Cops to Evidence Tampering
A former vice chairman at Fred Alger Management pleaded guilty Thursday to a charge of tampering with evidence in the fast-growing investigation in illegal trading activity between hedge and mutual funds.
A spokesman for Fred Alger, which lost many of its employees in the Sept. 11 terror attacks and had to rebuild, declined to comment, but noted the firm has been cooperating with the investigation.
Fred Alger officials suspended Connelly and the other employees shortly after receiving the subpoena.
www.thestreet.com /markets/matthewgoldstein/10119924.html   (518 words)

 Alger - Wikipedia, the free encyclopedia   (Site not responding. Last check: 2007-11-03)
Alger of Li├Ęge (1055-1131), a French Roman Catholic priest
David Alger (1943-2001), former head of Fred Alger Management
Fanny Alger, believed to be the first plural wife of Joseph Smith, Jr.
en.wikipedia.org /wiki/Alger   (120 words)

 A manager who hunts for growth stocks - May 5, 2000
Alger, 56, is one of Wall Street's best-known managers because of his knack of hunting down winning growing stocks.
He is chief executive of Fred Alger Management, an investment firm founded by his older brother, Fred, a prominent manager of the 60s, 70s and 80s.
While Alger is known as an art buff, and is a major donor to the Frick Museum not far from his New York home, he said he draws more parallels from his love of history.
money.cnn.com /2000/05/05/mutualfunds/q_funds_manager   (935 words)

 IN MEMORIAM - David Alger   (Site not responding. Last check: 2007-11-03)
Alger at Fred Alger Management in the 1980's and remained close.
Alger's lunch lessons was that big companies cannot possibly grow as fast as little ones, and that problems in a company, or a life, can never fully be solved in one three-month reporting period.
Alger, who was 57, took over operations at Alger Management from his brother, Frederick, in 1995.
www.inmemoriamonline.net /Profiles/Folders/A_Folder/Alger_David.html   (218 words)

 Alger - Pure Growth   (Site not responding. Last check: 2007-11-03)
At Fred Alger Management, Inc. we find pure growth companies through original, in-depth analysis by our seasoned research team.
For a company to be considered for purchase, our analysts need evidence that it has a strong management team, an ability to sustain growth and more potential for earnings growth than the overall market.
Fred Alger Management, Inc. All Mutual Funds are distributed through Fred Alger & Company, Incorporated.
public.alger.com /Algerpub/jsp/010102.jsp   (311 words)

 Business Wire: Alger Launches the China-US Growth Fund; Harvard's Joseph Nye Joins Board
Alger is partnering with and therefore has retained, as sub-advisor, JF International Management Inc., an asset manager in Hong Kong (now a subsidiary of JP Morgan Chase previously known as Jardine Fleming).
Daniel C. Chung, Fred Alger's President, Chief Investment Officer and one of the China-U.S. Growth Fund's lead managers, said "By partnering with JF International Management, this fund will invest in an opportunity - the growth of China's economy and all its implications - in a way that could not be captured by a geographic-based manager.
Founded in 1964, Fred Alger Management, Inc is a leading asset management firm employing a bottom-up approach in its attempt to identify the fastest growing companies in their respective sectors.
www.findarticles.com /p/articles/mi_m0EIN/is_2004_Jan_20/ai_112352528   (1057 words)

 Boston.com / Business / Fred Alger Says Has Banned Market Timing   (Site not responding. Last check: 2007-11-03)
Money manager Fred Alger Management Inc. said it has banned rapid trading in and out of its funds, a trading practice that regulators say most mutual funds are legally required to prohibit.
The SEC said that Alger, a New York-based firm with $10 billion in assets, had a market timing policy in one of its fund families, called the Alger Fund.
An Alger spokesman said the six-trade maximum and related trading policies have been put on hold while it comes up with a new policy to police its trading activity.
www.boston.com /business/articles/2003/10/17/fred_alger_says_has_banned_market_timing   (457 words)

 Barrack, Rodos and Bacine - New & Noteworthy - Mutual Fund Trading Litigation
The investigations of the mutual fund industry are far-reaching, and they involve allegations against mutual fund managers for improperly boosting the operating profits of their companies, trading in their own accounts, engaging in market timing transactions and late trading, and otherwise benefiting themselves to the detriment of mutual fund investors.
Millennium Partners and Fred Alger Management: The investigation into allegations made against Millennium Partners, a hedge fund firm, and Fred Alger Management Inc. mutual funds is particularly noteworthy because personnel from each firm have recently pleaded guilty to charges related to improper mutual fund transactions.
Alger allegedly allowed one such customer – a hedge fund – to time $50 million in one Alger fund in return for a $10 million buy-and-hold position in another Alger fund.
www.barrack.com /pages/new_noteworthy/mftlitigation.html   (1418 words)

 University of Michigan Alumni :: David Dewey Alger   (Site not responding. Last check: 2007-11-03)
Alger was the U-M Business School's 1997 commencement speaker, chaired its annual fund and was an active member of the school's Visiting Committee, comprised of senior level executives who provide counsel to the dean regarding the programmatic and administrative direction of the business school.
Alger was born on Dec. 15, 1943, in California but grew up in Grosse Pointe, Mich. He studied history at Harvard as an undergraduate prior to attending the University of Michigan.
He is survived by his wife, Josephine and his brother, Fred, who remains chairman of Fred Alger Management and will now return to serve as chief executive officer.
alumni.umich.edu /inmemoriam/davidalger.html   (278 words)

 Fred Alger Economist Comments on Bush Victory
Alger said it is planning to release a report next week on the issue of energy independence and how the Bush administration could set that process in motion.
Fred Alger Management, headquartered in New York, is a leading money manager.
Fred Alger & Company, Incorporated offers mutual funds, as well as institutional funds for defined benefit and defined contribution plans.
www.prnewswire.com /cgi-bin/stories.pl?ACCT=104&STORY=/www/story/11-04-2004/0002356130&EDATE=   (474 words)

 Bloomberg.com: Top Worldwide
Oct. 16 (Bloomberg) -- Fred Alger Management Inc.'s former vice chairman, James Connelly, pleaded guilty to a felony charge of tampering with evidence in an investigation of illegal mutual fund trading.
Fred Alger Management said it's cooperating with the probe by the SEC and Spitzer's office and said it has appointed former U.S. Attorney Zachary Carter, now a senior partner at Dorsey and Whitney, to review the firm's trading activities.
The investigation of Alger follows a two-year effort by the firm's founder, Fred Alger, to rebuild the company after losing 35 employees, including his brother and company President David Alger, in the Sept. 11 attack that leveled the World Trade Center in lower Manhattan.
quote.bloomberg.com /apps/news?pid=10000006&sid=a4Tm7UcHIebQ&refer=home   (1028 words)

 USATODAY.com - Survivors sacrifice to salvage firms as tribute   (Site not responding. Last check: 2007-11-03)
Most of Alger's 20 remaining employees would also have been in the north tower that morning if not for small miracles like a doctor's appointment, a vacation or a conference.
On Sept. 12, founder Fred Alger, who had been in semiretirement, sent out a press release stating that he was back in charge.
The firm's four senior portfolio managers are now backed up by 10 senior analysts, 10 researchers, an economist, six traders and, of course, founder Fred Alger.
www.usatoday.com /money/2002-09-10-bcov_x.htm   (2332 words)

 Bernstein, Liebhard & Lifshitz, LLP
Fred Alger Management Inc., The Alger Fund, and James P. Connelly Jr.
Plaintiff seeks to recover damages on behalf of all persons who purchased or otherwise acquired shares or other ownership units of one or more of the mutual funds in the Fred Algers family of funds during the Class Period.
If you purchased or otherwise acquired shares or other ownership units of one or more of the mutual funds in the Fred Algers family of funds during the Class Period, you may wish to join in the action to serve as lead plaintiff.
www.bernlieb.com /pressrelease_mutualfunds.php?casenumber=5   (668 words)

 Class Action Newsline
BALA CYNWYD, Pa., Dec. 16, 2003 (PRIMEZONE) -- Fred Alger Mutual Fund investors have twenty (20) days to move for lead plaintiff in a securities fraud class action recently brought against Fred Alger Management Inc., the Alger Fund, James Patrick Connelly Jr., the Fred Alger Funds, and Veras Investment Partners, LLP.
The Complaint alleges that during the Class Period the Fred Alger Funds and the other defendants engaged in illegal and improper trading practices, in concert with certain institutional traders, which caused financial injury to the shareholders of the Fred Alger Funds.
According to the Complaint, the Defendants surreptitiously permitted certain favored investors to illegally engage in "timing" of the Fred Alger Funds whereby these favored investors were permitted to conduct short-term, "in and out" trading of mutual fund shares, despite explicit restrictions on such activity in the Fred Alger Funds' prospectuses.
www.primezone.com /ca/news.html?d=49853   (406 words)

 Ex-Alger exec pleads guilty   (Site not responding. Last check: 2007-11-03)
JAMES P. CONNELLY JR., former vice chairman and chief mutual fund officer at Fred Alger & Co., pleaded to tampering with physical evidence, said New York Attorney General Eliot Spitzer and Stephen Cutler of the Securities and Exchange Commission.
Fred Alger Management along with Merrill Lynch & Co., Alliance Capital Management Holding LP, and Prudential Securities have suspended or fired nearly two dozen employees believed to have engaged in illegal late trading.
Canary Capital Management and its managers agreed to pay $30 million in restitution for profits generated from improper trading, plus a $10 million penalty to settle Spitzer’s allegations.
www.msnbc.com /news/980972.asp?0sl=-22   (495 words)

 Student Work - Reuters Forum Journal   (Site not responding. Last check: 2007-11-03)
In the chaotic hours after the terrorist attacks on the World Trade Center, those at Fred Alger Management who escaped the firm's 93rd floor office could only focus on the devastation.
Presciently, the company's founder Fred Alger had set up the backup two years earlier, with the 1993 bombing attack on the World Trade Center firmly in the back of his mind.
"Fred was concerned about possible terrorism action in the Wall Street area," says David Friedman, head of the company's information technology department.
www.jrn.columbia.edu /studentwork/reutersjournal/2002/poletz.asp?printerfriendly=yes   (1557 words)

 Forbes.com: NY prosecutor targets Fred Alger executive-source   (Site not responding. Last check: 2007-11-03)
James Connelly, who was recently suspended as Alger's Vice-Chairman, is expected to be charged for obstruction of justice, or enter into a plea agreement, as early as Thursday, the person said.
The 39-year-old company, which has $10 billion under management, has struggled to rebuild after losing 70 percent of its investment team when two hijacked airliners tore into the World Trade Center on Sept. 11, 2001.
Daniel Chung, Fred Alger Management's president and chief investment officer, said earlier this month that the firm told regulators a former client may have conducted inappropriate trading in the Alger Fund for a "limited period of time" in 2003.
www.forbes.com /markets/newswire/2003/10/16/rtr1111389.html   (611 words)

 White takes job with Fred Alger Management   (Site not responding. Last check: 2007-11-03)
"I am honored by Fred Alger's trust in inviting me into a senior leadership role in the firm he founded and, with his late brother David, built successfully over the last 40 years," White says.
Fred Alger says as the firm continues to expand, it is important to add senior management talent like White to its ranks.
Because of the work he did for Alger mutual funds and shareholders after Sept. 11, White was named one of the mutual fund industry's two trustees of the year in 2002.
www.umich.edu /~urecord/0203/Feb03_03/03.shtml   (577 words)

 February 7, 2003 - University of Michigan Business School
Alger is an investment company with a family of mutual funds and pension, endowment, and other funds under management.
David Alger, Meredith Whalen (a recent UMBS BBA graduate), Ted Adderley (the son of Terence Adderley, a business school graduate and member of the Visiting Committee) and 30 other members of the Alger firm died tragically in the terrorist attack of September 11, 2001.
Fred Alger returned to active leadership of the firm to rebuild its human capital, which he has done.
www.bus.umich.edu /AlumniCommunity/MichiganMail/Archive/07Feb03.htm   (8023 words)

 Business Wire: Fred Alger Management Hires Chief Compliance Officer
Fred Alger Management, Inc. today announced that Katherine P. Feld has joined the firm as Senior Vice President, Chief Compliance Officer and Counsel.
Feld joins Fred Alger after 19 years at OppenheimerFunds, Inc., where she held the position of Vice President and Senior Counsel.
Fred Alger Management, Inc. offers investment advisor services to separately managed, sub-advised and wrap accounts.
www.findarticles.com /p/articles/mi_m0EIN/is_2004_Feb_26/ai_113650500   (442 words)

 Buyside: The hard road of recovery: how one firm, Fred Alger Management, has survived the devastation of 9/11. ...   (Site not responding. Last check: 2007-11-03)
Fred Alger thought he had prepared for the worst.
After the 1993 bombing of the World Trade Center, he set up a satellite office in Morristown, N.J., assuring employees and clients alike that in the event of another catastrophe, Fred Alger Management, Inc. would be able to continue as usual.
David Alger, Fred Alger's brother and the cornerstone of the company, had the corner office on the 93rd floor of the north tower.
www.highbeam.com /library/doc0.asp?DOCID=1G1:98399736&refid=holomed_1   (240 words)

 Fred Alger Management, Inc. :: Alger Plans Advertising Campaign to Highlight Growth Funds' Performance
Through 9/30/05 and over the past three years, each of the equity growth funds mentioned in the ads were ranked in the top quartile of their peer group by Lipper, a nationally recognized organization that ranks the performance of mutual funds within a universe of funds that have similar investment objectives.
According to Lipper, for the 12-month period that ended on September 30, 2005, Alger's SmallCap Growth Fund was 4th out of 522 peer funds; Alger's MidCap Growth was 83rd out of 541 peer funds; and its LargeCap Growth was 25th out of 678 peer funds.
Fred Alger and Company, Incorporated offers mutual funds as well as institutional funds for defined benefit and defined contribution plans.
sev.prnewswire.com /advertising/20051031/NYM19031102005-1.html   (424 words)

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