Alger opens active growth equity funds to UK investors with GBP share class
Alger Management has made available four of its Alger SICAV sub-funds denominated in Great British Pounds for investors in the UK.
The Alger American Asset Growth Fund, Alger Weatherbie Specialized Growth Fund, Alger Emerging Markets Fund, and Alger Dynamic Opportunities Fund will be available in Class G shares, which are denominated in GBP, on 1 July 2020. All of Alger’s portfolios are supported by an analyst-driven investment process, which is built on original, bottom-up, fundamental research to find high-conviction ideas.
“Alger has provided asset management capabilities in the United Kingdom and Europe for over two decades and opened our London-based office in 2014,” says Jim Tambone, executive vice president and chief distribution officer at Alger. “We currently manage more than USD1.3 billion in assets for our international clients and we are happy to provide expanded investment options for our clients in the UK.”
The Alger American Asset Growth Fund primarily invests in US large cap stocks and is managed by Patrick Kelly, CFA, and Dr Ankur Crawford. The Alger Weatherbie Specialized Growth Fund primarily invests in US small and mid cap stocks. The sub-fund is managed by three experienced portfolio managers at Weatherbie Capital, including Matt Weatherbie, CFA, George Dai, PhD, and Josh Bennett, CFA.
The Alger Dynamic Opportunities Fund is a long/short hedged equity fund that invests primarily in US-domiciled companies. Investors can access two premier growth equity managers — Alger and Weatherbie Capital — through its multi-manager approach. The portfolio management team includes Alger CEO and chief investment officer Dan Chung, CFA.
Finally, the Alger Emerging Markets Fund is managed by Greg Jones, CFA, and Pragna Shere, CFA, and invests primarily in a focused portfolio of fewer than 50 growth equity securities across a broad array of emerging market countries.
“We continue to receive interest in our actively managed funds from UK investors, so we are pleased that we can now offer a GBP-denominated option,” says Robert Gourlay, SVP and head of European Sales for Alger. “We believe we are able to better serve our investor clients in the UK with this new share class offering.”
Alger SICAV, a Luxembourg UCITS vehicle, makes the funds available to non-US investors in US dollar, euro, and Great British Pounds-denominated classes.