The Alger Emerging Markets Fund and Alger Dynamic Opportunities Fund will be managed by the company’s long-standing investment team, using the company’s highly research driven investment approach.
Essentially mirrors of existing products available to US investors, the funds are part of a strategy to expand the 50-year old firm’s footprint outside of the US.
In June, Kirk Hotte, formerly head of Old Mutual Global Investor’s London-based European distribution team, joined the company to manage its newly established London office.
The Alger SICAV – Alger Emerging Markets Fund is managed by Deborah Vélez Medenica, CFA of Fred Alger Management, (the investment adviser to Alger SICAV – the new Luxembourg company), invests in equities across a broad array of emerging market countries. Medenica has managed Fred Alger Management’s Alger Emerging Markets strategy since its inception in 2010 and has been an emerging markets portfolio manager since 1999.
Meanwhile, the Alger SICAV – Alger Dynamic Opportunities Fund is a long/short hedged equity fund that invests primarily in US-domiciled companies. The sub-fund is managed in a similar style and by the same portfolio managers, Dan Chung, Patrick Kelly and Greg Adams, as Fred Alger Management’s Alger Dynamic Return strategy, which currently has more than $90m in assets and has been offered since 2008.
“These two new sub-funds enable the Alger SICAV to offer an even broader array of investment solutions to investors seeking to diversify their equity exposure across a variety of strategies. We continue to expand our footprint by launching these sub-funds, which we believe will have strong appeal,” said Chung.
Both funds offer a minimum investment of $1,000 for retail investors, with an annual management fee of 1.75%. An institutional share class is also available, with a minimum investment of $3m and an annual management charge of 0.85%.
