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Alger in emerging market and long/short double fund launch

Alger in emerging market and long/short double fund launch

Fred Alger Management has launched two sub funds of  the Alger Sicav as it seeks to target customers outside of the US. 

The Emerging Markets fund is managed by Deborah Vélez Medenica, and will look to invest in equities in a broad array of countires in the region. Medenica has managed the existing $35 million Fred Alger Management Alger Emerging Markets strategy since inception in 2010 and has been an emerging markets portfolio manager since 1999. She will be assisted by a team of analysts looking for high conviction opportunities in emerging market companies.

Meanwhile, the companiy has also launched the Dynamic Opportunities fund, a long/short hedged equity fund that invests primarily in US-domiciled companies.

It is managed in a smiliar style as the Fred Alger Management's $90 million Alger Dynamic Return strategy, and is run by the same portfolio managers, Dan Chung, Patrick Kellyand Greg Adams, who are backed by a team of more than 30 global investment analysts.

'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,' Chung said.

Fred Alger Management is the investment adviser to Alger SICAV, and at the end of June managed more than $21.5 billion. Both sub-funds will be available to non-US from today.

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