Fred Alger Management, Inc., a leading asset management firm, announced today that
Ankur Crawford, PhD, is joining Patrick Kelly, CFA as Portfolio Manager on Alger SICAV – The Alger American Asset Growth Fund. Additionally, Kelly has been named Head of Alger Capital Appreciation and Spectra Strategies.
Alger SICAV – The Alger American Asset Growth Fund celebrated 10 years of strong performance under Patrick's stewardship last year. Patrick has served as Portfolio Manager for the Fund since 2004, and has nearly 20 years of investment experience. Additionally, the Fund has received numerous Lipper Fund Awards over the years, including six Lipper Fund Awards 2015 for Best Equity U.S. Fund over 10 Years.
"Ankur has been an integral member of Alger's investment team for over a decade and I congratulate her on this new role," says 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," says Patrick Kelly, CFA, Executive Vice President. "The past 10 years in which I have been a portfolio manager on Alger SICAV – The Alger American Asset Growth Fund and 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, including Alger SICAV – The Alger American Asset Growth Fund. 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," says 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."