NEW YORK, March 18 /PRNewswire/ -- Fred Alger Management, Inc. has announced today that the Cambridge Retirement System has awarded Alger a $45 million Large Cap Growth mandate.  The portfolio will be managed by Patrick Kelly, CFA, Executive Vice President and Portfolio Manager, along with the team of nearly 30 investment professionals at Alger. Alger's Portfolio Managers and Analysts utilize its time-tested philosophy of investing in companies undergoing Positive Dynamic Change, which has been in place since Alger was founded over 45 years ago. "This is a great win for our organization and a testament to our continued dedication to the Public Funds market," said Paul Meskiewicz, Head of Public Funds Sales at Alger.

"We welcome the Cambridge Retirement System to our growing roster of institutional clients," said Dan Chung, CEO.  "This appointment further demonstrates our ongoing commitment to the institutional marketplace and consultant community."

Created in 1939, The Cambridge Retirement System is responsible for the administration of a $670 million defined benefit plan.  The System provides pension benefits to retired City of Cambridge, Cambridge Housing Authority, Cambridge Redevelopment Authority and Cambridge Health Alliance employees. "We look forward to a long and rewarding relationship with Alger," said Executive Director, Ellen Philbin.

About Alger: 

Fred Alger Management, Inc. was founded in 1964 and currently manages more than $12 billion. Alger's investment philosophy is focused on discovering companies undergoing Positive Dynamic Change, which we believe offer the best investment opportunities. Alger investment strategies are available to institutional investors through separate accounts and mutual funds and to retail investors through Alger mutual funds. Fred Alger & Company, Incorporated, a broker-dealer and the parent company of Fred Alger Management, Inc. offers mutual funds as well as institutional funds for defined benefit and defined contribution plans. For more information, please visit www.alger.com.

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SOURCE Fred Alger Management, Inc.

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