Alger Selected by Diocese of Palm Beach

NEW YORK, Feb. 9 /PRNewswire/ -- Fred Alger Management, Inc. has announced today that the Diocese of Palm Beach has awarded Alger a 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 the time-tested philosophy of investing in companies undergoing Positive Dynamic Change, which has been in place since Alger was founded 45 years ago.

"We welcome the opportunity to serve the Diocese of Palm Beach as they join our roster of institutional clients," said Dan Chung, CEO.  "This appointment by the Diocese of Palm Beach further demonstrates our ongoing commitment to the institutional marketplace and consultant community."

The Diocese encompasses the five counties of Indian River, Okeechobee, St. Lucie, Martin and Palm Beach, consisting of 5,115 square miles with a population of nearly one and one half million people, seventeen percent of whom are Catholic. The Diocese of Palm Beach is one of the youngest of the seven Catholic dioceses in Florida, and is served by 111 Diocesan Priests, 11 Extern Priests, 145 Religious Sisters, 17 Seminarians, 30 Religious Priests, 5 Religious Brothers and 44 Permanent Deacons.  For more information, please click on www.diocesepb.org.

About Alger:

Fred Alger Management, Inc. was founded in 1964 and currently manages more than $11 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.

SOURCE Fred Alger Management, Inc.