Alger fund added to HFRX Global Hedge Fund Index
Alger Management's Alger SICAV – Alger Dynamic Opportunities Fund has been selected as a constituent in the HFRX Global Hedge Fund Index.
The Alger Dynamic Opportunities Fund is a long/short hedged equity fund that invests primarily in US-domiciled companies. It aims to provide investors with long term capital appreciation, downside protection, and lower volatility. Investors in the Fund have access to two premier growth equity managers—Fred Alger Management, LLC and Weatherbie Capital, LLC—that have a combined 25-plus years of hedged equity experience. The portfolio management team is led by Alger CEO and Chief Investment Officer Dan Chung, CFA.
The HFRX Global Hedge Fund Index is an asset-weighted investable benchmark designed to represent the overall composition of the hedge fund universe. The HFRX indices are industry leading benchmarks comprising actual hedge and alternative funds delivering the performance of the investment class to institutions since 2003. The HFRX indices are constructed by Hedge Fund Research, Inc (HFR), which uses a UCITSIII and IOSCO compliant methodology to construct its indices.
“We are pleased that HFR has added the Alger Dynamic Opportunities Fund to its Global Hedge Fund Investable Index. We believe it is a testament to our experience in managing long/short strategies, the Fund’s strong performance and attractive risk scores, and our unique approach to long and short investing across the market cap spectrum,” says Alger Executive Vice President and Chief Distribution Officer Jim Tambone.
Alger has provided asset management capabilities in the United Kingdom and Europe for over two decades and opened its London-based office in 2014. The firm currently manages $1.7 billion in assets for our international clients.
“HFR is pleased and excited to welcome Alger as a constituent of the HFRX Indices, the leading global benchmark of hedge fund performance. Alger’s rigorous investment process, dynamic performance and impressive institutional background are an ideal fit for inclusion in the preferred benchmark for leading global investors and managers,” says Ken Heinz, president of Hedge Fund Research, Inc.