Fred Alger Management has turned 40, and company officials celebrated by ringing the closing bell at 4 p.m. at the New York Stock Exchange Wednesday. Fred Alger himself is 70 and, although chairman and CEO, leaves day-to-day management to Daniel C. Chung, president and chief investment officer.

"Today is a very special day for Alger," Chung said. "While we are ever mindful of our colleagues, including Fred's brother David, who perished in the World Trade Center on 9/11, we are thankful for 40 great years and look to the future with confidence."

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