The Alger Fund of Jersey City, N.J. has begun broadcasting faxes and e-mails every Monday morning to the 7,000 financial intermediaries who sell the fund. The e-mails and faxes notify them of the fund's latest estimates of its year-end capital gains and distributions.
Alger is sending out these notifications to maintain a solid relationship with those who sell the fund, said Jim Connelly, senior vice president of marketing for Alger, in a statement.
He said that he was unaware of any other funds that distribute capital gains and distributions information in this manner.
