Fred Alger Management has launched the Alger Dynamic Opportunities Fund, a mutual fund that will invest both long and short, similarly to the privately placed, institutional Alger Dynamic Return Fund.

The fund will seek long-term capital appreciation with an emphasis on risk-adjusted returns and lower volatility through both long and short equity positions. It will also have the liberty of investing in companies across a broad capitalization range.

“We believe this fund represents a great addition to our diversified growth equity lineup and will not only reflect Alger’s primary theme of finding companies undergoing positive dynamic change, but also enable us to capitalize on opportunities we believe are overvalued by taking short or contrary positions,” said Dan Chung, chief executive officer and chief investment officer of Fred Alger.

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