Fred Alger Management of New York has launched a print advertising campaign in business and investment publications that touts the performance of three of its flagship growth funds. The ads, slated to run through the end of the year, attribute the funds' stellar performance to the firm's 40-year-old foolproof investment philosophy of using a bottom-up approach to identify the fastest-growing companies in their respective sectors. Alger has $9 billion in assets under management.
The ads, which debuted last week in Barron's, USA Today and The Wall Street Journal, emphasize the one-, three- and five-year performance of the Alger LargeCap Growth Fund, the Alger MidCap Growth Fund and the Alger SmallCap Growth Fund. Without giving the funds' actual performance numbers but their relative peer rankings, instead, the ads note that in the 12 months through Sept. 30, as well as over the past three years, each of the growth funds performed in the top quartile of their peer group, according to Lipper of New York. In the five years ended through Sept. 30, the Alger LargeCap Growth Fund and the Alger MidCap Growth Fund both made the top quartile, but the Alger SmallCap Growth Fund ranked in the third quartile, the ads show.