The termination of the sub-advisory agreement is the second for Alger since David Alger, CEO of the firm, and approximately 38 employees were killed in the attacks of Sept. 11. Last month,
Alger had managed 10% of the $45 million All America fund. That portion will be taken over by Mutual of America, according to the filing. The fund is also sub-advised by
Neither Mutual of America nor Alger could be reached for comment by press time.
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