In a regulatory statement, this Wednesday, Alger Funds announced that its manager received a Wells notice from the Securities and Exchange Commission on Dec. 16, 2005 for investigations having to do with fund market timing and late trading, according to Wells notice allows individuals to come clean in regards to accusations, before the SEC formally brings charges forth.

Fred Alger & Co. Inc, the parent company and the distributor of the funds' mutual funds, has also been given a Wells notice.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.