In the wake of last Tuesdays World Trade Center tragedy, American Skandia today named Massachusetts Financial Services interim manager of the Skandia products that were managed by Fred Alger Management. MFS will act as interim co-portfolio manager for the Alger All-Cap Growth portfolios offered through American Skandias Trust and Advisor Fund products.
MFS will step in as an interim manager until American Skandia can complete a review of Alger Managements capabilities following the attack. David Alger, president of Alger Management, and Selai Khoo both managed the All-Cap Growth portfolios. Both executives are missing.