Alger Management has launched its Alger Concentrated Equity fund in SICAV format, broadening its reach to investors in the UK, Europe and Asia.
The fund, managed by Dr Ankur Crawford, has a high-growth focus and invests in no more than 30 companies at any one time, which can span region, market cap and sector.
It follows the same investment strategy as the Alger Concentrated Equity ETF, which originally floated on the NYSE Arca in April 2024. As at the end of August, the strategy had $2.4bn in assets under management.
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Since inception, the ETF has returned 38%, compared to the S&P 500’s return of 19.8%, according to data from Alger.
The Alger Concentrated Equity SICAV will sit alongside the firm’s suite of UCITS strategies, which are also available to UK, European and Asian investors. The stable currently comprises seven products, including Alger American Asset Growth, Alger Focus Equity and Alger Emerging Markets.
Commenting on the launch, portfolio manager and executive vice president Crawford said: “Concentrated investing allows us to focus capital on the companies where we have the greatest conviction and where our research points to the strongest long-term growth potential.
“Our approach is grounded in deep fundamental research and a belief that periods of significant change can create compelling opportunities for active investors.
“By looking beyond the benchmark and focusing on businesses we believe are driving and benefitting from change, we aim to identify the companies we believe are best positioned to shape the next decade.”
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Dan Chung, CEO and chief investment officer at Alger, added the launch “marks another step in expanding Alger’s presence and product offerings outside the US.
“The fund reflects our continued commitment to providing international clients with access to Alger’s high-conviction growth investment capabilities.”