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Fred Alger Management CEO Dan Chung's AI confidence drives firm's assets past $47B, flagship fund ranks top 2% in 2024
Daniel Chung, CEO and CIO of Fred Alger Management, rebuilt the firm after 35 staffers died in the 9/11 attacks. Twenty-five years later, the firm's assets have grown to over $47 billion. Chung's confidence in the artificial intelligence trade has led the flagship Alger Spectra Fund (SPECX) to rank in the top 4% of its category last year and the top 2% in 2024, also placing in the top quartile on a three-, five-, and 10-year basis.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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