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Fred Alger Management Announces Castle Convertible Fund, Inc. Reorganization Date
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NEW YORK, Oct. 24 /PRNewswire-FirstCall/ -- Castle Convertible Fund, Inc.(Amex: CVF) today announced approval by the fund's shareholders of the plan toreorganize the closed-end fund into a newly formed open-end mutual fund thatpursues the same investment objectives. The new offering will be a series ofThe Alger Funds, also managed by Fred Alger Management, Inc., and will benamed "Alger Convertible Fund." The reorganization is expected to becompleted on or about January 9, 2009. The fund currently has assets ofapproximately $33 million.
About Fred Alger Management, Inc.
Founded in 1964, Fred Alger Management, Inc. is a leading asset managementfirm managing more than $9 billion. Alger employs a bottom-up approach in itsattempt to identify the fastest-growing companies in their respective sectors.For more than 40 years, Alger has followed a rigorous process, a consistentapproach, and a core philosophy: find dynamic, innovative companies creatingchange and invest in them. Alger offers investment advisory services toseparately managed, sub-advised, and wrap accounts. Fred Alger & Company,Incorporated offers mutual funds as well as institutional funds for definedbenefit and defined contribution plans. For more information, please visitwww.alger.com.
Before investing, carefully consider the fund's investment objective,risks, charges, and expenses. For information about Castle Convertible FundInc. visit www.alger.com, or contact your financial adviser.
Distributor: Fred Alger & Company, Incorporated. Member NYSE, SIPC. NOTFDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE.
SOURCE Fred Alger
Founded in 1964, Fred Alger Management, Inc. is a leading asset managementfirm managing more than $9 billion. Alger employs a bottom-up approach in itsattempt to identify the fastest-growing companies in their respective sectors.For more than 40 years, Alger has followed a rigorous process, a consistentapproach, and a core philosophy: find dynamic, innovative companies creatingchange and invest in them. Alger offers investment advisory services toseparately managed, sub-advised, and wrap accounts. Fred Alger & Company,Incorporated offers mutual funds as well as institutional funds for definedbenefit and defined contribution plans. For more information, please visitwww.alger.com.
Before investing, carefully consider the fund's investment objective,risks, charges, and expenses. For information about Castle Convertible FundInc. visit www.alger.com, or contact your financial adviser.
Distributor: Fred Alger & Company, Incorporated. Member NYSE, SIPC. NOTFDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE.
SOURCE Fred Alger
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