Alger Licenses Precidian’s ActiveShares® Exchange-Traded Fund Structure

CONTACTS: Prosek

Alger

Sheila Kulik 203-475-2523

Scott A. Anderson 212-806-2972

FOR IMMEDIATE RELEASE

Alger Licenses Precidian’s ActiveShares® Exchange-Traded Fund Structure

NEW YORK, October 15, 2019 – Fred Alger Management, LLC (“Alger”) is pleased to announce that it has entered into an agreement with Precidian Investments, LLC (“Precidian”) to license ActiveShares®, its proprietary, actively managed exchanged-traded fund (ETF) structure.

The Precidian model enables Alger to deliver actively managed investment strategies in an ETF vehicle without disclosing holdings on a daily basis.

“For more than 50 years, our clients have benefitted from our investment team’s ability to identify innovative companies disrupting the status quo. We believe Precidian is a disruptor within the asset management industry and we look forward to serving the needs of our clients who prefer an ETF structure for their allocation models,” said Jim Tambone, Chief Distribution Officer at Alger.

Alger anticipates introducing ActiveShares® in 2020.

“We believe our growth equity strategies are uniquely suited to an ActiveShares® structure. The ability to shield the underlying holdings is of utmost importance given our investment team’s emphasis on original, bottom-up research,” added Jim. “We are proud to welcome Alger to our expanding list of partners creating actively managed, semi-transparent ETFs,” said Precidian’s Founding Principal, Mark Criscitello. “Precidian’s ActiveShares® structure enables Alger to protect its investment team’s fundamental, bottom-up research while also providing its clients with expanded vehicle options.” About Alger Founded in 1964, Alger is widely recognized as a pioneer of growth-style investment management. Headquartered in New York City with affiliate offices in Boston and London, Alger provides U.S. and non-U.S. institutional investors and financial advisors access to a suite of growth equity separate accounts, mutual funds, and privately offered investment vehicles. The firm’s investment philosophy, discovering companies undergoing Positive Dynamic Change, has been in place for over 50 years. Weatherbie Capital, LLC, a Boston-based investment adviser specializing in small and mid-cap growth equity investing is a wholly-owned subsidiary of Alger. For more information, please visit www.alger.com.

About Precidian Investments Precidian Investments is an industry leader in the creation of innovative financial products, specializing in exchange-traded fund (ETF) and mutual fund development, and associated trading and pricing technologies. Precidian designs diversified client base and develops next-generation tools for the mutual fund industry, ETF providers and leading financial services institutions to meet the needs of today’s more sophisticated investors. Expertise in product development, trading, clearance, sales, technology, and securities law enables Precidian to more efficiently design and build cutting-edge financial instruments. Risk Disclosures : Investing in the stock market involves certain risks, and may not be suitable for all investors. Growth stocks tend to be more volatile than other stocks as their prices tend to be higher in relation to their companies’ earnings and may be more sensitive to market, political, and economic developments.

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