Fred Alger, AmeriServ Unveil 'Worker Friendly' Fund

April 2, 2003 ( - A partnership between Fred Alger Management, Inc. and AmeriServ Trust and Financial Services Company is launching a new stock fund that will invest in companies that are worker friendly and socially responsible.

The primary objective of the Worker-Friendly Socially Responsible Investment Fund is long-term capital appreciation by focusing on companies of all market capitalization sizes that conduct their business in a socially responsible, union friendly manner, while demonstrating promising growth opportunities.  

The Worker-Friendly fund is now available thru AmeriServ Trust and Financial Services Company through its network of union organized pension plans, foundations, and education-based entities as well as its 401(k) platform of funds.    

Socially responsible and worker-friendly conduct generally extends to protection of the environment, fair labor practices, equal employment, the protection of consumers, and more generally, the quality of life, according to the fund launch announcement.