JERSEY CITY, N.J.--(BUSINESS WIRE)--SunAmerica Focused Alpha Growth Fund, Inc. (NYSE:FGF) and SunAmerica Focused Alpha Large-Cap Fund, Inc. (NYSE:FGI) (each a “Fund” and collectively, the “Funds”) announced today that Mr. Richard W. Grant has been appointed by the Board of Directors of each Fund to serve as a director and chairman, effective April 1, 2011. Mr. Grant is being appointed to fill the vacancy created by the retirement of Mr. Samuel M. Eisenstat, which became effective as of the close of business today. Mr. Eisenstat served as a director and chairman of each Fund since each Fund’s respective launch in 2005. In addition, Mr. Grant has been nominated to stand for election as a Class III director of each Fund at the 2011 annual shareholder meetings.
Mr. Grant was previously a partner at the law firm of Morgan Lewis & Bockius LLP and has more than 25 years of business and corporate governance experience serving as legal counsel to a number of registered investment companies and/or their independent directors/trustees, including to the independent directors of the Funds.
SunAmerica Focused Alpha Growth Fund is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide growth of capital. The Fund seeks to pursue this objective by employing a concentrated stock picking strategy in which the Fund, through subadvisers selected by SunAmerica Asset Management Corp. (“SunAmerica”), actively invests primarily in a small number of equity securities (i.e., common stocks) and to a lesser extent equity-related securities (i.e., preferred stocks, convertible securities, warrants and rights) primarily in the U.S. markets. Marsico Capital Management, LLC (“Marsico”) is the large-cap stock subadviser and BAMCO, Inc. (“BAMCO”) is the small- and mid-cap stock subadviser.
SunAmerica Focused Alpha Large-Cap Fund is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide growth of capital. The Fund seeks to pursue this objective by employing a concentrated stock picking strategy in which the Fund, through subadvisers selected by SunAmerica, actively invests primarily in a small number of equity securities (i.e., common stocks) and to a lesser extent equity-related securities (i.e., preferred stocks, convertible securities, warrants and rights) of large capitalization companies primarily in the U.S. markets. Marsico is the large-cap growth stock subadviser and BlackRock Investment Management, LLC (“BlackRock”) is the large-cap value stock subadviser.
For more information about the Funds, please visit www.sunamericafunds.com.
As of February 28, 2011, SunAmerica managed and/or administered approximately $45.2 billion of assets.
Marsico, BAMCO and Blackrock are not affiliated with SunAmerica.
Investors should carefully consider the each Fund’s investment objective, strategies, risks, charges and expenses before investing.
EACH FUND SHOULD BE CONSIDERED AS ONLY ONE ELEMENT OF A COMPLETE INVESTMENT PROGRAM. EACH FUND’S EQUITY EXPOSURE AND DERIVATIVE INVESTMENTS INVOLVE SPECIAL RISKS. AN INVESTMENT IN THIS FUND SHOULD BE CONSIDERED SPECULATIVE.
There is no assurance that the Funds will achieve their investment objectives. The Funds are actively managed and their portfolio composition will vary. Investing in a Fund is subject to several risks, including: Non-Diversified Status Risk, Growth and Value Stock Risk (FGI only), Key Adviser Personnel Risk, Investment and Market Risk, Issuer Risk, Foreign Securities Risk, Emerging Markets Risk, Income Risk, Hedging Strategy Risk, Short Sale Risk, Derivatives Risk, Preferred Securities Risk, Debt Securities Risk, Small and Medium Capitalization Company Risk (FGF only), Liquidity Risk, Market Price of Shares Risk, Management Risk, Anti-Takeover Provisions Risk, Portfolio Turnover Risk and Non-Investment Grade Securities Risk. The price of shares of each Fund traded on the New York Stock Exchange will fluctuate with market conditions and may be worth more or less than their original offering price. Shares of closed-end funds often trade at a discount to their net asset value, but may also trade at a premium.