Cybersecurity to the Rescue​​​

​In the age of remote working, a cybersecurity program is more important than​ ever. Internet crime is one of the fastest growing security threats, providing a large and growing market for cybersecurity companies.​​​

  • In the three years prior to the pandemic, nearly 800 million sensitive records were exposed in the U.S., almost triple the number from a decade ago. However, the issue is even bigger now with remote workers accessing an increasing volume of sensitive material from multiple devices. The majority of companies surveyed by Cisco report a more than 25% increase in cyber threats since the pandemic. As a result, many companies plan to increase cybersecurity investment.

  • A cybersecurity program utilizes people, processes and technology to protect against risks. We believe the most promising solutions to protect critical data are those that leverage cloud computing to be scalable and agile. They can efficiently process massive amounts of data using machine learning and artificial intelligence, thus giving cybersecurity programs an edge.

  • The most successful security companies are those that offer a wide array of offerings by either developing their own products or acquiring other companies. The ability to consolidate several platforms with a single vendor is easier to manage, more cost effective and conducive to analyzing data.​

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The following position represented the noted percentage of assets managed by Fred Alger Management, LLC as of December 31, 2020: Cisco Systems, Inc., 0.0%.

The views expressed are the views of Fred Alger Management, LLC (“FAM”) and its affiliates as of April 2021. These views are subject to change at any time and may not represent the views of all portfolio management teams. These views should not be interpreted as a guarantee of the future performance of the markets, any security or any funds managed by FAM. These views are not meant to provide investment advice and should not be considered a recommendation to purchase or sell securities.

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Risk Disclosure: Investing in the stock market involves certain risks, including the potential loss of principal.​ Growth stocks may 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. Technology companies may be significantly affected by competition, innovation, regulation, and product obsolescence, and may be more volatile than the securities of other companies.​

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