Alger Focus Equity Fund (ALGRX) ranked #1 by WSJ!

The views expressed are the views of Fred Alger Management, LLC (“FAM”) and its affiliates as of January 2025. 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.

Risk Disclosures: Investing in the stock market involves 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. Investing in companies of small and medium capitalizations involves the risk that such issuers may have limited product lines or financial resources, lack management depth, or have limited liquidity. A significant portion of assets may be invested in securities of companies in related sectors, and may be similarly affected by economic, political, or market events and conditions and may be more vulnerable to unfavorable sector developments. Foreign securities involve special risks including currency fluctuations, inefficient trading, political and economic instability, and increased volatility. Leverage increases volatility in both up and down markets and its costs may exceed the returns of borrowed securities. Active trading may increase transaction costs, brokerage commissions, and taxes, which can lower the return on investment. At times, cash may be a larger position in the portfolio and may underperform relative to equity securities.

Alger Spectra Fund may engage in short sales. In order to engage in a short sale, the Fund arranges with a broker to borrow the security being sold short. In order to close out its short position, the Fund will replace the security by purchasing the security at the price prevailing at the time of replacement. The Fund will incur a loss if the price of the security sold short has increased since the time of the short sale and may experience a gain if the price has decreased since the short sale. The use of short sales could increase the Fund’s exposure to the market, magnifying losses and increasing volatility.

Alger pays compensation to third party marketers to sell various strategies to prospective investors.

Alger Focus Equity Fund (ALGRX), Alger Capital Appreciation Fund (ACAAX), Alger Capital Appreciation Institutional Fund (ALARX), Alger Capital Appreciation Portfolio (ALVOX), and Alger Spectra Fund (SPECX) were the 1st – 5th ranked actively managed U.S. Stock funds among 1,215 funds based on 12-month total returns as of 12/31/24 as ranked by the Wall Street Journal Winners’ Circle. To qualify: funds must be actively managed U.S.-stock mutual funds with more than $50 million in assets and a record of three years or more, as well as meet a handful of other criteria. The survey excludes index and sector funds, funds that employ leverage strategies and most quantitative funds. The results are calculated by Morningstar Direct. Alger did not pay a fee to be included in or to use the ranking. Before investing, carefully consider the Fund’s investment objective, risks, charges, and expenses. For a prospectus and summary prospectus containing this and other information or for the Fund’s most recent month-end performance data, visit www.alger.com, call (800) 992-3863 or consult your financial advisor. Read the prospectus and summary prospectus carefully before investing. Distributor: Fred Alger & Company, LLC. NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE.

Fred Alger Management, LLC 100 Pearl Street, New York, NY, 10004 / www.alger.com / 212.806.8800​