ALGER GROWTH & INCOME FUND
Growth
Income
Kings of Cash Flow
have strong potential to generate
capital appreciation for the Fund and
have the ability to return significant
amounts of their cash to investors
as a result of their free cash flow.
Kings of Cash Flow
Dividend Growers
Dividend Growers
have a history of strong and consistent
dividend growth.
Dividend Leaders
Dividend Leaders
generate high dividend yields.
Click on the pulsating icons to learn more.
We use a three-pronged approach to classify companies as Dividend Leaders, Dividend Growers, and Kings of Cash Flow. These three components work in harmony to provide investors with both growth and income in the Alger Growth & Income Fund.
WHAT ARE THE BUILDING BLOCKS of the ALGER GROWTH & INCOME FUND?
Fred Alger & Company, LLC 100 Pearl Street, New York, NY 10004 / 212.806.8800 / www.alger.com
Performance shown is net of fees and expenses.
Fred Alger Management, LLC has contractually agreed to waive and/or reimburse Fund expenses (excluding custody fees, acquired fund fees and expenses, interest, taxes, brokerage expenses, fees in connection with the ReFlow Fund, LLC liquidity program, extraordinary expenses, and certain proxy expenses, to the extent applicable, but including dividend expense on short sales and net borrowing costs) through October 31, 2026 to the extent necessary to limit the other expenses and any other applicable share class-specific expenses of Class A to 0.80% and Class Z to 0.55% of the class’s average daily net assets. This expense reimbursement may only be amended or terminated prior to its expiration date by agreement between Fred Alger Management, LLC and the Fund’s Board of Trustees, and will terminate automatically in the event of termination of the Investment Advisory Agreement. Fred Alger Management, LLC may recoup any fees waived or expenses reimbursed pursuant to the contract; however, the Fund will only make repayments to Fred Alger Management, LLC if such repayment does not cause the Fund’s expense ratio after the repayment is taken into account, to exceed both (i) the expense cap in place at the time such amounts were waived or reimbursed, and (ii) the Fund’s current expense cap. Such recoupment is limited to two years from the date the amount is initially waived or reimbursed.
Only periods greater than 12 months are annualized.
The performance data quoted represents past performance, which is not an indication or a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance figures assume all distributions are reinvested. Returns with sales charges reflect a maximum front end sales charge on Class A Shares of 5.25%. Class A shares may be subject to a maximum deferred sales charge of 1.00%. For performance current to the most recent month end, visit www.alger.com or call 800.992.3863.
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. 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. Options and Short sales could increase market exposure, magnifying losses and increasing volatility. Assets may be invested in Financial Derivatives Instruments (FDIs) such as Total Return Swaps (TRS) or options, which involve risks including possible counterparty default, illiquidity, and the risk of losses greater than if they had not been used. Issuers of convertible securities may be more sensitive to economic changes. Investing in companies of small capitalizations involve the risk that such issuers may have limited product lines or financial resources, lack management depth, or have limited liquidity. Leverage increases volatility in both up and down markets and its costs may exceed the returns of borrowed securities. Foreign securities involve special risks including currency fluctuations, inefficient trading, political and economic instability, and increased volatility. 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.
Short selling (or “selling short”) is a technique used by investors who try to profit from the falling price of a stock. It is the act of borrowing a security from a broker and selling it, with the understanding that it must later be bought back and returned to the broker. In order to engage in a short sale, an arrangement is made with a broker to borrow the security being sold short. In order to close out its short position, the security will be replaced by purchasing the security at the price prevailing at the time of replacement. A loss will be incurred 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.
This material is not meant to provide investment advice and should not be considered a recommendation to purchase or sell securities.
Diversification does not assure a profit or protect against loss.
S&P 500®: An index of large company stocks considered to be representative of the U.S. stock market. S&P 500 Index performance does not reflect deductions for fees or expenses. The HFRI Equity Hedge (Total) Index publishes equally weighted monthly performance based on a number of hedge funds reporting to create a composite, net of fees. The constituents in the Index may change without notice. This index therefore, may have possibly lower risk, and differ in asset allocation, portfolio structure, and security holdings. Unlike asset-weighting, the equal-weighting of the index presents a more general picture of performance of the hedge fund industry. Any bias towards the larger funds potentially created by alternative weightings is greatly reduced, especially for strategies that encompass a small number of funds. The HFRI Equity Hedge (Total) Index returns are as of the date shown based on the initial provided information. These returns are subject to change as updated information becomes available. Please visit www.alger.com for the most recently received return information. Performance data for the HFRI Equity Hedge (Total) Index is only available on a month-end basis. As a result, since inception performance data for the index is as of the month end prior to the Fund’s inception date if the Fund’s inception date is on or prior to the 15th or is as of the Fund’s inception month end if the Fund’s inception date is after the 15th of the month. Investors cannot invest directly in any index. Index performance does not reflect deductions for taxes. The performance data quoted represents past performance, which is not an indication or a guarantee of future results.
The S&P indexes are a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Fred Alger Management, LLC and its affiliates. Copyright 2026 S&P Dow Jones Indices LLC, a subsidiary of S&P Global Inc. and/ or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.
The Morningstar Long-Short Equity Category includes open-end funds that hold sizable stakes in both long and short positions in equities and related derivatives.
©2026 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Morningstar percentile rankings are based on the total return percentile rank that includes reinvested dividends and capital gains(excluding sales charge) within each Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. If sales charges were included, performance would be lower and the rank may be lower. Rankings and ratings may be based, in part, on the performance of a predecessor fund or share class and are calculated by Morningstar using a performance calculation methodology that differs from that used by Fred Alger Management, LLC’s. Differences in the methodologies may lead to variances in calculating total performance returns, in some cases this variance may be significant, thereby potentially affecting the rating/ranking of the Fund(s). When an expense waiver is in effect, it may have a material effect on the total return or yield, and therefore the ranking and/or rating for the period.
Before investing, carefully consider the Fund’s investment objectives, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information about the Fund, call (800) 992-3863, visit www.alger.com, or consult your financial advisor. Read it carefully before investing. Distributor: Fred Alger & Company, LLC. NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE.
FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION.
To download a flyer that provides more information about the Fund, please fill out the form below.
Explore the Potential Benefits of the Fund
SPEDX
ADOZX
Class A
Class Z
Ticker Symbols
GET STARTED
Who Is Behind Our Best Ideas?
The Alger Dynamic Opportunities Fund provides access to a diversified portfolio of Alger's best growth ideas with potentially dampened volatility. This is achieved through a lower net exposure to the overall equity markets paired with a short portfolio of high conviction, individual names. In most periods where the S&P 500 has generated negative performance greater than -5%, the Fund has delivered dampened losses.
Performance and characteristics are presented the for Alger Dynamic Opportunities Fund (Class A Shares). *Data is based on Class A shares and is net of fees and expenses. The above demonstrates the Fund’s performance in each period when the S&P 500 had a peak to trough drawdown (using monthly data) of -5% or more. Past performance is not an indication nor a guarantee of future results.
Benefit From Investing in Alger’s Long/Short Approach
ALGER
GROWTH & INCOME
FUND
Growth
Income
Kings
of
Cash Flow
Kings of Cash Flow
have strong potential
to generate capital appreciation for the
Fund and have the
ability to return
significant amounts of
their cash to investors
as a result of their
free cash flow.
Dividend
Growers
Dividend Growers
have a history of strong
and consistent
dividend growth.
Dividend
Leaders
Dividend Leaders
generate high
dividend yields.
Click on the pulsating icons to learn more.
We use a three-pronged approach to classify companies as Dividend Leaders, Dividend Growers, and Kings of Cash Flow. These three components work in harmony to provide investors with both growth and income in the Alger Growth & Income Fund.
BUILDING BLOCKS of the ALGER GROWTH & INCOME FUND
Morningstar, a leading provider of independent investment insights, has recognized the Alger Dynamic Opportunities Fund's strong, long-term performance.
GET STARTED
Class Z, among 166 Long-Short Equity
fund, based on risk adjusted returns,
as of 6/30/23.
OVERALL
MORNINGSTAR RATING
We enable investors to access the full spectrum of the proprietary research of our analysts, who identify the ‘Dynamic Change’ companies that may be future winners and losers.
”
“
DAN CHUNG, CFA
HIGH CONVICTION, LONG/SHORT APPROACH
Exploring the Appeal of Alger Dynamic Opportunities Fund
Explore Benefits
Contact Us
Newsroom
Insights
Strategies
About Alger
Fred Alger & Company, LLC 100 Pearl Street, New York, NY 10004 / 212.806.8800 / www.alger.com
Performance shown is net of fees and expenses.
Fred Alger Management, LLC has contractually agreed to waive and/or reimburse Fund expenses (excluding custody fees, acquired fund fees and expenses, interest, taxes, brokerage and extraordinary expenses, to the extent applicable) through October 31, 2025 to the extent necessary to limit the other expenses and any other applicable share class-specific expenses of Class A to 0.80% and Class Z to 0.55% of the class’s average daily net assets. This expense reimbursement may only be amended or terminated prior to its expiration date by agreement between Fred Alger Management, LLC and the Fund’s Board of Trustees, and will terminate automatically in the event of termination of the Investment Advisory Agreement. Fred Alger Management, LLC may recoup any fees waived or expenses reimbursed pursuant to the contract; however, the Fund will only make repayments to Fred Alger Management, LLC if such repayment does not cause the Fund’s expense ratio after the repayment is taken into account, to exceed both (i) the expense cap in place at the time such amounts were waived or reimbursed, and (ii) the Fund’s current expense cap. Such recoupment is limited to two years from the date the amount is initially waived or reimbursed.
Only periods greater than 12 months are annualized.
The performance data quoted represents past performance, which is not an indication or a guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Performance figures assume all distributions are reinvested. Returns with sales charges reflect a maximum front end sales charge on Class A Shares of 5.25%. Class A shares may be subject to a maximum deferred sales charge of 1.00%. For performance current to the most recent month end, visit www.alger.com or call 800.992.3863.
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. 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. Options and Short sales could increase market exposure, magnifying losses and increasing volatility. Assets may be invested in Financial Derivatives Instruments (FDIs) such as Total Return Swaps (TRS) or options, which involve risks including possible counterparty default, illiquidity, and the risk of losses greater than if they had not been used. Issuers of convertible securities may be more sensitive to economic changes. Investing in companies of small capitalizations involve the risk that such issuers may have limited product lines or financial resources, lack management depth, or have limited liquidity. Leverage increases volatility in both up and down markets and its costs may exceed the returns of borrowed securities. Foreign securities involve special risks including currency fluctuations, inefficient trading, political and economic instability, and increased volatility. 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.
Short selling (or “selling short”) is a technique used by investors who try to profit from the falling price of a stock. It is the act of borrowing a security from a broker and selling it, with the understanding that it must later be bought back and returned to the broker. In order to engage in a short sale, an arrangement is made with a broker to borrow the security being sold short. In order to close out its short position, the security will be replaced by purchasing the security at the price prevailing at the time of replacement. A loss will be incurred 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.
This material is not meant to provide investment advice and should not be considered a recommendation to purchase or sell securities.
Diversification does not assure a profit or protect against loss.
S&P 500®: An index of large company stocks considered to be representative of the U.S. stock market. S&P 500 Index performance does not reflect deductions for fees or expenses. The HFRI Equity Hedge (Total) Index publishes equally weighted monthly performance based on a number of hedge funds reporting to create a composite, net of fees. The constituents in the Index may change without notice. This index therefore, may have possibly lower risk, and differ in asset allocation, portfolio structure, and security holdings. Unlike asset-weighting, the equal-weighting of the index presents a more general picture of performance of the hedge fund industry. Any bias towards the larger funds potentially created by alternative weightings is greatly reduced, especially for strategies that encompass a small number of funds. The HFRI Equity Hedge (Total) Index returns are as of the date shown based on the initial provided information. These returns are subject to change as updated information becomes available. Please visit www.alger.com for the most recently received return information. Performance data for the HFRI Equity Hedge (Total) Index is only available on a month-end basis. As a result, since inception performance data for the index is as of the month end prior to the Fund’s inception date if the Fund’s inception date is on or prior to the 15th or is as of the Fund’s inception month end if the Fund’s inception date is after the 15th of the month. Investors cannot invest directly in any index. Index performance does not reflect deductions for taxes. The performance data quoted represents past performance, which is not an indication or a guarantee of future results.
The S&P indexes are a product of S&P Dow Jones Indices LLC and/or its affiliates and has been licensed for use by Fred Alger Management, LLC and its affiliates. Copyright 2025 S&P Dow Jones Indices LLC, a subsidiary of S&P Global Inc. and/ or its affiliates. All rights reserved. Redistribution or reproduction in whole or in part are prohibited without written permission of S&P Dow Jones Indices LLC. S&P® is a registered trademark of Standard & Poor’s Financial Services LLC and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC. Neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors make any representation or warranty, express or implied, as to the ability of any index to accurately represent the asset class or market sector that it purports to represent and neither S&P Dow Jones Indices LLC, Dow Jones Trademark Holdings LLC, their affiliates nor their third party licensors shall have any liability for any errors, omissions, or interruptions of any index or the data included therein.
The Morningstar Long-Short Equity Category includes open-end funds that hold sizable stakes in both long and short positions in equities and related derivatives.
©2025 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating may differ among share classes of a mutual fund as a result of different sales loads and/or expense structures. It may be based in part, on the performance of a predecessor fund. The Morningstar Rating does not include any adjustment for sales loads.The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.
Alger Dynamic Opportunities Fund A was rated 3, 4, and 4 Star(s) for the 3-, 5-, and 10- year periods among 102, 91, and 56 Long-Short Equity funds as of 12/31/24.
A subscription fee is paid to Morningstar to access research, ratings, rankings and other investment tools.
Morningstar percentile rankings are based on the total return percentile rank that includes reinvested dividends and capital gains(excluding sales charge) within each Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. If sales charges were included, performance would be lower and the rank may be lower. Rankings and ratings may be based, in part, on the performance of a predecessor fund or share class and are calculated by Morningstar using a performance calculation methodology that differs from that used by Fred Alger Management, LLC’s. Differences in the methodologies may lead to variances in calculating total performance returns, in some cases this variance may be significant, thereby potentially affecting the rating/ranking of the Fund(s). When an expense waiver is in effect, it may have a material effect on the total return or yield, and therefore the ranking and/or rating for the period.
Before investing, carefully consider the Fund’s investment objectives, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information about the Fund, call (800) 992-3863, visit www.alger.com, or consult your financial advisor. Read it carefully before investing. Distributor: Fred Alger & Company, LLC. NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE.
FOR FINANCIAL PROFESSIONAL USE ONLY. NOT FOR PUBLIC DISTRIBUTION.
To download a flyer that provides more information about the Fund, please fill out the form below.
Explore the Potential Benefits of the Fund
SPEDX
ADOZX
Class A
Class Z
Ticker Symbols
GET STARTED
We enable investors to access the full spectrum of the proprietary research of our analysts, who identify the ‘Dynamic Change’ companies that may be future winners and losers.
”
“
DAN CHUNG, CFA
Who Is Behind Our Best Ideas?
Senior Vice President
Portfolio Manager
Senior Analyst
Dan Brazeau, CFA
Director of Research
Portfolio Manager
Senior Analyst
Josh Bennett, CFA
Chief Investment Officer
Portfolio Manager
Senior Analyst
Weatherbie Capital, LLC
H. George DaI, Ph.D.
Senior Vice President
Portfolio Manager
Director of Quantitative &
Risk Management
Greg Adams, CFA
Chief Executive Officer
Chief Investment Officer
PORtfolio Manager
DAN CHUNG, CFA
Performance and characteristics are presented the for Alger Dynamic Opportunities Fund (Class A Shares). *Data is based on Class A shares and is net of fees and expenses. The above demonstrates the Fund’s performance in each period when the S&P 500 had a peak to trough drawdown (using monthly data) of -5% or more. Past performance is not an indication nor a guarantee of future results.
The Alger Dynamic Opportunities Fund provides access to a diversified portfolio of Alger's best growth ideas with potentially dampened volatility. This is achieved through a lower net exposure to the overall equity markets paired with a short portfolio of high conviction, individual names. In most periods where the S&P 500 has generated negative performance greater than -5%, the Fund has delivered dampened losses.
Benefit From Investing in Alger’s Long/Short Approach
HIGH CONVICTION, LONG/SHORT APPROACH
Exploring the Appeal of Alger Dynamic Opportunities Fund
Explore Benefits
Contact Us
News
Insights
Strategies
About Alger
Chief Executive Officer
Chief Investment Officer
PORtfolio Manager
DAN CHUNG, CFA
Senior Vice President
Portfolio Manager
Director of Quantitative &
Risk Management
Greg Adams, CFA
Chief Investment Officer
Portfolio Manager
Senior Analyst
Weatherbie Capital, LLC
H. George DaI, Ph.D.
Director of Research Portfolio Manager
Senior Analyst
Weatherbie Capital, LLC
Josh Bennett, CFA
Senior Vice President
Portfolio Manager
Senior Analyst
Weatherbie Capital, LLC
Dan Brazeau, CFA
Senior Vice President
Portfolio Manager
Senior Analyst
GEORGE ORTEGA, CFA
Since Inception
10 Years
5 Years
3 Years
1 Year
Ticker
SPEDX
Class A (Incepted 11/02/2009)
S&P 500 Index
Class A
Class Z
HFRI Equity Hedge (Total) Index
Class Z (Incepted 12/29/10)
Morningstar Category Average
(Long/Short Equity)
Total Annual Fund Operating Expenses by Class
(Prospectus Dated 2/28/2025, unless otherwise amended)
Without Waiver:
With Waiver:
Morningstar Percentile Rank
(Long/Short Equity)
Based on Total Returns
Without Sales Charge
With Sales Charge
6.23 0.64
65% 66/94
63% 63/94
6.56
10.08
17.88
17.34
10.85
8.88
56% 46/81
53% 43/81
11.19
12.90
23.01
13.49
4.03 2.92
81% 63/77
85% 67/77
4.34
9.65
14.42
7.97
8.71 8.13
33% 15/53
22% 11/53
9.02
7.81
14.82
8.12
7.65 7.29
7.90
(Since 11/02/2009) 14.48
(Since 12/29/2010) 14.05
A: 2.07%
Z: 1.75%
(Since 10/31/2009) 6.65
(Since 12/31/2010) 6.23
AD0ZX
Average Annual Total Returns (%) (as of as of 12/31/25)
Class Z, among 79 Long-Short Equity funds, based on risk adjusted returns, as of 9/30/25.
Morningstar, a leading provider of independent investment insights, has recognized the Alger Dynamic Opportunities Fund's strong, long-term performance.
OVERALL MORNINGSTAR RATING
Class A, among 102 Long-Short Equity funds, based on risk adjusted returns, as of 12/31/24
Morningstar, a leading provider of independent investment insights, has recognized the Alger Dynamic Opportunities Fund's strong, long-term performance.
OVERALL MORNINGSTAR RATING
0.82
-6.83
-8.36
August – September 2015
0.43
-2.63
-6.13
February – March 2018
0.23
-1.43
-6.35
May 2019
1.11
-15.07
-13.52
October – December 2018
-0.05
1.02
-19.60
January – March 2020
-0.34
2.17
-6.36
September – October 2020
0.72
-17.18
-23.87
January – September 2022
0.69
-5.67
-8.25
August – October 2023
0.91
-14.78
-16.26
May – September 2011
0.37
-2.43
-6.60
April – May 2012
Alger Dynamic Opportunities Fund/
S&P 500 Index
Alger Dynamic Opportunities Fund
(%)
S&P 500 Index
(%)
Period
Performance During Significant S&P Declines*
Decline
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0.91
-6.81
-7.50
February – April 2025