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Alger Small Cap Focus Fund to resume sales

edited September 16 in Fund Discussions
https://www.sec.gov/Archives/edgar/data/3521/000119312522246470/d361298d497.htm

497 1 d361298d497.htm ALGER SMALL CAP FOCUS FUND - CLASS AC,I,Y,Z
THE ALGER FUNDS

Alger Small Cap Focus Fund
(the “Fund”)

Supplement dated September 16, 2022 to the
Summary Prospectuses and Prospectuses of the Fund
dated March 1, 2022, as amended and supplemented to date

Effective July 31, 2019, the Board of Trustees (the “Board”) of The Alger Funds authorized a partial closing of the Fund. On September 13, 2022, the Board determined it would be in the best interest of Fund shareholders to resume sales of shares of the Fund to all qualifying investors. Therefore, effective or about October 17, 2022, the Fund’s Class A, C, I, Y and Z shares will be available to all qualifying investors.

Shareholders should retain this Supplement for future reference.

Comments

  • This is surprising in a down year, rather mysterious.
  • @LewisBraham

    Sorry, I misread the filing. I've changed it.
  • Ah, makes sense now.
  • Alger CEO, Dan Chung, appeared on Bloomberg Wall Street Week 9/16

    His observations …..

    - The stock market is a quite reliable forecaster of recessions.

    - 8-9 months is the typical lead time from market top to onset of recession.

    - Since markets topped in early January, he thinks it highly likely we are now in a recession.

    - Leading into a recession earnings of value companies become highly compressed making them less appealing.

    - He is more favorably disposed to buy “growth companies” and select “start-ups” in the middle of a recession. He sees opportunity in some growth companies now. To best of my recollection he did not name specific companies,

  • Well-timed reopening!

    Current Barron's has a feature Alger Mid Cap Focus. Amy Zhang manages that AND Alger Small Cap Focus.

    https://www.barrons.com/articles/top-mid-cap-manager-tech-stocks-51663347771?mod=past_editions
  • LINK This page is temporarily unavailable.
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