Alger Small Cap Growth Institutional Fund Class I 

The fund's primary goal is to achieve significant long-term capital appreciation. It typically allocates a minimum of 80% of its net assets, along with any borrowed capital used for investments, to equity securities. These are issued by companies whose market capitalization, at the time of purchase, falls within a specific range. This range is defined by an upper limit, which is the greater value of either $5 billion or the largest company, by market cap, found in the Russell 2000 Growth Index or the MSCI USA Small Cap Index over the preceding 12 months. The lower limit is set by the smallest company, by market cap, identified in either of those indices during the same 12-month period. Both the Russell 2000 Growth Index and the MSCI USA Small Cap Index are widely recognized as comprehensive benchmarks for small-capitalization stocks.