0001104659-13-000911.txt : 20130107 0001104659-13-000911.hdr.sgml : 20130107 20130107095019 ACCESSION NUMBER: 0001104659-13-000911 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130107 DATE AS OF CHANGE: 20130107 EFFECTIVENESS DATE: 20130107 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALGER INSTITUTIONAL FUNDS CENTRAL INDEX KEY: 0000911415 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-07986 FILM NUMBER: 13513984 BUSINESS ADDRESS: STREET 1: 360 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212-806-8800 MAIL ADDRESS: STREET 1: 360 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: ALGER INSTITUTIONAL FUND DATE OF NAME CHANGE: 20020228 FORMER COMPANY: FORMER CONFORMED NAME: ALGER RETIREMENT FUND DATE OF NAME CHANGE: 19960515 FORMER COMPANY: FORMER CONFORMED NAME: ALGER DEFINED CONTRIBUTION TRUST DATE OF NAME CHANGE: 19930830 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALGER INSTITUTIONAL FUNDS CENTRAL INDEX KEY: 0000911415 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-68124 FILM NUMBER: 13513985 BUSINESS ADDRESS: STREET 1: 360 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212-806-8800 MAIL ADDRESS: STREET 1: 360 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: ALGER INSTITUTIONAL FUND DATE OF NAME CHANGE: 20020228 FORMER COMPANY: FORMER CONFORMED NAME: ALGER RETIREMENT FUND DATE OF NAME CHANGE: 19960515 FORMER COMPANY: FORMER CONFORMED NAME: ALGER DEFINED CONTRIBUTION TRUST DATE OF NAME CHANGE: 19930830 0000911415 S000009201 Alger Capital Appreciation Focus Fund C000024998 Alger Capital Appreciation Focus Fund Class I ALGRX C000024999 Alger Capital Appreciation Focus Fund Class R ALGIX C000122071 Alger Capital Appreciation Focus Fund Class A ALAFX C000122072 Alger Capital Appreciation Focus Fund Class C ALCFX C000122073 Alger Capital Appreciation Focus Fund Class Z ALZFX 485BPOS 1 a12-22311_12485bpos.htm 485BPOS

 

As filed with the Securities and Exchange Commission

 

on January 7, 2013

 

Securities Act File No. 33-68124

Investment Company Act File No. 811-7986

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

o

 

 

Pre-Effective Amendment No.

o

 

Post-Effective Amendment No. 33

x

 

and/or

 

 

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

o

 

Amendment No. 35

x

 

(Check appropriate box or boxes)

 

THE ALGER INSTITUTIONAL FUNDS

(Exact Name of Registrant as Specified in Charter)

 

360 Park Avenue South, New York, New York

 

10010

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, including Area Code:

 

212-806-8800

 

HAL LIEBES

FRED ALGER MANAGEMENT, INC.

360 PARK AVENUE SOUTH

NEW YORK, NY 10010

(Name and Address of Agent for Service)

 

Copy to:

Gary L. Granik, Esq.

Stroock & Stroock & Lavan LLP

180 Maiden Lane

New York, NY 10038-4982

 

 

It is proposed that this filing will become effective (check appropriate box):

 

x

immediately upon filing pursuant to paragraph (b)

 

o

on [date] pursuant to paragraph (b)

 

o

60 days after filing pursuant to paragraph (a)(1)

          

 

o

on [date] pursuant to paragraph (a)(1)

 

o

75 days after filing pursuant to paragraph (a)(2)

 

 

o

on [date] pursuant to paragraph (a)(2) of Rule 485

 

If appropriate, check the following box:

 

o            The post effective amendment designates a new effective date for a previously filed post-effective amendment.

 

 

 



 

SIGNATURES

 

Pursuant to the  requirements  of the  Securities Act of 1933, and the Investment Company Act of 1940, as amended, the Registrant certifies that this Amendment to the Registration Statement meets all of the requirements for effectiveness pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Amendment to the Registration Statement to be signed on its behalf by the undersigned,  thereto duly authorized, in the City of New York and State of New York on the 7th day of January, 2013.

 

 

THE ALGER INSTITUTIONAL FUNDS

 

 

By:

*

 

 

 

  Dan C. Chung, President

 

 

 

 

 

ATTEST:

/s/ Hal Liebes

 

 

 

 

 

 

Hal Liebes, Secretary

 

 

 

Pursuant to the  requirements  of the Securities Act of 1933, this Amendment has been signed below by the following  persons in the  capacities  and on the dates indicated.

 

*

 

President (Principal

 

January 7, 2013

Dan C. Chung

 

Executive Officer)

 

 

 

 

 

 

 

/s/ Michael D. Martins

 

Treasurer

 

January 7, 2013

Michael D. Martins

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

January 7, 2013

Charles F. Baird, Jr.

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

January 7, 2013

Roger P. Cheever

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

January 7, 2013

Hilary M. Alger

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

January 7, 2013

Lester L. Colbert, Jr.

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

January 7, 2013

Nathan E. Saint-Amand

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

January 7, 2013

Stephen E. O’Neil

 

 

 

 

 

 

 

 

 

*

 

Trustee

 

January 7, 2013

David Rosenberg

 

 

 

 

 


*BY: /s/ Hal Liebes

 

 

 

Hal Liebes

 

 

 

Attorney-in-Fact

 

 

 

 



 

Exhibit Index

 

Exhibit No.

 

Description of Exhibit

 

 

 

EX-101.INS

 

XBRL Instance Document

 

 

 

EX-101.SCH

 

XBRL Taxonomy Extension Schema Document

 

 

 

EX-101.CAL

 

XBRL Taxonomy Extension Calculation Linkbase

 

 

 

EX-101.DEF

 

XBRL Taxonomy Extension Definition Linkbase

 

 

 

EX-101.LAB

 

XBRL Taxonomy Extension Labels Linkbase

 

 

 

EX-101.PRE

 

XBRL Taxonomy Extension Presentation Linkbase

 


EX-101.INS 2 ck0000911415-20111031.xml XBRL INSTANCE DOCUMENT 485BPOS 2011-10-31 0000911415 2012-12-31 ALGER INSTITUTIONAL FUNDS false 2012-12-26 2012-12-31 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />Shares are held in a taxable account. These costs, which are not reflected in<br />annual fund operating expenses or in the examples, affect the Fund's performance. <br />During the fiscal year ended October 31, 2011, the Fund's portfolio turnover <br />rate was 57.74% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.alger.com/role/ExpenseExample_S000009201Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.alger.com/role/BarChartData_S000009201Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.</tt> <tt>The following examples are intended to help you compare the cost of investing in<br />the Fund with the cost of investing in other mutual funds. The examples assume<br />that you invest $10,000.00 in the Fund for the time periods indicated, that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> reflects no deduction for fees, expenses or taxes <tt>Fred Alger Management, Inc. believes companies undergoing Positive Dynamic<br />Change offer the best investment opportunities. Positive Dynamic Change <br />refers to companies realizing High Unit Volume Growth or companies undergoing <br />Positive Lifecycle Change. High Unit Volume Growth companies are traditional <br />growth companies experiencing, for example, significantly growing demand or <br />market dominance. Positive Lifecycle Change companies are, for example, <br />companies benefiting from regulatory change, a new product introduction or <br />management change.<br /> <br />The Fund focuses on equity securities of companies of any capitalization that<br />Fred Alger Management, Inc. believes demonstrate promising growth potential.<br /> <br />The Fund intends to invest a substantial portion of its assets in a small number<br />of issuers, and may therefore concentrate its holdings in fewer business sectors<br />or industries. Generally the Fund will hold less than 50 securities. The number<br />of securities held by the Fund may occasionally exceed this range, including,<br />but not limited to, when the portfolio manager is accumulating new positions,<br />phasing out and replacing existing positions, or responding to unusual market<br />conditions. In addition, the Fund will seek to have an annual portfolio turnover<br />rate of less than 100%. From time to time, such as in situations described<br />above, the portfolio turnover rate may exceed 100%.<br />&#xA0;&#xA0;<br />The Fund can also invest in derivative instruments. The Fund currently expects<br />that its primary use of derivatives will involve: (1) purchasing put and call<br />options and selling (writing) covered put and call options, on securities and<br />securities indexes, to increase gain, to hedge against the risk of unfavorable<br />price movements in the underlying securities, or to provide diversification of<br />risk, and (2) entering into forward currency contract to hedge the Fund's<br />foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar<br />denominated securities.</tt> Alger Capital Appreciation Focus Fund You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in Class A Shares of the Alger Family of Funds, including the Fund. EXAMPLE In the foregoing table, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. INVESTMENT OBJECTIVE Remember that a Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. As with any fund that invests in stocks, your investment will fluctuate in value, and the loss of your investment is a risk of investing. PRINCIPAL RISKS Shareholder Fees (fees paid directly from your investment) Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses if you redeemed your shares at the end of each period: A "return after taxes on distributions and sale of fund shares" may sometimes be higher than the other two return figures; this happens where there is a capital loss on redemptions, giving rise to a tax benefit to the shareholder. 0.5774 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The after-tax returns shown may not be relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) PERFORMANCE 25000 <tt>In the foregoing table, after-tax returns are calculated using the historical<br />highest individual federal marginal income tax rates and do not reflect the<br />impact of state and local taxes. Actual after-tax returns depend on an<br />investor's tax situation and may differ from those shown. The after-tax returns<br />shown may not be relevant to investors who hold their Fund shares through<br />tax-deferred arrangements, such as 401(k) plans or individual retirement<br />accounts. A "return after taxes on distributions and sale of fund shares" may<br />sometimes be higher than the other two return figures; this happens where there<br />is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.</tt> The following bar chart and the table beneath it provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the indicated periods compare with those of an appropriate benchmark of market performance. <tt>Best Quarter:<br />Q2 2003&#xA0;&#xA0;&#xA0;17.17%<br /><br />Worst Quarter:<br />Q4 2008&#xA0;&#xA0;-28.17%</tt> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011 PORTFOLIO TURNOVER <tt>As with any fund that invests in stocks, your investment will fluctuate in<br />value, and the loss of your investment is a risk of investing. The Fund's <br />price per share will fluctuate due to changes in the market prices of its <br />investments. Also, the Fund's investments may not grow as fast as the rate <br />of inflation and stocks tend to be more volatile than some other investments <br />you could make, such as bonds.<br /> <br />Prices of growth stocks tend to be higher in relation to their companies'<br />earnings and may be more sensitive to market, political and economic developments <br />than other stocks, making their prices more volatile. An investment in the Fund <br />may be better suited to investors who seek long-term capital growth and can <br />tolerate fluctuations in their investment's value. A small investment in<br />derivatives could have a potentially large impact on the Fund's performance.<br />When purchasing options, the Fund bears the risk that if the market value of the<br />underlying security does not move to a level that would make exercise of the<br />option profitable, the option will expire unexercised. When a call option<br />written by the Fund is exercised, the Fund will not participate in any increase<br />in the underlying security's value above the exercise price. When a put option<br />written by the Fund is exercised, the Fund will be required to purchase the<br />underlying security at a price in excess of its market value. Use of options on<br />securities indexes are subject to the risk that trading in the options may be<br />interrupted if trading in certain securities included in the index is<br />interrupted, the risk that price movements in the Fund's portfolio securities<br />may not correlate precisely with movements in the level of an index, and the<br />risk that Fred Alger Management, Inc. may not predict correctly movements in the<br />direction of a particular market or of the stock market generally. Because<br />certain options may require settlement in cash, the Fund may be forced to<br />liquidate portfolio securities to meet settlement obligations. Forward currency<br />contracts are subject to currency exchange rate risks, the risk of<br />non-performance by the contract counterparty, and the risk that Fred Alger<br />Management, Inc. may not predict accurately future foreign exchange rates.<br /> <br />The following risks may also apply:<br /> <br />&#x2022; Investing in companies of all capitalizations involves the risk that smaller<br />issuers in which the Fund invests may have limited product lines or financial<br />resources, or lack management depth.<br /> <br />&#x2022; the possibility that it may be difficult or impossible to liquidate a security<br />position at a time and price acceptable to the Fund because of the potentially<br />less frequent trading of stocks of smaller market capitalization.<br /><br />&#x2022; the Fund may have a more concentrated portfolio than other funds, so it may be<br />more vulnerable to changes in the market value of a single issuer and may be<br />more susceptible to risks associated with a single economic, political or<br />regulatory occurrence than a fund that has a more diversified portfolio.<br /><br />&#x2022; the Fund may have substantial holdings within a particular sector, and companies <br />in similar industries may be similarly affected by particular economic or market <br />events.<br /> <br />An investment in a Fund is not a deposit of a bank and is not insured or guaranteed <br />by the Federal Deposit Insurance Corporation or other government agency.</tt> FUND FEES AND EXPENSES PRINCIPAL INVESTMENT STRATEGY www.alger.com <tt>The following bar chart and the table beneath it provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year and by showing how the Fund's average annual returns for the<br />indicated periods compare with those of an appropriate benchmark of market<br />performance. Class A and Class C Shares were not offered prior to December 31,<br />2012. Historical performance prior to December 31, 2012 is that of the Fund's<br />Class I Shares. Previously, the Fund followed different investment strategies<br />under the name "Alger Large Cap Growth Institutional Fund" and was managed by<br />different portfolio managers. Performance prior to December 31, 2012 reflects<br />those management styles and does not reflect the current investment personnel<br />and strategies of the Fund. Remember that a Fund's past performance (before and<br />after taxes) is not necessarily an indication of how it will perform in the<br />future. Updated performance information is available on the Fund's website<br />www.alger.com.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the Fund. You may qualify for sales charge discounts if you and your<br />family invest, or agree to invest in the future, at least $25,000 in Class A<br />Shares of the Alger Family of Funds, including the Fund. More information about<br />these and other discounts is available from your financial professional and in<br />"Purchasing and Redeeming Fund Shares" beginning on page A-2 of the Fund's<br />Prospectus and the sections "Right of Accumulation (Class A Shares)" and "Letter<br />of Intent (Class A Shares)" on page 14 of the Fund's Statement of Additional<br />Information. "Other Expenses" below are estimated assuming $1 million in net<br />assets. If actual net assets are less, the actual expense ratio will be higher.</tt> <div style="display:none">~ http://www.alger.com/role/OperatingExpensesData_S000009201Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> You would pay the following expenses if you did not redeem your shares: <div style="display:none">~ http://www.alger.com/role/PerformanceTableData_S000009201Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in a Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or other government agency. <div style="display:none">~ http://www.alger.com/role/ExpenseExampleNoRedemption_S000009201Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.alger.com/role/ShareholderFeesData_S000009201Member3 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes) 0.0264 0.0250 0.0260 0.0700 1993-11-08 Class I Return After Taxes on Distributions and Sale of Fund Shares -0.0048 -0.0014 0.0064 0.0523 1993-11-08 Class I Return After Taxes on Distributions -0.0073 -0.0019 0.0074 0.0540 1993-11-08 ALCFX 0.0000 308 208 762 -0.0058 2921 -0.0200 1343 0.0092 0.0071 2013-12-30 2921 762 1343 0.0100 0.0205 0.0263 0.0100 ALAFX 0.0525 650 650 1032 -0.0058 2566 -0.0200 1437 0.0092 0.0071 2013-12-30 2566 1032 1437 0.0025 0.0130 0.0188 0.0100 -0.3391 Worst Quarter: Best Quarter: 2012-09-30 Class I Return Before Taxes 2003-06-30 -0.2817 0.0480 0.1380 0.1884 0.1717 -0.0073 -0.4725 2008-12-31 0.4043 -0.0011 0.1170 Total return -0.0073 0.3437 0.0079 0.0464 0.0685 1993-11-08 0.1117 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate <br />may indicate higher transaction costs and may result in higher taxes when Fund<br />Shares are held in a taxable account. These costs, which are not reflected in<br />annual fund operating expenses or in the examples, affect the Fund's performance. <br />During the fiscal year ended October 31, 2011, the Fund's portfolio turnover <br />rate was 57.74% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.alger.com/role/ExpenseExample_S000009201Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.alger.com/role/BarChartData_S000009201Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.</tt> <tt>The following examples are intended to help you compare the cost of investing in<br />the Fund with the cost of investing in other mutual funds. The examples assume<br />that you invest $10,000.00 in the Fund for the time periods indicated, that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> reflects no deduction for fees, expenses or taxes <tt>Fred Alger Management, Inc. believes companies undergoing Positive Dynamic<br />Change offer the best investment opportunities. Positive Dynamic Change <br />refers to companies realizing High Unit Volume Growth or companies undergoing <br />Positive Lifecycle Change. High Unit Volume Growth Companies are traditional <br />growth companies experiencing, for example, significantly growing demand or <br />market dominance. Positive Lifecycle Change companies are, for example, <br />companies benefiting from regulatory change, a new product introduction or <br />management change.<br /> <br />The Fund focuses on equity securities of companies of any capitalization that<br />Fred Alger Management, Inc. believes demonstrate promising growth potential.<br /> <br />The Fund intends to invest a substantial portion of its assets in a small number<br />of issuers, and may therefore concentrate its holdings in fewer business sectors<br />or industries. Generally the Fund will hold less than 50 securities. The number<br />of securities held by the Fund may occasionally exceed this range, including,<br />but not limited to, when the portfolio manager is accumulating new positions,<br />phasing out and replacing existing positions, or responding to unusual market<br />conditions. In addition, the Fund will seek to have an annual portfolio turnover<br />rate of less than 100%. From time to time, such as in situations described<br />above, the portfolio turnover rate may exceed 100%.<br /> <br />The Fund can also invest in derivative instruments. The Fund currently expects<br />that its primary use of derivatives will involve: (1) purchasing put and call<br />options and selling (writing) covered put and call options, on securities and<br />securities indexes, to increase gain, to hedge against the risk of unfavorable<br />price movements in the underlying securities, or to provide diversification of<br />risk, and (2) entering into forward currency contract to hedge the Fund's<br />foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar<br />denominated securities.</tt> Alger Capital Appreciation Focus Fund EXAMPLE In the foregoing table, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. INVESTMENT OBJECTIVE Remember that a Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. As with any fund that invests in stocks, your investment will fluctuate in value, and the loss of your investment is a risk of investing. PRINCIPAL RISKS Shareholder Fees (fees paid directly from your investment) None Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses regardless of whether you redeemed your shares at the end of each period: A "return after taxes on distributions and sale of fund shares" may sometimes be higher than the other two return figures; this happens where there is a capital loss on redemptions, giving rise to a tax benefit to the shareholder. 0.5774 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The after-tax returns shown may not be relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) PERFORMANCE <tt>In the foregoing table, after-tax returns are calculated using the historical<br />highest individual federal marginal income tax rates and do not reflect the<br />impact of state and local taxes. Actual after-tax returns depend on an<br />investor's tax situation and may differ from those shown. The after-tax returns<br />shown may not be relevant to investors who hold their Fund shares through<br />tax-deferred arrangements, such as 401(k) plans or individual retirement<br />accounts. A "return after taxes on distributions and sale of fund shares" may<br />sometimes be higher than the other two return figures; this happens where there<br />is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.</tt> The following bar chart and the table beneath it provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the indicated periods compare with those of an appropriate benchmark of market performance. <tt>Best Quarter:<br />Q2 2003&#xA0;&#xA0;&#xA0;17.17%<br /><br />Worst Quarter:<br />Q4 2008&#xA0;&#xA0;-28.17%</tt> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011 PORTFOLIO TURNOVER <tt>As with any fund that invests in stocks, your investment will fluctuate in<br />value, and the loss of your investment is a risk of investing. The Fund's <br />price per share will fluctuate due to changes in the market prices of its <br />investments. Also, the Fund's investments may not grow as fast as the rate <br />of inflation and stocks tend to be more volatile than some other investments <br />you could make, such as bonds.<br />&#xA0;&#xA0;<br />Prices of growth stocks tend to be higher in relation to their companies'<br />earnings and may be more sensitive to market, political and economic<br />developments than other stocks, making their prices more volatile. An investment<br />in the Fund may be better suited to investors who seek long-term capital growth<br />and can tolerate fluctuations in their investment's value. A small investment in<br />derivatives could have a potentially large impact on the Fund's performance.<br />When purchasing options, the Fund bears the risk that if the market value of the<br />underlying security does not move to a level that would make exercise of the<br />option profitable, the option will expire unexercised. When a call option<br />written by the Fund is exercised, the Fund will not participate in any increase<br />in the underlying security's value above the exercise price. When a put option<br />written by the Fund is exercised, the Fund will be required to purchase the<br />underlying security at a price in excess of its market value. Use of options on<br />securities indexes are subject to the risk that trading in the options may be<br />interrupted if trading in certain securities included in the index is interrupted, <br />the risk that price movements in the Fund's portfolio securities may not correlate <br />precisely with movements in the level of an index, and the risk that Fred Alger <br />Management, Inc. may not predict correctly movements in the direction of a <br />particular market or of the stock market generally. Because certain options may <br />require settlement in cash, the Fund may be forced to liquidate portfolio <br />securities to meet settlement obligations. Forward currency contracts are subject <br />to currency exchange rate risks, the risk of non-performance by the contract <br />counterparty, and the risk that Fred Alger Management, Inc. may not predict <br />accurately future foreign exchange rates.<br /> <br />The following risks may also apply:<br /> <br />&#x2022; Investing in companies of all capitalizations involves the risk that smaller<br />issuers in which the Fund invests may have limited product lines or financial<br />resources, or lack management depth.<br /><br />&#x2022; the possibility that it may be difficult or impossible to liquidate a security<br />position at a time and price acceptable to the Fund because of the potentially<br />less frequent trading of stocks of smaller market capitalization.<br /> <br />&#x2022; the Fund may have a more concentrated portfolio than other funds, so it may be<br />more vulnerable to changes in the market value of a single issuer and may be<br />more susceptible to risks associated with a single economic, political or<br />regulatory occurrence than a fund that has a more diversified portfolio.<br /> <br />&#x2022; the Fund may have substantial holdings within a particular sector, and<br />companies in similar industries may be similarly affected by particular economic<br />or market events.<br /> <br />An investment in a Fund is not a deposit of a bank and is not insured or<br />guaranteed by the Federal Deposit Insurance Corporation or other government<br />agency.</tt> FUND FEES AND EXPENSES PRINCIPAL INVESTMENT STRATEGY www.alger.com <tt>The following bar chart and the table beneath it provide some indication of <br />the risks of investing in the Fund by showing changes in the Fund's performance <br />from year to year and by showing how the Fund's average annual returns for the<br />indicated periods compare with those of an appropriate benchmark of market<br />performance. Class Z Shares were not offered prior to December 31, 2012.<br />Historical performance prior to December 31, 2012 is that of the Fund's Class I<br />Shares. Previously, the Fund followed different investment strategies under the<br />name "Alger Large Cap Growth Institutional Fund" and was managed by different<br />portfolio managers. Performance prior to December 31, 2012 reflects those<br />management styles and does not reflect the current investment personnel and<br />strategies of the Fund. Remember that a Fund's past performance (before and<br />after taxes) is not necessarily an indication of how it will perform in the<br />future. Updated performance information is available on the Fund's website<br />www.alger.com.</tt> <tt>This table describes the fees and expenses that you may pay if you buy <br />and hold shares of the Fund. There are no sales charges on purchases <br />or redemptions. "Other Expenses" below are estimated assuming $1 million <br />in net assets. If actual net assets are less, the actual expense ratio <br />will be higher.</tt> <div style="display:none">~ http://www.alger.com/role/OperatingExpensesData_S000009201Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.alger.com/role/PerformanceTableData_S000009201Member2 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in a Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or other government agency. Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes) 0.0264 0.0250 0.0260 0.0700 1993-11-08 Class I Return After Taxes on Distributions and Sale of Fund Shares -0.0048 -0.0014 0.0064 0.0523 1993-11-08 Class I Return After Taxes on Distributions -0.0073 -0.0019 0.0074 0.0540 1993-11-08 ALZFX 91 714 -0.0204 3106 1362 0.0222 0.0071 2013-12-30 0.00 0.0089 0.0293 -0.3391 Worst Quarter Best Quarter: 2012-09-30 Class I Return Before Taxes 2003-06-30 -0.2817 0.0480 0.1380 0.1884 0.1717 -0.0073 -0.4725 2008-12-31 0.4043 -0.0011 0.1170 Total return -0.0073 0.3437 0.0079 0.0464 0.0685 1993-11-08 0.1117 <tt>The Fund pays transaction costs, such as commissions, when it buys and sells<br />securities (or "turns over" its portfolio). A higher portfolio turnover rate may<br />indicate higher transaction costs and may result in higher taxes when Fund<br />shares are held in a taxable account. These costs, which are not reflected in<br />annual fund operating expenses or in the example, affect the Fund's performance.<br />During the fiscal year ended October 31, 2011, the Fund's portfolio turnover<br />rate was 57.74% of the average value of its portfolio.</tt> <div style="display:none">~ http://www.alger.com/role/ExpenseExample_S000009201Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.alger.com/role/BarChartData_S000009201Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <tt>Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.</tt> <tt>The following example is intended to help you compare the cost of investing in<br />the Fund with the cost of investing in other mutual funds. The example assumes<br />that you invest $10,000.00 in the Fund for the time periods indicated, that your<br />investment has a 5% return each year and that the Fund's operating expenses<br />remain the same.</tt> reflects no deduction for fees, expenses or taxes <tt>Fred Alger Management, Inc. believes companies undergoing Positive Dynamic<br />Change offer the best investment opportunities. Positive Dynamic Change <br />refers to companies realizing High Unit Volume Growth or companies undergoing <br />Positive Lifecycle Change. High Unit Volume Growth companies are traditional <br />growth companies experiencing, for example, significantly growing demand or <br />market dominance. Positive Lifecycle Change companies are, for example, <br />companies benefitting from regulatory change, a new product introduction or <br />management change.<br /> <br />The Fund focuses on equity securities of companies of any capitalization that<br />Fred Alger Management, Inc. believes demonstrate promising growth potential.<br /> <br />The Fund intends to invest a substantial portion of its assets in a small number<br />of issuers, and may therefore concentrate its holdings in fewer business sectors<br />or industries. Generally the Fund will hold less than 50 securities. The number<br />of securities held by the Fund may occasionally exceed this range, including,<br />but not limited to, when the portfolio manager is accumulating new positions,<br />phasing out and replacing existing positions, or responding to unusual market<br />conditions. In addition, the Fund will seek to have an annual portfolio turnover<br />rate of less than 100%. From time to time, such as in situations described<br />above, the portfolio turnover rate may exceed 100%.<br /> <br />The Fund can also invest in derivative instruments. The Fund currently expects<br />that its primary uses of derivatives will involve: (1) purchasing put and call<br />options and selling (writing) covered put and call options, on securities and<br />securities indexes, to increase gain, to hedge against the risk of unfavorable<br />price movements in the underlying securities, or to provide diversification of<br />risk, and (2) entering into forward currency contracts to hedge the Fund's<br />foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar<br />denominated securities.</tt> Alger Capital Appreciation Focus Fund EXAMPLE In the foregoing table, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. INVESTMENT OBJECTIVE Remember that a Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. As with any fund that invests in stocks, your investment will fluctuate in value, and the loss of your investment is a risk of investing. PRINCIPAL RISKS Shareholder Fees (fees paid directly from your investment) None Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses whether or not you redeemed your shares at the end of each period: A "return after taxes on distributions and sale of fund shares" may sometimes be higher than the other two return figures; this happens where there is a capital loss on redemptions, giving rise to a tax benefit to the shareholder. 0.5774 Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The after-tax returns shown may not be relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) PERFORMANCE <tt>In the foregoing table, after-tax returns are calculated using the historical<br />highest individual federal marginal income tax rates and do not reflect the<br />impact of state and local taxes. Actual after-tax returns depend on an investor's <br />tax situation and may differ from those shown. The after-tax returns shown may not <br />be relevant to investors who hold their Fund shares through tax-deferred <br />arrangements, such as 401(k) plans or individual retirement accounts. After-tax <br />returns for Class R Shares, which are not shown, will vary from those shown for <br />Class I Shares. A "return after taxes on distributions and sale of fund shares" <br />may sometimes be higher than the other two return figures; this happens where <br />there is a capital loss on redemptions, giving rise to a tax benefit to the <br />shareholder.</tt> The following bar chart and the table beneath it provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the indicated periods compare with those of an appropriate benchmark of market performance. <tt>Best Quarter:<br />Q2 2003&#xA0;&#xA0;&#xA0;&#xA0;17.17%<br /><br />Worst Quarter:<br />Q4 2008&#xA0;&#xA0;&#xA0;-28.17%</tt> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011 PORTFOLIO TURNOVER <tt>As with any fund that invests in stocks, your investment will fluctuate in<br />value, and the loss of your investment is a risk of investing. The Fund's price<br />per share will fluctuate due to changes in the market prices of its investments.<br />Also, the Fund's investments may not grow as fast as the rate of inflation and<br />stocks tend to be more volatile than some other investments you could make, such<br />as bonds.<br />&#xA0;&#xA0;<br />Prices of growth stocks tend to be higher in relation to their companies' earnings <br />and may be more sensitive to market, political and economic developments than <br />other stocks, making their prices more volatile. An investment in the Fund may be <br />better suited to investors who seek long-term capital growth and can tolerate <br />fluctuations in their investment's value.<br /> <br />A small investment in derivatives could have a potentially large impact on the<br />Fund's performance. When purchasing options, the Fund bears the risk that if the<br />market value of the underlying security does not move to a level that would make<br />exercise of the option profitable, the option will expire unexercised. When a<br />call option written by the Fund is exercised, the Fund will not participate in<br />any increase in the underlying security's value above the exercise price. When a<br />put option written by the Fund is exercised, the Fund will be required to<br />purchase the underlying security at a price in excess of its market value. Use<br />of options on securities indexes is subject to the risk that trading in the<br />options may be interrupted if trading in certain securities included in the<br />index is interrupted, the risk that price movements in the Fund's portfolio<br />securities may not correlate precisely with movements in the level of an index,<br />and the risk that Fred Alger Management, Inc. may not predict correctly<br />movements in the direction of a particular market or of the stock market<br />generally. Because certain options may require settlement in cash, the Fund may<br />be forced to liquidate portfolio securities to meet settlement obligations.<br />Forward currency contracts are subject to currency exchange rate risks, the risk<br />of non-performance by the contract counterparty, and the risk that Fred Alger<br />Management, Inc. may not predict accurately future foreign exchange rates.<br /> <br />The following risks may also apply:<br /> <br />&#x2022; Investing in companies of all capitalizations involves the risk that smaller<br />issuers in which the Fund invests may have limited product lines or financial<br />resources, or lack management depth. <br /><br />&#x2022; the possibility that it may be difficult or impossible to liquidate a security<br />position at a time and price acceptable to the Fund because of the potentially<br />less frequent trading of stocks of smaller market capitalization.<br /> <br />&#x2022; the Fund may have a more concentrated portfolio than other funds, so it may be<br />more vulnerable to changes in the market value of a single issuer and may be<br />more susceptible to risks associated with a single economic, political or<br />regulatory occurrence than a fund that has a more diversified portfolio. <br /><br />&#x2022; the Fund may have substantial holdings within a particular sector, and<br />companies in similar industries may be similarly affected by particular economic<br />or market events.<br /> <br />An investment in a Fund is not a deposit of a bank and is not insured or<br />guaranteed by the Federal Deposit Insurance Corporation or other government<br />agency.</tt> FUND FEES AND EXPENSES After-tax returns for Class R Shares, which are not shown, will vary from those shown for Class I Shares. PRINCIPAL INVESTMENT STRATEGY www.alger.com <tt>The following bar chart and the table beneath it provide some indication of the<br />risks of investing in the Fund by showing changes in the Fund's performance from<br />year to year and by showing how the Fund's average annual returns for the<br />indicated periods compare with those of an appropriate benchmark of market<br />performance. Prior to December 31, 2012, the Fund followed different investment<br />strategies under the name "Alger Large Cap Growth Institutional Fund" and was<br />managed by different portfolio managers. Performance prior to December 31, 2012<br />reflects those management styles and does not reflect the current investment<br />personnel and strategies of the Fund. Remember that a Fund's past performance<br />(before and after taxes) is not necessarily an indication of how it will perform<br />in the future. Updated performance information is available on the Fund's<br />website www.alger.com.</tt> <tt>This table describes the fees and expenses that you may pay if you buy and hold<br />shares of the Fund. There are no sales charges on purchases or redemptions.</tt> <div style="display:none">~ http://www.alger.com/role/OperatingExpensesData_S000009201Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * row primary compact * ~</div> <div style="display:none">~ http://www.alger.com/role/PerformanceTableData_S000009201Member1 column dei_LegalEntityAxis compact * column rr_ProspectusShareClassAxis compact * column rr_PerformanceMeasureAxis compact * row primary compact * ~</div> An investment in a Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or other government agency. Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes) 0.0264 0.0250 0.0260 0.0700 1993-11-08 Class I Return After Taxes on Distributions and Sale of Fund Shares -0.0048 -0.0014 0.0064 0.0523 1993-11-08 Class I Return After Taxes on Distributions -0.0073 -0.0019 0.0074 0.0540 1993-11-08 ALGIX Class R (Inception 1/27/03) Return Before Taxes 256 788 2866 1345 -0.0144 0.0132 0.0071 -0.0069 0.0050 0.0024 0.0253 0.0253 0.0630 1993-11-08 ALGRX -0.3391 Worst Quarter Best Quarter: 2012-09-30 Class I Return Before Taxes 117 2003-06-30 509 -0.2817 0.0480 -0.0068 0.1380 2092 927 0.1884 0.1717 -0.0073 0.0112 -0.4725 0.0071 2013-12-30 2008-12-31 0.4043 -0.0011 0.1170 Total return -0.0073 0.3437 0.0000 0.0079 0.0115 0.0183 0.0464 0.0685 1993-11-08 0.1117 0000911415 ck0000911415:SummaryS000009201-1Memberck0000911415:S000009201Memberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-1Memberck0000911415:S000009201Memberck0000911415:C000024999Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-1Memberck0000911415:S000009201Memberrr:AfterTaxesOnDistributionsMemberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-1Memberck0000911415:S000009201Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-1Memberck0000911415:S000009201Memberck0000911415:RRINDEX00001Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-1Memberck0000911415:S000009201Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-2Memberck0000911415:S000009201Memberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-2Memberck0000911415:S000009201Memberck0000911415:C000122073Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-2Memberck0000911415:S000009201Memberrr:AfterTaxesOnDistributionsMemberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-2Memberck0000911415:S000009201Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-2Memberck0000911415:S000009201Memberck0000911415:RRINDEX00001Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-2Memberck0000911415:S000009201Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-3Memberck0000911415:S000009201Memberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-3Memberck0000911415:S000009201Memberck0000911415:C000122071Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-3Memberck0000911415:S000009201Memberck0000911415:C000122072Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-3Memberck0000911415:S000009201Memberrr:AfterTaxesOnDistributionsMemberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-3Memberck0000911415:S000009201Memberrr:AfterTaxesOnDistributionsAndSalesMemberck0000911415:C000024998Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-3Memberck0000911415:S000009201Memberck0000911415:RRINDEX00001Member 2012-12-31 2012-12-31 0000911415 ck0000911415:SummaryS000009201-3Memberck0000911415:S000009201Member 2012-12-31 2012-12-31 0000911415 2012-12-31 2012-12-31 pure iso4217:USD Fred Alger Management, Inc. has adopted breakpoints for Alger Capital Appreciation Focus Fund. The management fee for assets in excess of $1 billion is .60%. Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class Z Shares of the Fund to .89% of the Fund's average daily net assets. This expense reimbursement cannot be terminated. Total return for Class I Shares for the nine months ended September 30, 2012 was 11.17%. Purchases of $1 million of Class A Shares at net asset value may be subject to a contingent deferred sales charge of 1.00% on redemptions made within 12 months of purchase. Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class A Shares of the Fund to 1.30%, and Class C Shares of the Fund to 2.05%, of the Fund's average daily net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. has adopted breakpoints for Alger Capital Appreciation Focus Fund. The management fee for assets over $1 billion is .60%. Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class I Shares of the Fund to 1.15% of the Fund's average daily net assets. This expense reimbursement cannot be terminated. Performance of the Fund's Class R Shares prior to January 27, 2003 reflects the performance of the Fund's Class I Shares, as adjusted with currently applicable sales charges and operating expenses, which differ from historical charges and expenses. 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Alger Capital Appreciation Focus Fund (Second Prospectus Summary) | Alger Capital Appreciation Focus Fund
Alger Capital Appreciation Focus Fund
INVESTMENT OBJECTIVE
Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.
FUND FEES AND EXPENSES
This table describes the fees and expenses that you may pay if you buy
and hold shares of the Fund. There are no sales charges on purchases
or redemptions. "Other Expenses" below are estimated assuming $1 million
in net assets. If actual net assets are less, the actual expense ratio
will be higher.
Shareholder Fees (fees paid directly from your investment) None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses
Alger Capital Appreciation Focus Fund
Class Z
Management Fees [1] 0.71%
Distribution and/or Service (12b-1) Fees none
Other Expenses 2.22%
Total Annual Fund Operating Expenses 2.93%
Expense Reimbursement [2] 2.04%
Total Annual Fund Operating Expenses After Expense Reimbursement 0.89%
[1] Fred Alger Management, Inc. has adopted breakpoints for Alger Capital Appreciation Focus Fund. The management fee for assets in excess of $1 billion is .60%.
[2] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class Z Shares of the Fund to .89% of the Fund's average daily net assets. This expense reimbursement cannot be terminated.
EXAMPLE
The following examples are intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The examples assume
that you invest $10,000.00 in the Fund for the time periods indicated, that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same.
Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses regardless of whether you redeemed your shares at the end of each period:
Expense Example (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Alger Capital Appreciation Focus Fund Class Z
91 714 1,362 3,106
PORTFOLIO TURNOVER
The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
Shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the examples, affect the Fund's performance.
During the fiscal year ended October 31, 2011, the Fund's portfolio turnover
rate was 57.74% of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGY
Fred Alger Management, Inc. believes companies undergoing Positive Dynamic
Change offer the best investment opportunities. Positive Dynamic Change
refers to companies realizing High Unit Volume Growth or companies undergoing
Positive Lifecycle Change. High Unit Volume Growth Companies are traditional
growth companies experiencing, for example, significantly growing demand or
market dominance. Positive Lifecycle Change companies are, for example,
companies benefiting from regulatory change, a new product introduction or
management change.

The Fund focuses on equity securities of companies of any capitalization that
Fred Alger Management, Inc. believes demonstrate promising growth potential.

The Fund intends to invest a substantial portion of its assets in a small number
of issuers, and may therefore concentrate its holdings in fewer business sectors
or industries. Generally the Fund will hold less than 50 securities. The number
of securities held by the Fund may occasionally exceed this range, including,
but not limited to, when the portfolio manager is accumulating new positions,
phasing out and replacing existing positions, or responding to unusual market
conditions. In addition, the Fund will seek to have an annual portfolio turnover
rate of less than 100%. From time to time, such as in situations described
above, the portfolio turnover rate may exceed 100%.

The Fund can also invest in derivative instruments. The Fund currently expects
that its primary use of derivatives will involve: (1) purchasing put and call
options and selling (writing) covered put and call options, on securities and
securities indexes, to increase gain, to hedge against the risk of unfavorable
price movements in the underlying securities, or to provide diversification of
risk, and (2) entering into forward currency contract to hedge the Fund's
foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar
denominated securities.
PRINCIPAL RISKS
As with any fund that invests in stocks, your investment will fluctuate in
value, and the loss of your investment is a risk of investing. The Fund's
price per share will fluctuate due to changes in the market prices of its
investments. Also, the Fund's investments may not grow as fast as the rate
of inflation and stocks tend to be more volatile than some other investments
you could make, such as bonds.
  
Prices of growth stocks tend to be higher in relation to their companies'
earnings and may be more sensitive to market, political and economic
developments than other stocks, making their prices more volatile. An investment
in the Fund may be better suited to investors who seek long-term capital growth
and can tolerate fluctuations in their investment's value. A small investment in
derivatives could have a potentially large impact on the Fund's performance.
When purchasing options, the Fund bears the risk that if the market value of the
underlying security does not move to a level that would make exercise of the
option profitable, the option will expire unexercised. When a call option
written by the Fund is exercised, the Fund will not participate in any increase
in the underlying security's value above the exercise price. When a put option
written by the Fund is exercised, the Fund will be required to purchase the
underlying security at a price in excess of its market value. Use of options on
securities indexes are subject to the risk that trading in the options may be
interrupted if trading in certain securities included in the index is interrupted,
the risk that price movements in the Fund's portfolio securities may not correlate
precisely with movements in the level of an index, and the risk that Fred Alger
Management, Inc. may not predict correctly movements in the direction of a
particular market or of the stock market generally. Because certain options may
require settlement in cash, the Fund may be forced to liquidate portfolio
securities to meet settlement obligations. Forward currency contracts are subject
to currency exchange rate risks, the risk of non-performance by the contract
counterparty, and the risk that Fred Alger Management, Inc. may not predict
accurately future foreign exchange rates.

The following risks may also apply:

• Investing in companies of all capitalizations involves the risk that smaller
issuers in which the Fund invests may have limited product lines or financial
resources, or lack management depth.

• the possibility that it may be difficult or impossible to liquidate a security
position at a time and price acceptable to the Fund because of the potentially
less frequent trading of stocks of smaller market capitalization.

• the Fund may have a more concentrated portfolio than other funds, so it may be
more vulnerable to changes in the market value of a single issuer and may be
more susceptible to risks associated with a single economic, political or
regulatory occurrence than a fund that has a more diversified portfolio.

• the Fund may have substantial holdings within a particular sector, and
companies in similar industries may be similarly affected by particular economic
or market events.

An investment in a Fund is not a deposit of a bank and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or other government
agency.
PERFORMANCE
The following bar chart and the table beneath it provide some indication of
the risks of investing in the Fund by showing changes in the Fund's performance
from year to year and by showing how the Fund's average annual returns for the
indicated periods compare with those of an appropriate benchmark of market
performance. Class Z Shares were not offered prior to December 31, 2012.
Historical performance prior to December 31, 2012 is that of the Fund's Class I
Shares. Previously, the Fund followed different investment strategies under the
name "Alger Large Cap Growth Institutional Fund" and was managed by different
portfolio managers. Performance prior to December 31, 2012 reflects those
management styles and does not reflect the current investment personnel and
strategies of the Fund. Remember that a Fund's past performance (before and
after taxes) is not necessarily an indication of how it will perform in the
future. Updated performance information is available on the Fund's website
www.alger.com.
ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) [1]
Bar Chart
Best Quarter:
Q2 2003   17.17%

Worst Quarter:
Q4 2008  -28.17%
AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011
Average Annual Total Returns Alger Capital Appreciation Focus Fund
Label
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class I
Class I Return Before Taxes (0.73%) (0.11%) 0.79% 6.85% Nov. 08, 1993
Class I After Taxes on Distributions
Class I Return After Taxes on Distributions (0.73%) (0.19%) 0.74% 5.40% Nov. 08, 1993
Class I After Taxes on Distributions and Sales
Class I Return After Taxes on Distributions and Sale of Fund Shares (0.48%) (0.14%) 0.64% 5.23% Nov. 08, 1993
Russell 1000 Growth Index
Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes) 2.64% 2.50% 2.60% 7.00% Nov. 08, 1993
In the foregoing table, after-tax returns are calculated using the historical
highest individual federal marginal income tax rates and do not reflect the
impact of state and local taxes. Actual after-tax returns depend on an
investor's tax situation and may differ from those shown. The after-tax returns
shown may not be relevant to investors who hold their Fund shares through
tax-deferred arrangements, such as 401(k) plans or individual retirement
accounts. A "return after taxes on distributions and sale of fund shares" may
sometimes be higher than the other two return figures; this happens where there
is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.
[1] Total return for Class I Shares for the nine months ended September 30, 2012 was 11.17%.
XML 12 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund
Alger Capital Appreciation Focus Fund
INVESTMENT OBJECTIVE
Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.
FUND FEES AND EXPENSES
This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund. There are no sales charges on purchases or redemptions.
Shareholder Fees (fees paid directly from your investment) None
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Alger Capital Appreciation Focus Fund
Class I
Class R
Management Fees [1] 0.71% 0.71%
Distribution (12b-1) Fees none 0.50%
Other Expenses (including shareholder servicing fees of .25%) 1.12% 1.32%
Total Annual Fund Operating Expenses 1.83% 2.53%
Expense Reimbursement [2] (0.68%)  
Total Annual Fund Operating Expenses After Expense Reimbursement 1.15% 2.53%
[1] Fred Alger Management, Inc. has adopted breakpoints for Alger Capital Appreciation Focus Fund. The management fee for assets over $1 billion is .60%.
[2] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class I Shares of the Fund to 1.15% of the Fund's average daily net assets. This expense reimbursement cannot be terminated.
EXAMPLE
The following example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The example assumes
that you invest $10,000.00 in the Fund for the time periods indicated, that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same.
Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses whether or not you redeemed your shares at the end of each period:
Expense Example Alger Capital Appreciation Focus Fund (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Class I
117 509 927 2,092
Class R
256 788 1,345 2,866
PORTFOLIO TURNOVER
The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the Fund's performance.
During the fiscal year ended October 31, 2011, the Fund's portfolio turnover
rate was 57.74% of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGY
Fred Alger Management, Inc. believes companies undergoing Positive Dynamic
Change offer the best investment opportunities. Positive Dynamic Change
refers to companies realizing High Unit Volume Growth or companies undergoing
Positive Lifecycle Change. High Unit Volume Growth companies are traditional
growth companies experiencing, for example, significantly growing demand or
market dominance. Positive Lifecycle Change companies are, for example,
companies benefitting from regulatory change, a new product introduction or
management change.

The Fund focuses on equity securities of companies of any capitalization that
Fred Alger Management, Inc. believes demonstrate promising growth potential.

The Fund intends to invest a substantial portion of its assets in a small number
of issuers, and may therefore concentrate its holdings in fewer business sectors
or industries. Generally the Fund will hold less than 50 securities. The number
of securities held by the Fund may occasionally exceed this range, including,
but not limited to, when the portfolio manager is accumulating new positions,
phasing out and replacing existing positions, or responding to unusual market
conditions. In addition, the Fund will seek to have an annual portfolio turnover
rate of less than 100%. From time to time, such as in situations described
above, the portfolio turnover rate may exceed 100%.

The Fund can also invest in derivative instruments. The Fund currently expects
that its primary uses of derivatives will involve: (1) purchasing put and call
options and selling (writing) covered put and call options, on securities and
securities indexes, to increase gain, to hedge against the risk of unfavorable
price movements in the underlying securities, or to provide diversification of
risk, and (2) entering into forward currency contracts to hedge the Fund's
foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar
denominated securities.
PRINCIPAL RISKS
As with any fund that invests in stocks, your investment will fluctuate in
value, and the loss of your investment is a risk of investing. The Fund's price
per share will fluctuate due to changes in the market prices of its investments.
Also, the Fund's investments may not grow as fast as the rate of inflation and
stocks tend to be more volatile than some other investments you could make, such
as bonds.
  
Prices of growth stocks tend to be higher in relation to their companies' earnings
and may be more sensitive to market, political and economic developments than
other stocks, making their prices more volatile. An investment in the Fund may be
better suited to investors who seek long-term capital growth and can tolerate
fluctuations in their investment's value.

A small investment in derivatives could have a potentially large impact on the
Fund's performance. When purchasing options, the Fund bears the risk that if the
market value of the underlying security does not move to a level that would make
exercise of the option profitable, the option will expire unexercised. When a
call option written by the Fund is exercised, the Fund will not participate in
any increase in the underlying security's value above the exercise price. When a
put option written by the Fund is exercised, the Fund will be required to
purchase the underlying security at a price in excess of its market value. Use
of options on securities indexes is subject to the risk that trading in the
options may be interrupted if trading in certain securities included in the
index is interrupted, the risk that price movements in the Fund's portfolio
securities may not correlate precisely with movements in the level of an index,
and the risk that Fred Alger Management, Inc. may not predict correctly
movements in the direction of a particular market or of the stock market
generally. Because certain options may require settlement in cash, the Fund may
be forced to liquidate portfolio securities to meet settlement obligations.
Forward currency contracts are subject to currency exchange rate risks, the risk
of non-performance by the contract counterparty, and the risk that Fred Alger
Management, Inc. may not predict accurately future foreign exchange rates.

The following risks may also apply:

• Investing in companies of all capitalizations involves the risk that smaller
issuers in which the Fund invests may have limited product lines or financial
resources, or lack management depth.

• the possibility that it may be difficult or impossible to liquidate a security
position at a time and price acceptable to the Fund because of the potentially
less frequent trading of stocks of smaller market capitalization.

• the Fund may have a more concentrated portfolio than other funds, so it may be
more vulnerable to changes in the market value of a single issuer and may be
more susceptible to risks associated with a single economic, political or
regulatory occurrence than a fund that has a more diversified portfolio.

• the Fund may have substantial holdings within a particular sector, and
companies in similar industries may be similarly affected by particular economic
or market events.

An investment in a Fund is not a deposit of a bank and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or other government
agency.
PERFORMANCE
The following bar chart and the table beneath it provide some indication of the
risks of investing in the Fund by showing changes in the Fund's performance from
year to year and by showing how the Fund's average annual returns for the
indicated periods compare with those of an appropriate benchmark of market
performance. Prior to December 31, 2012, the Fund followed different investment
strategies under the name "Alger Large Cap Growth Institutional Fund" and was
managed by different portfolio managers. Performance prior to December 31, 2012
reflects those management styles and does not reflect the current investment
personnel and strategies of the Fund. Remember that a Fund's past performance
(before and after taxes) is not necessarily an indication of how it will perform
in the future. Updated performance information is available on the Fund's
website www.alger.com.
ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) [1]
Bar Chart
Best Quarter:
Q2 2003    17.17%

Worst Quarter:
Q4 2008   -28.17%
AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011
Average Annual Total Returns Alger Capital Appreciation Focus Fund
Label
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class I
Class I Return Before Taxes (0.73%) (0.11%) 0.79% 6.85% Nov. 08, 1993 [1]
Class I After Taxes on Distributions
Class I Return After Taxes on Distributions (0.73%) (0.19%) 0.74% 5.40% Nov. 08, 1993 [1]
Class I After Taxes on Distributions and Sales
Class I Return After Taxes on Distributions and Sale of Fund Shares (0.48%) (0.14%) 0.64% 5.23% Nov. 08, 1993 [1]
Class R
Class R (Inception 1/27/03) Return Before Taxes (1.44%) (0.69%) 0.24% [1] 6.30% Nov. 08, 1993 [1]
Russell 1000 Growth Index
Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes) 2.64% 2.50% 2.60% 7.00% Nov. 08, 1993 [1]
[1] Performance of the Fund's Class R Shares prior to January 27, 2003 reflects the performance of the Fund's Class I Shares, as adjusted with currently applicable sales charges and operating expenses, which differ from historical charges and expenses.
In the foregoing table, after-tax returns are calculated using the historical
highest individual federal marginal income tax rates and do not reflect the
impact of state and local taxes. Actual after-tax returns depend on an investor's
tax situation and may differ from those shown. The after-tax returns shown may not
be relevant to investors who hold their Fund shares through tax-deferred
arrangements, such as 401(k) plans or individual retirement accounts. After-tax
returns for Class R Shares, which are not shown, will vary from those shown for
Class I Shares. A "return after taxes on distributions and sale of fund shares"
may sometimes be higher than the other two return figures; this happens where
there is a capital loss on redemptions, giving rise to a tax benefit to the
shareholder.
[1] Total return for Class I Shares for the nine months ended September 30, 2012 was 11.17%.
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XML 14 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Dec. 31, 2012
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Alger Capital Appreciation Focus Fund
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FUND FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund. There are no sales charges on purchases or redemptions.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment) None
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading PORTFOLIO TURNOVER
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the example, affect the Fund's performance.
During the fiscal year ended October 31, 2011, the Fund's portfolio turnover
rate was 57.74% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 57.74%
Expense Example [Heading] rr_ExpenseExampleHeading EXAMPLE
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The following example is intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The example assumes
that you invest $10,000.00 in the Fund for the time periods indicated, that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses whether or not you redeemed your shares at the end of each period:
Strategy [Heading] rr_StrategyHeading PRINCIPAL INVESTMENT STRATEGY
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Fred Alger Management, Inc. believes companies undergoing Positive Dynamic
Change offer the best investment opportunities. Positive Dynamic Change
refers to companies realizing High Unit Volume Growth or companies undergoing
Positive Lifecycle Change. High Unit Volume Growth companies are traditional
growth companies experiencing, for example, significantly growing demand or
market dominance. Positive Lifecycle Change companies are, for example,
companies benefitting from regulatory change, a new product introduction or
management change.

The Fund focuses on equity securities of companies of any capitalization that
Fred Alger Management, Inc. believes demonstrate promising growth potential.

The Fund intends to invest a substantial portion of its assets in a small number
of issuers, and may therefore concentrate its holdings in fewer business sectors
or industries. Generally the Fund will hold less than 50 securities. The number
of securities held by the Fund may occasionally exceed this range, including,
but not limited to, when the portfolio manager is accumulating new positions,
phasing out and replacing existing positions, or responding to unusual market
conditions. In addition, the Fund will seek to have an annual portfolio turnover
rate of less than 100%. From time to time, such as in situations described
above, the portfolio turnover rate may exceed 100%.

The Fund can also invest in derivative instruments. The Fund currently expects
that its primary uses of derivatives will involve: (1) purchasing put and call
options and selling (writing) covered put and call options, on securities and
securities indexes, to increase gain, to hedge against the risk of unfavorable
price movements in the underlying securities, or to provide diversification of
risk, and (2) entering into forward currency contracts to hedge the Fund's
foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar
denominated securities.
Risk [Heading] rr_RiskHeading PRINCIPAL RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any fund that invests in stocks, your investment will fluctuate in
value, and the loss of your investment is a risk of investing. The Fund's price
per share will fluctuate due to changes in the market prices of its investments.
Also, the Fund's investments may not grow as fast as the rate of inflation and
stocks tend to be more volatile than some other investments you could make, such
as bonds.
  
Prices of growth stocks tend to be higher in relation to their companies' earnings
and may be more sensitive to market, political and economic developments than
other stocks, making their prices more volatile. An investment in the Fund may be
better suited to investors who seek long-term capital growth and can tolerate
fluctuations in their investment's value.

A small investment in derivatives could have a potentially large impact on the
Fund's performance. When purchasing options, the Fund bears the risk that if the
market value of the underlying security does not move to a level that would make
exercise of the option profitable, the option will expire unexercised. When a
call option written by the Fund is exercised, the Fund will not participate in
any increase in the underlying security's value above the exercise price. When a
put option written by the Fund is exercised, the Fund will be required to
purchase the underlying security at a price in excess of its market value. Use
of options on securities indexes is subject to the risk that trading in the
options may be interrupted if trading in certain securities included in the
index is interrupted, the risk that price movements in the Fund's portfolio
securities may not correlate precisely with movements in the level of an index,
and the risk that Fred Alger Management, Inc. may not predict correctly
movements in the direction of a particular market or of the stock market
generally. Because certain options may require settlement in cash, the Fund may
be forced to liquidate portfolio securities to meet settlement obligations.
Forward currency contracts are subject to currency exchange rate risks, the risk
of non-performance by the contract counterparty, and the risk that Fred Alger
Management, Inc. may not predict accurately future foreign exchange rates.

The following risks may also apply:

• Investing in companies of all capitalizations involves the risk that smaller
issuers in which the Fund invests may have limited product lines or financial
resources, or lack management depth.

• the possibility that it may be difficult or impossible to liquidate a security
position at a time and price acceptable to the Fund because of the potentially
less frequent trading of stocks of smaller market capitalization.

• the Fund may have a more concentrated portfolio than other funds, so it may be
more vulnerable to changes in the market value of a single issuer and may be
more susceptible to risks associated with a single economic, political or
regulatory occurrence than a fund that has a more diversified portfolio.

• the Fund may have substantial holdings within a particular sector, and
companies in similar industries may be similarly affected by particular economic
or market events.

An investment in a Fund is not a deposit of a bank and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or other government
agency.
Risk Lose Money [Text] rr_RiskLoseMoney As with any fund that invests in stocks, your investment will fluctuate in value, and the loss of your investment is a risk of investing.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in a Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and the table beneath it provide some indication of the
risks of investing in the Fund by showing changes in the Fund's performance from
year to year and by showing how the Fund's average annual returns for the
indicated periods compare with those of an appropriate benchmark of market
performance. Prior to December 31, 2012, the Fund followed different investment
strategies under the name "Alger Large Cap Growth Institutional Fund" and was
managed by different portfolio managers. Performance prior to December 31, 2012
reflects those management styles and does not reflect the current investment
personnel and strategies of the Fund. Remember that a Fund's past performance
(before and after taxes) is not necessarily an indication of how it will perform
in the future. Updated performance information is available on the Fund's
website www.alger.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and the table beneath it provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the indicated periods compare with those of an appropriate benchmark of market performance.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.alger.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Remember that a Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) [1]
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best Quarter:
Q2 2003    17.17%

Worst Quarter:
Q4 2008   -28.17%
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate In the foregoing table, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The after-tax returns shown may not be relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns for Class R Shares, which are not shown, will vary from those shown for Class I Shares.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher A "return after taxes on distributions and sale of fund shares" may sometimes be higher than the other two return figures; this happens where there is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock In the foregoing table, after-tax returns are calculated using the historical
highest individual federal marginal income tax rates and do not reflect the
impact of state and local taxes. Actual after-tax returns depend on an investor's
tax situation and may differ from those shown. The after-tax returns shown may not
be relevant to investors who hold their Fund shares through tax-deferred
arrangements, such as 401(k) plans or individual retirement accounts. After-tax
returns for Class R Shares, which are not shown, will vary from those shown for
Class I Shares. A "return after taxes on distributions and sale of fund shares"
may sometimes be higher than the other two return figures; this happens where
there is a capital loss on redemptions, giving rise to a tax benefit to the
shareholder.
Caption rr_AverageAnnualReturnCaption AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund | Russell 1000 Growth Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.50%
10 Years rr_AverageAnnualReturnYear10 2.60%
Since Inception rr_AverageAnnualReturnSinceInception 7.00%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993 [2]
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.71% [3]
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses (including shareholder servicing fees of .25%) rr_OtherExpensesOverAssets 1.12%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.83%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.68%) [4]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.15%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-30
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 117
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 509
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 927
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,092
Annual Return 2002 rr_AnnualReturn2002 (33.91%)
Annual Return 2003 rr_AnnualReturn2003 34.37%
Annual Return 2004 rr_AnnualReturn2004 4.80%
Annual Return 2005 rr_AnnualReturn2005 11.70%
Annual Return 2006 rr_AnnualReturn2006 4.64%
Annual Return 2007 rr_AnnualReturn2007 18.84%
Annual Return 2008 rr_AnnualReturn2008 (47.25%)
Annual Return 2009 rr_AnnualReturn2009 40.43%
Annual Return 2010 rr_AnnualReturn2010 13.80%
Annual Return 2011 rr_AnnualReturn2011 (0.73%)
Year to Date Return, Label rr_YearToDateReturnLabel Total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 11.17%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2003
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.17%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (28.17%)
Label rr_AverageAnnualReturnLabel Class I Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (0.73%)
5 Years rr_AverageAnnualReturnYear05 (0.11%)
10 Years rr_AverageAnnualReturnYear10 0.79%
Since Inception rr_AverageAnnualReturnSinceInception 6.85%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993 [2]
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Class I Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (0.73%)
5 Years rr_AverageAnnualReturnYear05 (0.19%)
10 Years rr_AverageAnnualReturnYear10 0.74%
Since Inception rr_AverageAnnualReturnSinceInception 5.40%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993 [2]
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Class I Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 (0.48%)
5 Years rr_AverageAnnualReturnYear05 (0.14%)
10 Years rr_AverageAnnualReturnYear10 0.64%
Since Inception rr_AverageAnnualReturnSinceInception 5.23%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993 [2]
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class R
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.71% [3]
Distribution (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50%
Other Expenses (including shareholder servicing fees of .25%) rr_OtherExpensesOverAssets 1.32%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.53%
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 2.53%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 256
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 788
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,345
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,866
Label rr_AverageAnnualReturnLabel Class R (Inception 1/27/03) Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (1.44%)
5 Years rr_AverageAnnualReturnYear05 (0.69%)
10 Years rr_AverageAnnualReturnYear10 0.24% [2]
Since Inception rr_AverageAnnualReturnSinceInception 6.30%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993 [2]
[1] Total return for Class I Shares for the nine months ended September 30, 2012 was 11.17%.
[2] Performance of the Fund's Class R Shares prior to January 27, 2003 reflects the performance of the Fund's Class I Shares, as adjusted with currently applicable sales charges and operating expenses, which differ from historical charges and expenses.
[3] Fred Alger Management, Inc. has adopted breakpoints for Alger Capital Appreciation Focus Fund. The management fee for assets over $1 billion is .60%.
[4] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class I Shares of the Fund to 1.15% of the Fund's average daily net assets. This expense reimbursement cannot be terminated.
XML 15 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
Document Type dei_DocumentType 485BPOS
Document Period End Date dei_DocumentPeriodEndDate Oct. 31, 2011
Registrant Name dei_EntityRegistrantName ALGER INSTITUTIONAL FUNDS
Central Index Key dei_EntityCentralIndexKey 0000911415
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Dec. 26, 2012
Document Effective Date dei_DocumentEffectiveDate Dec. 31, 2012
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol ALGRX
Alger Capital Appreciation Focus Fund (First Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class R
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol ALGIX
Alger Capital Appreciation Focus Fund (Second Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class Z
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol ALZFX
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class A
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol ALAFX
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class C
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Trading Symbol dei_TradingSymbol ALCFX
XML 16 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Dec. 31, 2012
Alger Capital Appreciation Focus Fund (Second Prospectus Summary) | Alger Capital Appreciation Focus Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Alger Capital Appreciation Focus Fund
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FUND FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy
and hold shares of the Fund. There are no sales charges on purchases
or redemptions. "Other Expenses" below are estimated assuming $1 million
in net assets. If actual net assets are less, the actual expense ratio
will be higher.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment) None
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading PORTFOLIO TURNOVER
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
Shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the examples, affect the Fund's performance.
During the fiscal year ended October 31, 2011, the Fund's portfolio turnover
rate was 57.74% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 57.74%
Expense Example [Heading] rr_ExpenseExampleHeading EXAMPLE
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The following examples are intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The examples assume
that you invest $10,000.00 in the Fund for the time periods indicated, that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses regardless of whether you redeemed your shares at the end of each period:
Strategy [Heading] rr_StrategyHeading PRINCIPAL INVESTMENT STRATEGY
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Fred Alger Management, Inc. believes companies undergoing Positive Dynamic
Change offer the best investment opportunities. Positive Dynamic Change
refers to companies realizing High Unit Volume Growth or companies undergoing
Positive Lifecycle Change. High Unit Volume Growth Companies are traditional
growth companies experiencing, for example, significantly growing demand or
market dominance. Positive Lifecycle Change companies are, for example,
companies benefiting from regulatory change, a new product introduction or
management change.

The Fund focuses on equity securities of companies of any capitalization that
Fred Alger Management, Inc. believes demonstrate promising growth potential.

The Fund intends to invest a substantial portion of its assets in a small number
of issuers, and may therefore concentrate its holdings in fewer business sectors
or industries. Generally the Fund will hold less than 50 securities. The number
of securities held by the Fund may occasionally exceed this range, including,
but not limited to, when the portfolio manager is accumulating new positions,
phasing out and replacing existing positions, or responding to unusual market
conditions. In addition, the Fund will seek to have an annual portfolio turnover
rate of less than 100%. From time to time, such as in situations described
above, the portfolio turnover rate may exceed 100%.

The Fund can also invest in derivative instruments. The Fund currently expects
that its primary use of derivatives will involve: (1) purchasing put and call
options and selling (writing) covered put and call options, on securities and
securities indexes, to increase gain, to hedge against the risk of unfavorable
price movements in the underlying securities, or to provide diversification of
risk, and (2) entering into forward currency contract to hedge the Fund's
foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar
denominated securities.
Risk [Heading] rr_RiskHeading PRINCIPAL RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any fund that invests in stocks, your investment will fluctuate in
value, and the loss of your investment is a risk of investing. The Fund's
price per share will fluctuate due to changes in the market prices of its
investments. Also, the Fund's investments may not grow as fast as the rate
of inflation and stocks tend to be more volatile than some other investments
you could make, such as bonds.
  
Prices of growth stocks tend to be higher in relation to their companies'
earnings and may be more sensitive to market, political and economic
developments than other stocks, making their prices more volatile. An investment
in the Fund may be better suited to investors who seek long-term capital growth
and can tolerate fluctuations in their investment's value. A small investment in
derivatives could have a potentially large impact on the Fund's performance.
When purchasing options, the Fund bears the risk that if the market value of the
underlying security does not move to a level that would make exercise of the
option profitable, the option will expire unexercised. When a call option
written by the Fund is exercised, the Fund will not participate in any increase
in the underlying security's value above the exercise price. When a put option
written by the Fund is exercised, the Fund will be required to purchase the
underlying security at a price in excess of its market value. Use of options on
securities indexes are subject to the risk that trading in the options may be
interrupted if trading in certain securities included in the index is interrupted,
the risk that price movements in the Fund's portfolio securities may not correlate
precisely with movements in the level of an index, and the risk that Fred Alger
Management, Inc. may not predict correctly movements in the direction of a
particular market or of the stock market generally. Because certain options may
require settlement in cash, the Fund may be forced to liquidate portfolio
securities to meet settlement obligations. Forward currency contracts are subject
to currency exchange rate risks, the risk of non-performance by the contract
counterparty, and the risk that Fred Alger Management, Inc. may not predict
accurately future foreign exchange rates.

The following risks may also apply:

• Investing in companies of all capitalizations involves the risk that smaller
issuers in which the Fund invests may have limited product lines or financial
resources, or lack management depth.

• the possibility that it may be difficult or impossible to liquidate a security
position at a time and price acceptable to the Fund because of the potentially
less frequent trading of stocks of smaller market capitalization.

• the Fund may have a more concentrated portfolio than other funds, so it may be
more vulnerable to changes in the market value of a single issuer and may be
more susceptible to risks associated with a single economic, political or
regulatory occurrence than a fund that has a more diversified portfolio.

• the Fund may have substantial holdings within a particular sector, and
companies in similar industries may be similarly affected by particular economic
or market events.

An investment in a Fund is not a deposit of a bank and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or other government
agency.
Risk Lose Money [Text] rr_RiskLoseMoney As with any fund that invests in stocks, your investment will fluctuate in value, and the loss of your investment is a risk of investing.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in a Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and the table beneath it provide some indication of
the risks of investing in the Fund by showing changes in the Fund's performance
from year to year and by showing how the Fund's average annual returns for the
indicated periods compare with those of an appropriate benchmark of market
performance. Class Z Shares were not offered prior to December 31, 2012.
Historical performance prior to December 31, 2012 is that of the Fund's Class I
Shares. Previously, the Fund followed different investment strategies under the
name "Alger Large Cap Growth Institutional Fund" and was managed by different
portfolio managers. Performance prior to December 31, 2012 reflects those
management styles and does not reflect the current investment personnel and
strategies of the Fund. Remember that a Fund's past performance (before and
after taxes) is not necessarily an indication of how it will perform in the
future. Updated performance information is available on the Fund's website
www.alger.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and the table beneath it provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the indicated periods compare with those of an appropriate benchmark of market performance.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.alger.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Remember that a Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) [1]
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best Quarter:
Q2 2003   17.17%

Worst Quarter:
Q4 2008  -28.17%
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate In the foregoing table, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The after-tax returns shown may not be relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher A "return after taxes on distributions and sale of fund shares" may sometimes be higher than the other two return figures; this happens where there is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock In the foregoing table, after-tax returns are calculated using the historical
highest individual federal marginal income tax rates and do not reflect the
impact of state and local taxes. Actual after-tax returns depend on an
investor's tax situation and may differ from those shown. The after-tax returns
shown may not be relevant to investors who hold their Fund shares through
tax-deferred arrangements, such as 401(k) plans or individual retirement
accounts. A "return after taxes on distributions and sale of fund shares" may
sometimes be higher than the other two return figures; this happens where there
is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.
Caption rr_AverageAnnualReturnCaption AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011
Alger Capital Appreciation Focus Fund (Second Prospectus Summary) | Alger Capital Appreciation Focus Fund | Russell 1000 Growth Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.50%
10 Years rr_AverageAnnualReturnYear10 2.60%
Since Inception rr_AverageAnnualReturnSinceInception 7.00%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993
Alger Capital Appreciation Focus Fund (Second Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class Z
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Management Fees rr_ManagementFeesOverAssets 0.71% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 2.22%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.93%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (2.04%) [3]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.89%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-30
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 91
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 714
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,362
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 3,106
Alger Capital Appreciation Focus Fund (Second Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Annual Return 2002 rr_AnnualReturn2002 (33.91%)
Annual Return 2003 rr_AnnualReturn2003 34.37%
Annual Return 2004 rr_AnnualReturn2004 4.80%
Annual Return 2005 rr_AnnualReturn2005 11.70%
Annual Return 2006 rr_AnnualReturn2006 4.64%
Annual Return 2007 rr_AnnualReturn2007 18.84%
Annual Return 2008 rr_AnnualReturn2008 (47.25%)
Annual Return 2009 rr_AnnualReturn2009 40.43%
Annual Return 2010 rr_AnnualReturn2010 13.80%
Annual Return 2011 rr_AnnualReturn2011 (0.73%)
Year to Date Return, Label rr_YearToDateReturnLabel Total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 11.17%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2003
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.17%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (28.17%)
Label rr_AverageAnnualReturnLabel Class I Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (0.73%)
5 Years rr_AverageAnnualReturnYear05 (0.11%)
10 Years rr_AverageAnnualReturnYear10 0.79%
Since Inception rr_AverageAnnualReturnSinceInception 6.85%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993
Alger Capital Appreciation Focus Fund (Second Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Class I Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (0.73%)
5 Years rr_AverageAnnualReturnYear05 (0.19%)
10 Years rr_AverageAnnualReturnYear10 0.74%
Since Inception rr_AverageAnnualReturnSinceInception 5.40%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993
Alger Capital Appreciation Focus Fund (Second Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Class I Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 (0.48%)
5 Years rr_AverageAnnualReturnYear05 (0.14%)
10 Years rr_AverageAnnualReturnYear10 0.64%
Since Inception rr_AverageAnnualReturnSinceInception 5.23%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993
[1] Total return for Class I Shares for the nine months ended September 30, 2012 was 11.17%.
[2] Fred Alger Management, Inc. has adopted breakpoints for Alger Capital Appreciation Focus Fund. The management fee for assets in excess of $1 billion is .60%.
[3] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class Z Shares of the Fund to .89% of the Fund's average daily net assets. This expense reimbursement cannot be terminated.
XML 17 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund
Alger Capital Appreciation Focus Fund
INVESTMENT OBJECTIVE
Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.
FUND FEES AND EXPENSES
This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund. You may qualify for sales charge discounts if you and your
family invest, or agree to invest in the future, at least $25,000 in Class A
Shares of the Alger Family of Funds, including the Fund. More information about
these and other discounts is available from your financial professional and in
"Purchasing and Redeeming Fund Shares" beginning on page A-2 of the Fund's
Prospectus and the sections "Right of Accumulation (Class A Shares)" and "Letter
of Intent (Class A Shares)" on page 14 of the Fund's Statement of Additional
Information. "Other Expenses" below are estimated assuming $1 million in net
assets. If actual net assets are less, the actual expense ratio will be higher.
Shareholder Fees (fees paid directly from your investment)
Shareholder Fees Alger Capital Appreciation Focus Fund
Class A
Class C
Maximum sales charge (load) imposed on purchases as a % of offering price 5.25% none
Maximum deferred sales charge (load) as a % of purchase price or redemption proceeds, whichever is lower 1.00% [1] 1.00%
Redemption Fee (as a % of amount redeemed or exchanged within 30 days) 2.00% 2.00%
[1] Purchases of $1 million of Class A Shares at net asset value may be subject to a contingent deferred sales charge of 1.00% on redemptions made within 12 months of purchase.
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses Alger Capital Appreciation Focus Fund
Class A
Class C
Management Fees [1][2] 0.71% 0.71%
Distribution and/or Service (12b-1) Fees 0.25% 1.00%
Other Expenses 0.92% 0.92%
Total Annual Fund Operating Expenses 1.88% 2.63%
Expense Reimbursement [3] 0.58% 0.58%
Total Annual Fund Operating Expenses After Expense Reimbursement 1.30% 2.05%
[1] Fred Alger Management, Inc. has adopted breakpoints for Alger Capital Appreciation Focus Fund. The management fee for assets in excess of $1 billion is .60%.
[2] Purchases of $1 million of Class A Shares at net asset value may be subject to a contingent deferred sales charge of 1.00% on redemptions made within 12 months of purchase.
[3] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class A Shares of the Fund to 1.30%, and Class C Shares of the Fund to 2.05%, of the Fund's average daily net assets. This expense reimbursement cannot be terminated.
EXAMPLE
The following examples are intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The examples assume
that you invest $10,000.00 in the Fund for the time periods indicated, that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same.
Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses if you redeemed your shares at the end of each period:
Expense Example Alger Capital Appreciation Focus Fund (USD $)
Expense Example, with Redemption, 1 Year
Expense Example, with Redemption, 3 Years
Expense Example, with Redemption, 5 Years
Expense Example, with Redemption, 10 Years
Class A
650 1,032 1,437 2,566
Class C
308 762 1,343 2,921
You would pay the following expenses if you did not redeem your shares:
Expense Example, No Redemption Alger Capital Appreciation Focus Fund (USD $)
Expense Example, No Redemption, 1 Year
Expense Example, No Redemption, 3 Years
Expense Example, No Redemption, 5 Years
Expense Example, No Redemption, 10 Years
Class A
650 1,032 1,437 2,566
Class C
208 762 1,343 2,921
PORTFOLIO TURNOVER
The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
Shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the examples, affect the Fund's performance.
During the fiscal year ended October 31, 2011, the Fund's portfolio turnover
rate was 57.74% of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGY
Fred Alger Management, Inc. believes companies undergoing Positive Dynamic
Change offer the best investment opportunities. Positive Dynamic Change
refers to companies realizing High Unit Volume Growth or companies undergoing
Positive Lifecycle Change. High Unit Volume Growth companies are traditional
growth companies experiencing, for example, significantly growing demand or
market dominance. Positive Lifecycle Change companies are, for example,
companies benefiting from regulatory change, a new product introduction or
management change.

The Fund focuses on equity securities of companies of any capitalization that
Fred Alger Management, Inc. believes demonstrate promising growth potential.

The Fund intends to invest a substantial portion of its assets in a small number
of issuers, and may therefore concentrate its holdings in fewer business sectors
or industries. Generally the Fund will hold less than 50 securities. The number
of securities held by the Fund may occasionally exceed this range, including,
but not limited to, when the portfolio manager is accumulating new positions,
phasing out and replacing existing positions, or responding to unusual market
conditions. In addition, the Fund will seek to have an annual portfolio turnover
rate of less than 100%. From time to time, such as in situations described
above, the portfolio turnover rate may exceed 100%.
  
The Fund can also invest in derivative instruments. The Fund currently expects
that its primary use of derivatives will involve: (1) purchasing put and call
options and selling (writing) covered put and call options, on securities and
securities indexes, to increase gain, to hedge against the risk of unfavorable
price movements in the underlying securities, or to provide diversification of
risk, and (2) entering into forward currency contract to hedge the Fund's
foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar
denominated securities.
PRINCIPAL RISKS
As with any fund that invests in stocks, your investment will fluctuate in
value, and the loss of your investment is a risk of investing. The Fund's
price per share will fluctuate due to changes in the market prices of its
investments. Also, the Fund's investments may not grow as fast as the rate
of inflation and stocks tend to be more volatile than some other investments
you could make, such as bonds.

Prices of growth stocks tend to be higher in relation to their companies'
earnings and may be more sensitive to market, political and economic developments
than other stocks, making their prices more volatile. An investment in the Fund
may be better suited to investors who seek long-term capital growth and can
tolerate fluctuations in their investment's value. A small investment in
derivatives could have a potentially large impact on the Fund's performance.
When purchasing options, the Fund bears the risk that if the market value of the
underlying security does not move to a level that would make exercise of the
option profitable, the option will expire unexercised. When a call option
written by the Fund is exercised, the Fund will not participate in any increase
in the underlying security's value above the exercise price. When a put option
written by the Fund is exercised, the Fund will be required to purchase the
underlying security at a price in excess of its market value. Use of options on
securities indexes are subject to the risk that trading in the options may be
interrupted if trading in certain securities included in the index is
interrupted, the risk that price movements in the Fund's portfolio securities
may not correlate precisely with movements in the level of an index, and the
risk that Fred Alger Management, Inc. may not predict correctly movements in the
direction of a particular market or of the stock market generally. Because
certain options may require settlement in cash, the Fund may be forced to
liquidate portfolio securities to meet settlement obligations. Forward currency
contracts are subject to currency exchange rate risks, the risk of
non-performance by the contract counterparty, and the risk that Fred Alger
Management, Inc. may not predict accurately future foreign exchange rates.

The following risks may also apply:

• Investing in companies of all capitalizations involves the risk that smaller
issuers in which the Fund invests may have limited product lines or financial
resources, or lack management depth.

• the possibility that it may be difficult or impossible to liquidate a security
position at a time and price acceptable to the Fund because of the potentially
less frequent trading of stocks of smaller market capitalization.

• the Fund may have a more concentrated portfolio than other funds, so it may be
more vulnerable to changes in the market value of a single issuer and may be
more susceptible to risks associated with a single economic, political or
regulatory occurrence than a fund that has a more diversified portfolio.

• the Fund may have substantial holdings within a particular sector, and companies
in similar industries may be similarly affected by particular economic or market
events.

An investment in a Fund is not a deposit of a bank and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or other government agency.
PERFORMANCE
The following bar chart and the table beneath it provide some indication of the
risks of investing in the Fund by showing changes in the Fund's performance from
year to year and by showing how the Fund's average annual returns for the
indicated periods compare with those of an appropriate benchmark of market
performance. Class A and Class C Shares were not offered prior to December 31,
2012. Historical performance prior to December 31, 2012 is that of the Fund's
Class I Shares. Previously, the Fund followed different investment strategies
under the name "Alger Large Cap Growth Institutional Fund" and was managed by
different portfolio managers. Performance prior to December 31, 2012 reflects
those management styles and does not reflect the current investment personnel
and strategies of the Fund. Remember that a Fund's past performance (before and
after taxes) is not necessarily an indication of how it will perform in the
future. Updated performance information is available on the Fund's website
www.alger.com.
ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) [1]
Bar Chart
Best Quarter:
Q2 2003   17.17%

Worst Quarter:
Q4 2008  -28.17%
AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011
Average Annual Total Returns Alger Capital Appreciation Focus Fund
Label
1 Year
5 Years
10 Years
Since Inception
Inception Date
Class I
Class I Return Before Taxes (0.73%) (0.11%) 0.79% 6.85% Nov. 08, 1993
Class I After Taxes on Distributions
Class I Return After Taxes on Distributions (0.73%) (0.19%) 0.74% 5.40% Nov. 08, 1993
Class I After Taxes on Distributions and Sales
Class I Return After Taxes on Distributions and Sale of Fund Shares (0.48%) (0.14%) 0.64% 5.23% Nov. 08, 1993
Russell 1000 Growth Index
Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes) 2.64% 2.50% 2.60% 7.00% Nov. 08, 1993
In the foregoing table, after-tax returns are calculated using the historical
highest individual federal marginal income tax rates and do not reflect the
impact of state and local taxes. Actual after-tax returns depend on an
investor's tax situation and may differ from those shown. The after-tax returns
shown may not be relevant to investors who hold their Fund shares through
tax-deferred arrangements, such as 401(k) plans or individual retirement
accounts. A "return after taxes on distributions and sale of fund shares" may
sometimes be higher than the other two return figures; this happens where there
is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.
[1] Total return for Class I Shares for the nine months ended September 30, 2012 was 11.17%.
XML 18 R21.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk Return [Abstract] rr_RiskReturnAbstract  
ProspectusDate rr_ProspectusDate Dec. 31, 2012
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Alger Capital Appreciation Focus Fund
Objective [Heading] rr_ObjectiveHeading INVESTMENT OBJECTIVE
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock Alger Capital Appreciation Focus Fund seeks long-term capital appreciation.
Expense [Heading] rr_ExpenseHeading FUND FEES AND EXPENSES
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold
shares of the Fund. You may qualify for sales charge discounts if you and your
family invest, or agree to invest in the future, at least $25,000 in Class A
Shares of the Alger Family of Funds, including the Fund. More information about
these and other discounts is available from your financial professional and in
"Purchasing and Redeeming Fund Shares" beginning on page A-2 of the Fund's
Prospectus and the sections "Right of Accumulation (Class A Shares)" and "Letter
of Intent (Class A Shares)" on page 14 of the Fund's Statement of Additional
Information. "Other Expenses" below are estimated assuming $1 million in net
assets. If actual net assets are less, the actual expense ratio will be higher.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees (fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading PORTFOLIO TURNOVER
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate
may indicate higher transaction costs and may result in higher taxes when Fund
Shares are held in a taxable account. These costs, which are not reflected in
annual fund operating expenses or in the examples, affect the Fund's performance.
During the fiscal year ended October 31, 2011, the Fund's portfolio turnover
rate was 57.74% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 57.74%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in Class A Shares of the Alger Family of Funds, including the Fund.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount 25,000
Expense Example [Heading] rr_ExpenseExampleHeading EXAMPLE
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The following examples are intended to help you compare the cost of investing in
the Fund with the cost of investing in other mutual funds. The examples assume
that you invest $10,000.00 in the Fund for the time periods indicated, that your
investment has a 5% return each year and that the Fund's operating expenses
remain the same.
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses if you redeemed your shares at the end of each period:
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption You would pay the following expenses if you did not redeem your shares:
Strategy [Heading] rr_StrategyHeading PRINCIPAL INVESTMENT STRATEGY
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock Fred Alger Management, Inc. believes companies undergoing Positive Dynamic
Change offer the best investment opportunities. Positive Dynamic Change
refers to companies realizing High Unit Volume Growth or companies undergoing
Positive Lifecycle Change. High Unit Volume Growth companies are traditional
growth companies experiencing, for example, significantly growing demand or
market dominance. Positive Lifecycle Change companies are, for example,
companies benefiting from regulatory change, a new product introduction or
management change.

The Fund focuses on equity securities of companies of any capitalization that
Fred Alger Management, Inc. believes demonstrate promising growth potential.

The Fund intends to invest a substantial portion of its assets in a small number
of issuers, and may therefore concentrate its holdings in fewer business sectors
or industries. Generally the Fund will hold less than 50 securities. The number
of securities held by the Fund may occasionally exceed this range, including,
but not limited to, when the portfolio manager is accumulating new positions,
phasing out and replacing existing positions, or responding to unusual market
conditions. In addition, the Fund will seek to have an annual portfolio turnover
rate of less than 100%. From time to time, such as in situations described
above, the portfolio turnover rate may exceed 100%.
  
The Fund can also invest in derivative instruments. The Fund currently expects
that its primary use of derivatives will involve: (1) purchasing put and call
options and selling (writing) covered put and call options, on securities and
securities indexes, to increase gain, to hedge against the risk of unfavorable
price movements in the underlying securities, or to provide diversification of
risk, and (2) entering into forward currency contract to hedge the Fund's
foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar
denominated securities.
Risk [Heading] rr_RiskHeading PRINCIPAL RISKS
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock As with any fund that invests in stocks, your investment will fluctuate in
value, and the loss of your investment is a risk of investing. The Fund's
price per share will fluctuate due to changes in the market prices of its
investments. Also, the Fund's investments may not grow as fast as the rate
of inflation and stocks tend to be more volatile than some other investments
you could make, such as bonds.

Prices of growth stocks tend to be higher in relation to their companies'
earnings and may be more sensitive to market, political and economic developments
than other stocks, making their prices more volatile. An investment in the Fund
may be better suited to investors who seek long-term capital growth and can
tolerate fluctuations in their investment's value. A small investment in
derivatives could have a potentially large impact on the Fund's performance.
When purchasing options, the Fund bears the risk that if the market value of the
underlying security does not move to a level that would make exercise of the
option profitable, the option will expire unexercised. When a call option
written by the Fund is exercised, the Fund will not participate in any increase
in the underlying security's value above the exercise price. When a put option
written by the Fund is exercised, the Fund will be required to purchase the
underlying security at a price in excess of its market value. Use of options on
securities indexes are subject to the risk that trading in the options may be
interrupted if trading in certain securities included in the index is
interrupted, the risk that price movements in the Fund's portfolio securities
may not correlate precisely with movements in the level of an index, and the
risk that Fred Alger Management, Inc. may not predict correctly movements in the
direction of a particular market or of the stock market generally. Because
certain options may require settlement in cash, the Fund may be forced to
liquidate portfolio securities to meet settlement obligations. Forward currency
contracts are subject to currency exchange rate risks, the risk of
non-performance by the contract counterparty, and the risk that Fred Alger
Management, Inc. may not predict accurately future foreign exchange rates.

The following risks may also apply:

• Investing in companies of all capitalizations involves the risk that smaller
issuers in which the Fund invests may have limited product lines or financial
resources, or lack management depth.

• the possibility that it may be difficult or impossible to liquidate a security
position at a time and price acceptable to the Fund because of the potentially
less frequent trading of stocks of smaller market capitalization.

• the Fund may have a more concentrated portfolio than other funds, so it may be
more vulnerable to changes in the market value of a single issuer and may be
more susceptible to risks associated with a single economic, political or
regulatory occurrence than a fund that has a more diversified portfolio.

• the Fund may have substantial holdings within a particular sector, and companies
in similar industries may be similarly affected by particular economic or market
events.

An investment in a Fund is not a deposit of a bank and is not insured or guaranteed
by the Federal Deposit Insurance Corporation or other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney As with any fund that invests in stocks, your investment will fluctuate in value, and the loss of your investment is a risk of investing.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in a Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading PERFORMANCE
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The following bar chart and the table beneath it provide some indication of the
risks of investing in the Fund by showing changes in the Fund's performance from
year to year and by showing how the Fund's average annual returns for the
indicated periods compare with those of an appropriate benchmark of market
performance. Class A and Class C Shares were not offered prior to December 31,
2012. Historical performance prior to December 31, 2012 is that of the Fund's
Class I Shares. Previously, the Fund followed different investment strategies
under the name "Alger Large Cap Growth Institutional Fund" and was managed by
different portfolio managers. Performance prior to December 31, 2012 reflects
those management styles and does not reflect the current investment personnel
and strategies of the Fund. Remember that a Fund's past performance (before and
after taxes) is not necessarily an indication of how it will perform in the
future. Updated performance information is available on the Fund's website
www.alger.com.
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The following bar chart and the table beneath it provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the indicated periods compare with those of an appropriate benchmark of market performance.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress www.alger.com
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture Remember that a Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future.
Bar Chart [Heading] rr_BarChartHeading ANNUAL TOTAL RETURN FOR CLASS I SHARES as of December 31 (%) [1]
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Best Quarter:
Q2 2003   17.17%

Worst Quarter:
Q4 2008  -28.17%
Index No Deduction for Fees, Expenses, Taxes [Text] rr_IndexNoDeductionForFeesExpensesTaxes reflects no deduction for fees, expenses or taxes
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate In the foregoing table, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The after-tax returns shown may not be relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table Explanation after Tax Higher rr_PerformanceTableExplanationAfterTaxHigher A "return after taxes on distributions and sale of fund shares" may sometimes be higher than the other two return figures; this happens where there is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.
Performance Table Closing [Text Block] rr_PerformanceTableClosingTextBlock In the foregoing table, after-tax returns are calculated using the historical
highest individual federal marginal income tax rates and do not reflect the
impact of state and local taxes. Actual after-tax returns depend on an
investor's tax situation and may differ from those shown. The after-tax returns
shown may not be relevant to investors who hold their Fund shares through
tax-deferred arrangements, such as 401(k) plans or individual retirement
accounts. A "return after taxes on distributions and sale of fund shares" may
sometimes be higher than the other two return figures; this happens where there
is a capital loss on redemptions, giving rise to a tax benefit to the shareholder.
Caption rr_AverageAnnualReturnCaption AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2011
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund | Russell 1000 Growth Index
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Russell 1000 Growth Index (reflects no deduction for fees, expenses or taxes)
1 Year rr_AverageAnnualReturnYear01 2.64%
5 Years rr_AverageAnnualReturnYear05 2.50%
10 Years rr_AverageAnnualReturnYear10 2.60%
Since Inception rr_AverageAnnualReturnSinceInception 7.00%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class A
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.25%
Maximum deferred sales charge (load) as a % of purchase price or redemption proceeds, whichever is lower rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00% [2]
Redemption Fee (as a % of amount redeemed or exchanged within 30 days) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 0.71% [2],[3]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.92%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.88%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.58%) [4]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.30%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-30
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 650
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,032
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,437
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,566
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 650
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 1,032
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,437
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 2,566
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class C
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Maximum sales charge (load) imposed on purchases as a % of offering price rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum deferred sales charge (load) as a % of purchase price or redemption proceeds, whichever is lower rr_MaximumDeferredSalesChargeOverOfferingPrice 1.00%
Redemption Fee (as a % of amount redeemed or exchanged within 30 days) rr_RedemptionFeeOverRedemption (2.00%)
Management Fees rr_ManagementFeesOverAssets 0.71% [2],[3]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.92%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.63%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets (0.58%) [4]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 2.05%
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination 2013-12-30
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 308
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 762
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,343
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,921
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 208
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 762
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,343
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 2,921
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Annual Return 2002 rr_AnnualReturn2002 (33.91%)
Annual Return 2003 rr_AnnualReturn2003 34.37%
Annual Return 2004 rr_AnnualReturn2004 4.80%
Annual Return 2005 rr_AnnualReturn2005 11.70%
Annual Return 2006 rr_AnnualReturn2006 4.64%
Annual Return 2007 rr_AnnualReturn2007 18.84%
Annual Return 2008 rr_AnnualReturn2008 (47.25%)
Annual Return 2009 rr_AnnualReturn2009 40.43%
Annual Return 2010 rr_AnnualReturn2010 13.80%
Annual Return 2011 rr_AnnualReturn2011 (0.73%)
Year to Date Return, Label rr_YearToDateReturnLabel Total return
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2012
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 11.17%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2003
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 17.17%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (28.17%)
Label rr_AverageAnnualReturnLabel Class I Return Before Taxes
1 Year rr_AverageAnnualReturnYear01 (0.73%)
5 Years rr_AverageAnnualReturnYear05 (0.11%)
10 Years rr_AverageAnnualReturnYear10 0.79%
Since Inception rr_AverageAnnualReturnSinceInception 6.85%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I | After Taxes on Distributions
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Class I Return After Taxes on Distributions
1 Year rr_AverageAnnualReturnYear01 (0.73%)
5 Years rr_AverageAnnualReturnYear05 (0.19%)
10 Years rr_AverageAnnualReturnYear10 0.74%
Since Inception rr_AverageAnnualReturnSinceInception 5.40%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993
Alger Capital Appreciation Focus Fund (Third Prospectus Summary) | Alger Capital Appreciation Focus Fund | Class I | After Taxes on Distributions and Sales
 
Risk Return [Abstract] rr_RiskReturnAbstract  
Label rr_AverageAnnualReturnLabel Class I Return After Taxes on Distributions and Sale of Fund Shares
1 Year rr_AverageAnnualReturnYear01 (0.48%)
5 Years rr_AverageAnnualReturnYear05 (0.14%)
10 Years rr_AverageAnnualReturnYear10 0.64%
Since Inception rr_AverageAnnualReturnSinceInception 5.23%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 08, 1993
[1] Total return for Class I Shares for the nine months ended September 30, 2012 was 11.17%.
[2] Purchases of $1 million of Class A Shares at net asset value may be subject to a contingent deferred sales charge of 1.00% on redemptions made within 12 months of purchase.
[3] Fred Alger Management, Inc. has adopted breakpoints for Alger Capital Appreciation Focus Fund. The management fee for assets in excess of $1 billion is .60%.
[4] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through December 30, 2013 to the extent necessary to limit the total annual fund operating expenses of the Class A Shares of the Fund to 1.30%, and Class C Shares of the Fund to 2.05%, of the Fund's average daily net assets. This expense reimbursement cannot be terminated.
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