497 1 c37253_497.txt THE ALGER FUNDS SUPPLEMENT DATED MAY 1, 2005 TO THE STATEMENT OF ADDITIONAL INFORMATION DATED FEBRUARY 18, 2005 This supplement amends the Statement of Additional Information ("SAI") dated February 18, 2005 as described below. 1. The penultimate sentence of the 2nd paragraph under the caption "Trustees and Officers of the Trust" on page 23 is deleted and replaced with the following. The address of Messrs. Alger and Chung is 111 Fifth Avenue, New York, NY 10003; that of Mr. Blum is 30 Montgomery Street, Jersey City, NJ 07302. 2. The biographies under the caption "Trustees and Officers of the Trust" on page 23 are deleted and replaced with the following.
Number of Portfolios in the Alger Fund Complex Trustee which are Name, Age, Position with and/or Overseen the Trust Principal Occupations During Past 5 Years Officer Since by Trustee ---------------------------------------------------------------------------------------------------------------------- INTERESTED TRUSTEES Fred M. Alger III (70) Chairman of the Board of Alger Associates, Inc. 1988 22 Chairman of the Board ("Associates"), Fred Alger & Company, and President Incorporated ("Alger Inc."), Alger Management, Alger Properties, Inc. ("Properties"), Alger Shareholder Services, Inc. ("Services"), Alger Life Insurance Agency, Inc. ("Agency"), Fred Alger International Advisory S.A. ("International"), five of the six investment companies in the Alger Fund Complex, Alger SICAV ("SICAV") and Analysts Resources, Inc. ("ARI"). Dan C. Chung (42) President since September 2003 and Chief 2001 16 Trustee and Investment Officer and Director since 2001 of President Alger Management; President since 2003 and Director since 2001 of Associates, Properties, Services, Agency, International (Director since 2003), Alger National Trust Company ("Trust") and ARI; President of the other five investment companies in the Alger Fund Complex since September 2003; Trustee/Director of four of the six investment
1 Number of Portfolios in the Alger Fund Complex Trustee which are Name, Age, Position with and/or Overseen the Trust Principal Occupations During Past 5 Years Officer Since by Trustee ---------------------------------------------------------------------------------------------------------------------- companies in the Alger Fund Complex since 2001; senior analyst with Alger Management 1998-2001. Hilary M. Alger, Trustee/Director of five of the six investment 2003 17 CFA (43) Trustee companies in the Alger Fund Complex since 2003; Director of Development, Pennsylvania Ballet since 2004; Associate Director of Development, College of Arts and Sciences and Graduate School, University of Virginia 1999-2003; Director of Development and Communications, Lenox Hill Neighborhood House 1997-99. NON-INTERESTED TRUSTEES Stephen E. O'Neil (72) Attorney; Private investor since 1981; Trustee/ 1988 23 Trustee Director of the six investment companies in the Alger Fund Complex; formerly of Counsel to the law firm of Kohler & Barnes. Charles F. Baird, Jr. (51) Managing Partner of North Castle Partners, a 2000 16 Trustee private equity securities group; Chairman of Equinox, Leiner Health Products, Elizabeth Arden Day Spas, Grand Expeditions of EAS; Trustee/Director of four of the six investment companies in the Alger Fund Complex. Formerly Managing Director of AEA Investors, Inc. Roger P. Cheever (59) Associate Dean of Development, Harvard University; 2000 16 Trustee Trustee/Director of four of the six investment companies in the Alger Fund Complex. Formerly Deputy Director of the Harvard College Fund. Lester L. Colbert, Jr. (71) Private investor since 1988; Trustee/Director of three 2000 17 Trustee of the six investment companies in the Alger Fund Complex since 2000, of one since 2003, and of another since 1974. Chairman of the Board, President and Chief Executive Officer of Xidex Corporation 1972-87. Nathan E. Saint-Amand, Medical doctor in private practice; Member of the 1988 23 M.D. (67) Board of the Manhattan Institute; Trustee/Director Trustee of the six investment companies in the Alger Fund Complex. Formerly Co-Chairman Special Projects Committee of Memorial Sloan Kettering.
2 Number of Portfolios in the Alger Fund Complex Trustee which are Name, Age, Position with and/or Overseen the Trust Principal Occupations During Past 5 Years Officer Since by Trustee ---------------------------------------------------------------------------------------------------------------------- OFFICERS Frederick A. Blum (51) Executive Vice President and Treasurer of 1996 N/A Treasurer and Alger Inc., Alger Management, Properties, Assistant Secretary Associates, ARI, Services and Agency since September 2003 and Senior Vice President prior thereto; Treasurer or Assistant Treasurer, and Assistant Secretary, of the six investment companies in the Alger Fund Complex; Director of SICAV and International and Chairman of the Board (and prior thereto Senior Vice President) and Treasurer of Trust since 2003.
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