0001104659-13-047958.txt : 20130610 0001104659-13-047958.hdr.sgml : 20130610 20130610104938 ACCESSION NUMBER: 0001104659-13-047958 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 7 FILED AS OF DATE: 20130610 DATE AS OF CHANGE: 20130610 EFFECTIVENESS DATE: 20130610 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALGER FUNDS CENTRAL INDEX KEY: 0000003521 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 033-04959 FILM NUMBER: 13902389 BUSINESS ADDRESS: STREET 1: 360 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212-806-8833 MAIL ADDRESS: STREET 1: 360 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: ALGER FUND DATE OF NAME CHANGE: 19920703 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ALGER FUNDS CENTRAL INDEX KEY: 0000003521 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-01355 FILM NUMBER: 13902390 BUSINESS ADDRESS: STREET 1: 360 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 BUSINESS PHONE: 212-806-8833 MAIL ADDRESS: STREET 1: 360 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10010 FORMER COMPANY: FORMER CONFORMED NAME: ALGER FUND DATE OF NAME CHANGE: 19920703 0000003521 S000009159 Alger International Growth Fund C000024900 Alger International Growth Fund Class A ALGAX C000024901 Alger International Growth Fund Class B AFGPX C000024902 Alger International Growth Fund Class C ALGCX C000039971 Alger International Growth Fund Class I AIGIX C000095957 Alger International Growth Fund Class Z ALCZX 0000003521 S000009160 Alger SmallCap Growth Fund C000024903 Alger SmallCap Growth Fund Class A ALSAX C000024904 Alger SmallCap Growth Fund Class B ALSCX C000024905 Alger SmallCap Growth Fund Class C AGSCX C000095958 Alger SmallCap Growth Fund Class Z ASCZX 0000003521 S000009161 Alger Growth & Income Fund C000024906 Alger Growth & Income Fund Class A ALBAX C000024908 Alger Growth & Income Fund Class C ALBCX C000111113 Alger Growth & Income Fund Class Z AGIZX 0000003521 S000009162 Alger MidCap Growth Fund C000024909 Alger MidCap Growth Fund Class A AMGAX C000024910 Alger MidCap Growth Fund Class B AMCGX C000024911 Alger MidCap Growth Fund Class C AMGCX 0000003521 S000009163 Alger Capital Appreciation Fund C000024912 Alger Capital Appreciation Fund Class A ACAAX C000024913 Alger Capital Appreciation Fund Class B ACAPX C000024914 Alger Capital Appreciation Fund Class C ALCCX C000095959 Alger Capital Appreciation Fund Class Z ACAZX 0000003521 S000009164 Alger Health Sciences Fund C000024915 Alger Health Sciences Fund Class A AHSAX C000024916 Alger Health Sciences Fund Class B AHSBX C000024917 Alger Health Sciences Fund Class C AHSCX 0000003521 S000009165 Alger SMidCap Growth Fund C000024918 Alger SMidCap Growth Fund Class A ALMAX C000024919 Alger SMidCap Growth Fund Class B ALMBX C000024920 Alger SMidCap Growth Fund Class C ALMCX C000051550 Alger SMidCap Growth Fund Class I ASIMX C000095960 Alger SMidCap Growth Fund Class Z ASMZX 0000003521 S000020958 Alger Growth Opportunities Fund C000059337 Alger Growth Opportunities Fund Class A AOFAX C000059339 Alger Growth Opportunities Fund Class C AOFCX C000059340 Alger Growth Opportunities Fund Class I AOFIX C000095961 Alger Growth Opportunities Fund Class Z AGOZX 485BPOS 1 a13-7574_14485bpos.htm 485BPOS

 

As filed with the Securities and Exchange Commission on June 10, 2013

 

Securities Act File No. 33-4959

Investment Company Act File No. 811-1355

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM N-1A

 

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

 

x

 

 

 

     Pre-Effective Amendment No.

 

o

 

     Post-Effective Amendment No. 77

 

x

 

     and/or

 

 

 

 

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 

x

 

     Amendment No. 79

 

x

 

(Check appropriate box or boxes)

 

THE ALGER FUNDS

(a Massachusetts business trust)

(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, New York 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        This 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 it meets all the requirements for effectiveness of this registration statement under Rule 485(b) under the Securities Act of 1933 and has duly caused this Post-Effective Amendment to the registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of  New York and State of New York on the 10th day of June, 2013.

 

 

 

THE ALGER FUNDS

 

 

 

 

 

By: /s/ Hal Liebes

 

 

Hal Liebes

 

President

 

 

 

 

ATTEST: /s/

Lisa A. Moss

 

 

 

Lisa A. Moss, Assistant 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.

 

SIGNATURE

 

TITLE

 

DATE

 

 

 

 

 

/s/ Hal Liebes

 

 

President

 

June 10, 2013

Hal Liebes

 

 

(Principal Executive Officer)

 

 

 

 

 

 

 

 

/s/ Michael D. Martins

 

 

Treasurer

 

June 10, 2013

Michael D. Martins

 

 

(Chief Financial Officer)

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

June 10, 2013

Charles F. Baird, Jr.

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

June 10, 2013

Roger P. Cheever

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

June 10, 2013

Lester L. Colbert, Jr.

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

June 10, 2013

Hilary M. Alger

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

June 10, 2013

Nathan E. Saint-Amand

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

June 10, 2013

Stephen E. O’Neil

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

June 10, 2013

David Rosenberg

 

 

 

 

 

 


*By: /s/ Hal Liebes

 

 

 

 

 

 Hal Liebes

 

 

 

 

 

 Attorney-In-Fact

 

 

 

 

 

 



 

EXHIBIT INDEX

 

Index 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

 

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0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009159Member rr:AfterTaxesOnDistributionsAndSalesMember ck0000003521:C000095957Member 2012-10-31 2012-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009159Member ck0000003521:index_MSCI_ACWI_ex_USA_reflects_no_deduction_for_fees_expenses_or_taxesMember ck0000003521:C000095957Member 2012-10-31 2012-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009159Member ck0000003521:index_MSCI_EAFE_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember ck0000003521:C000095957Member 2012-10-31 2012-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009159Member ck0000003521:index_Russell_1000_Growth_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember ck0000003521:C000095957Member 2012-10-31 2012-10-31 xbrli:pure iso4217:USD Performance of the Fund's Class C Shares prior to July 31, 1997 reflects the performance of the Fund's Class A Shares, as adjusted with currently applicable sales charges and operating expenses, which differ from historical charges and expenses. Since inception performance of the Fund's Class B Shares is available upon request. 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 May 30, 2014 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 class's average daily net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (including interest, taxes, brokerage, and extraordinary expenses) through May 30, 2014 to the extent necessary to limit the total annual fund operating expenses of the Class Z Shares of the Fund to .89% of the class's average daily net assets. This expense reimbursement cannot be terminated. ALGER FUNDS 485BPOS false 0000003521 2012-10-31 2013-05-28 2013-05-31 2013-03-01 Alger International Growth Fund ALGAX AFGPX ALGCX PORTFOLIO TURNOVER <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 most recent fiscal year, the Fund's portfolio turnover rate was 148.66% of the average value of its portfolio.</font> </p> 1.4866 PRINCIPAL RISKS <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies.</font> </p> <br/><p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 <font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 and the risk of non-performance by the contract counterparty.</font><br /> </font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The following risks also apply:</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;it may be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font> </p> 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. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. PRINCIPAL INVESTMENT STRATEGY <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose principal trading market is in a foreign country; or (iii) that have a majority of their assets, or that derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is a market capitalization weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund may also compare its performance to the MSCI Europe, Australasia, and Far East (EAFE) Index, which is an unmanaged, market capitalization-weighted index that is designed to measure the performance of publicly traded stocks issued by companies in developed markets, excluding the United States and Canada. While the MSCI EAFE Index excludes stocks of Canadian companies, the Fund may invest in such stocks.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> PERFORMANCE <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 in the bar chart does not reflect the effect of the sales charge imposed on purchases of Class A Shares of the Fund. If the bar chart reflected the applicable sales charges, returns would be less than those shown. Previously, the Fund followed different investment strategies under the name "Alger Large Cap Growth Fund" and was managed by a different portfolio manager. Performance prior to May 31, 2013 reflects that management style and does not reflect the Fund's current investment strategies and investment personnel. Prior to May 31, 2013, the Fund compared its performance to the Russell 1000 Growth Index. The Fund will compare its performance to the MSCI ACWI ex USA Index to better reflect its investment strategies. Remember that the 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 <u>www.alger.com</u>.</font> </p> ANNUAL TOTAL RETURN FOR CLASS A SHARES as of December 31 (%) 0.3458 0.0567 0.1145 0.0491 0.1950 -0.4583 0.4097 0.1267 -0.0051 0.0931 ~ http://alger.com/20130528/role/ScheduleAnnualTotalReturnsBarChart20005 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_ABC_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member column rr_ProspectusShareClassAxis compact ck0000003521_C000024900Member row primary compact * ~ Best Quarter: 0.1739 2003-06-30 Worst Quarter: -0.2633 2008-12-31 total return for Class A Shares 0.0839 2013-03-31 <p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Best Quarter: </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Q2 2003 17.39% </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Worst Quarter: </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Q4 2008 -26.33% </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The total return for Class A Shares for the three months ended March 31, 2013 was 8.39%.</font> </p> 0.0358 -0.0237 0.0583 0.0482 0.0331 -0.0246 0.0579 0.0399 0.0233 -0.0205 0.0510 0.0382 0.0361 -0.0238 0.0582 0.0478 0.0752 -0.0208 0.0561 0.0456 0.1739 -0.0244 0.1022 0.0551 0.1790 -0.0321 0.0870 0.0462 0.1526 0.0312 0.0752 0.0510 1996-12-31 1996-12-31 1996-12-31 1996-12-31 1996-12-31 1996-12-31 ~ http://alger.com/20130528/role/ScheduleAverageAnnualReturnsTransposed20006 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_ABC_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin:12pt 0pt 3pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 B and Class C Shares, which are not shown, will vary from those shown for Class A 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.</font> </p> 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. 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. Remember that the Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax returns for Class B and Class C Shares, which are not shown, will vary from those shown for Class A Shares. (reflects no deduction for fees, expenses or taxes) 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 in the bar chart does not reflect the effect of the sales charge imposed on purchases of Class A Shares of the Fund. If the bar chart reflected the applicable sales charges, returns would be less than those shown. Prior to May 31, 2013, the Fund compared its performance to the Russell 1000 Growth Index. The Fund will compare its performance to the MSCI ACWI ex USA Index to better reflect its investment strategies. www.alger.com AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2012 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. FUND FEES AND EXPENSES <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 26 of the Fund's Statement of Additional Information. Total Annual Fund Operating Expenses are as of October 31, 2012, revised to reflect current fees.</font> </p> 0.0525 0.0000 0.0000 0.0100 0.0500 0.0100 -0.0200 -0.0200 -0.0200 0.0071 0.0071 0.0071 0.0025 0.0100 0.0100 0.0049 0.0038 0.0049 0.0145 0.0209 0.0220 ~ http://alger.com/20130528/role/ScheduleShareholderFees20001 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_ABC_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member row primary compact * ~ ~ http://alger.com/20130528/role/ScheduleAnnualFundOperatingExpenses20002 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_ABC_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member row primary compact * ~ 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. Total Annual Fund Operating Expenses are as of October 31, 2012, revised to reflect current fees. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 25000 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. Shareholder Fees (fees paid directly from your investment) INVESTMENT OBJECTIVE <p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:8pt; font-family: Arial, Helvetica;">Alger International Growth Fund seeks long-term capital appreciation.</font> </p> EXAMPLE <p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 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.</font></p> 665 960 1276 2169 712 955 1324 2257 323 688 1180 2534 665 960 1276 2169 212 655 1124 2257 223 688 1180 2534 ~ http://alger.com/20130528/role/ScheduleExpenseExampleTransposed20003 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_ABC_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member row primary compact * ~ ~ http://alger.com/20130528/role/ScheduleExpenseExampleNoRedemptionTransposed20004 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_ABC_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member row primary compact * ~ 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: You would pay the following expenses if you did not redeem your shares: Alger Health Sciences Fund AHSAX AHSBX AHSCX PORTFOLIO TURNOVER <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 most recent fiscal year, the Fund's portfolio turnover rate was 110.37% of the average value of its portfolio.</font> </p> 1.1037 PRINCIPAL RISKS <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 and the risk of non-performance by the contract counterparty.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The following risks also apply:</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;the cost of borrowing money to leverage may exceed the returns for the securities purchased or the securities purchased may actually go down in value; thus, the Fund's net asset value could decrease more quickly than if it had not borrowed.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;since the Fund concentrates its investments in the health sciences sector, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore, because many of the industries in the health sciences sector are subject to substantial government regulation, changes in applicable regulations could adversely affect companies in those industries. In addition, the comparative rapidity of product development and technological advancement in many areas of the sector may be reflected in greater volatility of the stocks of companies operating in those areas.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font> </p> 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. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. PRINCIPAL INVESTMENT STRATEGY <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies of any market capitalization that are engaged in the health sciences sector. A company will be considered to be engaged in the health sciences sector if it derives at least 50% of its earnings or revenues from, or devotes at least 50% of its assets to, activities in any area of the health sciences sector, including health care services, pharmaceuticals, medical equipment and supplies and applied research and development. Such companies include, but are not limited to:</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;hospitals, clinical test laboratories, convalescent and mental health care facilities, home care providers, and companies that supply services to any of the foregoing;</font> </p> <br/><p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Arial, Helvetica;"><strong>&#8226;</strong></font><font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;companies involved in pharmaceuticals, biotechnology, biochemistry and diagnostics; and</font> </p> <br/><p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Arial, Helvetica;"><strong>&#8226;</strong></font><font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;producers and manufacturers of medical, dental and optical supplies and equipment.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund can leverage, that is, borrow money to buy additional securities. By borrowing money, the Fund has the potential to increase its returns if the increase in the value of the securities purchased exceeds the cost of borrowing, including interest paid on the money borrowed.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> PERFORMANCE <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 in the bar chart does not reflect the effect of the sales charge imposed on purchases of Class A Shares of the Fund. If the bar chart reflected the applicable sales charges, returns would be less than those shown. Remember that the 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 <u>www.alger.com</u>.</font> </p> ANNUAL TOTAL RETURN FOR CLASS A SHARES as of December 31 (%) 0.4134 0.1810 0.1824 0.0926 0.1609 -0.2616 0.2738 0.0299 0.1060 0.1138 ~ http://alger.com/20130528/role/ScheduleAnnualTotalReturnsBarChart20013 column dei_LegalEntityAxis compact ck0000003521_S000009164Member column rr_ProspectusShareClassAxis compact ck0000003521_C000024915Member row primary compact * ~ Best Quarter: 0.1675 2003-06-30 Worst Quarter: -0.1620 2008-12-31 <p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Best Quarter: </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Q2 2003 16.75% </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Worst Quarter: </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Q4 2008 -16.20% </p> 0.0552 0.0248 0.1096 0.0936 0.0362 0.0211 0.1012 0.0857 0.0578 0.0209 0.0941 0.0798 0.0561 0.0238 0.1088 0.0927 0.0955 0.0279 0.1072 0.0908 0.1600 0.0166 0.0710 0.0467 2002-05-01 2002-05-01 2002-05-01 2002-05-01 ~ http://alger.com/20130528/role/ScheduleAverageAnnualReturnsTransposed20014 column dei_LegalEntityAxis compact ck0000003521_S000009164Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin:13pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 B and C Shares, which are not shown, will vary from those shown for Class A 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.</font> </p> 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. 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. Remember that the Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. After-tax returns for Class B and C Shares, which are not shown, will vary from those shown for Class A Shares. (reflects no deduction for fees, expenses or taxes) 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 in the bar chart does not reflect the effect of the sales charge imposed on purchases of Class A Shares of the Fund. If the bar chart reflected the applicable sales charges, returns would be less than those shown. www.alger.com AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2012 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. FUND FEES AND EXPENSES <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 26 of the Fund's Statement of Additional Information.</font> </p> 0.0525 0.0000 0.0000 0.0100 0.0500 0.0100 -0.0200 -0.0200 -0.0200 0.0081 0.0081 0.0081 0.0025 0.0100 0.0100 0.0031 0.0035 0.0033 0.0137 0.0216 0.0214 ~ http://alger.com/20130528/role/ScheduleShareholderFees20009 column dei_LegalEntityAxis compact ck0000003521_S000009164Member row primary compact * ~ ~ http://alger.com/20130528/role/ScheduleAnnualFundOperatingExpenses20010 column dei_LegalEntityAxis compact ck0000003521_S000009164Member row primary compact * ~ 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. Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 25000 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. Shareholder Fees (fees paid directly from your investment) INVESTMENT OBJECTIVE <p style="margin:0pt 0pt 4pt 0pt;" align="left"> <font style="font-size:8pt; font-family: Arial, Helvetica;">Alger Health Sciences Fund seeks long-term capital appreciation.</font> </p> EXAMPLE <p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 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.</font></p> 657 936 1236 2085 719 976 1359 2292 317 670 1149 2472 657 936 1236 2085 219 676 1159 2292 217 670 1149 2472 ~ http://alger.com/20130528/role/ScheduleExpenseExampleTransposed20011 column dei_LegalEntityAxis compact ck0000003521_S000009164Member row primary compact * ~ ~ http://alger.com/20130528/role/ScheduleExpenseExampleNoRedemptionTransposed20012 column dei_LegalEntityAxis compact ck0000003521_S000009164Member row primary compact * ~ 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: You would pay the following expenses if you did not redeem your shares: Alger International Growth Fund AIGIX PORTFOLIO TURNOVER <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 most recent fiscal year, the Fund's portfolio turnover rate was 148.66% of the average value of its portfolio.</font> </p> 1.4866 PRINCIPAL RISKS <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 correspond 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 and the risk of non-performance by the contract counterparty.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The following risks also apply:</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Arial, Helvetica;"><b>&#8226;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;it may be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font> </p> 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. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. PRINCIPAL INVESTMENT STRATEGY <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose principal trading market is in a foreign country; or (iii) that have a majority of their assets, or that derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is a market capitalization weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund may also compare its performance to the MSCI Europe, Australasia, and Far East (EAFE) Index, which is an unmanaged, market capitalization-weighted index that is designed to measure the performance of publicly traded stocks issued by companies in developed markets, excluding the United States and Canada. While the MSCI EAFE Index excludes stocks of Canadian companies, the Fund may invest in such stocks.</font> </p> <br/><p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 <font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font><br /> </font> </p> PERFORMANCE <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 I Shares were not offered prior to May 31, 2013. Historical performance prior to May 31, 2013 is that of the Fund's Class A Shares. Performance in the bar chart does not reflect the effect of the sales charges imposed on Class A Shares of the Fund. If the bar chart reflected the applicable sales charges, returns would be less than those shown. Previously, the Fund followed different investment strategies under the name "Alger Large Cap Growth Fund" and was managed by a different portfolio manager. Performance prior to May 31, 2013 reflects that management style and does not reflect the Fund's current investment strategies and investment personnel. Prior to May 31, 2013, the Fund compared its performance to the Russell 1000 Growth Index. The Fund will compare its performance to the MSCI ACWI ex USA Index to better reflect its investment strategies. Remember that the 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 <u>www.alger.com</u>.</font> </p> ANNUAL TOTAL RETURN FOR CLASS A SHARES as of December 31 (%) 0.3458 0.0567 0.1145 0.0491 0.1950 -0.4583 0.4097 0.1267 -0.0051 0.0931 ~ http://alger.com/20130528/role/ScheduleAnnualTotalReturnsBarChart20020 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member column rr_ProspectusShareClassAxis compact ck0000003521_C000024900Member row primary compact * ~ Best Quarter: 0.1739 2003-06-30 Worst Quarter: -0.2633 2008-12-31 total return for Class A shares 0.0839 2013-03-31 <p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Best Quarter: </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Q2 2003 17.39% </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Worst Quarter: </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Q4 2008 -26.33% </p> <br/><p style="margin:3pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The total return for Class A Shares for the three months ended March 31, 2013 was 8.39%.</font> </p> 0.0358 -0.0237 0.0583 0.0482 0.0331 -0.0246 0.0579 0.0399 0.0233 -0.0205 0.0510 0.0382 0.1739 -0.0244 0.1022 0.0551 0.1790 -0.0321 0.0870 0.0462 0.1526 0.0312 0.0752 0.0510 1996-12-31 1996-12-31 1996-12-31 1996-12-31 1996-12-31 ~ http://alger.com/20130528/role/ScheduleAverageAnnualReturnsTransposed20021 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin:12pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> 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. Class I Shares were not offered prior to May 31, 2013. 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. Remember that the Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. (reflects no deduction for fees, expenses or taxes) Performance in the bar chart does not reflect the effect of the sales charges imposed on Class A Shares of the Fund. If the bar chart reflected the applicable sales charges, returns would be less than those shown. 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. Prior to May 31, 2013, the Fund compared its performance to the Russell 1000 Growth Index. The Fund will compare its performance to the MSCI ACWI ex USA Index to better reflect its investment strategies. www.alger.com 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. AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2012 FUND FEES AND EXPENSES <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 $20 million in net assets. If actual net assets are less, the actual expense ratio will be higher.</font> </p> 0.00 0.0071 0.0025 0.0033 0.0129 -0.0014 0.0115 ~ http://alger.com/20130528/role/ScheduleShareholderFees20017 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member row primary compact * ~ ~ http://alger.com/20130528/role/ScheduleAnnualFundOperatingExpenses20018 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member row primary compact * ~ 2014-05-30 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) "Other Expenses" below are estimated assuming $20 million in net assets. Shareholder Fees (fees paid directly from your investment) INVESTMENT OBJECTIVE <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Alger International Growth Fund seeks long-term capital appreciation.</font> </p> EXAMPLE <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 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.</font></p> 117 395 694 1544 ~ http://alger.com/20130528/role/ScheduleExpenseExampleTransposed20019 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member row primary compact * ~ 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: Alger International Growth Fund ALCZX PORTFOLIO TURNOVER <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 most recent fiscal year, the Fund's portfolio turnover rate was 148.66% of the average value of its portfolio.</font> </p> 1.4866 PRINCIPAL RISKS <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 and the risk of non-performance by the contract counterparty.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The following risks also apply:</font> </p> <br/><p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Arial, Helvetica;"><strong>&#8226;</strong></font><font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;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.</font> </p> <br/><p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Arial, Helvetica;"><strong>&#8226;</strong></font><font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">&#160;&#160;it may be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;" align="left"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.</font> </p> 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. An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. PRINCIPAL INVESTMENT STRATEGY <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose principal trading market is in a foreign country; or (iii) that have a majority of their assets, or that derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies.</font> </p> <br/><p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is a market capitalization weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund may also compare its performance to the MSCI Europe, Australasia, and Far East (EAFE) Index, which is an unmanaged, market capitalization-weighted index that is designed to measure the performance of publicly traded stocks issued by companies in developed markets, excluding the United States and Canada. While the MSCI EAFE Index excludes stocks of Canadian companies, the Fund may invest in such stocks.</font> </p> <br/><p style="margin: 0pt 0pt 6pt 0pt;"> <font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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 <font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font><br /> </font> </p> PERFORMANCE <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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. Previously, the Fund followed different investment strategies under the name "Alger Large Cap Growth Fund" and was managed by a different portfolio manager. Performance prior to May 31, 2013 reflects that management style and does not reflect the Fund's current investment strategies and investment personnel. Prior to May 31, 2013, the Fund compared its performance to the Russell 1000 Growth Index. The Fund will compare its performance to the MSCI ACWI ex USA Index to better reflect its investment strategies. Remember that the 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 <u>www.alger.com</u>.</font> </p> ANNUAL TOTAL RETURN FOR CLASS Z SHARES as of December 31 (%) -0.0034 0.0977 ~ http://alger.com/20130528/role/ScheduleAnnualTotalReturnsBarChart20027 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member column rr_ProspectusShareClassAxis compact ck0000003521_C000095957Member row primary compact * ~ Best Quarter: 0.1429 2012-09-30 Worst Quarter: -0.1431 2011-09-30 total return for the Class Z Shares 0.0854 2013-03-31 <p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Best Quarter: </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Q3 2012 14.29% </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Worst Quarter: </p> <br/><p style="margin: 0pt 0pt 0pt 0pt;" align="left"> Q3 2011 -14.31 </p> <br/><p style="margin:3pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The total return for the Class Z Shares for the three months ended March 31, 2013 was 8.54%.</font> </p> 0.0977 0.0445 0.0935 0.0425 0.0635 0.0368 0.1739 0.0114 0.1790 0.0214 0.1526 0.0859 2010-12-29 2010-12-29 2010-12-29 2010-12-29 ~ http://alger.com/20130528/role/ScheduleAverageAnnualReturnsTransposed20028 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member column rr_ProspectusShareClassAxis compact ck0000003521_C000095957Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin:12pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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.</font> </p> 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. Remember that the Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. www.alger.com 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. 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. (reflects no deduction for fees, expenses or taxes) 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. Prior to May 31, 2013, the Fund compared its performance to the Russell 1000 Growth Index. The Fund will compare its performance to the MSCI ACWI ex USA Index to better reflect its investment strategies. Average Annual Total Return as of December 31, 2012 INVESTMENT OBJECTIVE <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Alger International Growth Fund seeks long-term capital appreciation.</font> </p> FUND FEES AND EXPENSES <p style="margin:0pt 0pt 6pt 0pt;"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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. Total Annual Fund Operating Expenses are as of October 31, 2013, revised to reflect current fees.</font> </p> 0.00 0.0071 0.0000 0.0037 0.0108 -0.0019 0.0089 ~ http://alger.com/20130528/role/ScheduleShareholderFees20024 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member column rr_ProspectusShareClassAxis compact ck0000003521_C000095957Member row primary compact * ~ ~ http://alger.com/20130528/role/ScheduleAnnualFundOperatingExpenses20025 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009159Member column rr_ProspectusShareClassAxis compact ck0000003521_C000095957Member row primary compact * ~ 2014-05-30 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Total Annual Fund Operating Expenses are as of October 31, 2013, revised to reflect current fees. 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