0001104659-16-151317.txt : 20161021 0001104659-16-151317.hdr.sgml : 20161021 20161021130311 ACCESSION NUMBER: 0001104659-16-151317 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 28 FILED AS OF DATE: 20161021 DATE AS OF CHANGE: 20161021 EFFECTIVENESS DATE: 20161021 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: 161945883 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: 161945884 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 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 S000020958 Alger Small Cap Focus Fund C000059337 Alger Small Cap Focus Fund Class A AOFAX C000059339 Alger Small Cap Focus Fund Class C AOFCX C000059340 Alger Small Cap Focus Fund Class I AOFIX C000095961 Alger Small Cap Focus Fund Class Z AGOZX 485BPOS 1 a16-16308_17485bpos.htm N-1A

As filed with the Securities and Exchange Commission on October 21, 2016  

 

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. 92

 

x

 

     and/or

 

 

 

 

 

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940

 

x

 

     Amendment No. 94

 

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 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 Amendment to the 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, thereto duly authorized, in the City of  New York and State of New York on the 21st day of October, 2016.  

 

 

 

THE ALGER FUNDS

 

 

 

 

 

By: /s/ Hal Liebes

 

 

Hal Liebes,

 

President

 

 

 

 

ATTEST: /s/

Lisa A. Moss

 

 

 

Lisa A. Moss, 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

 

October 21, 2016

Hal Liebes

 

 

(Principal Executive Officer)

 

 

 

 

 

 

 

 

/s/ Michael D. Martins

 

 

Treasurer

 

October 21, 2016

Michael D. Martins

 

 

(Chief Financial Officer)

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

October 21, 2016

Charles F. Baird, Jr.

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

October 21, 2016

Roger P. Cheever

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

October 21, 2016

Hilary M. Alger

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

October 21, 2016

Nathan E. Saint-Amand

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

October 21, 2016

Stephen E. O’Neil

 

 

 

 

 

 

 

 

 

 

 

*

 

 

Trustee

 

October 21, 2016

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

 

EX-101.INS 2 ck0000003521-20161014.xml XBRL INSTANCE DOCUMENT 0000003521 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_B_and_C_ProspectusMember ck0000003521:S000009160Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_B_and_C_ProspectusMember ck0000003521:S000009160Member ck0000003521:C000024903Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_B_and_C_ProspectusMember ck0000003521:S000009160Member ck0000003521:C000024904Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_B_and_C_ProspectusMember ck0000003521:S000009160Member ck0000003521:C000024905Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_B_and_C_ProspectusMember ck0000003521:S000009160Member rr:AfterTaxesOnDistributionsMember ck0000003521:C000024903Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_B_and_C_ProspectusMember ck0000003521:S000009160Member rr:AfterTaxesOnDistributionsAndSalesMember ck0000003521:C000024903Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_B_and_C_ProspectusMember ck0000003521:S000009160Member ck0000003521:index_Russell_2000_Growth_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_and_C_ProspectusMember ck0000003521:S000020958Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_and_C_ProspectusMember ck0000003521:S000020958Member ck0000003521:C000059337Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_and_C_ProspectusMember ck0000003521:S000020958Member ck0000003521:C000059339Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_and_C_ProspectusMember ck0000003521:S000020958Member rr:AfterTaxesOnDistributionsMember ck0000003521:C000059337Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_and_C_ProspectusMember ck0000003521:S000020958Member rr:AfterTaxesOnDistributionsAndSalesMember ck0000003521:C000059337Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_A_and_C_ProspectusMember ck0000003521:S000020958Member ck0000003521:index_Russell_2000_Growth_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009160Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009160Member ck0000003521:C000095958Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009160Member rr:AfterTaxesOnDistributionsMember ck0000003521:C000095958Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009160Member rr:AfterTaxesOnDistributionsAndSalesMember ck0000003521:C000095958Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000009160Member ck0000003521:index_Russell_2000_Growth_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_I_ProspectusMember ck0000003521:S000020958Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_I_ProspectusMember ck0000003521:S000020958Member ck0000003521:C000059340Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_I_ProspectusMember ck0000003521:S000020958Member rr:AfterTaxesOnDistributionsMember ck0000003521:C000059340Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_I_ProspectusMember ck0000003521:S000020958Member rr:AfterTaxesOnDistributionsAndSalesMember ck0000003521:C000059340Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_I_ProspectusMember ck0000003521:S000020958Member ck0000003521:index_Russell_2000_Growth_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000020958Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000020958Member ck0000003521:C000095961Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000020958Member rr:AfterTaxesOnDistributionsMember ck0000003521:C000095961Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000020958Member rr:AfterTaxesOnDistributionsAndSalesMember ck0000003521:C000095961Member 2015-10-31 2015-10-31 0000003521 ck0000003521:doc_Class_Z_ProspectusMember ck0000003521:S000020958Member ck0000003521:index_Russell_2000_Growth_Index_reflects_no_deduction_for_fees_expenses_or_taxesMember 2015-10-31 2015-10-31 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 or more 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. The expense information in the table has been restated to reflect the current Management Fees. Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017, to the extent necessary to limit the annual operating expenses of the Fund's Class A Shares to 1.20%, and Class C Shares to 1.95%, of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement. Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class Z Shares of the Fund to .99% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement. Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class I Shares of the Fund to 1.20% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement. The expense information in the table has been restated to reflect the current Management Fees and Expense Reimbursement. Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class Z Shares of the Fund to 1.10% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement. ALGER FUNDS 485BPOS false 0000003521 2015-10-31 2016-10-14 2016-10-14 2016-03-01 Alger Small Cap Growth Fund ALSAX ALSCX AGSCX Performance <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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 www.alger.com.</font></p> Annual Total Return for Class A Shares as of December 31 (%) 0.1901 0.1598 -0.4596 0.4436 0.2530 -0.0271 0.1200 0.3372 -0.0018 -0.0350 ~ http://alger.com/20161014/role/ScheduleAnnualTotalReturnsBarChart20005 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_B_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member column rr_ProspectusShareClassAxis compact ck0000003521_C000024903Member row primary compact * ~ Best Quarter: 0.2075 2009-06-30 Worst Quarter: -0.2727 2008-12-31 <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 169; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Best Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q2 2009 20.75%</font></td> <td colspan="1">&#160;</td> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 170; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Worst Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q4 2008 -27.27%</font></td> <td colspan="1">&#160;</td> </tr> </table> -0.0855 0.0586 0.0603 0.0365 -0.1290 0.0353 0.0485 0.0261 -0.0120 0.0457 0.0484 0.0297 -0.0788 0.0612 0.0602 0.0363 -0.0493 0.0599 0.0568 0.0346 -0.0138 0.1067 0.0795 0.0605 1996-12-31 1986-11-11 1997-07-31 1996-12-31 ~ http://alger.com/20161014/role/ScheduleAverageAnnualReturnsTransposed20006 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_B_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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> Remember that the Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. 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. www.alger.com 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. After-tax returns for Class B and C Shares, which are not shown, will vary from those shown for Class A Shares. 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. (reflects no deduction for fees, expenses or taxes) Average Annual Total Return as of December 31, 2015 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. Principal Risks <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Equity Securities Risk &#8211;</b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Growth Stocks Risk &#8211;</b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The following risks may also apply:</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Small Cap Securities Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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; text-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. Investment Objective <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Alger Small Cap Growth Fund seeks long-term capital appreciation.</font></p> Portfolio Turnover <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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 131.72% of the average value of its portfolio.</font></p> 1.3172 Example <p style="margin: 0pt 0pt 6pt 0pt; text-align: left;"><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> 655 930 1226 2064 719 976 1359 2287 319 676 1159 2493 219 676 1159 2287 219 676 1159 2493 ~ http://alger.com/20161014/role/ScheduleExpenseExampleTransposed20003 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_B_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member row primary compact * ~ ~ http://alger.com/20161014/role/ScheduleExpenseExampleNoRedemptionTransposed20004 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_B_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member 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: Fund Fees and Expenses <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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. While the investment minimum is lower, 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 25 of the Fund's Statement of Additional Information.</font></p> 0.0525 0.0000 0.0000 0.0100 0.0500 0.0100 0.0081 0.0081 0.0081 0.0025 0.0100 0.0100 0.0029 0.0035 0.0035 0.0135 0.0216 0.0216 ~ http://alger.com/20161014/role/ScheduleShareholderFees20001 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_B_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member row primary compact * ~ ~ http://alger.com/20161014/role/ScheduleAnnualFundOperatingExpenses20002 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_B_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member row primary compact * ~ 25000 Purchases of $1 million or more 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) While the investment minimum is lower, 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) Principal Investment Strategy <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund focuses on small, fast-growing companies that Fred Alger Management, Inc. believes offer innovative products, services or technologies to a rapidly-expanding marketplace. The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion.</font></p> Alger Small Cap Focus Fund AOFAX AOFCX Performance <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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 www.alger.com.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.</font></p> Annual Total Return for Class A Shares as of December 31 (%) 0.4609 0.2825 -0.0505 0.1355 0.3800 0.0167 0.0159 ~ http://alger.com/20161014/role/ScheduleAnnualTotalReturnsBarChart20013 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member column rr_ProspectusShareClassAxis compact ck0000003521_C000059337Member row primary compact * ~ Best Quarter: 0.2250 2009-06-30 Worst Quarter: -0.2302 2011-09-30 <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 169; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Best Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q2 2009 22.50%</font></td> <td colspan="1">&#160;</td> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 170; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Worst Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q3 2011 -23.02%</font></td> <td colspan="1">&#160;</td> </tr> </table> -0.0372 0.0781 0.0652 -0.0372 0.0575 0.0594 -0.0211 0.0601 0.0572 0.0001 0.0823 0.0649 -0.0138 0.1067 0.0943 2008-03-03 2008-03-03 2008-03-03 ~ http://alger.com/20161014/role/ScheduleAverageAnnualReturnsTransposed20014 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin: 4pt 0pt 6pt 0pt; text-align: left;"><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 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> Remember that the Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. 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. www.alger.com 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. After-tax returns for Class C Shares, which are not shown, will vary from those shown for Class A Shares. 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. (reflects no deduction for fees, expenses or taxes) Average Annual Total Return as of December 31, 2015 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. Principal Risks <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Equity Securities Risk &#8211;</b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Growth Stocks Risk &#8211;</b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The following risks may also apply:</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Small Cap Securities Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> there may be greater risk in investing in companies with small market capitalizations rather than larger, more established issuers owing to such factors as more limited product lines or financial resources or lack of management depth. It may also 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; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Less Diversified Portfolio Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> 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.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Concentration Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore, because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Leverage Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> 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; text-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. Investment Objective <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Alger Small Cap Focus Fund seeks long-term capital appreciation.</font></p> Portfolio Turnover <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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 162.44% of the average value of its portfolio.</font></p> 1.6244 Example <p style="margin: 0pt 0pt 6pt 0pt; text-align: left;"><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> 641 1010 1404 2502 298 732 1293 2822 198 732 1293 2822 ~ http://alger.com/20161014/role/ScheduleExpenseExampleTransposed20011 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member row primary compact * ~ ~ http://alger.com/20161014/role/ScheduleExpenseExampleNoRedemptionTransposed20012 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member 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: Fund Fees and Expenses <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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. While the investment minimum is lower, 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 25 of the Fund's Statement of Additional Information.</font></p> 0.0525 0.0000 0.0100 0.0100 0.0075 0.0075 0.0025 0.0100 0.0082 0.0078 0.0182 0.0253 -0.0062 -0.0058 0.0120 0.0195 ~ http://alger.com/20161014/role/ScheduleShareholderFees20009 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member row primary compact * ~ ~ http://alger.com/20161014/role/ScheduleAnnualFundOperatingExpenses20010 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_A_and_C_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member row primary compact * ~ 25000 Purchases of $1 million or more 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. The expense information in the table has been restated to reflect the current Management Fees. 2017-10-13 Shareholder Fees (fees paid directly from your investment) While the investment minimum is lower, 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) Principal Investment Strategy <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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; text-align: left;"><font style="font-size: 9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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> Alger Small Cap Growth Fund ASCZX Performance <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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. 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 www.alger.com.</font></p> Annual Total Return for Class Z Shares as of December 31 (%) -0.0298 0.1245 0.3419 0.0015 -0.0323 ~ http://alger.com/20161014/role/ScheduleAnnualTotalReturnsBarChart20020 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member column rr_ProspectusShareClassAxis compact ck0000003521_C000095958Member row primary compact * ~ Best Quarter: 0.1548 2011-12-31 Worst Quarter: -0.2289 2011-09-30 <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 169; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Best Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q4 2011 15.48%</font></td> <td colspan="1">&#160;</td> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 169; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Worst Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q3 2011 -22.89%</font></td> <td colspan="1">&#160;</td> </tr> </table> -0.0323 0.0725 0.0710 -0.0777 0.0490 0.0476 0.0198 0.0568 0.0556 -0.0138 0.1067 0.1047 2010-12-29 2010-12-29 ~ http://alger.com/20161014/role/ScheduleAverageAnnualReturnsTransposed20021 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin:12pt 0pt 6pt 0pt; text-align: left;"><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> Remember that the Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. 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. www.alger.com 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. (reflects no deduction for fees, expenses or taxes) Average Annual Total Return as of December 31, 2015 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. Principal Risks <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Equity Securities Risk &#8211; </b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Growth Stocks Risk &#8211; </b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The following risks may also apply:</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Small Cap Securities Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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; text-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. Investment Objective <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Alger Small Cap Growth Fund seeks long-term capital appreciation.</font></p> Portfolio Turnover <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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 example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 131.72% of the average value of its portfolio.</font></p> 1.3172 Example <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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> 101 326 569 1266 ~ http://alger.com/20161014/role/ScheduleExpenseExampleTransposed20019 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member 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: Fund Fees and Expenses <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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.</font></p> 0.00 0.0081 0.0000 0.0023 0.0104 -0.0005 0.0099 ~ http://alger.com/20161014/role/ScheduleShareholderFees20017 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member row primary compact * ~ ~ http://alger.com/20161014/role/ScheduleAnnualFundOperatingExpenses20018 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000009160Member row primary compact * ~ 2017-10-13 Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Principal Investment Strategy <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund focuses on small, fast-growing companies that Fred Alger Management, Inc. believes offer innovative products, services or technologies to a rapidly-expanding marketplace. The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion.</font></p> Alger Small Cap Focus Fund AOFIX Performance <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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. 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 www.alger.com.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.</font></p> Annual Total Return for Class I Shares as of December 31 (%) 0.4659 0.2860 -0.0494 0.1396 0.3819 0.0199 0.0183 ~ http://alger.com/20161014/role/ScheduleAnnualTotalReturnsBarChart20027 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member column rr_ProspectusShareClassAxis compact ck0000003521_C000059340Member row primary compact * ~ Best Quarter: 0.2264 2009-06-30 Worst Quarter: -0.2295 2011-09-30 <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 169; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Best Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q2 2009 22.64%</font></td> <td colspan="1">&#160;</td> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 169; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Worst Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q3 2011 -22.95%</font></td> <td colspan="1">&#160;</td> </tr> </table> 0.0183 0.0923 0.0750 0.0183 0.0717 0.0620 0.0104 0.0716 0.0592 -0.0138 0.1067 0.0943 2008-03-03 2008-03-03 ~ http://alger.com/20161014/role/ScheduleAverageAnnualReturnsTransposed20028 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin:12pt 0pt 6pt 0pt; text-align: left;"><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.</font></p> 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 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. (reflects no deduction for fees, expenses or taxes) Average Annual Total Return as of December 31, 2015 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. Principal Risks <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Equity Securities Risk &#8211;</b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Growth Stocks Risk &#8211;</b></font><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; text-align: left;"><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; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Small Cap Securities Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Less Diversified Portfolio Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> 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.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Concentration Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Leverage Risk &#8211; </b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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; text-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. Investment Objective <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Alger Small Cap Focus Fund seeks long-term capital appreciation.</font></p> Portfolio Turnover <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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 example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 162.44% of the average value of its portfolio.</font></p> 1.6244 Example <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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> 122 457 816 1826 ~ http://alger.com/20161014/role/ScheduleExpenseExampleTransposed20026 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member 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: Fund Fees and Expenses <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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.</font></p> 0.00 0.0075 0.0025 0.0056 0.0156 -0.0036 0.0120 ~ http://alger.com/20161014/role/ScheduleShareholderFees20024 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member row primary compact * ~ ~ http://alger.com/20161014/role/ScheduleAnnualFundOperatingExpenses20025 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_I_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member row primary compact * ~ The expense information in the table has been restated to reflect the current Management Fees. 2017-10-13 Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Principal Investment Strategy <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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> Alger Small Cap Focus Fund AGOZX Performance <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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. 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 www.alger.com.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.</font></p> Annual Total Return for Class Z Shares as of December 31 (%) -0.0479 0.1422 0.3863 0.0216 0.0228 ~ http://alger.com/20161014/role/ScheduleAnnualTotalReturnsBarChart20034 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member column rr_ProspectusShareClassAxis compact ck0000003521_C000095961Member row primary compact * ~ Best Quarter: 0.1433 2012-03-31 Worst Quarter: -0.2298 2011-09-30 <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tr> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 169; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Best Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q1 2012 14.33%</font></td> <td colspan="1">&#160;</td> <td colspan="3" style="padding:6pt .7pt 6pt 0pt; width: 169; text-align: left;" valign="top"> <font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Worst Quarter:<br/></b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Q3 2011 -22.98%</font></td> <td colspan="1">&#160;</td> </tr> </table> 0.0228 0.0951 0.0941 0.0228 0.0745 0.0735 0.0129 0.0738 0.0729 -0.0138 0.1067 0.1047 2010-12-29 2010-12-29 ~ http://alger.com/20161014/role/ScheduleAverageAnnualReturnsTransposed20035 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member column rr_PerformanceMeasureAxis compact * row primary compact * ~ <p style="margin:12pt 0pt 6pt 0pt; text-align: left;"><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.</font></p> 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 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. (reflects no deduction for fees, expenses or taxes) Average Annual Total Return as of December 31, 2015 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. Principal Risks <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Equity Securities Risk &#8211; </b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Growth Stocks Risk &#8211;</b></font><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The following risks may also apply:</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Small Cap Securities Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Less Diversified Portfolio Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> 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.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Concentration Risk &#8211;</b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"> since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:10pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><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;</font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;"><b>Leverage Risk &#8211; </b></font><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">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; text-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. Investment Objective <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">Alger Small Cap Focus Fund seeks long-term capital appreciation.</font></p> Portfolio Turnover <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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 example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 162.44% of the average value of its portfolio.</font></p> 1.6244 Example <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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> 112 448 806 1817 ~ http://alger.com/20161014/role/ScheduleExpenseExampleTransposed20033 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member row primary compact * ~ Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses regardless of whether or not you redeemed your shares at the end of each period: Fund Fees and Expenses <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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.</font></p> 0.00 0.0075 0.0000 0.0081 0.0156 -0.0046 0.0110 ~ http://alger.com/20161014/role/ScheduleShareholderFees20031 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member row primary compact * ~ ~ http://alger.com/20161014/role/ScheduleAnnualFundOperatingExpenses20032 column dei_DocumentInformationDocumentAxis compact ck0000003521_doc_Class_Z_ProspectusMember column dei_LegalEntityAxis compact ck0000003521_S000020958Member row primary compact * ~ The expense information in the table has been restated to reflect the current Management Fees and Expense Reimbursement. 2017-10-13 Shareholder Fees (fees paid directly from your investment) Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) Principal Investment Strategy <p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><font style="font-size:9pt; font-family: Times New Roman PS Std, Times New Roman PS, Times New Roman, Times;">As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.</font></p> <br/><p style="margin:0pt 0pt 6pt 0pt; text-align: left;"><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> EX-101.SCH 3 ck0000003521-20161014.xsd XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 000001 - Document - Document and Entity Information link:presentationLink link:definitionLink link:calculationLink 020000 - Document - Risk/Return Summary {Unlabeled} - Class A, B, and C Prospectus - Alger Small Cap Growth Fund (Class A, Class B, Class C) link:presentationLink link:definitionLink link:calculationLink 020001 - Schedule - Shareholder Fees link:presentationLink link:definitionLink link:calculationLink 020002 - Schedule - Annual Fund Operating Expenses link:presentationLink link:definitionLink link:calculationLink 020003 - Schedule - Expense Example {Transposed} link:presentationLink link:definitionLink link:calculationLink 020004 - Schedule - Expense Example No Redemption {Transposed} link:presentationLink link:definitionLink link:calculationLink 020005 - 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Document and Entity Information
Total
Prospectus:  
Document Type 485BPOS
Document Period End Date Oct. 31, 2015
Registrant Name ALGER FUNDS
Central Index Key 0000003521
Amendment Flag false
Document Creation Date Oct. 14, 2016
Document Effective Date Oct. 14, 2016
Prospectus Date Mar. 01, 2016
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class A  
Prospectus:  
Trading Symbol ALSAX
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class B  
Prospectus:  
Trading Symbol ALSCX
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class C  
Prospectus:  
Trading Symbol AGSCX
Class A and C Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class A  
Prospectus:  
Trading Symbol AOFAX
Class A and C Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class C  
Prospectus:  
Trading Symbol AOFCX
Class Z Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class Z  
Prospectus:  
Trading Symbol ASCZX
Class Z Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class Z  
Prospectus:  
Trading Symbol AGOZX
Class I Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class I  
Prospectus:  
Trading Symbol AOFIX
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Class A, B, and C Prospectus | Alger Small Cap Growth Fund
Alger Small Cap Growth Fund
Investment Objective

Alger Small Cap Growth 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. While the investment minimum is lower, 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 25 of the Fund's Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees - Class A, B, and C Prospectus - Alger Small Cap Growth Fund
Alger Small Cap Growth Fund Class A
Alger Small Cap Growth Fund Class B
Alger Small Cap Growth Fund Class C
Maximum sales charge (load) imposed on purchases as a % of offering price 5.25% none none
Maximum deferred sales charge (load) as a % of purchase price or redemption proceeds, whichever is lower 1.00% [1] 5.00% 1.00%
[1] Purchases of $1 million or more 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 - Class A, B, and C Prospectus - Alger Small Cap Growth Fund
Alger Small Cap Growth Fund Class A
Alger Small Cap Growth Fund Class B
Alger Small Cap Growth Fund Class C
Management Fees 0.81% 0.81% 0.81%
Distribution and/or Service (12b-1) Fees 0.25% 1.00% 1.00%
Other Expenses 0.29% 0.35% 0.35%
Total Annual Fund Operating Expenses 1.35% 2.16% 2.16%
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 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 - Class A, B, and C Prospectus - Alger Small Cap Growth Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Alger Small Cap Growth Fund Class A 655 930 1,226 2,064
Alger Small Cap Growth Fund Class B 719 976 1,359 2,287
Alger Small Cap Growth Fund Class C 319 676 1,159 2,493
You would pay the following expenses if you did not redeem your shares:
Expense Example No Redemption - Class A, B, and C Prospectus - Alger Small Cap Growth Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Alger Small Cap Growth Fund Class B 219 676 1,159 2,287
Alger Small Cap Growth Fund Class C 219 676 1,159 2,493
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 most recent fiscal year, the Fund's portfolio turnover rate was 131.72% 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 small, fast-growing companies that Fred Alger Management, Inc. believes offer innovative products, services or technologies to a rapidly-expanding marketplace. The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion.

Principal Risks

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks may also apply:


  Small Cap Securities Risk – there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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.


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.

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. 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 www.alger.com.

Annual Total Return for Class A Shares as of December 31 (%)
Bar Chart
Best Quarter:
Q2 2009 20.75%
  Worst Quarter:
Q4 2008 -27.27%
 
Average Annual Total Return as of December 31, 2015
Average Annual Returns - Class A, B, and C Prospectus - Alger Small Cap Growth Fund
Average Annual Returns, 1 Year
Average Annual Returns, 5 Years
Average Annual Returns, 10 Years
Average Annual Returns, Since Inception
[1]
Average Annual Returns, Inception Date
Alger Small Cap Growth Fund Class A (8.55%) 5.86% 6.03% 3.65% Dec. 31, 1996
Alger Small Cap Growth Fund Class B (7.88%) 6.12% 6.02% 3.63% Nov. 11, 1986
Alger Small Cap Growth Fund Class C (4.93%) 5.99% 5.68% 3.46% Jul. 31, 1997
After Taxes on Distributions | Alger Small Cap Growth Fund Class A (12.90%) 3.53% 4.85% 2.61%  
After Taxes on Distributions and Sale of Fund Shares | Alger Small Cap Growth Fund Class A (1.20%) 4.57% 4.84% 2.97%  
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes) (1.38%) 10.67% 7.95% 6.05% Dec. 31, 1996
[1] 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.

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.

XML 11 R9.htm IDEA: XBRL DOCUMENT v3.5.0.2
Label Element Value
Class A, B, and C Prospectus | Alger Small Cap Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Alger Small Cap Growth Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

Alger Small Cap Growth 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. While the investment minimum is lower, 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 25 of the Fund's Statement of Additional Information.

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 most recent fiscal year, the Fund's portfolio turnover rate was 131.72% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 131.72%
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 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 benefitting from regulatory change, a new product introduction or management change.


The Fund focuses on small, fast-growing companies that Fred Alger Management, Inc. believes offer innovative products, services or technologies to a rapidly-expanding marketplace. The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion.

Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks may also apply:


  Small Cap Securities Risk – there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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.


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.

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 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.
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. 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 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 the 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 A Shares as of December 31 (%)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads 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.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:
Q2 2009 20.75%
  Worst Quarter:
Q4 2008 -27.27%
 
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 20.75%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (27.27%)
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 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 B and C Shares, which are not shown, will vary from those shown for Class A 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 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.

Caption rr_AverageAnnualReturnCaption Average Annual Total Return as of December 31, 2015
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (1.38%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 10.67%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 7.95%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 6.05% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1996
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class A  
Risk/Return: 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_MaximumDeferredSalesChargeOverOther 1.00% [2]
Management Fees rr_ManagementFeesOverAssets 0.81%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25%
Other Expenses rr_OtherExpensesOverAssets 0.29%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.35%
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock Purchases of $1 million or more 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.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts While the investment minimum is lower, 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, with Redemption, 1 Year rr_ExpenseExampleYear01 655
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 930
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,226
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,064
Annual Return 2006 rr_AnnualReturn2006 19.01%
Annual Return 2007 rr_AnnualReturn2007 15.98%
Annual Return 2008 rr_AnnualReturn2008 (45.96%)
Annual Return 2009 rr_AnnualReturn2009 44.36%
Annual Return 2010 rr_AnnualReturn2010 25.30%
Annual Return 2011 rr_AnnualReturn2011 (2.71%)
Annual Return 2012 rr_AnnualReturn2012 12.00%
Annual Return 2013 rr_AnnualReturn2013 33.72%
Annual Return 2014 rr_AnnualReturn2014 (0.18%)
Annual Return 2015 rr_AnnualReturn2015 (3.50%)
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (8.55%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 5.86%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 6.03%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 3.65% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 31, 1996
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (12.90%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 3.53%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 4.85%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 2.61% [1]
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class A | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (1.20%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 4.57%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 4.84%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 2.97% [1]
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class B  
Risk/Return: 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_MaximumDeferredSalesChargeOverOther 5.00%
Management Fees rr_ManagementFeesOverAssets 0.81%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.35%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.16%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 719
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 976
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,359
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,287
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 219
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 676
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,159
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,287
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (7.88%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 6.12%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 6.02%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 3.63% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Nov. 11, 1986
Class A, B, and C Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class C  
Risk/Return: 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_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets 0.81%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00%
Other Expenses rr_OtherExpensesOverAssets 0.35%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.16%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 319
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 676
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,159
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,493
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 219
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 676
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,159
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,493
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (4.93%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 5.99%
Average Annual Returns, 10 Years rr_AverageAnnualReturnYear10 5.68%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 3.46% [1]
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Jul. 31, 1997
[1] 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.
[2] Purchases of $1 million or more 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.
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Class A and C Prospectus | Alger Small Cap Focus Fund
Alger Small Cap Focus Fund
Investment Objective

Alger Small Cap 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. While the investment minimum is lower, 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 25 of the Fund's Statement of Additional Information.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees - Class A and C Prospectus - Alger Small Cap Focus Fund
Alger Small Cap Focus Fund Class A
Alger Small Cap Focus Fund 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%
[1] Purchases of $1 million or more 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 - Class A and C Prospectus - Alger Small Cap Focus Fund
Alger Small Cap Focus Fund Class A
Alger Small Cap Focus Fund Class C
Management Fees [1] 0.75% 0.75%
Distribution and/or Service (12b-1) Fees [1] 0.25% 1.00%
Other Expenses [1] 0.82% 0.78%
Total Annual Fund Operating Expenses [1] 1.82% 2.53%
Expense Reimbursement [1],[2] 0.62% 0.58%
Total Annual Fund Operating Expenses After Expense Reimbursement [1] 1.20% 1.95%
[1] The expense information in the table has been restated to reflect the current Management Fees.
[2] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017, to the extent necessary to limit the annual operating expenses of the Fund's Class A Shares to 1.20%, and Class C Shares to 1.95%, of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement.
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 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 - Class A and C Prospectus - Alger Small Cap Focus Fund - USD ($)
1 Year
3 Years
5 Years
10 Years
Alger Small Cap Focus Fund Class A 641 1,010 1,404 2,502
Alger Small Cap Focus Fund Class C 298 732 1,293 2,822
You would pay the following expenses if you did not redeem your shares:
Expense Example No Redemption
1 Year
3 Years
5 Years
10 Years
Class A and C Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class C | USD ($) 198 732 1,293 2,822
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 most recent fiscal year, the Fund's portfolio turnover rate was 162.44% 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 normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.


As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.


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.

Principal Risks

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks may also apply:


  Small Cap Securities Risk – there may be greater risk in investing in companies with small market capitalizations rather than larger, more established issuers owing to such factors as more limited product lines or financial resources or lack of management depth. It may also 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.


  Less Diversified Portfolio Risk – 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.


  Concentration Risk – since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore, because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.


  Leverage Risk – 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.


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.

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. 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 www.alger.com.


Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.

Annual Total Return for Class A Shares as of December 31 (%)
Bar Chart
Best Quarter:
Q2 2009 22.50%
  Worst Quarter:
Q3 2011 -23.02%
 
Average Annual Total Return as of December 31, 2015
Average Annual Returns - Class A and C Prospectus - Alger Small Cap Focus Fund
Average Annual Returns, 1 Year
Average Annual Returns, 5 Years
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
Alger Small Cap Focus Fund Class A (3.72%) 7.81% 6.52% Mar. 03, 2008
Alger Small Cap Focus Fund Class C 0.01% 8.23% 6.49% Mar. 03, 2008
After Taxes on Distributions | Alger Small Cap Focus Fund Class A (3.72%) 5.75% 5.94%  
After Taxes on Distributions and Sale of Fund Shares | Alger Small Cap Focus Fund Class A (2.11%) 6.01% 5.72%  
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes) (1.38%) 10.67% 9.43% Mar. 03, 2008

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 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.

XML 14 R17.htm IDEA: XBRL DOCUMENT v3.5.0.2
Label Element Value
Class A and C Prospectus | Alger Small Cap Focus Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Alger Small Cap Focus Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

Alger Small Cap 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. While the investment minimum is lower, 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 25 of the Fund's Statement of Additional Information.

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)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination Oct. 13, 2017
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 most recent fiscal year, the Fund's portfolio turnover rate was 162.44% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 162.44%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The expense information in the table has been restated to reflect the current Management Fees.
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 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 benefitting from regulatory change, a new product introduction or management change.


The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.


As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.


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.

Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks may also apply:


  Small Cap Securities Risk – there may be greater risk in investing in companies with small market capitalizations rather than larger, more established issuers owing to such factors as more limited product lines or financial resources or lack of management depth. It may also 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.


  Less Diversified Portfolio Risk – 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.


  Concentration Risk – since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore, because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.


  Leverage Risk – 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.


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.

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 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.
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. 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 www.alger.com.


Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.

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 the 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 A Shares as of December 31 (%)
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads 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.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:
Q2 2009 22.50%
  Worst Quarter:
Q3 2011 -23.02%
 
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 22.50%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (23.02%)
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 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 C Shares, which are not shown, will vary from those shown for Class A 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 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.

Caption rr_AverageAnnualReturnCaption Average Annual Total Return as of December 31, 2015
Class A and C Prospectus | Alger Small Cap Focus Fund | Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (1.38%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 10.67%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 9.43%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 03, 2008
Class A and C Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class A  
Risk/Return: 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_MaximumDeferredSalesChargeOverOther 1.00% [1]
Management Fees rr_ManagementFeesOverAssets 0.75% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25% [2]
Other Expenses rr_OtherExpensesOverAssets 0.82% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.82% [2]
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.62% [2],[3]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.20% [2]
Expenses Deferred Charges [Text Block] rr_ExpensesDeferredChargesTextBlock Purchases of $1 million or more 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.
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts While the investment minimum is lower, 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, with Redemption, 1 Year rr_ExpenseExampleYear01 641
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 1,010
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,404
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 2,502
Annual Return 2009 rr_AnnualReturn2009 46.09%
Annual Return 2010 rr_AnnualReturn2010 28.25%
Annual Return 2011 rr_AnnualReturn2011 (5.05%)
Annual Return 2012 rr_AnnualReturn2012 13.55%
Annual Return 2013 rr_AnnualReturn2013 38.00%
Annual Return 2014 rr_AnnualReturn2014 1.67%
Annual Return 2015 rr_AnnualReturn2015 1.59%
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (3.72%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 7.81%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 6.52%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 03, 2008
Class A and C Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class A | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (3.72%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 5.75%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.94%
Class A and C Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class A | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (2.11%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 6.01%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.72%
Class A and C Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class C  
Risk/Return: 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_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets 0.75% [2]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00% [2]
Other Expenses rr_OtherExpensesOverAssets 0.78% [2]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 2.53% [2]
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.58% [2],[3]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.95% [2]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 298
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 732
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 1,293
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 2,822
Expense Example, No Redemption, 1 Year rr_ExpenseExampleNoRedemptionYear01 198
Expense Example, No Redemption, 3 Years rr_ExpenseExampleNoRedemptionYear03 732
Expense Example, No Redemption, 5 Years rr_ExpenseExampleNoRedemptionYear05 1,293
Expense Example, No Redemption, 10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,822
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 0.01%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 8.23%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 6.49%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 03, 2008
[1] Purchases of $1 million or more 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.
[2] The expense information in the table has been restated to reflect the current Management Fees.
[3] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017, to the extent necessary to limit the annual operating expenses of the Fund's Class A Shares to 1.20%, and Class C Shares to 1.95%, of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement.
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Class Z Prospectus | Alger Small Cap Growth Fund
Alger Small Cap Growth Fund
Investment Objective

Alger Small Cap Growth 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.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees
Class Z Prospectus
Alger Small Cap Growth Fund
Alger Small Cap Growth Fund Class Z
USD ($)
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
Class Z Prospectus
Alger Small Cap Growth Fund
Alger Small Cap Growth Fund Class Z
Management Fees 0.81%
Distribution and/or Service (12b-1) Fees none
Other Expenses 0.23%
Total Annual Fund Operating Expenses 1.04%
Expense Reimbursement 0.05% [1]
Total Annual Fund Operating Expenses After Expense Reimbursement 0.99%
[1] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class Z Shares of the Fund to .99% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement.
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 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
1 Year
3 Years
5 Years
10 Years
Class Z Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class Z | USD ($) 101 326 569 1,266
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 most recent fiscal year, the Fund's portfolio turnover rate was 131.72% 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 small, fast-growing companies that Fred Alger Management, Inc. believes offer innovative products, services or technologies to a rapidly-expanding marketplace. The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion.

Principal Risks

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks may also apply:


  Small Cap Securities Risk – there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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.


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.

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. 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 www.alger.com.

Annual Total Return for Class Z Shares as of December 31 (%)
Bar Chart
Best Quarter:
Q4 2011 15.48%
  Worst Quarter:
Q3 2011 -22.89%
 
Average Annual Total Return as of December 31, 2015
Average Annual Returns - Class Z Prospectus - Alger Small Cap Growth Fund
Average Annual Returns, 1 Year
Average Annual Returns, 5 Years
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
Alger Small Cap Growth Fund Class Z (3.23%) 7.25% 7.10% Dec. 29, 2010
After Taxes on Distributions | Alger Small Cap Growth Fund Class Z (7.77%) 4.90% 4.76%  
After Taxes on Distributions and Sale of Fund Shares | Alger Small Cap Growth Fund Class Z 1.98% 5.68% 5.56%  
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes) (1.38%) 10.67% 10.47% Dec. 29, 2010

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.

XML 17 R24.htm IDEA: XBRL DOCUMENT v3.5.0.2
Label Element Value
Class Z Prospectus | Alger Small Cap Growth Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Alger Small Cap Growth Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

Alger Small Cap Growth 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.

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)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination Oct. 13, 2017
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 most recent fiscal year, the Fund's portfolio turnover rate was 131.72% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 131.72%
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 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 small, fast-growing companies that Fred Alger Management, Inc. believes offer innovative products, services or technologies to a rapidly-expanding marketplace. The Fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion.

Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks may also apply:


  Small Cap Securities Risk – there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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.


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.

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 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.
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. 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 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 the 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 Z Shares as of December 31 (%)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:
Q4 2011 15.48%
  Worst Quarter:
Q3 2011 -22.89%
 
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Dec. 31, 2011
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 15.48%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.89%)
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 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, 2015
Class Z Prospectus | Alger Small Cap Growth Fund | Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (1.38%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 10.67%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 10.47%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 29, 2010
Class Z Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class Z  
Risk/Return: rr_RiskReturnAbstract  
Shareholder Fees (fees paid directly from your investment) rr_ShareholderFeeOther none
Management Fees rr_ManagementFeesOverAssets 0.81%
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none
Other Expenses rr_OtherExpensesOverAssets 0.23%
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.04%
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.05% [1]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 0.99%
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 101
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 326
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 569
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,266
Annual Return 2011 rr_AnnualReturn2011 (2.98%)
Annual Return 2012 rr_AnnualReturn2012 12.45%
Annual Return 2013 rr_AnnualReturn2013 34.19%
Annual Return 2014 rr_AnnualReturn2014 0.15%
Annual Return 2015 rr_AnnualReturn2015 (3.23%)
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (3.23%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 7.25%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 7.10%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 29, 2010
Class Z Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class Z | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (7.77%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 4.90%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 4.76%
Class Z Prospectus | Alger Small Cap Growth Fund | Alger Small Cap Growth Fund Class Z | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 1.98%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 5.68%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.56%
[1] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class Z Shares of the Fund to .99% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement.
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Class I Prospectus | Alger Small Cap Focus Fund
Alger Small Cap Focus Fund
Investment Objective

Alger Small Cap 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.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees
Class I Prospectus
Alger Small Cap Focus Fund
Alger Small Cap Focus Fund Class I
USD ($)
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
Class I Prospectus
Alger Small Cap Focus Fund
Alger Small Cap Focus Fund Class I
[1]
Management Fees 0.75%
Distribution and/or Shareholder Servicing (12b-1) Fees 0.25%
Other Expenses 0.56%
Total Annual Fund Operating Expenses 1.56%
Expense Reimbursement 0.36% [2]
Total Annual Fund Operating Expenses After Expense Reimbursement 1.20%
[1] The expense information in the table has been restated to reflect the current Management Fees.
[2] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class I Shares of the Fund to 1.20% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement.
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 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
1 Year
3 Years
5 Years
10 Years
Class I Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class I | USD ($) 122 457 816 1,826
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 most recent fiscal year, the Fund's portfolio turnover rate was 162.44% 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 normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.


As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.


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.

Principal Risks

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks also apply:


  Small Cap Securities Risk – there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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.


  Less Diversified Portfolio Risk – 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.


  Concentration Risk – since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.


  Leverage Risk – 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.


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.

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. 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 www.alger.com.


Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.

Annual Total Return for Class I Shares as of December 31 (%)
Bar Chart
Best Quarter:
Q2 2009 22.64%
  Worst Quarter:
Q3 2011 -22.95%
 
Average Annual Total Return as of December 31, 2015
Average Annual Returns - Class I Prospectus - Alger Small Cap Focus Fund
Average Annual Returns, 1 Year
Average Annual Returns, 5 Years
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
Alger Small Cap Focus Fund Class I 1.83% 9.23% 7.50% Mar. 03, 2008
After Taxes on Distributions | Alger Small Cap Focus Fund Class I 1.83% 7.17% 6.20%  
After Taxes on Distributions and Sale of Fund Shares | Alger Small Cap Focus Fund Class I 1.04% 7.16% 5.92%  
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes) (1.38%) 10.67% 9.43% Mar. 03, 2008

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.

XML 20 R31.htm IDEA: XBRL DOCUMENT v3.5.0.2
Label Element Value
Class I Prospectus | Alger Small Cap Focus Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Alger Small Cap Focus Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

Alger Small Cap 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.

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)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination Oct. 13, 2017
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 most recent fiscal year, the Fund's portfolio turnover rate was 162.44% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 162.44%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The expense information in the table has been restated to reflect the current Management Fees.
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 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 normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.


As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.


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.

Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks also apply:


  Small Cap Securities Risk – there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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.


  Less Diversified Portfolio Risk – 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.


  Concentration Risk – since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.


  Leverage Risk – 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.


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.

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 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.
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. 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 www.alger.com.


Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.

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 the 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 (%)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:
Q2 2009 22.64%
  Worst Quarter:
Q3 2011 -22.95%
 
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 22.64%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.95%)
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 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 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.

Caption rr_AverageAnnualReturnCaption Average Annual Total Return as of December 31, 2015
Class I Prospectus | Alger Small Cap Focus Fund | Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (1.38%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 10.67%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 9.43%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 03, 2008
Class I Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class I  
Risk/Return: rr_RiskReturnAbstract  
Shareholder Fees (fees paid directly from your investment) rr_ShareholderFeeOther none
Management Fees rr_ManagementFeesOverAssets 0.75% [1]
Distribution and/or Shareholder Servicing (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25% [1]
Other Expenses rr_OtherExpensesOverAssets 0.56% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.56% [1]
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.36% [1],[2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.20% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 122
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 457
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 816
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,826
Annual Return 2009 rr_AnnualReturn2009 46.59%
Annual Return 2010 rr_AnnualReturn2010 28.60%
Annual Return 2011 rr_AnnualReturn2011 (4.94%)
Annual Return 2012 rr_AnnualReturn2012 13.96%
Annual Return 2013 rr_AnnualReturn2013 38.19%
Annual Return 2014 rr_AnnualReturn2014 1.99%
Annual Return 2015 rr_AnnualReturn2015 1.83%
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 1.83%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 9.23%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 7.50%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Mar. 03, 2008
Class I Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class I | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 1.83%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 7.17%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 6.20%
Class I Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class I | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 1.04%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 7.16%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 5.92%
[1] The expense information in the table has been restated to reflect the current Management Fees.
[2] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class I Shares of the Fund to 1.20% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement.
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Class Z Prospectus | Alger Small Cap Focus Fund
Alger Small Cap Focus Fund
Investment Objective

Alger Small Cap 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.

Shareholder Fees (fees paid directly from your investment)
Shareholder Fees
Class Z Prospectus
Alger Small Cap Focus Fund
Alger Small Cap Focus Fund Class Z
USD ($)
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
Class Z Prospectus
Alger Small Cap Focus Fund
Alger Small Cap Focus Fund Class Z
[1]
Management Fees 0.75%
Distribution and/or Service (12b-1) Fees none
Other Expenses 0.81%
Total Annual Fund Operating Expenses 1.56%
Expense Reimbursement 0.46% [2]
Total Annual Fund Operating Expenses After Expense Reimbursement 1.10%
[1] The expense information in the table has been restated to reflect the current Management Fees and Expense Reimbursement.
[2] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class Z Shares of the Fund to 1.10% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement.
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 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 or not you redeemed your shares at the end of each period:
Expense Example
1 Year
3 Years
5 Years
10 Years
Class Z Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class Z | USD ($) 112 448 806 1,817
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 most recent fiscal year, the Fund's portfolio turnover rate was 162.44% 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 normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.


As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.


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.

Principal Risks

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks may also apply:


  Small Cap Securities Risk – there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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.


  Less Diversified Portfolio Risk – 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.


  Concentration Risk – since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.


  Leverage Risk – 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.


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.

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. 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 www.alger.com.


Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.

Annual Total Return for Class Z Shares as of December 31 (%)
Bar Chart
Best Quarter:
Q1 2012 14.33%
  Worst Quarter:
Q3 2011 -22.98%
 
Average Annual Total Return as of December 31, 2015
Average Annual Returns - Class Z Prospectus - Alger Small Cap Focus Fund
Average Annual Returns, 1 Year
Average Annual Returns, 5 Years
Average Annual Returns, Since Inception
Average Annual Returns, Inception Date
Alger Small Cap Focus Fund Class Z 2.28% 9.51% 9.41% Dec. 29, 2010
After Taxes on Distributions | Alger Small Cap Focus Fund Class Z 2.28% 7.45% 7.35%  
After Taxes on Distributions and Sale of Fund Shares | Alger Small Cap Focus Fund Class Z 1.29% 7.38% 7.29%  
Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes) (1.38%) 10.67% 10.47% Dec. 29, 2010

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.

XML 23 R38.htm IDEA: XBRL DOCUMENT v3.5.0.2
Label Element Value
Class Z Prospectus | Alger Small Cap Focus Fund  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading Alger Small Cap Focus Fund
Objective [Heading] rr_ObjectiveHeading Investment Objective
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock

Alger Small Cap 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.

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)
Fee Waiver or Reimbursement over Assets, Date of Termination rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination Oct. 13, 2017
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 most recent fiscal year, the Fund's portfolio turnover rate was 162.44% of the average value of its portfolio.

Portfolio Turnover, Rate rr_PortfolioTurnoverRate 162.44%
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent The expense information in the table has been restated to reflect the current Management Fees and Expense Reimbursement.
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 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 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 normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of companies that, at the time of purchase of the securities, have total market capitalization between (1) the higher of (a) $5 billion or (b) the company in either the Russell 2000 Growth Index or the MSCI USA Small Cap Index (each, an "Index" and together, the "Indexes") with the highest capitalization, and (2) the company in either Index with the lowest capitalization, at any time during the most recent 12-month period as reported by either Index. Both Indexes are broad-based indexes of small capitalization stocks. At June 30, 2016, the market capitalization of the companies in the Indexes ranged from $54 million to $7.9 billion. In addition, under normal market conditions, the Fund invests at least 25% of its total assets in technology companies focused in the fields of medicine and information. From time to time, the Fund may have 25% or more of its total assets invested in any one of these industries. Fred Alger Management, Inc. believes that there is very little in the field of medicine that does not use some type of medical technology and that has not been affected by new technology. Advances in technology increasingly pervade health care companies through changes in medical and surgical procedures, drugs, medical devices, and new support systems.


As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. The Fund will concentrate its holdings in a few industries. Generally the Fund will hold approximately 50 securities. The number of securities held by the Fund may occasionally exceed this range for a variety of reasons.


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.

Risk [Heading] rr_RiskHeading Principal Risks
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock

Equity Securities Risk – 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.


Growth Stocks Risk – 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.


The following risks may also apply:


  Small Cap Securities Risk – there may be greater risk in investing in smaller, less seasoned companies rather than larger, more established companies due to such factors as inexperienced management and limited product lines or financial resources. It may also 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.


  Less Diversified Portfolio Risk – 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.


  Concentration Risk – since the Fund concentrates its investments in technology companies, the value of the Fund's shares may be more volatile than mutual funds that do not similarly concentrate their investments. Furthermore because the field of medical technology is 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 those industries may be reflected in greater volatility of the stocks of companies operating in those areas. In addition, companies focused in the field of information technology can be significantly affected by intense competition, aggressive pricing, technological innovations, product obsolescence, patent considerations, product compatibility and consumer preferences.


  Leverage Risk – 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.


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.

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 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.
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. 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 www.alger.com.


Prior to August 7, 2015, the Fund followed different investment strategies under the name "Alger Growth Opportunities Fund" and prior to February 12, 2015 was managed by a different portfolio manager. Accordingly, performance prior to those dates does not reflect the Fund's current investment strategies and investment personnel.

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 the 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 Z Shares as of December 31 (%)
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock
Best Quarter:
Q1 2012 14.33%
  Worst Quarter:
Q3 2011 -22.98%
 
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel Best Quarter:
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Mar. 31, 2012
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 14.33%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel Worst Quarter:
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Sep. 30, 2011
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (22.98%)
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 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 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.

Caption rr_AverageAnnualReturnCaption Average Annual Total Return as of December 31, 2015
Class Z Prospectus | Alger Small Cap Focus Fund | Russell 2000 Growth Index (reflects no deduction for fees, expenses or taxes)  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 (1.38%)
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 10.67%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 10.47%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 29, 2010
Class Z Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class Z  
Risk/Return: rr_RiskReturnAbstract  
Shareholder Fees (fees paid directly from your investment) rr_ShareholderFeeOther none
Management Fees rr_ManagementFeesOverAssets 0.75% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.81% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.56% [1]
Expense Reimbursement rr_FeeWaiverOrReimbursementOverAssets 0.46% [1],[2]
Total Annual Fund Operating Expenses After Expense Reimbursement rr_NetExpensesOverAssets 1.10% [1]
Expense Example, with Redemption, 1 Year rr_ExpenseExampleYear01 $ 112
Expense Example, with Redemption, 3 Years rr_ExpenseExampleYear03 448
Expense Example, with Redemption, 5 Years rr_ExpenseExampleYear05 806
Expense Example, with Redemption, 10 Years rr_ExpenseExampleYear10 $ 1,817
Annual Return 2011 rr_AnnualReturn2011 (4.79%)
Annual Return 2012 rr_AnnualReturn2012 14.22%
Annual Return 2013 rr_AnnualReturn2013 38.63%
Annual Return 2014 rr_AnnualReturn2014 2.16%
Annual Return 2015 rr_AnnualReturn2015 2.28%
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 2.28%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 9.51%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 9.41%
Average Annual Returns, Inception Date rr_AverageAnnualReturnInceptionDate Dec. 29, 2010
Class Z Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class Z | After Taxes on Distributions  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 2.28%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 7.45%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 7.35%
Class Z Prospectus | Alger Small Cap Focus Fund | Alger Small Cap Focus Fund Class Z | After Taxes on Distributions and Sale of Fund Shares  
Risk/Return: rr_RiskReturnAbstract  
Average Annual Returns, 1 Year rr_AverageAnnualReturnYear01 1.29%
Average Annual Returns, 5 Years rr_AverageAnnualReturnYear05 7.38%
Average Annual Returns, Since Inception rr_AverageAnnualReturnSinceInception 7.29%
[1] The expense information in the table has been restated to reflect the current Management Fees and Expense Reimbursement.
[2] Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through October 13, 2017 to the extent necessary to limit the annual operating expenses of Class Z Shares of the Fund to 1.10% of the class's average net assets. This expense reimbursement cannot be terminated. Fred Alger Management, Inc. may recoup reimbursed expenses during the one-year term of the expense reimbursement contract if the expense ratio falls below the stated limitation at the time of the reimbursement.
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Prospectus Date rr_ProspectusDate Mar. 01, 2016
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