As filed with the Securities and Exchange Commission on September 6, 2018
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. 113 |
|
x |
and/or |
|
|
|
|
|
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 |
|
x |
Amendment No. 115 |
|
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) |
Registrants Telephone Number, including Area Code: 212-806-8800
Tina Payne, Esq.
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.
Proskauer Rose LLP
11 Times Square
New York, NY 10036
It is proposed that this filing will become effective (check appropriate box):
o immediately upon filing pursuant to paragraph (b)
x on September 6, 2018 pursuant to paragraph (b)
o 60 days after filing pursuant to paragraph (a)(1)
o on July 31, 2018 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 6th day of September, 2018.
|
THE ALGER FUNDS | |
|
| |
|
| |
|
By: /s/ Hal Liebes |
|
|
Hal Liebes, | |
|
President |
|
| ||
|
| ||
ATTEST: /s/ |
Tina Payne |
|
|
|
Tina Payne, 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 |
|
September 6, 2018 |
Hal Liebes |
|
|
(Principal Executive Officer) |
|
|
|
|
|
|
|
|
/s/ Michael D. Martins |
|
|
Treasurer |
|
September 6, 2018 |
Michael D. Martins |
|
|
(Chief Financial Officer) |
|
|
|
|
|
|
|
|
* |
|
|
Trustee |
|
September 6, 2018 |
Charles F. Baird, Jr. |
|
|
|
|
|
|
|
|
|
|
|
* |
|
|
Trustee |
|
September 6, 2018 |
Roger P. Cheever |
|
|
|
|
|
|
|
|
|
|
|
* |
|
|
Trustee |
|
September 6, 2018 |
Hilary M. Alger |
|
|
|
|
|
|
|
|
|
|
|
* |
|
|
Trustee |
|
September 6, 2018 |
Nathan E. Saint-Amand |
|
|
|
|
|
|
|
|
|
|
|
* |
|
|
Trustee |
|
September 6, 2018 |
Stephen E. ONeil |
|
|
|
|
|
|
|
|
|
|
|
* |
|
|
Trustee |
|
September 6, 2018 |
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 |
?6DV1CWYG.+ZA3? U^4;]F,9BU;XZ0SS@48,'W":.QWX,$XXY)KL.*'
M[[#HPW?0Y>">V+%M*^Y^?)JB[?RR;"D^>O,EE*U;BQ>G35(8@D\_<#>N&S$6
M+,!P^+$G8LK8X7AQVB0<==)IU/Z(G,+6$_C>BO5T3J"#
M?/C-$FPJ%WA2"H: /(,G)?E3$N])J5$CG'+$D?H1(@B"( @'$.[?>".!D("H
MB9% E_NW7=55Z'= :P#6S@FDC2&$?=1/(KYYK" (@B"(.G*P[_+M=##-*#J+
M<%XZD.E4=@1!$(1;V.K?+*QW]]%L,(T$$@Z0@T]/!$$0!.%WR @DS*%WL#U!
M$ 1!$+[!M]/!1(8@@X\@;+-AZQ;LJ0G7M:>Z<\L"+'9.62 L"!8('D]YH:A
MJC:"XKQ@XDRRY'EET>0Y9G77 F0@'KY(;1JTC2S"28(PI/XU@BD=6490NM5
ML":ALB-RF9]6K4*9U=V*)L\M:]&H$5J3$4@0KD%K @F"((CT0$]0!.$>6=[>
M?#L22$.!&<*I/*>R(PACU*/L%M[.D_!'$(0YK+P,0=2-4]@,BT8""?M0!T,0
MZ8'.X"2(S.'0\B YC611[DW3?FXY.%
M[Z)+M^[XO^^_PRG]!V' X',UW;_VXES<-?1:K-I:G;BV?B$>F*1];B6U*7%J>_1%9-^>L<&.
M -CL=W<+! @@&P8! LR(! ,+&KFS&&X.YRU-9K"$ "HA*DNAW=B-3M[(Y$
M8K^E:&S'MR1!*FF:TV7A9'NGC2$VL))YZNE@^99Z]>@@3^FH=T_QUD?X>;U$
M:GH)4;066A/V\7I^>CU^(NS9LP?#[KT?K=JTQ9^__X9S3SM!TPA<\=./^&?U
M7RD'W7Z[^"N<,F 0OE>=6SECRN-XO.[ N2_"MO,X@>\D%K#?D$01 $01 .X]N1P(R82E+R@.AD
M+%(C(E\3&%LG**E\R=\8PDM%?!TA01 $01 $'SHBQG6TCW>,&WSRMX?(#4#^
M\3"0R8L;F63^$01!$ 217L@(- %+O#9.?8YZW7W9R!YO7:#\-V_-H-%9^ 1!
M$ 1!$$Y!T\%FD-1O]I"_,21I_,FG@R'SH3WURU2)89E)'T$0!$$0OH&F@UU'
M/4HG'[U+'064CP?+NVT0DS1\$01 $01".X]N1P(P,E7'#D^I>&Y>Z5E"2
MC>A)2*X1U$;Y[F :"B1R&EH>:P_*/X)P#J^V)SHB)HY;I:,TZP#430?SC3NU
MT2=?,YB4IZY=VO(((F?PA,*U&@D/1-X#42"(K,$3[ 6]FY@?=+GW&TK1$1$1"), E6%
M0H([>/4W>(CN,1/=(&*0_"G<(4Q$1$1D!9- 1XC.\)D]%"#\/I,_(B(B2HR$
MC ET@M$H.M$Y.*OTMWU\6;G9Y6!M%.'W9)YDY;NB;)4VB&(UC%^Q++-R5.I0
MW39]^)1]2SHFPJ,UPN%,JTLI\:Q2QZ5I?5MJEL>SO(E&^T;\-@NE/'OM$S
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MS85%^;E,SBZ;^YMT1,RNYPK;-BLN%/
MG5Y>&J'Z;C8/W'Z\R72>>J$\K9:5V_&S4A]M_/VQ\F>\].Q3N/6^AW'YC7>@
MM&$CS'GF<86;2"2"8_OVQZ5#;\--]SZ U;__BL7_^Q!@P-]__H:6[=JA19NV
MBGC]ON(GY(7R<-&0FQ (!O#'RI]165F!^;.GX[(;;T]-HSI-\FM:GT8RU/=<
M04IOW0#'#<^=5_YX\FQ7]VU#KL2TN:]@UC.3
MT;IM._2E33V.4%U5A:YMFP *BLK46S2+J*10#-ARLX)E(_\J=<$QJ_+!XJC
MJA'":-V(8)23BN1!FP1!$ 21/AB -UZ>AY^6+T/%CNT8./@\S4TV_YW^#)JU
M:(&=.RMP_B57H'7;=EC^W3=HWK)5PO@XXNC>F#9Y(JZZ_D8T;-0(Y5NW("I%
MT:AQ8_S]YRK\^LM/N.KZ&UU,879CUT[PK1&8&2M0^5H=^1F!L2@IC<38?>4]
M0+F>(3$U+$L+@P0I$^DC"((@YTLB3^TJ.]LF_:V\0(0A"#ZTV:G& R[/D2CH)PJ]H
M#83ZH8VFU0B\\LHK$]\E24)>7A[JU:L' %BP8 &AT* .CPN8+-'Q!C,'SG32$1$1.21'Y^/K9MVQ:9=N[<
M.
:M6KL3*%4_87)/#8P+KZ^LC?S
Class A, B, C Prospectus | Alger International Focus Fund | |||||||||||||||||||||||||||||||||||||||||||||||||||
Alger International Focus Fund | |||||||||||||||||||||||||||||||||||||||||||||||||||
Investment Objective | |||||||||||||||||||||||||||||||||||||||||||||||||||
Alger International Focus Fund seeks long-term capital appreciation. | |||||||||||||||||||||||||||||||||||||||||||||||||||
Fund Fees and Expenses | |||||||||||||||||||||||||||||||||||||||||||||||||||
This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in Class A Shares of the Alger Family of Funds, including the Fund. More information about these and other discounts is available from your financial professional and in "Purchasing and Redeeming Fund Shares" on page A-2 and Appendix A – Waivers and Discounts Available from Intermediaries on page A-21 of the Fund's Prospectus, and in 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) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||||||||||||||||||||||||
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: | |||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||
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 148.35% of the average value of its portfolio. | |||||||||||||||||||||||||||||||||||||||||||||||||||
Principal Investment Strategy | |||||||||||||||||||||||||||||||||||||||||||||||||||
The Fund invests in companies that it believes are attractively valued, high quality growth companies. High quality growth companies are those companies that have definable strategic advantages/moat and competitive positioning that offer strong earnings visibility and sustainability. Moat refers to a business' ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms. The Fund focuses on analyzing growth trajectories and identifying catalysts for future growth for companies that are in a positive earnings revision cycle. The Fund is an all-cap, all-country, opportunistic focus fund which generally holds less than 50 holdings. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose securities are primarily listed in a foreign country; or (iii) that have a majority of their assets, or derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies. Emerging market countries include all countries categorized as Emerging Markets or Frontier Markets by MSCI. The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is an unmanaged market capitalization-weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund's portfolio manager(s) may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. As a result, the Fund may engage in active trading of portfolio securities. | |||||||||||||||||||||||||||||||||||||||||||||||||||
Principal Risks | |||||||||||||||||||||||||||||||||||||||||||||||||||
An investment in the Fund involves risks. The Fund's share price may go down, which means you could lose money. 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 Risk — An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. Market Risk — Your investment in Fund shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions. 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. Small Number of Holdings Risk – Under normal circumstances, the Fund invests in a small number of issuers. Therefore, the Fund's performance may be more vulnerable to changes in the market value of a single issuer and more susceptible to risks associated with a single economic, political, or regulatory occurrence than a fund that has a higher number of holdings. Foreign Securities Risk – The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies. Emerging Markets Risk – The Fund may invest in issuers located in emerging countries (such as Brazil, Russia, India and China), and therefore may be exposed to the economies, industries, securities and currency markets of such countries, which may be adversely affected by protectionist trade policies, a slow U.S. economy, political and social instability, regional and global conflicts, terrorism and war, including actions that are contrary to the interests of the U.S. Smaller Cap Securities Risk – Investing in companies of all capitalizations involves the risk that smaller issuers in which the Fund invests may have limited product lines or financial resources, or lack management depth. It may also be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization. Portfolio Turnover (Active Trading) Risk – Because the Fund may engage in active trading of portfolio securities, it may incur increased transaction costs and brokerage commissions, both of which can lower the actual return on an investment. Active trading may also increase short-term gains and losses, which may affect the taxes a shareholder has to pay. | |||||||||||||||||||||||||||||||||||||||||||||||||||
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. Before March 28, 2018, the Fund followed different investment strategies and was managed by different portfolio managers. Prior to May 31, 2013 the Fund was named "Alger Large Cap Growth Fund," and from May 31, 2013 to August 15, 2018 the Fund was named "Alger International Growth Fund." Performance prior to March 28, 2018 reflects these prior management styles and does not reflect the Fund's current investment strategies and investment personnel. 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 (%) | |||||||||||||||||||||||||||||||||||||||||||||||||||
The year-to-date total return of the Fund's A Shares as of June 30, 2018 was (1.64%). | |||||||||||||||||||||||||||||||||||||||||||||||||||
Average Annual Total Return as of December 31, 2017 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||
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. |
Label | Element | Value | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Class A, B, C Prospectus | Alger International Focus Fund | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Alger International Focus Fund | |||||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | |||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | Alger International Focus Fund seeks long-term capital appreciation. |
|||||||||
Expense [Heading] | rr_ExpenseHeading | Fund Fees and Expenses | |||||||||
Expense Narrative [Text Block] | rr_ExpenseNarrativeTextBlock | This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $25,000 in Class A Shares of the Alger Family of Funds, including the Fund. More information about these and other discounts is available from your financial professional and in "Purchasing and Redeeming Fund Shares" on page A-2 and Appendix A – Waivers and Discounts Available from Intermediaries on page A-21 of the Fund's Prospectus, and in 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 148.35% of the average value of its portfolio. |
|||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 148.35% | |||||||||
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. 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 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 | The Fund invests in companies that it believes are attractively valued, high quality growth companies. High quality growth companies are those companies that have definable strategic advantages/moat and competitive positioning that offer strong earnings visibility and sustainability. Moat refers to a business' ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms. The Fund focuses on analyzing growth trajectories and identifying catalysts for future growth for companies that are in a positive earnings revision cycle. The Fund is an all-cap, all-country, opportunistic focus fund which generally holds less than 50 holdings. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose securities are primarily listed in a foreign country; or (iii) that have a majority of their assets, or derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies. Emerging market countries include all countries categorized as Emerging Markets or Frontier Markets by MSCI. The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is an unmanaged market capitalization-weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund's portfolio manager(s) may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. As a result, the Fund may engage in active trading of portfolio securities. |
|||||||||
Risk [Heading] | rr_RiskHeading | Principal Risks | |||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | An investment in the Fund involves risks. The Fund's share price may go down, which means you could lose money. 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 Risk — An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. Market Risk — Your investment in Fund shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions. 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. Small Number of Holdings Risk – Under normal circumstances, the Fund invests in a small number of issuers. Therefore, the Fund's performance may be more vulnerable to changes in the market value of a single issuer and more susceptible to risks associated with a single economic, political, or regulatory occurrence than a fund that has a higher number of holdings. Foreign Securities Risk – The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies. Emerging Markets Risk – The Fund may invest in issuers located in emerging countries (such as Brazil, Russia, India and China), and therefore may be exposed to the economies, industries, securities and currency markets of such countries, which may be adversely affected by protectionist trade policies, a slow U.S. economy, political and social instability, regional and global conflicts, terrorism and war, including actions that are contrary to the interests of the U.S. Smaller Cap Securities Risk – Investing in companies of all capitalizations involves the risk that smaller issuers in which the Fund invests may have limited product lines or financial resources, or lack management depth. It may also be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization. Portfolio Turnover (Active Trading) Risk – Because the Fund may engage in active trading of portfolio securities, it may incur increased transaction costs and brokerage commissions, both of which can lower the actual return on an investment. Active trading may also increase short-term gains and losses, which may affect the taxes a shareholder has to pay. |
|||||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | The Fund's share price may go down, which means you could lose money. | |||||||||
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. Before March 28, 2018, the Fund followed different investment strategies and was managed by different portfolio managers. Prior to May 31, 2013 the Fund was named "Alger Large Cap Growth Fund," and from May 31, 2013 to August 15, 2018 the Fund was named "Alger International Growth Fund." Performance prior to March 28, 2018 reflects these prior management styles and does not reflect the Fund's current investment strategies and investment personnel. 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 | 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. | |||||||||
Bar Chart Closing [Text Block] | rr_BarChartClosingTextBlock |
The year-to-date total return of the Fund's A Shares as of June 30, 2018 was (1.64%). |
|||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | year-to-date total return | |||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2018 | |||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (1.64%) | |||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter: | |||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Jun. 30, 2009 | |||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 15.77% | |||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter: | |||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Dec. 31, 2008 | |||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (26.33%) | |||||||||
Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | (reflects no deductions 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 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. |
|||||||||
Caption | rr_AverageAnnualReturnCaption | Average Annual Total Return as of December 31, 2017 | |||||||||
Class A, B, C Prospectus | Alger International Focus Fund | MSCI ACWI ex USA (reflects no deductions for fees, expenses or taxes) | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 27.77% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 7.28% | |||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 2.31% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 5.93% | [1] | ||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 31, 1996 | |||||||||
Class A, B, C Prospectus | Alger International Focus Fund | Alger International 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_MaximumDeferredSalesChargeOverOfferingPrice | none | [2] | ||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.71% | |||||||||
Distribution and/or Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | |||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.38% | |||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.34% | |||||||||
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 | 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 | 654 | |||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 927 | |||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,221 | |||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | $ 2,053 | |||||||||
Annual Return 2008 | rr_AnnualReturn2008 | (45.83%) | |||||||||
Annual Return 2009 | rr_AnnualReturn2009 | 40.97% | |||||||||
Annual Return 2010 | rr_AnnualReturn2010 | 12.67% | |||||||||
Annual Return 2011 | rr_AnnualReturn2011 | (0.51%) | |||||||||
Annual Return 2012 | rr_AnnualReturn2012 | 9.31% | |||||||||
Annual Return 2013 | rr_AnnualReturn2013 | 23.94% | |||||||||
Annual Return 2014 | rr_AnnualReturn2014 | (3.41%) | |||||||||
Annual Return 2015 | rr_AnnualReturn2015 | 0.97% | |||||||||
Annual Return 2016 | rr_AnnualReturn2016 | (5.50%) | |||||||||
Annual Return 2017 | rr_AnnualReturn2017 | 26.70% | |||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 20.01% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 6.51% | |||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 2.53% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 5.49% | [1] | ||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 31, 1996 | |||||||||
Class A, B, C Prospectus | Alger International Focus Fund | Alger International Focus Fund Class A | After Taxes on Distributions | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 17.39% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 5.79% | |||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 2.14% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 4.68% | [1] | ||||||||
Class A, B, C Prospectus | Alger International Focus Fund | Alger International Focus Fund Class A | After Taxes on Distributions and Sale of Fund Shares | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 11.29% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 4.74% | |||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 1.78% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 4.24% | [1] | ||||||||
Class A, B, C Prospectus | Alger International Focus Fund | Alger International Focus 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_MaximumDeferredSalesChargeOverOfferingPrice | 5.00% | |||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.71% | |||||||||
Distribution and/or Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | |||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.34% | |||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.05% | |||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 708 | |||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 943 | |||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,303 | |||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 2,197 | |||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 208 | |||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 643 | |||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 1,103 | |||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 2,197 | |||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 20.80% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 6.60% | |||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 2.51% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 5.46% | [1] | ||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Nov. 11, 1986 | |||||||||
Class A, B, C Prospectus | Alger International Focus Fund | Alger International 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_MaximumDeferredSalesChargeOverOfferingPrice | 1.00% | |||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.71% | |||||||||
Distribution and/or Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 1.00% | |||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.42% | |||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 2.13% | |||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 316 | |||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 667 | |||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 1,144 | |||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 2,462 | |||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 216 | |||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 667 | |||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 1,144 | |||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 2,462 | |||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 24.69% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 6.84% | |||||||||
Average Annual Returns, 10 Years | rr_AverageAnnualReturnYear10 | 2.28% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 5.29% | [1] | ||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Jul. 31, 1997 | |||||||||
|
SR*BMOAXO^\/F=- R1F:H_N9W^F-BDD@B!RAE.%)&V7C2 (
M_T$*R16HC^,_2*;Y@!02D04K7G.WTB9RBW=E*O6P?V;EM>XPT76F^9X,QS6?
MHO#:.*)\14-8HK3URI,M/SVOJCH/=5GT\C;*GV^AQK24,=4Y1F
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M44I6[GUU>AXWD.152 3A)ZQ:1MDL'G4Z',CX74ROXI,N&]E*
Q WWWH[ILZHPEVW308 [-BV#<%0"/\]^78$ @%\LGT;#M8?
MQ.+?_@:WWGF7)@?1IA=VAB3\*U.CGSG2RE.T^%8T,F>4?F8919_)8^WWQ*
.SX2U%:6II1#O7WRWYY)4*A4$:8B9=?@6.Z=@4#
M\,7GGZ//R7W! '3HT %U^_># :C;OQ\=.W;$O=.GX>Z9LQ!0%-/MX^6_?,E4
MB^A
Class I Prospectus | Alger International Focus Fund | |||||||||||||||||||||||
Alger International Focus Fund | |||||||||||||||||||||||
Investment Objective | |||||||||||||||||||||||
Alger International 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) | |||||||||||||||||||||||
| |||||||||||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||
| |||||||||||||||||||||||
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. The one-year example and the first year of the three-, five- and ten-years examples are based on net operating expenses, which reflect the contractual expense limitation agreed to by Fred Alger Management, Inc. | |||||||||||||||||||||||
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: | |||||||||||||||||||||||
| |||||||||||||||||||||||
| |||||||||||||||||||||||
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 148.35% of the average value of its portfolio. | |||||||||||||||||||||||
Principal Investment Strategy | |||||||||||||||||||||||
The Fund invests in companies that it believes are attractively valued, high quality growth companies. High quality growth companies are those companies that have definable strategic advantages/moat and competitive positioning that offer strong earnings visibility and sustainability. Moat refers to a business' ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms. The Fund focuses on analyzing growth trajectories and identifying catalysts for future growth for companies that are in a positive earnings revision cycle. The Fund is an all-cap, all-country, opportunistic focus fund which generally holds less than 50 holdings. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose securities are primarily listed in a foreign country; or (iii) that have a majority of their assets, or derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies. Emerging market countries include all countries categorized as Emerging Markets or Frontier Markets by MSCI. The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is an unmanaged, market capitalization-weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund's portfolio manager(s) may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. As a result, the Fund may engage in active trading of portfolio securities. | |||||||||||||||||||||||
Principal Risks | |||||||||||||||||||||||
An investment in the Fund involves risks. The Fund's share price may go down, which means you could lose money. 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 Risk – An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. Market Risk – Your investment in Fund shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions. 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. Small Number of Holdings Risk – Under normal circumstances, the Fund invests in a small number of issuers. Therefore, the Fund's performance may be more vulnerable to changes in the market value of a single issuer and more susceptible to risks associated with a single economic, political, or regulatory occurrence than a fund that has a higher number of holdings. 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. Foreign Securities Risk – The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies. Emerging Markets Risk – The Fund may invest in issuers located in emerging countries (such as Brazil, Russia, India and China), and therefore may be exposed to the economies, industries, securities and currency markets of such countries, which may be adversely affected by protectionist trade policies, a slow U.S. economy, political and social instability, regional and global conflicts, terrorism and war, including actions that are contrary to the interests of the U.S. Smaller Cap Securities Risk – Investing in companies of all capitalizations involves the risk that smaller issuers in which the Fund invests may have limited product lines or financial resources, or lack management depth. It may also be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization. Portfolio Turnover (Active Trading) Risk – Because the Fund may engage in active trading of portfolio securities, it may incur increased transaction costs and brokerage commissions, both of which can lower the actual return on an investment. Active trading may also increase short-term gains and losses, which may affect the taxes a shareholder has to pay. | |||||||||||||||||||||||
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. Before March 28, 2018, the Fund followed different investment strategies and was managed by different portfolio managers. Prior to August 15, 2018 the Fund was named "Alger International Growth Fund." Performance prior to March 28, 2018 reflects these prior management styles and does not reflect the Fund's current investment strategies and investment personnel. 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 I Shares as of December 31 (%) | |||||||||||||||||||||||
The year-to-date total return of the Fund's I Shares as of June 30, 2018 was (1.58%). | |||||||||||||||||||||||
Average Annual Total Return as of December 31, 2017 | |||||||||||||||||||||||
| |||||||||||||||||||||||
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. |
Label | Element | Value | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Class I Prospectus | Alger International Focus Fund | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Alger International Focus Fund | |||||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | |||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | Alger International 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 | Aug. 15, 2019 | |||||||||
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 148.35% of the average value of its portfolio. |
|||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 148.35% | |||||||||
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. The one-year example and the first year of the three-, five- and ten-years examples are based on net operating expenses, which reflect the contractual expense limitation agreed to by Fred Alger Management, Inc. |
|||||||||
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 | The Fund invests in companies that it believes are attractively valued, high quality growth companies. High quality growth companies are those companies that have definable strategic advantages/moat and competitive positioning that offer strong earnings visibility and sustainability. Moat refers to a business' ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms. The Fund focuses on analyzing growth trajectories and identifying catalysts for future growth for companies that are in a positive earnings revision cycle. The Fund is an all-cap, all-country, opportunistic focus fund which generally holds less than 50 holdings. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose securities are primarily listed in a foreign country; or (iii) that have a majority of their assets, or derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies. Emerging market countries include all countries categorized as Emerging Markets or Frontier Markets by MSCI. The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is an unmanaged, market capitalization-weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund's portfolio manager(s) may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. As a result, the Fund may engage in active trading of portfolio securities. |
|||||||||
Risk [Heading] | rr_RiskHeading | Principal Risks | |||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | An investment in the Fund involves risks. The Fund's share price may go down, which means you could lose money. 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 Risk – An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. Market Risk – Your investment in Fund shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions. 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. Small Number of Holdings Risk – Under normal circumstances, the Fund invests in a small number of issuers. Therefore, the Fund's performance may be more vulnerable to changes in the market value of a single issuer and more susceptible to risks associated with a single economic, political, or regulatory occurrence than a fund that has a higher number of holdings. 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. Foreign Securities Risk – The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies. Emerging Markets Risk – The Fund may invest in issuers located in emerging countries (such as Brazil, Russia, India and China), and therefore may be exposed to the economies, industries, securities and currency markets of such countries, which may be adversely affected by protectionist trade policies, a slow U.S. economy, political and social instability, regional and global conflicts, terrorism and war, including actions that are contrary to the interests of the U.S. Smaller Cap Securities Risk – Investing in companies of all capitalizations involves the risk that smaller issuers in which the Fund invests may have limited product lines or financial resources, or lack management depth. It may also be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization. Portfolio Turnover (Active Trading) Risk – Because the Fund may engage in active trading of portfolio securities, it may incur increased transaction costs and brokerage commissions, both of which can lower the actual return on an investment. Active trading may also increase short-term gains and losses, which may affect the taxes a shareholder has to pay. |
|||||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | The Fund's share price may go down, which means you could lose money. | |||||||||
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. Before March 28, 2018, the Fund followed different investment strategies and was managed by different portfolio managers. Prior to August 15, 2018 the Fund was named "Alger International Growth Fund." Performance prior to March 28, 2018 reflects these prior management styles and does not reflect the Fund's current investment strategies and investment personnel. 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 | 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 |
The year-to-date total return of the Fund's I Shares as of June 30, 2018 was (1.58%). |
|||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | year-to-date total return | |||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2018 | |||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (1.58%) | |||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter: | |||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Sep. 30, 2017 | |||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 8.03% | |||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter: | |||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Sep. 30, 2015 | |||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (10.42%) | |||||||||
Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | (reflects no deductions 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, 2017 | |||||||||
Class I Prospectus | Alger International Focus Fund | MSCI ACWI ex USA (reflects no deductions for fees, expenses or taxes) | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 27.77% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 6.88% | |||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | May 31, 2013 | |||||||||
Class I Prospectus | Alger International Focus Fund | Alger International Focus Fund Class I | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Shareholder Fees (fees paid directly from your investment) | rr_ShareholderFeeOther | none | |||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.71% | |||||||||
Distribution and/or Shareholder Servicing (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | 0.25% | |||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.52% | |||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.48% | |||||||||
Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.33%) | [1] | ||||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 1.15% | |||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 117 | |||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 436 | |||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 777 | |||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 1,740 | |||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 117 | |||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 436 | |||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 777 | |||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,740 | |||||||||
Annual Return 2014 | rr_AnnualReturn2014 | (3.24%) | |||||||||
Annual Return 2015 | rr_AnnualReturn2015 | 1.13% | |||||||||
Annual Return 2016 | rr_AnnualReturn2016 | (5.28%) | |||||||||
Annual Return 2017 | rr_AnnualReturn2017 | 26.88% | |||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 26.88% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 6.52% | |||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | May 31, 2013 | |||||||||
Class I Prospectus | Alger International Focus Fund | Alger International Focus Fund Class I | After Taxes on Distributions | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 24.22% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 5.64% | |||||||||
Class I Prospectus | Alger International Focus Fund | Alger International Focus Fund Class I | After Taxes on Distributions and Sale of Fund Shares | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 15.18% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 4.65% | |||||||||
|
XE3R((;^1?HM\8PH*9A8%!H6"L>6+!GY+^3$F&< M[VK_U'88QX[=.-FTQXNV93_-.C.35G6>\'Z;\
&$-ZTI0UD1M\\_-VO/;9>H ),;D)A<'"$;!()%F^
MPA$@% $+A0#&(# &298!280LBI"KHD!"I@Y5RUFT1K9D"3TZ=D#7]L?YDJZ*
M\G+\Y<@F ("RLC+4M:%;:)J7(,P0F"XG01#IP)=IWAT[=F#BQ(E8MVX=-FW:
M!"!V-G'\^/'(R\O#[MV[T;-G3PP:-,BTGV[MP"*R#T_JA8ZG5 \)PGW\;.,#
MLYOW_???Q\"! [%NW;K$LQ=??!%%1458OGPY1%'$\<)W:6FII2G>:#2*:#3*-1,$@7LFDB!L0PJ3( */
M*(J0)"GEN98NL8)ORE2692A/X5QTT458M6H51HX
Class Z Prospectus | Alger International Focus Fund | |||||||||||||||||||||||||
Alger International Focus Fund | |||||||||||||||||||||||||
Investment Objective | |||||||||||||||||||||||||
Alger International 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) | |||||||||||||||||||||||||
| |||||||||||||||||||||||||
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | |||||||||||||||||||||||||
| |||||||||||||||||||||||||
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. The one-year example and the first year of the three-, five- and ten-years examples are based on net operating expenses, which reflect the contractual expense limitation agreed to by Fred Alger Management, Inc. | |||||||||||||||||||||||||
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: | |||||||||||||||||||||||||
| |||||||||||||||||||||||||
| |||||||||||||||||||||||||
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 148.35% of the average value of its portfolio. | |||||||||||||||||||||||||
Principal Investment Strategy | |||||||||||||||||||||||||
The Fund invests in companies that it believes are attractively valued, high quality growth companies. High quality growth companies are those companies that have definable strategic advantages/moat and competitive positioning that offer strong earnings visibility and sustainability. Moat refers to a business' ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms. The Fund focuses on analyzing growth trajectories and identifying catalysts for future growth for companies that are in a positive earnings revision cycle. The Fund is an all-cap, all-country, opportunistic focus fund which generally holds less than 50 holdings. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose securities are primarily listed in a foreign country; or (iii) that have a majority of their assets, or derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies. Emerging market countries include all countries categorized as Emerging Markets or Frontier Markets by MSCI. The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is an unmanaged market capitalization-weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund's portfolio manager(s) may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. As a result, the Fund may engage in active trading of portfolio securities. | |||||||||||||||||||||||||
Principal Risks | |||||||||||||||||||||||||
An investment in the Fund involves risks. The Fund's share price may go down, which means you could lose money. 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 Risk – An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. Market Risk – Your investment in Fund shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions. 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. Small Number of Holdings Risk – Under normal circumstances, the Fund invests in a small number of issuers. Therefore, the Fund's performance may be more vulnerable to changes in the market value of a single issuer and more susceptible to risks associated with a single economic, political, or regulatory occurrence than a fund that has a higher number of holdings. 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. Foreign Securities Risk – The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies. Emerging Markets Risk – The Fund may invest in issuers located in emerging countries (such as Brazil, Russia, India and China), and therefore may be exposed to the economies, industries, securities and currency markets of such countries, which may be adversely affected by protectionist trade policies, a slow U.S. economy, political and social instability, regional and global conflicts, terrorism and war, including actions that are contrary to the interests of the U.S. Smaller Cap Securities Risk – Investing in companies of all capitalizations involves the risk that smaller issuers in which the Fund invests may have limited product lines or financial resources, or lack management depth. It may also be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization. Portfolio Turnover (Active Trading) Risk – Because the Fund may engage in active trading of portfolio securities, it may incur increased transaction costs and brokerage commissions, both of which can lower the actual return on an investment. Active trading may also increase short-term gains and losses, which may affect the taxes a shareholder has to pay. | |||||||||||||||||||||||||
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. Before March 28, 2018, the Fund followed different investment strategies and was managed by different portfolio managers. Prior to May 31, 2013 the Fund was named "Alger Large Cap Growth Fund," and from May 31, 2013 to August 15, 2018 the Fund was named "Alger International Growth Fund." Performance prior to March 28, 2018 reflects these prior management styles and does not reflect the Fund's current investment strategies and investment personnel. 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 (%) | |||||||||||||||||||||||||
The year-to-date total return of the Fund's Z Shares as of June 30, 2018 was (1.45%). | |||||||||||||||||||||||||
Average Annual Total Return as of December 31, 2017 | |||||||||||||||||||||||||
| |||||||||||||||||||||||||
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. |
Label | Element | Value | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Class Z Prospectus | Alger International Focus Fund | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Risk/Return [Heading] | rr_RiskReturnHeading | Alger International Focus Fund | |||||||||
Objective [Heading] | rr_ObjectiveHeading | Investment Objective | |||||||||
Objective, Primary [Text Block] | rr_ObjectivePrimaryTextBlock | Alger International 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 | Aug. 15, 2019 | |||||||||
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 148.35% of the average value of its portfolio. |
|||||||||
Portfolio Turnover, Rate | rr_PortfolioTurnoverRate | 148.35% | |||||||||
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. The one-year example and the first year of the three-, five- and ten-years examples are based on net operating expenses, which reflect the contractual expense limitation agreed to by Fred Alger Management, Inc. |
|||||||||
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 | The Fund invests in companies that it believes are attractively valued, high quality growth companies. High quality growth companies are those companies that have definable strategic advantages/moat and competitive positioning that offer strong earnings visibility and sustainability. Moat refers to a business' ability to maintain competitive advantages over its competitors in order to protect its long-term profits and market share from competing firms. The Fund focuses on analyzing growth trajectories and identifying catalysts for future growth for companies that are in a positive earnings revision cycle. The Fund is an all-cap, all-country, opportunistic focus fund which generally holds less than 50 holdings. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies (i) that are organized under the laws of a foreign country; (ii) whose securities are primarily listed in a foreign country; or (iii) that have a majority of their assets, or derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the U.S. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies. Emerging market countries include all countries categorized as Emerging Markets or Frontier Markets by MSCI. The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund's benchmark is the Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) ex USA, which is an unmanaged market capitalization-weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States. The Fund's portfolio manager(s) may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. As a result, the Fund may engage in active trading of portfolio securities. |
|||||||||
Risk [Heading] | rr_RiskHeading | Principal Risks | |||||||||
Risk Narrative [Text Block] | rr_RiskNarrativeTextBlock | An investment in the Fund involves risks. The Fund's share price may go down, which means you could lose money. 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 Risk – An investment in the Fund is subject to investment risk, including the possible loss of the entire principal amount that you invest. Market Risk – Your investment in Fund shares represents an indirect investment in the securities owned by the Fund. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Your Fund shares at any point in time may be worth less than what you invested, even after taking into account the reinvestment of Fund dividends and distributions. 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. Small Number of Holdings Risk – Under normal circumstances, the Fund invests in a small number of issuers. Therefore, the Fund's performance may be more vulnerable to changes in the market value of a single issuer and more susceptible to risks associated with a single economic, political, or regulatory occurrence than a fund that has a higher number of holdings. 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. Foreign Securities Risk – The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign issuers, particularly emerging country issuers. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and differing auditing and legal standards. The securities of issuers located in emerging markets can be more volatile, and less liquid, than those of issuers in more mature economies. Emerging Markets Risk – The Fund may invest in issuers located in emerging countries (such as Brazil, Russia, India and China), and therefore may be exposed to the economies, industries, securities and currency markets of such countries, which may be adversely affected by protectionist trade policies, a slow U.S. economy, political and social instability, regional and global conflicts, terrorism and war, including actions that are contrary to the interests of the U.S. Smaller Cap Securities Risk – Investing in companies of all capitalizations involves the risk that smaller issuers in which the Fund invests may have limited product lines or financial resources, or lack management depth. It may also be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of stocks of smaller market capitalization. Portfolio Turnover (Active Trading) Risk – Because the Fund may engage in active trading of portfolio securities, it may incur increased transaction costs and brokerage commissions, both of which can lower the actual return on an investment. Active trading may also increase short-term gains and losses, which may affect the taxes a shareholder has to pay. |
|||||||||
Risk Lose Money [Text] | rr_RiskLoseMoney | The Fund's share price may go down, which means you could lose money. | |||||||||
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. Before March 28, 2018, the Fund followed different investment strategies and was managed by different portfolio managers. Prior to May 31, 2013 the Fund was named "Alger Large Cap Growth Fund," and from May 31, 2013 to August 15, 2018 the Fund was named "Alger International Growth Fund." Performance prior to March 28, 2018 reflects these prior management styles and does not reflect the Fund's current investment strategies and investment personnel. 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 | 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 |
The year-to-date total return of the Fund's Z Shares as of June 30, 2018 was (1.45%). |
|||||||||
Year to Date Return, Label | rr_YearToDateReturnLabel | year-to-date total return | |||||||||
Bar Chart, Year to Date Return, Date | rr_BarChartYearToDateReturnDate | Jun. 30, 2018 | |||||||||
Bar Chart, Year to Date Return | rr_BarChartYearToDateReturn | (1.45%) | |||||||||
Highest Quarterly Return, Label | rr_HighestQuarterlyReturnLabel | Best Quarter: | |||||||||
Highest Quarterly Return, Date | rr_BarChartHighestQuarterlyReturnDate | Mar. 31, 2012 | |||||||||
Highest Quarterly Return | rr_BarChartHighestQuarterlyReturn | 14.29% | |||||||||
Lowest Quarterly Return, Label | rr_LowestQuarterlyReturnLabel | Worst Quarter: | |||||||||
Lowest Quarterly Return, Date | rr_BarChartLowestQuarterlyReturnDate | Sep. 30, 2011 | |||||||||
Lowest Quarterly Return | rr_BarChartLowestQuarterlyReturn | (14.31%) | |||||||||
Index No Deduction for Fees, Expenses, Taxes [Text] | rr_IndexNoDeductionForFeesExpensesTaxes | (reflects no deductions 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, 2017 | |||||||||
Class Z Prospectus | Alger International Focus Fund | MSCI ACWI ex USA (reflects no deductions for fees, expenses or taxes) | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 27.77% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 7.28% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 5.49% | |||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 29, 2010 | |||||||||
Class Z Prospectus | Alger International Focus Fund | Alger International Focus Fund Class Z | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Shareholder Fees (fees paid directly from your investment) | rr_ShareholderFeeOther | none | |||||||||
Management Fees | rr_ManagementFeesOverAssets | 0.71% | |||||||||
Distribution and/or Service (12b-1) Fees | rr_DistributionAndService12b1FeesOverAssets | none | |||||||||
Other Expenses | rr_OtherExpensesOverAssets | 0.32% | |||||||||
Total Annual Fund Operating Expenses | rr_ExpensesOverAssets | 1.03% | |||||||||
Fee Waiver and/or Expense Reimbursement | rr_FeeWaiverOrReimbursementOverAssets | (0.14%) | [1] | ||||||||
Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement | rr_NetExpensesOverAssets | 0.89% | |||||||||
Expense Example, with Redemption, 1 Year | rr_ExpenseExampleYear01 | $ 91 | |||||||||
Expense Example, with Redemption, 3 Years | rr_ExpenseExampleYear03 | 314 | |||||||||
Expense Example, with Redemption, 5 Years | rr_ExpenseExampleYear05 | 555 | |||||||||
Expense Example, with Redemption, 10 Years | rr_ExpenseExampleYear10 | 1,247 | |||||||||
Expense Example, No Redemption, 1 Year | rr_ExpenseExampleNoRedemptionYear01 | 91 | |||||||||
Expense Example, No Redemption, 3 Years | rr_ExpenseExampleNoRedemptionYear03 | 314 | |||||||||
Expense Example, No Redemption, 5 Years | rr_ExpenseExampleNoRedemptionYear05 | 555 | |||||||||
Expense Example, No Redemption, 10 Years | rr_ExpenseExampleNoRedemptionYear10 | $ 1,247 | |||||||||
Annual Return 2011 | rr_AnnualReturn2011 | (0.34%) | |||||||||
Annual Return 2012 | rr_AnnualReturn2012 | 9.77% | |||||||||
Annual Return 2013 | rr_AnnualReturn2013 | 24.51% | |||||||||
Annual Return 2014 | rr_AnnualReturn2014 | (2.97%) | |||||||||
Annual Return 2015 | rr_AnnualReturn2015 | 1.37% | |||||||||
Annual Return 2016 | rr_AnnualReturn2016 | (5.03%) | |||||||||
Annual Return 2017 | rr_AnnualReturn2017 | 27.27% | |||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 27.27% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 8.16% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 7.08% | |||||||||
Average Annual Returns, Inception Date | rr_AverageAnnualReturnInceptionDate | Dec. 29, 2010 | |||||||||
Class Z Prospectus | Alger International Focus Fund | Alger International Focus Fund Class Z | After Taxes on Distributions | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 24.32% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 7.28% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 6.40% | |||||||||
Class Z Prospectus | Alger International Focus Fund | Alger International Focus Fund Class Z | After Taxes on Distributions and Sale of Fund Shares | |||||||||||
Risk/Return: | rr_RiskReturnAbstract | ||||||||||
Average Annual Returns, 1 Year | rr_AverageAnnualReturnYear01 | 15.39% | |||||||||
Average Annual Returns, 5 Years | rr_AverageAnnualReturnYear05 | 5.98% | |||||||||
Average Annual Returns, Since Inception | rr_AverageAnnualReturnSinceInception | 5.29% | |||||||||
|
Label | Element | Value |
---|---|---|
Risk/Return: | rr_RiskReturnAbstract | |
Prospectus Date | rr_ProspectusDate | Aug. 15, 2018 |
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
CO&PJ&!P%JT
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M%NAD\#XX%\ZX'P _
MO]:0''UFNH-LO>U?(Z=N!R0[Q';UJC0ZKSLZ@1M4'J/V&+7'J#U&[3%JCU%[
MC-ICU!X;U1[G?N@_Y%.7;'Y^\4SCHR2AJ6X/(C2[$16B.ML3P^CN17IRK]YC
MFEUC2N/G8$*)=T>@<5!VLZ%E6M7(J./"UTG/]2A_/EAD1%8WM6E'-1)"&NBZ
ML7#B#L*6I\6E!.VEQ.<$P(C@G!,2$X)@3'A."8$!P3@F-"<(,)P=;BHM%L,0\_^W/=
MR5V'\0TEH91F?5U&>N3
MLJDK^%M)<,?9Z6BT]^Q8GP8V(G+;/7F::NX]/=:GYIE1W*TER.V[+"7 +WKM
M9LRJZL<^M36/+^I5K#>P:[C3)IO-Q!*=98"A5S*Q%O/R"0 LJ#@1HP?9PRF(
ML'RI8AWXX-U5*J[7Z9V)3!VFN1ZL\EM@V
M8 %7-<]8%'KFX9FQ^%L3?^MAQG]=-R<1P[M<.3(OG7#E<#"2CP;,X( ?
GS$IRN@A7OYS_[X?\?X_?OLD>\M>KL^*%_.RO9VWE
M/7^2]]FOO#?_*._SIHD!E[64Z6)&KQ_]F#Y&LRF-3RE-6)"VB/H[2ZVPQ\4^
MZU$8+A@A!N?B*?OT6<_P\>6)ALG2H]?_N3LMOE_U!M#W6+GX^.)G?_LF]L/D
M*4KH-'.YW?\EY.9,-)IUCY^C*SJE\Z>L :][W]%]&9GI_,5,-+";*/5GRR\X
M^>#'QZQMIYG+W:'M2VS0Q#NPH
//H)32Z>:7QQ?T]C)C OXV"BJV*&^=Q4AEQ-]@SDJ/+I#(OH"66.8CJM
M/)&A."IY48A';U:NP['R.I1.XP2S+F&<9
M\RQCGF7,LXQYEC'/,N99QCS+F&>Q@_.89_DA\BRA_Y!/Q3,9FJG*HR2AJ>Z(
M*#2[D1TDJNI%#*.[B??D?A*P)PCN%CF <'I-XV\%$]IU-@*["M-J7 3T=YL+[;H:@
,5G=)Y[A$Z,>KAR(G8R%%U
M7P>BW6M%I7?3/9C
C4?%@ZG"L"ZKXU8DC^&1P(ESX#&63HPC$+ZA<_R-;&XBL:S.\6<9+K'AAU
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MLO9;ZH6+APNZ$+>8=S(8U7FR]-2X5C!,[;X6FWT'X8"84#>-N2,8F$QX'G$B_9H^1TH=7S/I.W9JMG!MO
MS:]?P*ER[@*NP26&[5V\E-'@[($;V+F[XD3/<11.:)C]%'#AB-RX[6U>Q(2'
M0;*0W+>&+GLDW/UR]J_0K[TOQRG3O -XPKL3@5%+IRHB!)PV4M1FON!S1(%1
MBW%+YH/[T(K;S!=X%MAJTM;^N?W].6G<
M@RD-I\E1R/[,GCNX6V2\$G#$AKNW4W+J4RVJ$Z%F)E=T2N>Y.F"3ULQ1^0/=
M;*W$LJ6S$"F,XK0H<.ZQYA#)V]X!I_;*Q59C;-IEDI?^1#=IL5U;AP\)B6*'
M)FS0J#C#@;9X'6+M?3E.X"'^U7!Q-)E$BS!=A? H26BJNP@OLVQIWRR%P>$C
M:_8U'**9.T.Z7%]#ZN[U?!EBUMAFT