EX-99.(D-8) 7 d814723dex99d8.htm FEE WAIVER AGREEMENT 9.13.22 Fee Waiver Agreement 9.13.22

Exhibit (d-8)

September 13, 2022

The Alger Funds

100 Pearl Street, 27th Floor

New York, NY 10004

Dear Sirs:

Fred Alger Management, LLC (“FAM”) hereby agrees to waive fees owed to it by, or to reimburse expenses of, the share classes of each series (each, a “Fund”) of The Alger Funds (the “Trust”) listed on Schedule A for the expense cap period indicated. FAM will waive its fees and/or reimburse expenses to the extent total operating expenses exceed the rate of average daily net assets indicated on Schedule A. This expense limitation does not include acquired fund fees and expenses, dividend expense on short sales, borrowing costs, interest, taxes, brokerage and extraordinary expenses.

FAM understands and intends that the Trust will rely on this agreement in preparing and filing its registration statements on Form N-1A and in accruing each Fund’s expenses for purposes of calculating net asset value and for other purposes.

This Agreement may only be amended or terminated prior to its expiration date by agreement between FAM and the Trust’s Board of Trustees, and will terminate automatically in the event of termination of the Investment Advisory Agreement between FAM and the Trust, on behalf of each Fund. FAM may, during the two-year period of this Agreement, recoup any fees waived or expenses reimbursed pursuant to this Agreement; however, a Fund will only make repayments to FAM if such repayment does not cause the Fund’s expense ratio, after the repayment is taken into account, to exceed both (i) the expense cap in place at the time such amounts were waived or reimbursed, and (ii) the Fund’s current expense cap. Such recoupment is limited to two years from the date the amount is initially waived or reimbursed.

Please acknowledge acceptance on the enclosed copy of this letter.

Very truly yours,

Fred Alger Management, LLC

 

/s/ Tina Payne

By: Tina Payne, SVP, CCO, General Counsel
Accepted by:
The Alger Funds

/s/ Hal Liebes

By: Hal Liebes, President

 

1


SCHEDULE A

 

Fund Name

   Share
Class
   Fiscal Year
End
   Expense
Cap
   

Expense Cap Period

Alger Capital Appreciation Fund

   Z    October 31      0.85   February 28, 2023 – February 28, 2025

Alger International Focus Fund

   I    October 31      1.25   February 28, 2023 – February 28, 2025

Alger International Focus Fund

   Z    October 31      0.84   February 28, 2023 – February 28, 2025

Alger Mid Cap Growth Fund

   Z    October 31      0.99   February 28, 2023 – February 28, 2025

Alger Mid Cap Focus Fund

   A    October 31      1.15   February 28, 2023 – February 28, 2025

Alger Mid Cap Focus Fund

   C    October 31      1.90   February 28, 2023 – February 28, 2025

Alger Mid Cap Focus Fund

   I    October 31      1.20   February 28, 2023 – February 28, 2025

Alger Mid Cap Focus Fund

   Y    October 31      0.69   February 28, 2023 – February 28, 2025

Alger Mid Cap Focus Fund

   Z    October 31      0.99   February 28, 2023 – February 28, 2025

Alger Weatherbie Specialized Growth Fund

   Y    October 31      0.87   February 28, 2023 – February 28, 2025

Alger Small Cap Growth Fund

   Y    October 31      0.84   February 28, 2023 – February 28, 2025

Alger Small Cap Growth Fund

   Z    October 31      0.99   February 28, 2023 – February 28, 2025

Alger Small Cap Focus Fund

   Y    October 31      0.85   February 28, 2023 – February 28, 2025

Alger Health Sciences Fund

   Z    October 31      0.75   February 28, 2023 – February 28, 2025

Alger Weatherbie Enduring Growth Fund

   A    October 31      1.15   February 28, 2023 – February 28, 2025

Alger Weatherbie Enduring Growth Fund

   C    October 31      1.85   February 28, 2023 – February 28, 2025

Alger Weatherbie Enduring Growth Fund

   I    October 31      1.10   February 28, 2023 – February 28, 2025

Alger Weatherbie Enduring Growth Fund

   Y    October 31      0.70   February 28, 2023 – February 28, 2025

Alger Weatherbie Enduring Growth Fund

   Z    October 31      0.75   February 28, 2023 – February 28, 2025

 

2