THE ALGER FUNDS	THE ALGER FUNDS II
Alger Capital Appreciation Fund	Alger Spectra Fund
Alger International Focus Fund	Alger Responsible Investing Fund
Alger Mid Cap Growth Fund	Alger Dynamic Opportunities Fund
Alger Mid Cap Focus Fund	Alger Emerging Markets Fund
Alger Weatherbie Specialized Growth Fund
Alger Small Cap Growth Fund	THE ALGER PORTFOLIOS
Alger Small Cap Focus Fund	Alger Capital Appreciation Portfolio
Alger Health Sciences Fund	Alger Large Cap Growth Portfolio
Alger Growth & Income Fund	Alger Mid Cap Growth Portfolio
Alger 35 Fund	Alger Weatherbie Specialized Growth Portfolio
	Alger Small Cap Growth Portfolio
THE ALGER INSTITUTIONAL FUNDS	Alger Growth & Income Portfolio
Alger Capital Appreciation Institutional Fund	Alger Balanced Portfolio
Alger Focus Equity Fund
Alger Mid Cap Growth Institutional Fund	THE ALGER ETF TRUST
Alger Small Cap Growth Institutional Fund	Alger 35 ETF
	Alger Mid Cap 40 ETF
ALGER GLOBAL FOCUS FUND	Alger Weatherbie Enduring Growth ETF

(each, a “Fund” and collectively, the “Funds”)

Supplement dated July 10, 2023 to the

Summary Prospectuses, Prospectuses and Statement of Additional Information (“SAI”)

of each Fund

On May 23, 2023, the Board of Trustees of each Fund approved the transition of each Fund’s custodian, administrator and, with respect to The Alger ETF Trust, transfer agent to The Bank of New York Mellon (“BNY Mellon”), located at 240 Greenwich Street, New York, New York 10286. This change is currently expected to become effective in early 2024.

Shareholders should retain this Supplement for future reference.

S-Global Focus-Retail 71023 S-Global Focus-Instl. 71023 S-AGFFSAI 71023 S-TAF Retail 71023 S-TAF-Instl. 71023 S-TAFSAI 71023 S-TAFII-Retail 71023 S-TAFII-INST 71023 S-TAFIISAI 71023 S-TAIF-Retail 71023 S-TAIF-Instl. 71023 S-(ISAI) 71023 S-APPI-2 71023 S-APPS 71023 S-APPSAI 71023 S-ETF 71023 S-ETFSAI 71023 S-GlobalFocus 71023 S-GblFocusIns 71023 S-GblFocusZ 71023 S-35FundZ 71023 S-CapApp 71023 S-CapAppZ 71023 S-GthInc 71023 S-GthIncZ 71023 S-HealthAC 71023 S-HealthZ 71023 S-IntFocusABC 71023 S-IntFocusIns 71023 S-IntFocus 71023 S-DynOppZ 71023 S-35ETF 71023 S-MCETF 71023 S-EGETF 71023 S-MCFAC 71023 S-Mid Focus I 71023 S-MCFY 71023 S-Mid Focus Z 71023 S-Mid CapABC 71023 S-Mid CapZ 71023 S-SmallFocusAC 71023 S-Small Focus I 71023 S-SmallFocusY 71023 S-SmallFocusZ 71023 S-SmallCap ABC 71023 S-SmallCapY 71023 S-SmallCapZ 71023 S-WSG AC 71023 S-WSG I 71023 S-WSG Y 71023 S-WSG Z 71023 S-Emerg Mkt AC 71023 S-Emerg Mkt Ins 71023 S-Emerg Mkt Z 71023 S-DynOpp 71023 S-RespAC 71023 S-RespI 71023 S-RespZ 71023 S-Spectra 71023 S-SpectraIns 71023 S-SpectraY 71023 S-SpectraZ 71023 S-CapAppIR 71023 S-CapAppY 71023 S-CapAppInsZ-2 71023 S-FocusEquityAC 71023 S-FocusEquityI 71023 S-FocusEquityY 71023 S-FocusEquityZ 71023 S-MidCapIR 71023 S-MidCapInsZ-2 71023 S-SmallCapIns 71023 S-SmallCapInsZ-2 71023 S-BalancedI-2 71023 S-CapAppI-2 71023 S-CapAppS 71023 S-GrIncI-2 71023 S-LargeCapI-2 71023 S-LargeCapS 71023 S-MidCapI-2 71023 S-MidCapS 71023 S-SmallCapI-2 71023 S-WSGI-2 71023