| Label |
Element |
Value |
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Risk/Return [Heading] |
rr_RiskReturnHeading |
Alger Dynamic Opportunities Fund |
|
| Objective [Heading] |
rr_ObjectiveHeading |
INVESTMENT OBJECTIVE |
|
| Objective, Primary [Text Block] |
rr_ObjectivePrimaryTextBlock |
Alger Dynamic Opportunities 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" beginning on page A-2 of the Fund's Prospectus and the sections "Right of Accumulation (Class A Shares)" and "Letter of Intent (Class A Shares)" on page 28 of the Fund's Statement of Additional Information. |
|
| Shareholder Fees Caption [Text] |
rr_ShareholderFeesCaption |
Shareholder Fees (fees paid directly from your investment) |
|
| Operating Expenses Caption [Text] |
rr_OperatingExpensesCaption |
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) |
|
| Fee Waiver or Reimbursement over Assets, Date of Termination |
rr_FeeWaiverOrReimbursementOverAssetsDateOfTermination |
2014-02-28 |
|
| 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 257.74% of the average value of its portfolio. |
|
| Portfolio Turnover, Rate |
rr_PortfolioTurnoverRate |
257.74% |
|
| Expense Example [Heading] |
rr_ExpenseExampleHeading |
EXAMPLE |
|
| Expense Example Narrative [Text Block] |
rr_ExpenseExampleNarrativeTextBlock |
The following examples are intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The examples assume that you invest $10,000 in the Fund for the time periods indicated, that your investment has a 5% return each year and that the Fund's operating expenses remain the same. |
|
| Expense Example by, Year, Caption [Text] |
rr_ExpenseExampleByYearCaption |
Although your actual costs may be higher or lower, based on these assumptions you would pay the following expenses if you redeemed your shares at the end of each period: |
|
| Expense Example, No Redemption, By Year, Caption [Text] |
rr_ExpenseExampleNoRedemptionByYearCaption |
You would pay the following expenses if you did not redeem your shares: |
|
| Strategy [Heading] |
rr_StrategyHeading |
PRINCIPAL INVESTMENT STRATEGY |
|
| Strategy Narrative [Text Block] |
rr_StrategyNarrativeTextBlock |
Fred Alger Management, Inc. believes companies undergoing Positive Dynamic Change offer the best investment opportunities. Positive Dynamic Change refers to companies realizing High Unit Volume Growth or companies undergoing Positive Lifecycle Change. High Unit Volume Growth companies are traditional growth companies experiencing, for example, significantly growing demand or market dominance. Positive Lifecycle Change companies are, for example, companies benefitting from regulatory change, a new product introduction or management change.
The Fund invests primarily in a portfolio of U.S. and foreign equity securities (common stocks, preferred stock and convertible securities). In addition to purchasing securities (i.e., taking long positions), the Fund's investment adviser, Fred Alger Management, Inc. will identify securities that it believes will underperform on an absolute or relative basis and will sell these securities short on behalf of the Fund. The Fund will not, however, follow a market neutral strategy and generally will have a net long position. As a result, and as a result of the cash proceeds the Fund will receive from selling securities short, the Fund will maintain significant cash positions. The Fund may also seek to manage the volatility of either the portfolio, a particular exposure (e.g., sector or industry) of the portfolio or individual securities through short sales, options or other derivative instruments. The Fund will have no specific guidelines or restrictions governing the concentration of the Fund's portfolio in specific entities, sectors or market capitalizations.
Accordingly, the Fund may invest a portion of its assets in securities issued by small capitalization companies. The Fund may also invest a portion of its assets in equity securities not listed on an exchange.
The Fund can leverage, that is, borrow money to purchase additional securities. By borrowing money, the Fund has the potential to increase its returns if the increase in the value of the securities purchased exceeds the cost of borrowing, including interest paid on the money borrowed.
The Fund can also invest in derivative instruments. The Fund currently expects that its primary uses of derivatives will involve: (1) purchasing put and call options and selling (writing) covered put and call options, on securities and securities indexes, to increase gain, to hedge against the risk of unfavorable price movements in the underlying securities, or to provide diversification of risk, and (2) entering into forward currency contracts to hedge the Fund's foreign currency exposure when it holds, or proposes to hold, non-U.S. dollar denominated securities.
The Fund may sell securities short, which is the sale of a security the Fund does not own. The Fund arranges with a broker to borrow the security being sold short, and replaces the security by buying it at the current market price when it closes out the short sale. If the price of the security sold short has increased since the time of the short sale, the Fund will incur a loss in addition to the costs associated with establishing, maintaining and closing out the short position. If the price of the security sold short has decreased since the time of the short sale, the Fund will experience a gain to the extent the difference in price is greater than these costs. |
|
| Risk [Heading] |
rr_RiskHeading |
PRINCIPAL RISKS |
|
| Risk Narrative [Text Block] |
rr_RiskNarrativeTextBlock |
Risks of investing in the Fund include:
• the Fund, by holding a large cash position, may underperform relative to both equity and fixed-income securities.
• 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.
• the cost of borrowing money to leverage may exceed the returns for the securities purchased or the securities purchased may actually go down in value; thus, the Fund's net asset value could decrease more quickly than if it had not borrowed.
• it may be difficult or impossible to liquidate a security position at a time and price acceptable to the Fund owing to the potentially less frequent trading of certain stocks held by the Fund.
• the market price of a security may increase after the Fund borrows the security and sells it short, so that the Fund suffers a loss when it replaces the borrowed security at the higher price. The use of short sales could increase the Fund's exposure to the market, magnifying losses and increasing volatility.
• issuers of convertible securities may not be as strong financially as other companies, and may be more vulnerable to changes in the economy.
The Fund is a non-diversified investment company, which means that it is not required to maintain, as to 75% of its assets, no more than 5% of its assets in any single issuer. 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 diversified portfolio.
A small investment in derivatives could have a potentially large impact on the Fund's performance. When purchasing options, the Fund bears the risk that if the market value of the underlying security does not move to a level that would make exercise of the option profitable, the option will expire unexercised. When a call option written by the Fund is exercised, the Fund will not participate in any increase in the underlying security's value above the exercise price. When a put option written by the Fund is exercised, the Fund will be required to purchase the underlying security at a price in excess of its market value. Use of options on securities indexes is subject to the risk that trading in the options may be interrupted if trading in certain securities included in the index is interrupted, the risk that price movements in the Fund's portfolio securities may not correlate precisely with movements in the level of an index, and the risk that Fred Alger Management, Inc. may not predict correctly movements in the direction of a particular market or of the stock market generally. Because certain options may require settlement in cash, the Fund may be forced to liquidate portfolio securities to meet settlement obligations. Forward currency contracts are subject to currency exchange rate risks and the risk of non-performance by the contract counterparty.
The Fund's performance will be influenced by political, social and economic factors affecting investments in foreign companies. Special risks associated with investments in foreign companies include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and different auditing and legal standards.
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 the Fund may tend to be more volatile than some other investments you could make, such as bonds.
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. Based on the Fund's investment style and objective, 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.
An investment in the Fund is not a deposit of a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. |
|
| Risk Lose Money [Text] |
rr_RiskLoseMoney |
As with any fund that invests in stocks, your investment will fluctuate in value, and the loss of your investment is a risk of investing. |
|
| Risk Nondiversified Status [Text] |
rr_RiskNondiversifiedStatus |
The Fund is a non-diversified investment company, which means that it is not required to maintain, as to 75% of its assets, no more than 5% of its assets in any single issuer. 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 diversified portfolio. |
|
| 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. Prior to October 31, 2012, the Fund compared its performance to the Blended S&P 500/3-Month London Interbank Offered Rate. The Fund will compare its performance to the S&P 500 Index to facilitate performance comparison to its peers. Class C Shares were not offered prior to December 29, 2010. Historical performance prior to December 29, 2010 is that of the Fund's Class A Shares, as adjusted with currently applicable sales charges (in the table) and the higher Class C 12b-1 Fees. Performance in the bar chart does not reflect the effect of the sales charge imposed on purchases of Class A Shares of the Fund. If the bar chart reflected the applicable sales charges, returns would be less than those shown. Remember that a Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. Updated performance information is available on the Fund's website www.alger.com.
|
|
| Performance Information Illustrates Variability of Returns [Text] |
rr_PerformanceInformationIllustratesVariabilityOfReturns |
The following bar chart and the table beneath it provide some indication of the risks of investing in the Fund by showing changes in the Fund's performance from year to year and by showing how the Fund's average annual returns for the indicated periods compare with those of an appropriate benchmark of market performance. |
|
| Performance Availability Website Address [Text] |
rr_PerformanceAvailabilityWebSiteAddress |
www.alger.com |
|
| Performance Past Does Not Indicate Future [Text] |
rr_PerformancePastDoesNotIndicateFuture |
Remember that a Fund's past performance (before and after taxes) is not necessarily an indication of how it will perform in the future. |
|
| Bar Chart [Heading] |
rr_BarChartHeading |
ANNUAL TOTAL RETURN FOR CLASS A SHARES as of December 31 (%) |
|
| Bar Chart Does Not Reflect Sales Loads [Text] |
rr_BarChartDoesNotReflectSalesLoads |
Performance in the bar chart does not reflect the effect of the sales charge imposed on purchases of Class A Shares of the Fund. If the bar chart reflected the applicable sales charges, returns would be less than those shown. |
|
| Bar Chart Closing [Text Block] |
rr_BarChartClosingTextBlock |
Best Quarter:
Q1 2012 7.87%
Worst Quarter:
Q3 2011 -12.35% |
|
| Highest Quarterly Return, Label |
rr_HighestQuarterlyReturnLabel |
Best Quarter: |
|
| Highest Quarterly Return, Date |
rr_BarChartHighestQuarterlyReturnDate |
Mar. 31,
2012 |
|
| Highest Quarterly Return |
rr_BarChartHighestQuarterlyReturn |
7.87% |
|
| Lowest Quarterly Return, Label |
rr_LowestQuarterlyReturnLabel |
Worst Quarter: |
|
| Lowest Quarterly Return, Date |
rr_BarChartLowestQuarterlyReturnDate |
Sep. 30,
2011 |
|
| Lowest Quarterly Return |
rr_BarChartLowestQuarterlyReturn |
(12.35%) |
|
| Performance Table Market Index Changed |
rr_PerformanceTableMarketIndexChanged |
Prior to October 31, 2012, the Fund compared its performance to the Blended S&P 500/3-Month London Interbank Offered Rate. The Fund will compare its performance to the S&P 500 Index to facilitate performance comparison to its peers. |
|
| Index No Deduction for Fees, Expenses, Taxes [Text] |
rr_IndexNoDeductionForFeesExpensesTaxes |
(reflects no deduction for fees, expenses or taxes) |
|
| Performance Table Uses Highest Federal Rate |
rr_PerformanceTableUsesHighestFederalRate |
In the foregoing table, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. |
|
| Performance Table Not Relevant to Tax Deferred |
rr_PerformanceTableNotRelevantToTaxDeferred |
The after-tax returns shown may not be relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. |
|
| Performance Table One Class of after Tax Shown [Text] |
rr_PerformanceTableOneClassOfAfterTaxShown |
After-tax returns for Class C Shares, which are not shown, will vary from those shown for Class A Shares. |
|
| Performance Table Explanation after Tax Higher |
rr_PerformanceTableExplanationAfterTaxHigher |
A "return after taxes on distributions and sale of fund shares" may sometimes be higher than the other two return figures; this happens where there is a capital loss on redemptions, giving rise to a tax benefit to the shareholder. |
|
| Performance Table Closing [Text Block] |
rr_PerformanceTableClosingTextBlock |
In the foregoing table, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. The after-tax returns shown may not be relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns for Class C Shares, which are not shown, will vary from those shown for Class A Shares. A "return after taxes on distributions and sale of fund shares" may sometimes be higher than the other two return figures; this happens where there is a capital loss on redemptions, giving rise to a tax benefit to the shareholder. |
|
| Caption |
rr_AverageAnnualReturnCaption |
AVERAGE ANNUAL TOTAL RETURN AS OF DECEMBER 31, 2012 |
|
|
S&P 500 Index
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
16.00% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
12.79% |
[1] |
| Average Annual Returns, Inception Date |
rr_AverageAnnualReturnInceptionDate |
Nov.
02,
2009 |
|
|
Blended Index - 50% S&P 500/50% 3-Month London Interbank Offered Rate (reflects no deduction for fees, expenses or taxes)
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
8.14% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
6.71% |
[1] |
| Average Annual Returns, Inception Date |
rr_AverageAnnualReturnInceptionDate |
Nov.
02,
2009 |
|
|
Alger Dynamic Opportunities Fund Class A
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Maximum sales charge (load) imposed on purchases as a % of offering price |
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice |
5.25% |
|
| Maximum deferred sales charge (load) as a % of purchase price or redemption proceeds, whichever is lower |
rr_MaximumDeferredSalesChargeOverOther |
1.00% |
[2] |
| Redemption Fee (as a percentage of Amount Redeemed) |
rr_RedemptionFeeOverRedemption |
(2.00%) |
|
| Management Fees |
rr_ManagementFeesOverAssets |
1.20% |
[3] |
| Distribution and/or Service (12b-1) Fees |
rr_DistributionAndService12b1FeesOverAssets |
0.25% |
|
| Dividends on Short Sales and Interest Expense |
rr_Component1OtherExpensesOverAssets |
0.62% |
|
| Other Expenses |
rr_OtherExpensesOverAssets |
0.91% |
|
| Total Annual Fund Operating Expenses |
rr_ExpensesOverAssets |
2.98% |
|
| Fee Waiver or Reimbursement |
rr_FeeWaiverOrReimbursementOverAssets |
(0.36%) |
[4] |
| Total Annual Fund Operating Expenses After Expense Reimbursement |
rr_NetExpensesOverAssets |
2.62% |
|
| Expenses Deferred Charges [Text Block] |
rr_ExpensesDeferredChargesTextBlock |
Purchases of $1 million of Class A Shares at net asset value may be subject to a contingent deferred sales charge of 1.00% on redemptions made within 12 months of purchase. |
|
| 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 |
776 |
|
| Expense Example, with Redemption, 3 Years |
rr_ExpenseExampleYear03 |
1,366 |
|
| Expense Example, with Redemption, 5 Years |
rr_ExpenseExampleYear05 |
1,980 |
|
| Expense Example, with Redemption, 10 Years |
rr_ExpenseExampleYear10 |
3,627 |
|
| Expense Example, No Redemption, 1 Year |
rr_ExpenseExampleNoRedemptionYear01 |
776 |
|
| Expense Example, No Redemption, 3 Years |
rr_ExpenseExampleNoRedemptionYear03 |
1,366 |
|
| Expense Example, No Redemption, 5 Years |
rr_ExpenseExampleNoRedemptionYear05 |
1,980 |
|
| Expense Example, No Redemption, 10 Years |
rr_ExpenseExampleNoRedemptionYear10 |
3,627 |
|
| Annual Return 2010 |
rr_AnnualReturn2010 |
6.82% |
|
| Annual Return 2011 |
rr_AnnualReturn2011 |
(4.80%) |
|
| Annual Return 2012 |
rr_AnnualReturn2012 |
9.43% |
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
3.68% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
2.56% |
[1] |
| Average Annual Returns, Inception Date |
rr_AverageAnnualReturnInceptionDate |
Nov.
02,
2009 |
|
|
Alger Dynamic Opportunities Fund Class A | After Taxes on Distributions
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
3.68% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
2.39% |
[1] |
|
Alger Dynamic Opportunities Fund Class A | After Taxes on Distributions and Sale of Fund Shares
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
2.39% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
2.08% |
[1] |
|
Alger Dynamic Opportunities Fund Class C
|
|
|
|
| Risk/Return: |
rr_RiskReturnAbstract |
|
|
| Maximum sales charge (load) imposed on purchases as a % of offering price |
rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice |
none
|
|
| Maximum deferred sales charge (load) as a % of purchase price or redemption proceeds, whichever is lower |
rr_MaximumDeferredSalesChargeOverOther |
1.00% |
|
| Redemption Fee (as a percentage of Amount Redeemed) |
rr_RedemptionFeeOverRedemption |
(2.00%) |
|
| Management Fees |
rr_ManagementFeesOverAssets |
1.20% |
[3] |
| Distribution and/or Service (12b-1) Fees |
rr_DistributionAndService12b1FeesOverAssets |
1.00% |
|
| Dividends on Short Sales and Interest Expense |
rr_Component1OtherExpensesOverAssets |
0.63% |
|
| Other Expenses |
rr_OtherExpensesOverAssets |
1.17% |
|
| Total Annual Fund Operating Expenses |
rr_ExpensesOverAssets |
4.00% |
|
| Fee Waiver or Reimbursement |
rr_FeeWaiverOrReimbursementOverAssets |
(0.62%) |
[4] |
| Total Annual Fund Operating Expenses After Expense Reimbursement |
rr_NetExpensesOverAssets |
3.38% |
|
| Expense Example, with Redemption, 1 Year |
rr_ExpenseExampleYear01 |
441 |
|
| Expense Example, with Redemption, 3 Years |
rr_ExpenseExampleYear03 |
1,162 |
|
| Expense Example, with Redemption, 5 Years |
rr_ExpenseExampleYear05 |
1,999 |
|
| Expense Example, with Redemption, 10 Years |
rr_ExpenseExampleYear10 |
4,168 |
|
| Expense Example, No Redemption, 1 Year |
rr_ExpenseExampleNoRedemptionYear01 |
341 |
|
| Expense Example, No Redemption, 3 Years |
rr_ExpenseExampleNoRedemptionYear03 |
1,162 |
|
| Expense Example, No Redemption, 5 Years |
rr_ExpenseExampleNoRedemptionYear05 |
1,999 |
|
| Expense Example, No Redemption, 10 Years |
rr_ExpenseExampleNoRedemptionYear10 |
4,168 |
|
| Average Annual Returns, 1 Year |
rr_AverageAnnualReturnYear01 |
7.52% |
|
| Average Annual Returns, Since Inception |
rr_AverageAnnualReturnSinceInception |
3.50% |
[1] |
| Average Annual Returns, Inception Date |
rr_AverageAnnualReturnInceptionDate |
Dec. 29,
2010 |
|
|
|
|
