Alger Capital Appreciation Fund and Alger Spectra Fund Portfolio Manager and Head of Alger Capital Appreciation and Spectra Strategies Patrick Kelly gives his quarterly update on the Funds and his broader outlook for the markets.
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Click here for Patrick Kelly's Bio.
| Click here for more information on Alger Spectra. Click here for more information on Alger Capital Appreciation. |
Length: 21:04 | Help |
The views expressed are the views of Fred Alger Management, Inc. These views are subject to change at any time and they do not guarantee the future performance of the markets, any security or any funds managed by Fred Alger Management, Inc. These views should not be considered a recommendation to purchase or sell securities. Individual securities or industries/sectors mentioned, if any, should be considered in the context of an overall portfolio and therefore reference to them should not be construed as a recommendation or offer to purchase or sell securities. References to or implications regarding the performance of an individual security or group of securities are not intended as an indication of the characteristics or performance of any specific sector, industry, security, group of securities or a portfolio and are for illustrative purposes only. Investing in companies of all capitalizations involves the risk that smaller, newer issuers in which Alger invests may have limited product lines or financial resources or lack of management depth.
The percentile ranking source is Morningstar. Morningstar percentile rankings are based on total return percentile rank (excluding sales charge) within each Morningstar Category. Spectra Fund Class A’s ranking, a ranking developed by Fred Alger Management, Inc., based on total return, among all Large Cap Funds (Large Growth, Large Value, and Large Blend): 207 out of 4,318 funds for the 1-year period ended 6/30/15; 118 out of 3,324 funds for the 5-year period ended 6/30/15; 1 out of 2,348 funds for the10-year period ended 6/30/15. Alger Capital Appreciation Portfolio Class I-2’s ranking, a ranking developed by Fred Alger Management, Inc., based on total return, among all Large Cap Funds: 154 out 4,318 funds for the 1-year period ended 6/30/15; 117 out of 3,324 funds for the 5-year period ended 6/30/15; 3 out of 2,348 funds for the 10-year period ended 6/30/15. Morningstar percentile rankings are based on total return percentile rank (excluding sales charge) within each Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100. If sales charges were included, performance would be lower and the rank may be lower.
As of 6/30/2015, the following represents the Alger Spectra Fund's assets under management: Aetna, Inc. 0.51%; Allergan Plc 4.03%; Amazon.com, Inc. 2.02%; Anheuser-Busch 0.96%; Apple, Inc. 6.10%; Avago Technologies Ltd 1.06%; Bank of America, Corp. 0.50%; Blackstone Group 2.49%; Bristol Myers Squibb Co. 1.07%; Broadcom Corp. 0.93%; Cigna Corp. 1.75%; Citigroup, Inc. 0.95%; CVS Health Corp. 1.64%; Danaher Corp. 0.88%; Delphi Automotive Plc 1.30%; Facebook, Inc. 4.82%; Gilead Sciences, Inc. 1.86%; Google, Inc. 2.67%; HCA Holdings, Inc. 1.13%; HD Supply Holdings, Inc. 0.91%; Honeywell International, Inc. 1.64%; Humana, Inc. 1.00%; Linkedin Corp. 0.42%; Microsoft Corp. 0.06%; Netflix Com, Inc. 0.39%; Salesforce.Com, Inc. 1.31%; Tesla Motors, Inc. 0.17%; Thermo Fisher Scientific, Inc. 1.31%; Walgreen Boots Alliance, Inc. 0.96%.
As of 6/30/2015, the following represents the Alger Capital Appreciation Fund's assets under management: Aetna, Inc. 0.51%; Allergan Plc 4.05%; Amazon.com, Inc. 2.03%; Anheuser-Busch 0.96%; Apple, Inc. 6.14%; Avago Technologies Ltd 1.05%; Bank of America Corp. 0.57%; Blackstone Group 2.25%; Bristol Myers Squibb Co. 1.12%; Broadcom Corp. 0.89%; Cigna Corp. 1.66%; Citigroup, Inc. 1.00%; CVS Health Corp. 1.74%; Danaher Corp. 0.89%; Delphi Automotive Plc 1.31%; Facebook, Inc. 4.82%; Gilead Sciences, Inc. 1.89%; Google, Inc. 2.70%; HCA Holdings, Inc. 1.20%; HD Supply Holdings, Inc. 0.81%; Honeywell International, Inc. 1.66%; Humana, Inc. 1.00%; Linkedin Corp. 0.43%; Microsoft Corp. 0.89%; Netflix Com, Inc. 0.40%; Salesforce.Com, Inc. 1.31%; Tesla Motors, Inc. 0.17%; Thermo Fisher Scientific, Inc. 1.33%; Walgreen Boots Alliance, Inc. 0.98%.
As of 6/30/2015, the portfolios held no assets under management for the following companies: Actavis, PLC; Anthem, Inc.; Forest Laboratories, Inc.
Investing in the stock market involves gains and losses and may not be suitable for all investors. Growth stocks tend to be more volatile than other stocks as the 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. Investing in companies of all capitalizations involves the risk that smaller, newer issuers in which the Fund invests may have limited product lines or financial resources or lack of management depth. The use of derivatives involves risks different from, and possibly greater than, the risks of investing directly in the underlying assets. A small investment in derivatives could have a large impact on the performance of the Fund. Derivative instruments involve counterparty risks, liquidity risks, and risks that the derivative does not correlate with the underlying instruments. The cost of borrowing money to leverage could exceed the returns for 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. Strategic Insight includes mutual funds and ETFs but excludes exchange traded products, closed-end funds, VA funds and fund-of-funds.
The Alger Spectra Fund may engage in selling stocks short. In order to engage in a short sale, Spectra arranges with a broker to borrow the security being sold short. In order to close out its short position, Spectra will replace the security by purchasing the security at the price prevailing at the time of replacement. Spectra will incur a loss if the price of the security sold short has increased since the time of the short sale and may experience a gain if the price has decreased since the short sale. The use of short sales could increase the Fund’s exposure to the market, magnifying losses and increasing volatility.
Investors should consider a Fund's investment objectives, risks, and charges and expenses carefully before investing. For a prospectus containing this and other information about an Alger fund, click on www.alger.com. Read the prospectus carefully before investing.
Distributor: Fred Alger & Company, Incorporated.
Member: NYSE Euronext/SIPC.
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