How do I contact you?
Funds
Alger Family of Funds
P.O. Box 2175
Milwaukee, WI 53201-2175
1-800-992-3863
Separately Managed
360 Park Avenue South
New York, NY 10010
1-800-223-3810
Back to TopHow do I invest?
Invest online now. The Alger Funds give you the ability to invest directly online. After you have read the prospectus, click here to go to the Account Access Page, choose "Establish New Account" and follow the simple instructions. If you have your personal information ready the entire process will likely take just a few minutes.
When completing the application you will need to know the type of account you would like to establish (e.g. individual account, joint account, etc.), and have your social security number, date of birth and residential address available. In addition, have a copy of a check from your bank account that will be used to fund your Alger account handy.
Alternatively, you can download the prospectus and application and apply through the mail by completing a New Account Application and return it with a check payable to "The Alger Funds". Please note we do not accept cash or cash alternatives (e.g. money orders or traveler's checks) for share purchases.
Download the prospectus
Download New Account Application (non-IRA only)
Download IRA New Account Application
Back to TopHow do I view my account on the Alger Funds website?
You can view your account balance, transaction history, account statement and tax forms from our website,
www.alger.com . All you need is your User ID and password. To activate your account for the first time, click Individual Investors, then select Personal Account Access under the Account Login heading. Click on Establish User ID for an existing account on the next screen and follow the simple instructions provided.
Back to TopWhat is the required minimum investment to open an account?
There is a $1,000 minimum investment per Fund for classes A and C for regular
accounts, and a $500 minimum investment for qualified retirement accounts, such
as IRAs. If you are establishing an Automatic Investment Plan of at least $50,
the minimum initial investment is $500. The minimum subsequent investment into
all funds is $50.
How do I buy additional shares?
Via online access, by check, Fed Wire, Automatic Investment Plan, Payroll
Savings Plan/Government Direct Deposit or TelePurchase Option (not available for
retirement plans).
For online transactions, click here
for Personal Account Access, then enter your User ID and
password to access your account. Go to Account Options for the fund you wish to
purchase additional shares and select "Purchase."
Fed Wire
Instructions - Incoming:
UMB Bank n.a. Kansas City, MO
ABA: 101000695
DDA: 9872325141
Alger Family of Funds
Regular Mail
Alger Family of Funds
P.O. Box 2175
Milwaukee, WI 53201-2175
Overnight Mail
Alger Family of Funds
C/O UMB Fund Services
235 W. Galenda St.
Milwaukee, WI 53212
How do I change my address?
You can change your address online, by phone or by mail. If online, Log in (User
ID and password) to access your account. Use the dropdown window next to
Portfolio Options and select either Change Address - All Accounts or Change
Address - Select Accounts. If by mail send a letter with Fund and Account
numbers signed by all registered owners. Once we receive notification from you,
we can update our records and prevent delays in the delivery of your statements.
We confirm every address change in writing for the security of your account.
Please note that any redemption requested within 30 days of an address change
requires a Medallion Signature Guaranteed letter of instruction.
Can I have money automatically drawn from my bank account and invested into my Alger Funds account?
Yes. The Alger Funds offers the Automatic Investment Plan, an option which
allows you to have funds electronically transferred from your bank account to
your Alger Fund account on the day of the month that you select. The minimum
investment is $50 per Fund. You can either complete the Additional Services Form to add this option to your existing
Alger Fund account or Log in to add this to your existing account
online.
How do I change my Automatic Investment Plan?
You can change the amount of your Automatic Investment Plan (AIP) online, by
phone or by mail. You can change the bank information for your Automatic
Investment Plan by mail. Send a completed copy of our Additional Services Form
with your name, account number and a voided copy of a check from your new bank
account. Please indicate the day of the month the AIP should take place.
Do the Alger Funds accept Direct Payroll Deposit?
Yes. The Alger Payroll Savings Plan allows you to deposit directly to your
existing Alger Funds account from your paycheck. To sign up for The Alger
Payroll Savings Plan, complete The Alger Payroll Savings Plan Form and submit to:
Alger Family of Funds
P.O. Box 2175
Milwaukee, WI 53201-2175
What is the "TelePurchase Option"?
This free option allows you to request purchases into your existing Alger Funds
account via electronic funds transfer from your bank account. The minimum amount
is $500 and the maximum amount is $50,000 per transaction. Transaction requests
can be made by phone. Your purchase will take place on the business day of your
request. To add this option to your account, send us a completed Additional
Services Form.
What is the "TeleRedemption Option"?
This free option allows you to request redemptions from your existing Alger
Funds account via electronic funds transfer to your bank account. The minimum
amount is $500 and the maximum amount is $50,000 per transaction. Transaction
requests can be made by phone. You should receive a credit to your bank account
within two to three banking days from your request. To add this option to your
account, send us a completed Additional Services Form.
Do the Alger Funds offer systematic withdrawal?
Yes, the Systematic Withdrawal Plan allows you to receive regular monthly,
quarterly or annual payments. Your account value must be at least $10,000, and
the payments must be for $50 or more. The maximum monthly withdrawal is 1% of
the current account value in the Fund at the time you begin participation in the
Plan. To add this option to your account, send us a completed Additional
Services Form.
When are distributions paid?
Distributions for the Alger Growth & Income Fund are declared and paid
quarterly. Distributions for other Alger Funds are declared and paid annually,
typically in December.
How are dividends and capital gains distributions paid?
Unless you choose to receive cash payments by checking the appropriate box on
your New Account Application, any dividends or distributions will be reinvested
automatically at the NAV on the payment dates. Distributions are paid by check
to the address of record, electronically transferred to your bank account via
the Automated Clearing House (ACH) or reinvested in additional shares. We also
offer The Cross Reinvestment Program to purchase shares of any other Alger
Fund.
How do I change my dividend option?
Contact us by phone to change the dividend option if you wish to stop or start
reinvesting for additional shares. Send us a completed Additional Services Form
to request dividends and/or capital gains be electronically transferred via ACH.
You may also access your account and change your distribution option online.
How do I sell my shares?
Selling your shares online:
Log in to access your account
and follow the online instructions to redeem shares in your account. Proceeds
can generally be mailed to the address of record, sent via ACH to your bank
account or sent via fed wire to your bank account. Please note there is a fee to
redeem shares via fed wire.
Selling your shares by
phone:
You may request redemption of your shares by phone if:
- you have authorized telephone redemption privileges
- your
mailing address has not changed in the last 30 days
- your shares were
purchased more than 15 days before the redemption request
- your shares are
not in certificate form
To request redemptions by phone, call The Alger Funds and speak to one of our
representatives. Redemption requests for funds received prior to the close of
business of the New York Stock Exchange ("NYSE"), which is normally 4:00 p.m.
ET, will be processed at that day's closing price. Requests that are received
after the market closes will automatically be processed with the next business
day's closing price.
Selling your shares by mail:
To request redemptions by
mail, send a letter of instruction to The Alger Funds. The business day we
receive your letter will be your redemption date and the check is typically
mailed the next business day. Shares must be purchased more than 15 days prior
to the redemption request. The letter must be signed by all authorized signers.
Your letter must include:
- your account number
- your name
- the
name of the fund/class of shares
- the number of shares or the dollar amount
you wish to redeem
- share certificates if your shares are held in
certificate form
We require your letter to be Medallion Signature Guaranteed if any of
the following apply:
- your redemption is for more than $25,000
or
- you want the check sent to a different address than the one we have on
file or
- you want the proceeds wired to a different bank than the one we
have on file or
- you want the check or wire made payable to someone other
than the registered owners we have on file or
- your mailing address has
changed in the last 30 days
Certain redemption requests may be subject to deferred sales charges or
redemption fees. Please check the Fund's prospectus for more information.
Do the Alger Funds charge a redemption fee?
You may incur a 2.00% redemption fee if you redeem shares of the Fund within 30
days of having acquired them. Shareholders claiming waivers of the redemption
fee must assert their status at the time of redemption.
How long does it take to process my redemption request?
Your redemption request typically will be processed on the day we receive
your request in good order. Orders received before the NYSE market close
(typically 4 p.m. ET) will confirm at that day's closing price. Orders received
after the NYSE market close will confirm at the next business day's closing
price.
Redemption checks will typically be mailed to the address of record the
business day following the redemption. If you provided bank information at the
time you opened your account, redemption proceeds in the amount of $5,000 or
more may be wired to your bank, at your request. For amounts of $500 or more,
your redemption proceeds may be sent via Electronic Funds Transfer to your bank
of record. To add or change bank information to your account records, please
send us a Medallion Signature Guaranteed, Additional Services Form.
How can I rush the delivery of my redemption proceeds?
When redeeming by phone:
You may request to have your
redemption of $5,000 or more wired to your "bank of record."
You may request
Federal Express (overnight delivery) of your redemption check to your address of
record. A fee will be charged to your account.
When redeeming by mail:
You may request to have your
redemption of $5,000 or more wired to your bank account. Please indicate the
name of the bank, the routing number, the account number and have your written
request Medallion Signature Guaranteed.
You may request Federal Express (overnight delivery) of your redemption check
to your address of record. A fee will be charged to your account.
Are there any fees to redeem shares via Fed Wire?
Yes, if you request that your redemption proceeds be wired to your bank account,
there is generally a $10 fee per wire sent to a bank account that you had
previously designated on the Fund's records, and generally a $15 fee per wire
sent to a bank account not previously designated on the Fund's records.
What is a Medallion Signature Guarantee and where do I get one?
A Medallion Signature Guarantee is a guarantee by a financial institution that
your signature is authentic. The financial institution accepts liability for any
forgery or fraud if the signature they guaranteed proves to be counterfeit. It
is an ideal means to protect investors and their assets. Medallion Signature
Guarantees in proper form generally will be accepted from domestic banks,
brokers, dealers, credit unions, and national securities exchanges, which are
participants in the New York Stock Exchange Medallion Signature Program (MSP),
the Securities Transfer Agents Medallion Program (STAMP), and the Stock
Exchanges Medallion Program (SEMP). Notarization by a Notary Public is not an
acceptable guarantee.
Are my dividend and capital gain distributions taxable?
With the exception of distributions paid to an Alger sponsored retirement plan
account, or other qualified plan, distributions are generally taxable to the
investor in the year they are paid, regardless of whether the distributions are
paid in cash or reinvested to purchase additional shares.
Will I receive a 1099 if my total distributions are under $10?
Net short-term capital gains and net investment income are reported on Form
1099-DIV as ordinary income. Net long term capital gains are reported on Form
1099-DIV as capital gain distributions regardless of how long you have held your
shares.
How will distributions be reported on my 1099-DIV?
Net short-term capital gains and net investment income are reported on Form
1099-DIV as ordinary income. Net long term capital gains are reported on Form
1099-DIV as capital gain distributions regardless of how long you have held your
shares.
What type of tax reporting can I expect from Alger?
Tax Form | | Who receives it | | When is it mailed |
|---|
Form 1099-DIV reports gross dividends, capital gain
distributions, federal income tax withheld and foreign taxes paid (if any). This
information must be reported to the IRS on your federal income tax return,
whether they were paid in cash or reinvested in additional fund shares.
| | Shareholders with accounts in any fund with annual distributions
of $10 or more, except Alger sponsored retirement plan accounts. | | 1099-DIV tax forms are mailed by February 15th. |
Form 1099-B reports redemptions (including redemptions by
exchange) in any fund except Alger-sponsored retirement plan accounts. It may
also report cost basis information on shares sold.
| | Shareholders with accounts in any fund except Alger sponsored
retirement plan accounts. | | 1099-B tax forms are
mailed by February 15th. |
Form 1099-R reports distributions from an IRA or other
Qualified Retirement Plan accounts, including any federal income tax withheld.
| | Shareholders who took a distribution from an Alger sponsored
retirement plan account. | | 1099-R tax forms are
mailed by January 31st. |
Form 1099-Q reports distributions from qualified
education programs including tuition plans and Coverdell Education Savings
Accounts (ESA).
| | Shareholders who took a distribution during the calendar year
from an Alger sponsored ESA. | | 1099-Q tax forms are
mailed by January 31st. |
Form 1042S reports income paid to, and federal income
tax withheld from, nonresident aliens and other foreign
entities.
| | Foreign persons with U.S. ordinary investment income. | | 1042S tax forms are
mailed by March 15th. |
Form 5498-ESA reports contributions and rollovers to
Alger sponsored ESAs.
| | Shareholders in Alger sponsored ESAs who made a contribution or
rollover for the prior calendar year. | | 5498-ESA tax forms are mailed by April 30th |
| Form 5498 reports retirement account contributions and
the fair market value of all Alger sponsored retirement accounts. (Because IRA
contributions are allowed through April 15th of the following year, Form 5498 is
not mailed until May.) | | All shareholders in Alger sponsored retirement plan accounts that
made a contribution or rollover for the prior calendar year. | | 5498 tax forms are
mailed by May 31st.
|
How do I exchange shares of one Alger Fund for shares of another Alger Fund?
You may exchange shares from one Alger Fund for shares of another Alger Fund by
contacting us online, by phone or by mail.
Can I receive Account Statements via E-mail?
Yes. Quarterly statements can be sent via E-mail or by U.S. mail. New accounts
can select the statement method directly on the New Account Application. For
existing accounts, please send in the Additional Services Form with the section
for E-Statement completed. You may also select Electronic Delivery by accessing
your account online and following the instructions.
