FundsAlger Family of FundsP.O. Box 2175Milwaukee, WI 53201-21751-800-992-3863
Funds Overnight MailAlger Family of FundsC/O UMB Fund Services235 W. Galena St.Milwaukee, WI 53212
Separately Managed100 Pearl StreetNew York, NY 10004212-806-8800
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, select "Individual investors" 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.), have your social security number, date of birth, residential address, and a copy of a check from your bank account that will be used to fund your Alger account on hand.
Alternatively, you can download the prospectus and application and apply through the mail by completing a New Account Application and returning 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 or cashier checks) for share purchases.
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 “Log In” on the top right side of the page, select “Individual Investors” and click on the “Register Now” button.
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 monthly or quarterly, the minimum initial investment is $500. The minimum subsequent investment into all Funds is $50.
Additional shares may be purchased via online access, by check, wire, Automatic Investment Plan, or Phone.
To purchase shares online, click
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." Payment for online share purchases can only be made by electronic funds transfer via Automatic Clearing House (ACH) from your bank instructions on record. If you have not previously established bank instructions on your account, you can login to your account online or complete an
Account Privilege Change Form with Medallion Signature Guarantee Stamp.
To purchase by wire, please arrange the wire with your bank with the following wire instructions:
UMB Bank n.a. Kansas City, MO
Credit to: Alger Family of Funds
For Further Credit to: Your Name, Alger Funds Account Number, Fund Name,
To purchase by check, please mail a check payable to Alger Family of Funds and provide your Account Number and Fund Name to:
Regular MailAlger Family of Funds
P.O. Box 2175
Milwaukee, WI 53201-2175
Overnight Mail Alger Family of Funds
C/O UMB Fund Services
235 W. Galena St.
Milwaukee, WI 53212
You can change your address online, by phone or by mail. If online, log in (User ID and password) to access your account. 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.
Yes. The Alger Funds offers the Automatic Investment Plan, an option which allows you to have funds electronically transferred via ACH from your bank account to your Alger Fund account monthly or quarterly. The minimum investment amount is $50. You can either complete the Account Privileges Change Form to add this option to your existing Alger Fund account or log in to add this to your existing account online.
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 online or by mail by sending a completed copy of our Account Privileges Change Form with your name, account number and a voided copy of a check from your new bank account and a Medallion Signature Guarantee Stamp.
No. The Alger Funds do not allow you to deposit directly to your existing Alger Funds account from your paycheck.
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 Account Privileges Form.
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.
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 may be 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.
Contact us by phone to change the dividend option if you wish to stop or start reinvesting for additional shares. Send us a completed Account Privileges Change 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.
Selling your shares online:
If you have online redemption privileges, you can sell your Fund shares online. Log in to your account online and follow the instructions to redeem shares in your account. Proceeds can be mailed by check to the address of record, sent by electronic funds transfer via ACH to your bank account on record with no additional fee or by wire to your bank account on record with an additional wire fee.
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 and
- 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 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 checks are 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 and the class of shares
- the number of shares or the dollar amount you wish to redeem
- Payment method – check to address on record, ACH to bank on record or wire to bank on record
- share certificates if your shares are held in certificate form
- signatures of all registered owners
We require your letter to be Medallion Signature Guaranteed if any of the following apply:
- your redemption is for more than $50,000 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. Please check the Fund's prospectus for more information.
No, the Alger Funds do not charge a redemption fee. Certain redemption requests may be subject to deferred sales charges. Please check the Fund’s prospectus for more information.
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 be confirmed at that day's closing price. Orders received after the NYSE market close will be confirmed at the next business day's closing price.
Redemption proceeds will typically be sent by check to the address of record, or by electronic funds transfer via ACH to your bank of record, or by wire to the bank of record on the business day following the redemption date. Please note there is an additional wire fee if proceeds are sent by wire. To add or change bank information to your account, please log in to your account or send us a Medallion Signature Guaranteed Account Privileges Change Form.
When redeeming by phone:If you have the telephone redemption option on your account, you may request redemption of your Fund shares by phone in a minimum amount of $500 up to $50,000. You may request to have your redemption proceeds wired to the bank account on record. You may also request overnight delivery of your redemption check to your address of record. A wire fee or an overnight fee will be charged to your account. Please contact us for more information.
When redeeming by mail:You may request to have your redemption proceeds wired to your bank account on record. You may also request overnight delivery of your redemption check to your address of record. A wire fee or an overnight fee will be charged to your account. Please contact us for more information.
If you currently do not have bank instructions listed on your account, please provide a written request with the name of the bank, the routing number, the account number, and account owner’s name. A Medallion Signature Guarantee Stamp is required for all bank account owner(s) signatures included in the written request.
Yes, if you request that your redemption proceeds be wired to your bank account, there is generally a $20 fee per wire.
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.
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.
No, a 1099-DIV will not be issued if your total distribution amount is less than $10 per Fund for the year.
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.
You may exchange shares from one Alger Fund for shares of another Alger Fund by
contacting us online, by phone or by mail.
You can opt to receive electronic delivery of a notice of availability of your quarterly statements by logging into your account on-line, selecting “I Want To” from the menu on the top right of the screen, and clicking on “Delivery Preferences” under “Edit My Contact”.
Applications and forms can be found on our website at www.Alger.com or by calling our shareholder services telephone number toll free at 1 800 992 3863.