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In this podcast, Alger Portfolio Manager Deborah A. Vélez Medenica, CFA, explains factors that have driven recent results and why emerging markets have potential for producing additional gains in the foreseeable future.               

Key Points
  • The recent strong performance of emerging markets has been driven by attractive valuations and strong earnings growth. 

  • In addition to a favorable outlook for earnings, improving conditions in Brazil and Russia may potentially support the performance of emerging markets.

  • Innovation in emerging markets is allowing leading companies to offer low cost mobile phones and other services to the rapidly growing middle class.

  • The Chinese financial sector appears to have strengthened, so Chinese banks have been added to the portfolio.

CLICK HERE for more information on the Alger Emerging Markets Strategy.

CLICK HERE for more information on the Alger SICAV Emerging Markets Strategy.


Fred Alger & Company, Incorporated is the parent company of Fred Alger Management, Inc. The views expressed are the views of Fred Alger Management, Inc. These views are subject to change at any time and should not be interpreted as a guarantee of the future performance of the markets, any security or any strategies 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. 

Risk Disclosure:  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 price of growth stocks tends 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 issuers in which the Fund invests may have limited product lines or financial resources, or lack management depth. Special risks associated with investments in emerging country issuers 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. Foreign currencies are subject to risks caused by inflation, interest rates, budget deficits and low savings rates, political factors and government controls. Some of the countries where the Fund can invest may have restrictions that could limit the access to investment opportunities. The securities of issuers located in emerging markets can be more volatile and less liquid than those of issuers in more mature economies. Investing in emerging markets involves higher levels of risk, including increased currency, information, liquidity, market, political and valuation risks, and may not be suitable for all investors.

The Morgan Stanley Capital International (MSCI) Emerging Markets Index is a free float adjusted market capitalization index that is designed to measure equity market performance in the global emerging markets. Investors cannot invest directly in any index. Index performance does not reflect the deduction for fees, expenses, or taxes.. 

For U.S. Mutual Fund Investors: Before investing, carefully consider the Fund's investment objective, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information about the Fund, call (800) 992-3863, visit www.alger.com, or consult your financial advisor. Read the prospectus carefully before investing. For a complete list of Fund portfolio holdings please visit www.alger.com. Distributor: Fred Alger & Company, Incorporated, Member NYSE Euronext, SIPC. NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE.

For Non-U.S. Investors: This information is furnished to you by Fred Alger Management, Inc. ("Fred Alger Management"). Alger Management, Ltd. serves as investment manager to the Alger SICAV - The Alger American Asset Growth Fund and Fred Alger Management serves as sub manager. Information related to the Alger SICAV is authorized for distribution only when accompanied or preceded by a current prospectus of the Alger SICAV, which contains more information about risks, charges and expenses. Please read the prospectus carefully before investing or sending money. Sales of shares in the Alger SICAV, the subject of this information, are made on the basis of the prospectus only and this information does not constitute an offer of shares in the Alger SICAV. An investment in the Alger SICAV entails risk, which are described in the prospectus. Investors may not get back the full amount invested and the net asset value of the Alger SICAV Fund will fluctuate with market conditions. Exchange rate fluctuations and Alger SICAV charges also affect the return to the investor. The holdings are subject to change. There is no assurance that the Alger SICAV objectives will be attained.

No shares in this Alger SICAV may be offered or sold to U.S. persons or in jurisdictions where such offering or sale is prohibited. U.S. persons include citizens or residents of the United States of America. For a proper definition of U.S. Person see the Alger SICAV prospectus. Investment in the Alger SICAV may not be suitable for all investors. Investors with any doubts with regard to suitability should contact their independent investment advisers. Nothing in this information should be construed as advice. Shares of the Alger SICAV are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.

Important information for UK investors: The Alger SICAV does not have a place of business in the United Kingdom and is not authorized under the Financial Services Act 1986 (the "Act"). As a consequence, the regulatory regime governing an investor's rights with respect to the Alger SICAV (and its similarly unauthorized overseas agents) will be different than that of the United Kingdom. Investors will not, for example, be entitled to compensation under the United Kingdom's Investors Compensation Scheme. The Alger SICAV is an unregulated collective investment scheme under the laws of the United Kingdom and, therefore, can be promoted in the United Kingdom only to persons in accordance with the Act and the Financial Services (promotion of Unregulated Schemes) Regulations 1991 (the "Regulations"). Accordingly, this information may not be distributed in the United Kingdom other than to persons authorized to carry on investment business under the Act, persons whose ordinary business involves the acquisition and disposal of property of the same kind as the property or a substantial part of the property in which the Alger SICAV invests and persons permitted to receive this information under the Regulations. In addition, this information may not be issued or passed on in the United Kingdom to any person, other than to persons to whom the information may otherwise lawfully be issued, unless that person is of a kind described in Article 11(3) of the Financial Services Act of 1986 (Investment Advertisements) (Exemptions) Order 1996 (as amended).

Alger Management, Ltd. (company house number 8634056, domiciled 78 Brook Street, London W1K 5EF, UK) is authorised and regulated by the Financial Conduct Authority for the distribution of regulated financial products and services. La Française AM International has a signed agreement with Alger Management Ltd, whereby La Française AM International is authorized to distribute Fred Alger Management Inc. products in Europe.