Fund Description

The fund was incepted in May 2002 and is managed by Fred Alger Management. The objective of this fund is to seek long-term capital appreciation by investing primarily in small and mid-size companies that offer promising growth potential. These are companies with a market capitalization between $500 million and $10 billion. The fund invests in equity securities, such as common or preferred stocks. There is a possibility of greater risk by investing in companies with small or mid-sized market capitalizations rather than larger, more established issuers owing to such factors as more limited product lines or financial resources or lack of management depth. The fund offers dividends and capital gains annually.