The performance data quoted represents past performance, which is not an indication or a guarantee of future results. Invest ment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For performance current to the most recent month-end, visit www.alger.com or call (800) 992-3863.

Growth stocks can be more volatile than other stocks; their prices can be higher in relation to earnings and may be more sensitive to market, political, and economic developments. Stocks of small- and midsized companies have greater risk than stocks of larger companies because of limited liquidity, inexperienced management, or limited financial resources.

Investing in the stock market involves gains and losses and may not be suitable for all investors. 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.

Before investing, carefully consider the fund’s investment objective, risks, charges and expenses. For a prospectus containing this and other information about the fund, call (800) 992-3863, visit www.alger.com, or consult your financial advisor. Read it carefully before investing. Distributor: Fred Alger & Company, Incorporated. Member NYSE, SIPC. NOT FDIC INSURED.

NOT BANK GUARANTEED. MAY LOSE VALUE.