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Trending ETFs

Alger Mid Cap Growth Institutional Fund

mutual fund
ALMZX
Payout Change
Suspended
Price as of:
$23.41 +0.18 +0.77%
primary theme
U.S. Mid-Cap Growth Equity
ALMZX (Mutual Fund)

Alger Mid Cap Growth Institutional Fund

Payout Change
Suspended
Price as of:
$23.41 +0.18 +0.77%
primary theme
U.S. Mid-Cap Growth Equity
ALMZX (Mutual Fund)

Alger Mid Cap Growth Institutional Fund

Payout Change
Suspended
Price as of:
$23.41 +0.18 +0.77%
primary theme
U.S. Mid-Cap Growth Equity

Name

As of 05/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$23.41

$67.6 M

0.00%

1.12%

Vitals

YTD Return

11.1%

1 yr return

23.3%

3 Yr Avg Return

-3.2%

5 Yr Avg Return

10.7%

Net Assets

$67.6 M

Holdings in Top 10

27.2%

52 WEEK LOW AND HIGH

$23.2
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.12%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 171.43%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$500,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/24/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$23.41

$67.6 M

0.00%

1.12%

ALMZX - Profile

Distributions

  • YTD Total Return 11.1%
  • 3 Yr Annualized Total Return -3.2%
  • 5 Yr Annualized Total Return 10.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.68%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Alger Mid Cap Growth Institutional Fund
  • Fund Family Name
    Alger Family of Funds
  • Inception Date
    Oct 14, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Daniel Chung

Fund Description

The Manager believes companies undergoing Positive Dynamic Change offer the best opportunities. Positive Dynamic Change refers to companies realizing High Unit Volume Growth or companies undergoing Positive Lifecycle Change. High Unit Volume Growth companies are traditional growth companies experiencing, for example, rapidly growing demand or market dominance. Positive Lifecycle Change companies are, for example, companies benefitting from new regulations, a new product innovation or new management.The Fund focuses on mid-sized companies that the Manager believes demonstrate promising growth potential. Under normal circumstances, the Fund invests at least 80% of its net assets in equity securities of companies that, at the time of purchase of the securities, have total market capitalization within the range of companies included in the Russell Midcap Growth Index or the S&P MidCap 400 Index, as reported by the indexes as of the most recent quarter-end. Both indexes are designed to track the performance of medium-capitalization stocks. At December 31, 2023, the market capitalization of the companies in these indexes ranged from $978 million to $73.3 billion. Because of the Fund’s long-term approach to investing, it could have a significant portion of its assets invested in securities of issuers that have appreciated beyond the market capitalization thresholds noted. Equity securities include common or preferred stocks that are listed on U.S. or foreign exchanges.The Fund may invest a significant portion of its assets in securities of companies conducting business within a single sector, as defined by third party sources, including the information technology, industrials, consumer discretionary, and health care sectors.The Fund may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. As a result, the Fund may engage in active trading of portfolio securities.The Fund invests in cash (and cash equivalents) when the Fund is unable to find enough attractive long-term investments to meet its investment objective, to meet redemptions and/or when the Manager believes it is advisable to do so during times of short-term market volatility. During these times, cash (and cash equivalents) will not exceed 15% of the Fund’s net assets.
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ALMZX - Performance

Return Ranking - Trailing

Period ALMZX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% -15.6% 30.2% 19.70%
1 Yr 23.3% 2.7% 58.0% 32.13%
3 Yr -3.2%* -26.5% 58.4% 80.27%
5 Yr 10.7%* -2.1% 100.5% 45.09%
10 Yr N/A* 0.1% 25.2% 48.88%

* Annualized

Return Ranking - Calendar

Period ALMZX Return Category Return Low Category Return High Rank in Category (%)
2023 23.2% -27.7% 68.0% 24.57%
2022 -35.0% -85.6% 52.8% 73.19%
2021 -40.8% -74.9% 238.3% 96.09%
2020 46.6% -44.1% 2474.5% 13.56%
2019 19.9% -50.2% 44.0% 76.62%

Total Return Ranking - Trailing

Period ALMZX Return Category Return Low Category Return High Rank in Category (%)
YTD 11.1% -15.6% 30.2% 19.70%
1 Yr 23.3% 2.7% 58.0% 32.13%
3 Yr -3.2%* -26.5% 58.4% 80.27%
5 Yr 10.7%* -2.1% 100.5% 45.09%
10 Yr N/A* 0.1% 25.2% 47.26%

* Annualized

Total Return Ranking - Calendar

Period ALMZX Return Category Return Low Category Return High Rank in Category (%)
2023 23.2% -26.1% 68.0% 31.19%
2022 -35.0% -67.0% 56.8% 86.12%
2021 4.7% -23.5% 342.2% 85.91%
2020 64.6% 2.6% 2549.1% 7.09%
2019 30.2% 14.6% 44.8% 78.50%

NAV & Total Return History


ALMZX - Holdings

Concentration Analysis

ALMZX Category Low Category High ALMZX % Rank
Net Assets 67.6 M 2.73 M 100 B 92.47%
Number of Holdings 68 25 3644 63.65%
Net Assets in Top 10 16.9 M 449 K 9.69 B 94.16%
Weighting of Top 10 27.21% 4.2% 98.2% 43.69%

Top 10 Holdings

  1. Constellation Software Inc/Canada 3.10%
  2. Vertiv Holdings Co 2.91%
  3. FirstService Corp 2.89%
  4. Natera Inc 2.82%
  5. GFL Environmental Inc 2.79%
  6. HEICO Corp 2.70%
  7. Cadence Design Systems Inc 2.55%
  8. Repligen Corp 2.52%
  9. Diamondback Energy Inc 2.47%
  10. Marvell Technology Inc 2.46%

Asset Allocation

Weighting Return Low Return High ALMZX % Rank
Stocks
100.00% 58.72% 101.30% 4.90%
Preferred Stocks
0.00% 0.00% 5.46% 55.18%
Other
0.00% -0.18% 16.96% 63.47%
Convertible Bonds
0.00% 0.00% 0.40% 48.21%
Cash
0.00% 0.00% 38.96% 96.99%
Bonds
0.00% -3.09% 3.50% 51.41%

Stock Sector Breakdown

Weighting Return Low Return High ALMZX % Rank
Technology
35.52% 0.04% 62.17% 23.73%
Consumer Cyclical
16.71% 0.00% 57.41% 25.61%
Healthcare
15.22% 0.00% 37.06% 73.45%
Industrials
13.54% 0.00% 38.23% 59.89%
Energy
7.98% 0.00% 62.10% 6.21%
Financial Services
4.03% 0.00% 43.01% 78.15%
Communication Services
2.73% 0.00% 18.33% 55.37%
Basic Materials
2.16% 0.00% 17.25% 50.47%
Real Estate
1.07% 0.00% 19.28% 70.62%
Utilities
1.04% 0.00% 12.94% 17.14%
Consumer Defense
0.00% 0.00% 16.40% 91.71%

Stock Geographic Breakdown

Weighting Return Low Return High ALMZX % Rank
US
94.02% 46.79% 101.30% 83.05%
Non US
5.98% 0.00% 34.57% 8.66%

ALMZX - Expenses

Operational Fees

ALMZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.12% 0.02% 17.54% 46.33%
Management Fee 0.76% 0.00% 1.50% 65.28%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.03% 0.00% 0.40% 9.71%

Sales Fees

ALMZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

ALMZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ALMZX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 171.43% 0.00% 250.31% 96.87%

ALMZX - Distributions

Dividend Yield Analysis

ALMZX Category Low Category High ALMZX % Rank
Dividend Yield 0.00% 0.00% 33.43% 57.63%

Dividend Distribution Analysis

ALMZX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

ALMZX Category Low Category High ALMZX % Rank
Net Income Ratio -0.68% -2.24% 2.75% 58.13%

Capital Gain Distribution Analysis

ALMZX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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ALMZX - Fund Manager Analysis

Managers

Daniel Chung


Start Date

Tenure

Tenure Rank

Jan 23, 2018

4.35

4.4%

Dan Chung, CFA is Chief Executive Officer, Chief Investment Officer and Portfolio Manager of several Alger strategies. Dan joined Alger in 1994 and has 27 years of investment experience. He was named Chief Investment Officer in September 2001, President in 2003, and CEO in 2006. Dan is also a member of The Alger Partners Plan. Throughout his tenure at Alger, he has made numerous TV appearances on Bloomberg, CNBC, and Fox Business. Dan has also been featured and quoted frequently in Barron’s, Citywire, Forbes, Investment News, Pensions & Investments, and USA Today. Prior to joining Alger, Dan was an associate at Simpson Thacher & Bartlett LLP in New York City in 1989 while he earned an LL.M. from New York University. He earned his J.D. magna cum laude from Harvard Law School in 1987, where he was an editor of the Harvard Law Review. After graduating, he served as law clerk for the Honorable Justice Anthony M. Kennedy, United States Supreme Court. Dan graduated from Stanford University with B.A. and B.S. degrees, with Distinction and Phi Beta Kappa, in 1984. Dan is also a CFA charterholder and a member of the CFA Institute. Dan currently serves as a board trustee and former chairman of The Nature Conservancy in the State of New York and is a Global Campaign Committee Member of The Nature Conservancy. He is also actively involved with the Stanford in New York Internship Program, and frequently contributes to and supports various charitable organizations including the Harlem Education Activities Fund (HEAF) and Target Margin Theater.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 36.3 9.39 11.76