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Alger Mid Cap Focus Fund
ALOAX (Mutual Fund)
Alger Mid Cap Focus Fund
Name
As of 10/04/2024Price
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
Vitals
YTD Return
20.4%
1 yr return
36.8%
3 Yr Avg Return
-5.9%
5 Yr Avg Return
N/A
Net Assets
$308 M
Holdings in Top 10
33.4%
52 WEEK LOW AND HIGH
$16.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.14%
SALES FEES
Front Load 5.25%
Deferred Load N/A
TRADING FEES
Turnover 250.31%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 10/04/2024Price
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
ALOAX - Profile
Distributions
- YTD Total Return 20.4%
- 3 Yr Annualized Total Return -5.9%
- 5 Yr Annualized Total Return N/A
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.72%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAlger Mid Cap Focus Fund
-
Fund Family NameAlger Family of Funds
-
Inception DateJul 29, 2021
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerAmy Zhang
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.Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of mid-cap companies. For these purposes, “mid-cap companies” are those companies that, at the time of purchase of the securities, have total market capitalization within the range of (i) companies included in the Russell MidCap Growth Index, as reported by the index at the most recent quarter end, or (ii) $1 billion to $30 billion. At December 31, 2023, the companies in this index 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.In addition, under normal market conditions, the Fund invests at least 25% of its total assets in companies in the following group of industries: Health Care Equipment & Supplies, Health Care Technology, Biotechnology, Life Sciences Tools & Services, and/or Software, as defined by third party sources. The Fund may have 25% or more of its total assets invested in any one of these industries.As a focus fund, the Fund intends to invest a substantial portion of its assets in a smaller number of issuers. Generally the Fund will own approximately 50 holdings. Fund holdings may occasionally differ from this number for a variety of reasons, including, among others, because of extreme market volatility, such as when the Fund has entered a temporary defensive position. Additionally, the Fund may temporarily exceed the stated number of holdings when it acquires a new holding and determines that it is in the best interests of shareholders to sell an existing holding over a period of time, instead of immediately selling the entire holding.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 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 can invest in foreign 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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ALOAX - Performance
Return Ranking - Trailing
| Period | ALOAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 20.4% | -11.7% | 67.5% | 8.95% |
| 1 Yr | 36.8% | 10.6% | 62.4% | 11.05% |
| 3 Yr | -5.9%* | -25.0% | 58.8% | 86.85% |
| 5 Yr | N/A* | -2.9% | 102.8% | N/A |
| 10 Yr | N/A* | 2.7% | 25.4% | N/A |
* Annualized
Return Ranking - Calendar
| Period | ALOAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 16.6% | -27.7% | 68.0% | 60.99% |
| 2022 | -37.4% | -85.6% | 52.8% | 83.85% |
| 2021 | N/A | -74.9% | 238.3% | N/A |
| 2020 | N/A | -44.1% | 2474.5% | N/A |
| 2019 | N/A | -50.2% | 44.0% | N/A |
Total Return Ranking - Trailing
| Period | ALOAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 20.4% | -11.7% | 67.5% | 8.95% |
| 1 Yr | 36.8% | 10.6% | 62.4% | 11.05% |
| 3 Yr | -5.9%* | -25.0% | 58.8% | 86.85% |
| 5 Yr | N/A* | -2.9% | 102.8% | N/A |
| 10 Yr | N/A* | 2.7% | 25.4% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | ALOAX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 16.6% | -26.1% | 68.0% | 76.10% |
| 2022 | -37.4% | -67.0% | 56.8% | 91.73% |
| 2021 | N/A | -23.5% | 342.2% | N/A |
| 2020 | N/A | 2.6% | 2549.1% | N/A |
| 2019 | N/A | 14.6% | 44.8% | N/A |
NAV & Total Return History
ALOAX - Holdings
Concentration Analysis
| ALOAX | Category Low | Category High | ALOAX % Rank | |
|---|---|---|---|---|
| Net Assets | 308 M | 2.73 M | 100 B | 75.43% |
| Number of Holdings | 51 | 24 | 3590 | 81.71% |
| Net Assets in Top 10 | 84.1 M | 670 K | 11.3 B | 74.67% |
| Weighting of Top 10 | 33.36% | 4.5% | 98.2% | 28.76% |
Top 10 Holdings
- HEICO Corp 4.39%
- Vertiv Holdings Co 3.99%
- Tyler Technologies Inc 3.55%
- Axon Enterprise Inc 3.51%
- Dreyfus Treasury Obligations Cash Management Fund 3.49%
- Natera Inc 3.16%
- Spotify Technology SA 3.15%
- Constellation Energy Corp 3.03%
- Constellation Software Inc/Canada 2.54%
- Deckers Outdoor Corp 2.54%
Asset Allocation
| Weighting | Return Low | Return High | ALOAX % Rank | |
|---|---|---|---|---|
| Stocks | 97.52% | 58.72% | 103.99% | 67.62% |
| Cash | 3.49% | 0.00% | 41.99% | 21.52% |
| Preferred Stocks | 0.00% | 0.00% | 5.73% | 96.38% |
| Other | 0.00% | -0.04% | 14.45% | 93.33% |
| Convertible Bonds | 0.00% | 0.00% | 0.40% | 96.38% |
| Bonds | 0.00% | 0.00% | 2.35% | 96.38% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ALOAX % Rank | |
|---|---|---|---|---|
| Technology | 41.43% | 0.04% | 62.17% | 7.05% |
| Industrials | 19.47% | 0.00% | 38.23% | 14.10% |
| Consumer Cyclical | 12.82% | 0.00% | 57.41% | 64.00% |
| Healthcare | 12.57% | 0.00% | 37.06% | 84.19% |
| Basic Materials | 5.71% | 0.00% | 17.25% | 10.48% |
| Energy | 4.52% | 0.00% | 62.10% | 17.52% |
| Financial Services | 3.49% | 0.00% | 43.01% | 87.43% |
| Utilities | 0.00% | 0.00% | 12.94% | 97.14% |
| Real Estate | 0.00% | 0.00% | 19.28% | 98.67% |
| Communication Services | 0.00% | 0.00% | 18.33% | 99.62% |
| Consumer Defense | 0.00% | 0.00% | 16.40% | 98.67% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ALOAX % Rank | |
|---|---|---|---|---|
| US | 94.98% | 46.79% | 103.99% | 79.43% |
| Non US | 2.54% | 0.00% | 34.12% | 17.71% |
ALOAX - Expenses
Operational Fees
| ALOAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.14% | 0.02% | 17.54% | 42.86% |
| Management Fee | 0.65% | 0.00% | 1.50% | 39.31% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 63.92% |
| Administrative Fee | 0.03% | 0.00% | 0.40% | 11.43% |
Sales Fees
| ALOAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.25% | 3.00% | 5.75% | 84.13% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| ALOAX 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.
| ALOAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 250.31% | 0.00% | 250.31% | 99.79% |
ALOAX - Distributions
Dividend Yield Analysis
| ALOAX | Category Low | Category High | ALOAX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 33.43% | 97.14% |
Dividend Distribution Analysis
| ALOAX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| ALOAX | Category Low | Category High | ALOAX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.72% | -2.24% | 2.75% | 61.32% |
Capital Gain Distribution Analysis
| ALOAX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
ALOAX - Fund Manager Analysis
Managers
Amy Zhang
Start Date
Tenure
Tenure Rank
Jun 14, 2019
2.96
3.0%
Amy Zhang, CFA is Executive Vice President and Portfolio Manager of the Alger Small Cap Focus, Alger Mid Cap Focus, Alger Mid Cap 40 and Alger Small Cap Growth Strategies. She joined Alger in 2015 and has 26 years of investment experience. Additionally, Amy is a member of The Alger Partners Plan. During her tenure at Alger, she has been featured and quoted in a number of publications such as: The Wall Street Journal, Barron’s, The New York Times, Citywire, Investor’s Business Daily, Bloomberg, Business Insider, Investment News, MarketWatch, China Business Network, Xinhua, Forbes, CNBC, and CNN. Prior to joining Alger, Amy worked at Brown Capital Management as a Partner, Managing Director, and Senior Portfolio Manager of its Brown Capital Small Company Strategy, including the Brown Capital Small Company Fund. Her previous experience includes working as a Portfolio Manager/Analyst at Epsilon Investment Management, Research Analyst at Templeton Worldwide, and Associate at Citicorp Securities. She is a former President of the CFA Society Baltimore and is currently chair of their Advisory Board. She served as a member on the Board of Directors, as well as Vice President and Programs Chair for the CFA Society of Stamford. Amy is a board member of the Mulan Club. Amy is also a member of the Board of Trustees of Manhattanville College, where she founded the AYZ STEM scholarship. Amy earned her B.A. from Manhattanville College, where she graduated summa cum laude. She earned her M.B.A. from Columbia Business School, where she was inducted into the Beta Gamma Sigma honor society and named to the Dean’s List. Amy is a CFA charterholder and a member of the CFA Institute.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 36.3 | 9.4 | 11.76 |
