Alger Fund Added to HFRX Global Hedge Fund Index

CONTACTS: Prosek Georgia Brown +44 7784305812 gbrown@prosek.com

FOR IMMEDIATE RELEASE

Alger Fund Added to HFRX Global Hedge Fund Index

LONDON, July 23 rd , 2020 – Alger Management, Ltd. (together with its affiliates, “Alger”) is happy to announce that the Alger SICAV – Alger Dynamic Opportunities Fund (“Fund”) has been selected as a constituent in the HFRX Global Hedge Fund Index. The Alger Dynamic Opportunities Fund is a long/short hedged equity fund that invests primarily in U.S.- domiciled companies. It aims to provide investors with long term capital appreciation, downside protection, and lower volatility. Investors in the Fund have access to two premier growth equity managers—Fred Alger Management, LLC and Weatherbie Capital, LLC—that have a combined 25+ years of hedged equity experience. The portfolio management team is led by Alger CEO and Chief Investment Officer Dan Chung, CFA. The HFRX Global Hedge Fund Index is an asset-weighted investable benchmark designed to represent the overall composition of the hedge fund universe. The HFRX indices are industry leading benchmarks comprising actual hedge and alternative funds delivering the performance of the investment class to institutions since 2003. The HFRX indices are constructed by Hedge Fund Research, Inc. (“HFR”), which uses a UCITSIII and IOSCO compliant methodology to construct its indices. “We are pleased that HFR has added the Alger Dynamic Opportunities Fund to its Global Hedge Fund Investable Index. We believe it is a testament to our experience in managing long/short strategies, the Fund’s strong performance and attractive risk scores, and our unique approach to long and short investing across the market cap spectrum,” said Alger Executive Vice President and Chief Distribution Officer Jim Tambone. Alger has provided asset management capabilities in the United Kingdom and Europe for over two decades and opened its London-based office in 2014. The firm currently manages $1.7 billion in assets for our international clients. “HFR is pleased and excited to welcome Alger as a constituent of the HFRX Indices, the leading global benchmark of hedge fund performance. Alger’s rigorous investment process, dynamic performance and impressive institutional background are an ideal fit for inclusion in the preferred benchmark for leading global investors and managers,” said Ken Heinz, president of Hedge Fund Research, Inc.

Alger SICAV, a Luxembourg UCITS vehicle, makes the fund available to non-U.S. investors in U.S. dollar, euro, and Great British Pounds-denominated classes.

About Alger Founded in 1964, Alger is widely recognized as a pioneer of growth-style investment management. Headquartered in New York City with affiliate offices in Boston and London, Alger provides U.S. and non-U.S. institutional investors and financial advisors access to a suite of growth equity separate accounts, mutual funds, and privately offered investment vehicles. The firm’s investment philosophy, discovering companies undergoing Positive Dynamic Change, has been in place for over 50 years. Weatherbie Capital, LLC, a Boston-based investment adviser specializing in small and mid-cap growth equity investing is a wholly-owned subsidiary of Alger. For more information, please visit www.alger.com. Important Disclosures: The views expressed are the views of Fred Alger Management, LLC (“FAM”) and its affiliates as of July 2020. These views are subject to change at any time and may not represent the views of all portfolio management teams. These views should not be interpreted as a guarantee of the future performance of the markets, any security or any funds managed by FAM. These views are not meant to provide investment advice and should not be considered a recommendation to purchase or sell securities. This document is directed at investment professionals and qualified investors (as defined by MiFID/FCA regulations). It is for information purposes only and has been prepared and is made available for the benefit of the investors. This document does not constitute an offer or solicitation to any person in any jurisdiction in which it is not authorised or permitted, or to anyone who would be an unlawful recipient, and is only intended for use by original recipients and addressees. The original recipient is solely responsible for any actions in further distributing this document and should be satisfied in doing so that there is no breach of local legislation or regulation. This document is not for distribution in the United States. Data, models and other statistics are sourced from our own records, unless otherwise stated herein. We caution that the value of investments and the income derived, may fluctuate and it is possible that an investor may incur losses, including a loss of the principal invested. Investors should ensure that they fully understand the risks associated with investing and should consider their own investment objectives and risk tolerance levels. Do not take unnecessary risk. Past performance is not indicative of future performance. Investors whose reference currency differs from that in which the underlying assets are invested may be subject to exchange rate movements that alter the value of their investments. Certain products may be subject to restrictions with regard to certain persons or in certain countries under national regulations applicable to such persons or countries. NOTABLY, THIS MATERIAL IS EXCLUSIVELY INTENDED FOR PERSONS WHO ARE NOT U.S. PERSONS, AS SUCH TERM IS DEFINED IN REGULATIONS OF THE U.S. SECURITIES ACT OF 1933, AS AMENDED AND WHO ARE NOT PHYSICALLY PRESENT IN THE UNITED STATES. No shares in the Alger SICAV or its sub-funds may be offered or sold to U.S. persons or in jurisdictions where such offering or sale is prohibited. The Alger SICAV is authorized by the Luxembourg Supervisory Authority as a UCITS and has only been authorized for public distribution in certain jurisdictions. See the country specific disclosures below for information regarding the Funds registration and the availability of the prospectus containing all necessary information about the product, the costs and the risks which may occur. Risk Disclosures: Each Fund is exposed to several types of risks. Please read the Fund’s Key Investor Information Document ("KIID") and the prospectus for more information. Investing in the stock market involves risks, including the potential loss of principal. Growth stocks may be more volatile than other stocks as their prices tend to be higher in relation to their companies’ earnings and may be more sensitive to market, political, and economic developments. A significant portion of assets will be invested in technology companies, which may be significantly affected by competition, innovation, regulation, and product obsolescence, and may be more volatile than the securities of other companies. Cash positions may underperform relative to equity and fixed-income securities. Options and short exposure, gained through Total Return Swaps (TRS), could increase market exposure, magnifying losses and increasing volatility. Issuers of convertible securities may be more sensitive to economic changes. Investing in companies of small capitalizations involve the risk that such issuers may have limited product lines or financial resources, lack management depth, or have limited liquidity. Leverage increases volatility in both up and down markets and its costs may exceed the returns of borrowed securities. Foreign securities involve special risks including currency fluctuations, inefficient trading, political and economic instability, and increased volatility. Active trading may increase transaction costs, brokerage commissions, and taxes, which can lower the return on investment.

Important Information for All Investors: Alger Management, Ltd. (company house number 8634056, domiciled at 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. FAM and/or Weatherbie Capital, LLC, U.S. registered investment advisors, serve as sub-portfolio manager to financial products distributed by Alger Management, Ltd.

Alger Group Holdings, LLC (parent company of FAM), is not an authorized person for the purposes of the Financial Services and Markets Act 2000 of the United Kingdom (“FSMA”) and this material has not been approved by an authorized person for the purposes of Section 21(2)(b) of the FSMA.

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