Investor's Business Daily

This article reprint, originally published by Investor’s Business Daily onApril 10, 2017, is considered sales literature for the Alger funds mentioned only and not for any other products shown. Please note that Investor’s Business Daily is an independent publication and the IBD performance ratings reflected in the article do not represent the experience of any individual investor.

For the period ending March 31, 2017, the Alger Spectra Fund (SPECX) returned the following:

Average Annual Total Returns (%) (as of 3/31/17) YTD

1 Year

3 Years

5 Years

10 Years

Since Inception

Class A (Incepted 7/28/69) Without Sales Charge

11.04 5.23 8.63

15.17

9.98 8.03

12.92 11.70 13.22

10.55 9.95 9.04

15.73 15.59

With Sales Charge

9.11

Russell Growth 3000 Index

16.27

10.90

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On 9/24/08,the Fund’s name was changed fromSpectra Fund toAlger Spectra Fund,and the Fund’s Class N shares were redesignated as ClassAshares.The Fund operated as a closed end fund from 8/23/78 to 2/12/96. The calculation of total return during that time assumes dividends were reinvested at market value. Had dividends not been reinvested, per- formance would have been lower. Performance of the Fund’s Class C Shares prior to 9/24/08 reflects the performance of the Fund’s Class A Shares, as adjusted with currently applicable sales charges and operating expenses, which differ from historical charges and expenses. Only periods greater than 12 months are annualized. The first full calendar year which Fred Alger Management, Inc. managed the Spectra Class A portfolio was 1975. Risk Disclosures: Investing in the stock market involves gains and losses and may not be suitable for all investors. Investment 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. Growth stocks tend to be more volatile than other stocks. Their prices tend to be higher in relation to earnings and may be more sensitive to market, political, and economic developments. Investing in companies of all capitalizations involves the risk that smaller, newer issuers may have limited product lines or financial resources, or lack of management depth. Companies of small and medium size capitalizations are subject to greater risk than stocks of larger, more established companies owing to such factors as limited liquidity, inexperienced management, and limited financial resources. Foreign investing involves special risks including currency risk and risks related to political, social, or economic conditions. The strategy can leverage, that is, borrow money to buy additional securities. By borrowing money, the strategy has the potential to increase its returns if the increase in the value of the securities purchased exceeds the cost of borrowing, including interest paid on the money borrowed. Short selling (or “selling short”) is a technique used by investors who try to profit from the falling price of a stock. It is the act of borrowing a security from a broker and selling it, with the understanding that it must later be bought back and returned to the broker. In order to engage in a short sale, the strategy arranges with a broker to borrow the security being sold short. In order to close out its short position, the strategy will replace the security by purchasing the security at the price prevailing at the time of replacement. The strategy will incur a loss if the price of the security sold short has increased since the time of the short sale and may experience a gain if the price has decreased since the short sale. There are additional risks when investing in an active investment strategy, such as increased short-term trading, additional transaction costs and potentially increased taxes that a shareholder may pay, which can lower the actual return on an investment. Frank Russell Company (“Russell”) is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Frank Russell Company. Neither Russell nor its licensors accept any liability for any errors or omissions in the Russell Indexes and / or Russell ratings or underlying data and no party may rely on any Russell Indexes and / or Russell ratings and / or underlying data contained in this communication No further distribution of Russell Data is permitted without Russell’s express written consent. Russell does not promote, sponsor or endorse the content of this communication. Russell 3000® Growth is an unmanaged index of common stocks designed to measure the performance of the 3000 largest U.S. companies based on the total market capitaliza- tion, which represents 99% of the U.S. equity market. The S&P 500 Index is an unmanaged index generally representative of the U.S. stock market without regard to company size. Investors cannot invest directly in any index. Index performance does not reflect deductions for fees, expenses or taxes. Note that comparing the performance to a different index might have materially different results than those shown. Any views and opinions expressed herein are not meant to provide investment advice and there is no guarantee that they will come to pass. As of 3/31/17, the securities mentioned in this reprint represented the following as a percentage of Alger Spectra Fund assets: Apple 6.65%; Amazon 6.11%; Facebook 4.87%; Visa 3.82%; Broadcom 2.24%; Adobe 1.12%; Alibaba 1.05%; Morgan Stanley 0.62%; Netflix 0.53%; Cavium 0.42%; S&P Global 0.30%; United Rentals 0.23%. Before investing, carefully consider the Fund’s investment objective, risks, charges, and expenses. For a prospectus and summary prospectus containing this and other information or for the Fund’s most recent month-end perfor- mance data, visit www.alger.com, call (800) 992-3863 or consult your financial advisor. Read the prospectus and sum- mary prospectus carefully before investing. Distributor: Fred Alger & Company, Incorporated. Member NYSE Euronext, SIPC. NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE. A: 1.31% The performance data quoted represents past performance, which is not an indication or a guarantee of future results. Investment 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 data current to the most recent month-end, visit us at www.alger.com or call (800) 992-3863. Performance figures assume all distributions are reinvested. Returns after the maximum sales charge reflect a front-end sales charge on Class A Shares of 5.25%. TotalAnnual Operating Expenses by Class (Prospectus Dated 2/28/17)

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Fred Alger & Company, Incorporated 360 Park Avenue South, New York, NY 10010 / 800.992.3863 / www.alger.com

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