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"In international markets, volatility is here to stay. And what you're going to find out, I think, is that volatility is a rebirth of active investing."

The Alger Global Growth Strategy recently celebrated its third anniversary. Marking the occasion, Portfolio Managers Pedro Marcal and Deborah Vélez Medenica discuss recent market moves, their process in managing the strategy, and why they continue to have a very optimistic outlook for global investing.

Click here for Pedro Marcal's Bio.
Click here for Deborah Vélez Medenica's Bio.
For more information on the Alger Global Growth strategy, please click here.

The views expressed are the views of Fred Alger Management, Inc. These views are subject to change at any time and should not be interpreted as a guarantee of the future performance of the markets, any security or any funds managed by Fred Alger Management, Inc. These views should not be considered a recommendation to purchase or sell securities. Individual securities or industries/sectors mentioned, if any, should be considered in the context of an overall portfolio and therefore reference to them should not be construed as a recommendation or offer to purchase or sell securities.

Investing in the stock market involves gains and losses and may not be suitable for all investors. Growth stocks tend to be more volatile than other stocks as the price of growth stocks tends to be higher in relation to their companies´ earnings and may be more sensitive to market, political and economic developments. Special risks associated with investments in emerging country issuers include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability and different auditing and legal standards. Foreign currencies are subject to risks caused by inflation, interest rates, budget deficits and low savings rates, political factors and government controls. Some of the countries may have restrictions that could limit the access to investment opportunities. The securities of issuers located in emerging markets can be more volatile and less liquid than those of issuers in more mature economies. Investing in emerging markets involves higher levels of risk, including increased currency, information, liquidity, market, political and valuation risks, and may not be suitable for all investors.

Total Annual Fund Operating Expenses (Prospectus Dated 3/1/16) Class A: 2.03% Class C: 2.80% Class I: 2.02% Class Z: 2.20% With Waiver Class A: 1.50% Class C: 2.25% Class I: 1.25% Class Z: 1.09% Fred Alger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, and extraordinary expenses) through 2/28/2017 to the extent necessary to limit the total annual fund operating expenses of the Class A, C, I, and Z Shares of the Fund to 1.50%, 2.25%, 1.25%, and 1.09% respectively, of the class’ average daily net assets. This expense reimbursement cannot be terminated. Class I shares do not impose any sales charges. If this charge was reflected, annual returns for the Class I shares of the Fund would be lower.

The performance data quoted represents past performance of the Alger Global Growth Fund, A Shares, and 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. Performance figures assume all distributions are reinvested. Returns with a maximum sales charge reflect a front-end sales charge on Class A Shares of 5.25%. Class C Shares held less than one year are subject to a 1% contingent deferred sales charge (CDSC).  Prior to May 31, 2013, the Alger Global Growth Fund, as represented by the Class A shares, followed a different strategy under the name “Alger China-U.S. Growth Fund.” The performance shown for periods prior to May 31, 2013 reflects the performance of the prior strategy and not that of the current strategy.

The MSCI ACWI Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed and emerging markets.  Index performance does not reflect deduction for fees, expenses, or taxes.  Investors should not consider references to individual securities as an endorsement or recommendation to purchase or sell such security. Transactions in such securities may be made that seemingly contradict the references to them for a variety of reasons, including, but not limited to, liquidity to meet redemptions or overall portfolio rebalancing. Holdings are subject to change.

Class A Shares are subject to a maximum front-end sales charge of 5.25%. Purchases of $1 million or more of Class A Shares at net asset value may be subject to a contingent deferred sales charge of 1.00% on redemptions made within 12 months of purchase.

Rankings:
Morningstar percentile rankings are based on the total return percentile rank (excluding sales charge) within each Morningstar Category. The highest (or most favorable) percentile rank is 1 and the lowest (or least favorable) percentile rank is 100.  The Alger Global Growth Fund Class A ranking for the 3-year period ended 6/30/16 is 26 out of 940 funds; for the 5-year period is 87 out of 731 funds; and for the 10-year period is 25 out of 409 funds.  If sales charges were included, performance would be lower and the rank may be lower.  Morningstar Rating is not to be confused with Morningstar Ranking, which is a numeric ranking of the fund, and is a distinct designation. Source: Morningstar.   ©2015 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not war­ranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

Morningstar rankings may be based, in part, on the performance of a predecessor fund or share class and are calculated by Morningstar using a performance calculation methodology that differs from that used by Alger. Differences in the methodologies may lead to variances in calculating total performance returns, in some cases this variance may be significant, thereby potentially affecting the ranking of the Alger Fund(s). The rankings are displayed for informational purposes only and should not be relied upon when making investment decisions.

Before investing, carefully consider the Fund’s investment objective, risks, charges, and expenses. For a prospectus and a summary 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.

Founded in 1964, Fred Alger Management Inc. provides investment advisory services to institutional and individual investors through traditional and alternative strategies in a variety of products, including separate accounts, mutual funds and privately offered investment vehicles. For more information, please visit www.alger.com.