I N T E R N AT I O N A L G R O W T H ST R AT E G Y / F LY E R
UNCOVERING GROWTH
POTENTIAL OUTSIDE THE U.S.
A Global Approach to Equity Investing
Alger International Growth as Part of Your Portfolio
The proliferation of growth in economies, markets, and societies
has resulted in a world without defined borders. As companies
grow and trade expands, we believe it’s important to look for
growth through a global lens.
Proven Philosophy. We believe that companies undergoing
Positive Dynamic Change, which are companies experiencing
high unit volume growth or benefitting from positive life cycle
change, offer the greatest long-term growth potential for our
investors. The Alger International Growth Strategy maintains
this proven philosophy and applies it to international developed and emerging markets.
The ongoing expansion of a globalized economy enables U.S.centric investors to find growth opportunities outside of their
own borders.
Uncovering Growth Outside the U.S.
At Alger, we believe the opportunities for investing globally are
significant and are of particular interest to us as pioneers of
growth investing.
Borders Don’t Matter. 54% of the world’s market capitalization is outside the U.S., based on the country breakdown of the
MSCI All Country World Index (ACWI), a commonly used global
index. While U.S. companies are a dominant force, international companies are strong and expanding.
Expanded Opportunity Set. There are 46 countries in the
MSCI ACWI Index, which means there is a larger opportunity
set of investable countries and companies versus only investing in companies based in the U.S.
Wealth is Spreading. Global markets are experiencing strong
growth. Nearly 80% of the world’s total output is generated by
foreign countries, based on gross domestic product. This means
investors who limit their investments to the U.S. may miss out on
attractive investment opportunities around the globe.
Consistent Investment Process. Alger’s international growth
team employs a fundamental, bottom-up research approach
to seek growth companies that are experiencing change not
yet fully recognized by other investors. The team seeks
companies with strong business models, and determines if
the companies are experiencing relative price strength,
underappreciated growth, or realized growth.
Deep Experience. The members of our international growth
team have an average of 21 years of investing experience.
They are experts in analyzing companies across all market
caps, sectors, and regions. In addition, they have in-country
experience, are experts on their regions, and are fluent in
foreign languages.
Portfolio Diversification. Investors can achieve diversification outside of the U.S. by investing in the Alger International
Growth Strategy. The Strategy focuses its investments in
non-U.S. developed markets, with the flexibility to invest in
emerging markets.
Alger International Growth Fund
Alger International Growth Fund is an open-end mutual fund. The strategy is also
available for institutional separate accounts.
Share Class
Ticker A
C
I
Z
ALGAX015565856
ALGCX 015565799
AIGIX 015565344
ALCZX 015565393
For more information visit www.alger.com/international.
CUSIP
F LYER 2 / 2
Risk Disclosure: 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 prices of growth stocks tend to be higher in relation to their companies’
earnings and may be more sensitive to market, political and economic developments. Investing in foreign securities involves risks related to the political, social, and
economic conditions of foreign countries, particularly emerging market countries.
These risks may include political instability, exchange control regulations, expropriation, lack of comprehensive information, national policies restricting foreign investment, currency fluctuations, less liquidity, undiversified and immature economic
structures, inflation and rapid fluctuations in inflation, withholding or other taxes,
and operational risks. 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 where the Strategy
can invest 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 information, market, and
valuation risks, and may not be suitable for all investors. Investing in companies of
all capitalizations involves the risk that smaller issuers in which the Strategy invests
may have limited product lines or financial resources, or lack management depth.
Alger strategies can use derivatives. A small investment in derivatives could have a
potentially large impact on a strategy’s performance. Diversification does not assure
a profit nor does it protect against loss of principal.
The Morgan Stanley Capital International (MSCI) All Country World Index (ACWI) is a
market capitalization-weighted index designed to provide a broad measure of equity
market performance throughout the world, including both developed and emerging
markets. The MSCI ACWI ex USA Index is a market capitalization-weighted index
designed to measure the equity market performance of developed and emerging markets, excluding the U.S. Investors cannot invest directly in any index. Index
performance does not reflect the deduction for fees, expenses, or taxes.
The Alger Funds offer:
•C
lass A and C shares, which can be purchased by individual investors directly or
through a financial intermediary. Class A shares are subject to a maximum 5.25%
front-end sales charge. Certain Class A and all Class C shares held less than one
year are subject to a 1% contingent deferred sales charge (CDSC). Class A and
Class C shares may be subject to a redemption fee of 2% on shares purchased and
redeemed (including by exchange) within 30 days of purchase.
•C
lass I shares for institutional investors, such as corporations, foundations, and
trusts managing various types of employee benefit plans, as well as charitable,
religious, and educational institutions, and can be purchased or redeemed through
a financial intermediary. There are no sales charges on purchases or redemptions.
•C
lass Z shares are generally subject to a minimum initial investment of $500,000.
There are no distribution and/or service fees for Class Z shares, and Class Z shares
do not impose a front-end charge.
Prior to May 31, 2013, the Alger International Growth Fund, followed a different
investment objective and different strategies under the name “Alger Large Cap
Growth Fund.”
Before investing, carefully consider the Fund’s investment objective,
risks, charges, and expenses. For a prospectus or summary prospectus
containing this and other information about the Fund, call (800) 9923863, visit www.alger.com, or consult your financial advisor. Read the
prospectus carefully before investing.
Not all funds, strategies, or share classes are available at all firms.
Please check with your financial advisor for details.
Distributor: Fred Alger & Company, Incorporated, Member NYSE
Euronext, SIPC.
NOT FDIC INSURED. NOT BANK GUARANTEED. MAY LOSE VALUE.
Fred Alger & Company, Incorporated 360 Park Avenue South, New York, NY 10010 / 800.992.3863 / www.alger.com
ALG-INGR0615