Alger Green Fund - Class A Release Date12-31-13

....................................................................................................................................................................................................................................................................................................................................................CategoryLarge Growth

Investment Objective & StrategyFrom the investment's prospectus

The investment seeks long-term capital appreciation.The fund normally invests at least 80% of its net

assets, plus any borrowings for investment purposes, inequity securities of companies of any size that, in the opinionof Fred Alger Management, Inc., conduct their business in anenvironmentally sustainable manner, while demonstratingpromising growth potential. It can leverage, that is borrowmoney to purchase additional securities. The fund can alsoinvest in derivative instruments.

Past name(s): Spectra Green N.

Volatility and RiskVolatility as of 12-31-13

Low Moderate High

Investment

Category

Risk Measures as of 12-31-13 Port Avg Rel S&P 500 Rel Cat

3 Yr Std Dev 12.14 1.00 0.873 Yr Beta 0.97 . 0.89

Principal Risks

Long-Term Outlook and Projections, Loss of Money, Not FDICInsured, Growth Investing, Market/Market Volatility, EquitySecurities, Restricted/Illiquid Securities, Leverage, SociallyConscious, Small Cap

Important InformationMorningstar Investment Profiles must be accompaniedby Morningstar Disclosure and Glossary.

Funds or their affiliates may pay compensation to INGaffiliates offering a fund. Such compensation may be paidout of distribution, service and/or 12b-1 fees that arededucted from the fund's assets, and/or may be paid directlyby the fund's affiliates. Any fees deducted from fund assetsare discussed in the fund's prospectus and disclosed in thefund fact sheet. Because these fees are paid on an on-goingbasis, over time these fees will increase the cost of yourinvestment and may cost you more than paying other typesof sales charges. If offered through a retirement program,additional fees and expenses may be charged under thatprogram. NOT A DEPOSIT. NOT FDIC INSURED. NOTINSURED BY ANY FEDERAL GOVERNMENT AGENCY. NOTGUARANTEED BY THE INSTITUTION. MAY GO DOWN INVALUE.

Portfolio AnalysisComposition as of 10-31-13 % Assets

U.S. Stocks 94.3Non-U.S. Stocks 1.5Bonds 0.0Cash 4.0Other 0.2

Morningstar Style Box™ as of 10-31-13 % Mkt Cap

LargeM

idSm

all

Value Blend Growth

Giant 44.46..........................................................Large 19.22Medium 25.15Small 8.24..........................................................Micro 2.92

Top 10 Holdings as of 10-31-13 % Assets

Apple Inc 4.44Google, Inc. Class A 3.74Home Depot, Inc. 2.50Amazon.com Inc 2.36Johnson & Johnson 2.08...........................................................................................................Starbucks Corporation 2.05Facebook Inc Class A 1.94Bristol-Myers Squibb Company 1.82Coca-Cola Co 1.80Pfizer Inc 1.78

Morningstar Equity Sectors as of 10-31-13 Fund%

Cyclical 31.97............................................................................................................

Basic Materials 5.14Consumer Cyclical 22.13Financial Services 4.70Real Estate 0.00

Sensitive 49.23............................................................................................................

Communication Services 0.00Energy 0.49Industrials 22.43Technology 26.31

Defensive 18.81............................................................................................................

Consumer Defensive 7.71Healthcare 8.16Utilities 2.94

OperationsGross Prosp Exp Ratio 1.49% of fund assetsNet Prosp Exp Ratio 1.35% of fund assetsManagement Fee 0.71%12b-1 Fee 0.25%Other Fee 0.01%Miscellaneous Fee(s) 0.52%Fund Inception Date 12-04-00Total Fund Assets ($mil) 76.6Annual Turnover Ratio % 43.35Fund Family Name Alger

Waiver Data Type Exp. Date %

ExpenseRatio Contractual 02-28-14 0.14

Portfolio Manager(s)

Christopher R. Walsh, CFA. Since 2006.

.............................................................................................Advisor Fred Alger Management, Inc.Subadvisor .

NotesThe Annual Fund Operating Expenses are as of the fiscal year ended October 31, 2012, adjusted for fees currently in place. FredAlger Management, Inc. has contractually agreed to reimburse Fund expenses (excluding interest, taxes, brokerage, andextraordinary expenses) through February 28, 2014 to the extent necessary to limit the total annual fund operating expenses ofthe Class A Shares of the Fund to 1.35% of the class's average daily net assets. This expense reimbursement cannot beterminated.

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13.1584-413 (1/14)C12-0201-016