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15 important things you should know about Alger ALMZX mutual fund

Updated: September 18, 2020
67
Bull Case
  • 3-year return above the benchmark
  • 5-year return above the benchmark
  • 10-year return above the benchmark
  • No sales load or distribution fees
Bear Case
  • Low net assets
  • High expense ratio

Before we start: if you’re looking for ALMZX “stock” price, you can quickly find it out by visiting Finny and typing "ALMZX quote". If you’re looking for a quick scoop on ALMZX "stock" (price chart, key stats, buy or sell analysis and holdings), go to Finny and look for "ALMZX". You’ll get all this info in one place.

Are you looking to buy or sell ALMZX? Or perhaps you’re looking for ALMZX fact sheet, and learn about its alternatives? If so, you came to the right place.

In this ALMZX mutual fund review, we’ll address key questions our readers have been asking us about this fund, above and beyond what you can find in its prospectus, and on Morningstar or Yahoo Finance.

Here is what you’ll be able to find in this review:

  • Fact Sheet: ALMZX performance, returns, expense ratio, holdings and dividend yield;
  • Analysis: ALMZX buy or sell; the pros and cons of investing in ALMZX mutual fund;
  • Alternatives: other ETFs and mutual funds you should consider as alternatives to ALMZX.

And here is the list of questions we’ll answer:

  1. Describe Alger Institutional Funds: Alger Mid Cap Growth Institutional Fund; Class Z-2 Shares (ALMZX).
  2. What are ALMZX holdings?
  3. What is ALMZX performance? What are ALMZX historical returns?
  4. How many up and down years did ALMZX have historically?
  5. What is ALMZX dividend yield?
  6. What is ALMZX minimum initial investment amount?
  7. What is ALMZX expense ratio?
  8. Does ALMZX have any sales loads or 12b-1 distribution expenses?
  9. What is ALMZX tax efficiency (tax-cost ratio)?
  10. What is ALMZX beta? How would you assess ALMZX risk?
  11. What is ALMZX Sharpe ratio?
  12. What is ALMZX Finny Score? ALMZX buy or sell?
  13. What are the pros of investing in ALMZX? What are ALMZX buy reasons?
  14. What are the cons of investing in ALMZX? What are ALMZX sell reasons?

So let’s start. Scroll down to the question that interests you the most.

Fact Sheet

1. Describe Alger Institutional Funds: Alger Mid Cap Growth Institutional Fund; Class Z-2 Shares (ALMZX).

The Fund seeks long-term capital appreciation. To achieve its objective, the fund will invest primarily in the equity securities of medium-capitalization companies.

2. What are ALMZX top holdings?

ALMZX has 105 stock holdings and 0 bond holdings.

The top 10 holdings represent 18.99% of total assets. Here are the top holdings:

Name Symbol % Assets
DexCom Inc DXCM 3.34%
US Foods Holding Corp USFD 2.49%
Fiserv Inc FISV 2.45%
Tolero Cdr/Rec N/A 1.59%
Dollar General Corp DG 1.58%
Veeva Systems Inc Class A VEEV 1.58%
Crown Castle International Corp CCI 1.51%
Global Payments Inc GPN 1.51%
Fair Isaac Corp FICO 1.48%
Vail Resorts Inc MTN 1.46%

3. What is ALMZX performance? What are ALMZX historical returns?

ALMZX has generated the following returns:

  • 1-month return is -1.03%;
  • 3-month return is 15.36%;
  • 1-year return is 27.94%;
  • 3-year return is 17.94%;
  • 5-year return is 15.06%;
  • 10-year return is 14.18%.

4. How many up and down years did ALMZX have historically?

In the last 10 years, ALMZX had 7 up years and 3 down years. See Performances

5. What is ALMZX dividend yield?

ALMZX yield is 0%.

6. What is ALMZX minimum initial investment amount?

ALMZX minimum initial investment amount is N/A.

7. What is ALMZX expense ratio?

ALMZX expense ratio is 1.05%. The expense ratio of a fund is the total percentage of fund assets used for administrative, management, and all other expenses. See Expenses

8. Does ALMZX have any sales loads or 12b-1 distribution expenses?

ALMZX 12b-1 distribution fee is 0. ALMZX front-end sales load is 0. ALMZX back-end sales load is 0.

9. What is ALMZX tax efficiency (tax-cost ratio)?

  • 1-year ax cost ratio is 1.88%;
  • 3-year ax cost ratio is 1.47%.

See Taxes

10. What is ALMZX beta? How would you assess ALMZX risk?

  • 3-year beta is 1.12;
  • 5-year beta is 1.13;
  • 10-year beta is 1.16.

See Risks

11. What is ALMZX Sharpe ratio?

  • 3-year Sharpe ratio is 0.70;
  • 5-year Sharpe ratio is 0.56;
  • 10-year Sharpe ratio is 0.80.

See Risks

Analysis

12. What is Finny Score? buy or sell?

Finny Score is 67. Our quantitative analysis shows 4 reasons to buy and 2 reasons to sell it, resulting in the Finny Score of 67.

13. What are the pros of investing in ALMZX? What are ALMZX buy reasons?

The following are ALMZX strengths from our perspective:

  • <strong>ALMZX 3-year return</strong> is 17.94%, which is higher than the 3-year return of the benchmark index (Russell Mid Cap Growth TR USD), 16.11%.
  • <strong>ALMZX 5-year return</strong> is 15.06%, which is higher than the 5-year return of the benchmark index (Russell Mid Cap Growth TR USD), 14.36%.
  • <strong>ALMZX 10-year return</strong> is 14.18%, which is in line with the 10-year return of the benchmark index (Russell Mid Cap Growth TR USD), 14.83%.
  • Good news: this fund does not have 12b1, front-end or back-end sales fees.

14. What are the cons of investing in ALMZX? What are ALMZX negatives?

The following are ALMZX weaknesses from our perspective:

  • <strong>ALMZX net assets</strong> are $12.40 million. This fund is not a popular choice with retail investors.
  • <strong>ALMZX expense ratio</strong> is 1.05%, which is not negligible. Is the fund expensive to you, and does it align to your investment strategy?
In the ALMZX review, we covered ALMZX key stats (return, performance, yield, expense ratio, and holdings), buy and sell analysis, and alternative investments. If this review was helpful to you, feel free to check out other mutual fund and ETF reviews.
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