Alger Press Release

CONTACTS: Prosek

Alger

Nicole Schoenberg 212.279.3115 x 236

Scott A. Anderson 212-806-2972

For Immediate Release

High-Conviction Alger Capital Appreciation Focus Strategy Achieves Five-Year Record

NEW YORK, February 12, 2018 – Fred Alger Management, Inc. (“Alger”) is pleased to announce the Alger Capital Appreciation Focus Strategy (the “Strategy”) achieved its five-year performance record at the end of 2017. The Strategy is a focused portfolio of approximately 50 high-conviction, large capitalization stocks managed by Patrick Kelly, CFA, and Dr. Ankur Crawford. “As a focused version of our Capital Appreciation strategy, we invest in fewer, but larger positions of our best ideas,” said Mr. Kelly. “We create a portfolio of our highest conviction ideas utilizing in-depth research from Alger’s analyst team. We are quite pleased the Strategy achieved this milestone and believe its long-term performance is a testament to our people, process, and philosophy.”

The Strategy has outperformed its benchmark, the Russell 1000 Growth Index, from inception five years ago through 12/31/17. The Strategy also outperformed its benchmark in 2017 by 380 basis points.

Average Annual Total Returns (%) as of 12/31/17

Since Inception (1/1/13)

1 Year

3 Years

5 Years

Gross of Fees Return Net of Fees Return

34.6 34.0 30.2

13.9 13.5 13.8

18.5 18.0 17.3

18.5 18.0 17.3

Russell 1000 Growth Index

Only periods greater than 12 months are annualized.

Additionally, the Strategy had very strong risk and return statistics versus its peers in the eVestment U.S. Large Cap Growth Equity universe, as demonstrated by its ranking in the top quintile for Returns, Information Ratio, Batting Average, and Upside Market Capture (for the five-year period ended 12/31/17 out of 302 strategies). Alger Capital Appreciation Focus Relative to the Russell 1000 Growth (Five-year period ended 12/31/17) Risk/Return Statistic Percentile Ranking Returns 15 Information Ratio 14 Batting Average 6 Annualized Alpha 38 Sharpe Ratio 33 Upside Market Capture 9 “We believe investors seeking strong long-term return potential should align themselves with active managers with proven investment philosophies and processes,” said Dan Chung, CEO and CIO of Alger. “The rigorous, bottom-up research process employed by our investment team enables the portfolio managers across all of our focused strategies to have confidence when constructing a portfolio with fewer holdings.”

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