Alger Emerging Markets Fund A EU/  LU1232088465  /

Alger SICAV - Alger Emerging Markets Fund (the "Fund") seeks long term capital appreciation. Under normal circumstances, the Fund invests at least two thirds of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of emerging country issuers. Emerging countries primarily include, but are not limited to, the countries that comprise the MSCI Emerging Markets Index. In addition, the investment adviser may consider classifications including those of the World Bank, the International Finance Corporation, or the United Nations (and its agencies) in determining whether a country is an emerging country. Currently, most Central and South American, African, Asian and Eastern European nations, among others, are considered emerging countries. The Fund may invest up to 10% of its net assets in "China-A Shares" via the Stock Connect. The Fund intends to invest a substantial portion of its assets in a small number of issuers, and may concentrate its holdings in fewer business sectors or industries. The Fund will hold approximately 50 securities. The number of securities held by the Sub-Fund may occasionally exceed this range for a variety of reasons. The Fund's benchmark is the MSCI Emerging Markets Index (the "Benchmark"). The Benchmark is a free float-adjusted market capitalization index that is designed to measure equity market performance in emerging markets. The Fund is actively managed, meaning that it does not intend to replicate the Benchmark but tries to exceed its performance. The Fund is not constrained by the Benchmark. The Benchmark is used for comparison purposes only. The Fund can invest in financial derivative instruments for hedging purposes and for efficient portfolio management purposes.

Alger SICAV - Alger Emerging Markets Fund (the "Fund") seeks long term capital appreciation. Under normal circumstances, the Fund invests at least two thirds of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of emerging country issuers. Emerging countries primarily include, but are not limited to, the countries that comprise the MSCI Emerging Markets Index. In addition, the investment adviser may consider classifications including those of the World Bank, the International Finance Corporation, or the United Nations (and its agencies) in determining whether a country is an emerging country. Currently, most Central and South American, African, Asian and Eastern European nations, among others, are considered emerging countries. The Fund may invest up to 10% of its net assets in "China-A Shares" via the Stock Connect.