ALMZX Fees and Costs — Alger Mid Cap Growth Institutional Fund, Class Z-2
Data updated: 2026-09-25
The net expense ratio is 0.79%: a 0.76% management fee plus 0.30% other expenses, less a 0.27% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $45K in broker commissions, 0.0757% of average net assets, and portfolio turnover was 91%.
ALMZX Fees and Expenses
Annual operating expenses and sales charges of ALMZX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.76% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.30% |
| Gross expense ratio | 1.06% |
| Fee waiver | −0.27% |
| Net expense ratio | 0.79% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
ALMZX Costs Over Time
On $10,000 invested in ALMZX, assuming 5% a year before costs, total costs come to $543 over 5 years, cutting the return by 0.91% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.79%) | $83 | $259 | $450 |
| Trading costs (broker commissions) | $8 | $25 | $43 |
| Lost growth on money paid in costs | $0 | $14 | $50 |
| Total costs | $91 | $298 | $543 |
| Value after costs | $10,409 | $11,278 | $12,220 |
| Impact on return, per year | 0.91% | 0.91% | 0.91% |
ALMZX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0757%
- Total broker commissions: $45K
- Bought from dealers (principal trades, not a cost): $477K
- Portfolio turnover (prospectus): 91%
- Securities lending: none during the year
ALMZX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Fred Alger & Company, LLC | $10K | 25.65% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $9K | 22.30% |
| NATIONAL FINANCIAL SERVICES LLC | $4K | 9.36% |
| Pershing LLC | $4K | 8.96% |
| Jefferies & Company Inc | $4K | 8.90% |
| DINOSAUR FINANCIAL GROUP, L.L.C | $3K | 8.72% |
| GOLDMAN SACHS & CO. LLC | $2K | 5.11% |
| INSTINET, LLC | $2K | 4.53% |
| WELLS FARGO SECURITIES, LLC | $2K | 4.01% |
| SG AMERICAS SECURITIES LLC | $989 | 2.47% |
ALMZX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $450K | 94.38% |
| PERSHING LLC | $26K | 5.53% |
| MORGAN STANLEY & CO. LLC | $429 | 0.09% |
| Prosetta Biosciences, Inc. | $3 | 0.00% |
Alger Mid Cap Growth Institutional Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ALMZX | Class Z-2 | 0.79% | — |
| ALMRX | Class I | 1.27% | — |
| AGIRX | Class R | 1.87% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.