ALZFX Fees and Costs — Alger Focus Equity Fund, Class Z
Data updated: 2026-09-25
The net expense ratio is 0.66%: a 0.52% management fee plus 0.14% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2.6M in broker commissions, 0.0967% of average net assets, and portfolio turnover was 134%.
ALZFX Fees and Expenses
Annual operating expenses and sales charges of ALZFX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.52% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.14% |
| Gross expense ratio | 0.66% |
| Fee waiver | — |
| Net expense ratio | 0.66% |
| 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 |
ALZFX Costs Over Time
On $10,000 invested in ALZFX, assuming 5% a year before costs, total costs come to $476 over 5 years, cutting the return by 0.79% 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 0.66%) | $69 | $217 | $377 |
| Trading costs (broker commissions) | $10 | $32 | $55 |
| Lost growth on money paid in costs | $0 | $12 | $44 |
| Total costs | $79 | $261 | $476 |
| Value after costs | $10,421 | $11,315 | $12,287 |
| Impact on return, per year | 0.79% | 0.79% | 0.79% |
ALZFX 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): 0.0967%
- Total broker commissions: $2.6M
- Bought from dealers (principal trades, not a cost): $148.7M
- Portfolio turnover (prospectus): 134%
- Securities lending: none during the year
ALZFX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $651K | 29.86% |
| Pershing LLC | $400K | 18.35% |
| Fred Alger & Company, LLC | $345K | 15.84% |
| DINOSAUR FINANCIAL GROUP, L.L.C | $225K | 10.35% |
| NATIONAL FINANCIAL SERVICES LLC | $155K | 7.13% |
| MORGAN STANLEY & CO. LLC | $116K | 5.31% |
| WELLS FARGO SECURITIES, LLC | $101K | 4.61% |
| J.P. Morgan Securities LLC | $69K | 3.15% |
| Stifel, Nicolaus & Company, Incorporated | $65K | 2.96% |
| UBS Securities LLC | $53K | 2.43% |
ALZFX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $59.2M | 46.79% |
| Databricks, Inc. | $52.6M | 41.54% |
| SB Technology Inc. | $7.8M | 6.19% |
| PIPER SANDLER & CO. | $3.9M | 3.06% |
| MORGAN STANLEY & CO. LLC | $2.4M | 1.93% |
| LPS Capital LLC | $473K | 0.37% |
| Jefferies & Company Inc | $93K | 0.07% |
| CitiGroup Global Markets Inc. | $50K | 0.04% |
| Prosetta Biosciences, Inc. | $1 | 0.00% |
Alger Focus Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| ALGYX | Class Y | 0.61% | — |
| ALZFX | Class Z | 0.66% | — |
| ALGRX | Class I | 0.95% | — |
| ALAFX | Class A | 0.99% | 5.25% |
| ALCFX | Class C | 1.74% | none |
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.