AOFIX Fees and Costs — Alger Small Cap Focus Fund, Class I
Data updated: 2026-09-25
The net expense ratio is 1.22%: a 0.75% management fee, a 0.25% 12b-1 fee plus 0.22% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.8M in broker commissions, 0.1743% of average net assets, and portfolio turnover was 88%.
AOFIX Fees and Expenses
Annual operating expenses and sales charges of AOFIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.75% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.22% |
| Gross expense ratio | 1.22% |
| Fee waiver | — |
| Net expense ratio | 1.22% |
| 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 |
AOFIX Costs Over Time
On $10,000 invested in AOFIX, assuming 5% a year before costs, total costs come to $865 over 5 years, cutting the return by 1.46% 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 1.22%) | $128 | $398 | $687 |
| Trading costs (broker commissions) | $18 | $57 | $98 |
| Lost growth on money paid in costs | $0 | $23 | $80 |
| Total costs | $146 | $478 | $865 |
| Value after costs | $10,354 | $11,099 | $11,898 |
| Impact on return, per year | 1.46% | 1.46% | 1.46% |
AOFIX 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): 0.1743%
- Total broker commissions: $1.8M
- Bought from dealers (principal trades, not a cost): $37.9M
- Portfolio turnover (prospectus): 88%
- Securities lending: none during the year
AOFIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Pershing LLC | $414K | 27.08% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $398K | 26.04% |
| Fred Alger & Company, LLC | $277K | 18.15% |
| DINOSAUR FINANCIAL GROUP, L.L.C | $122K | 8.00% |
| NATIONAL FINANCIAL SERVICES LLC | $82K | 5.36% |
| STIFEL, NICOLAUS & CO INC | $63K | 4.15% |
| RBC DOMINION SECURITIES INC | $47K | 3.06% |
| WELLS FARGO SECURITIES, LLC | $44K | 2.86% |
| ROBERT W. BAIRD & CO. INC. | $43K | 2.84% |
| WILLIAM BLAIR & COMPANY, L.L.C. | $37K | 2.45% |
AOFIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| JEFFERIES LLC | $10.6M | 28.01% |
| PERSHING LLC | $7.8M | 20.72% |
| J.P. Morgan Securities LLC | $6.2M | 16.32% |
| GOLDMAN SACHS & CO. LLC | $5.8M | 15.28% |
| MORGAN STANLEY & CO. LLC | $3.4M | 9.06% |
| Cowen and Company, LLC | $3.0M | 7.82% |
| CitiGroup Global Markets Inc. | $371K | 0.98% |
| BNY MELLON CAPITAL MARKETS, LLC | $364K | 0.96% |
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $322K | 0.85% |
Alger Small Cap Focus Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| AOFYX | Class Y | 0.86% | — |
| AGOZX | Class Z | 0.88% | — |
| AOFIX | Class I | 1.22% | — |
| AOFAX | Class A | 1.30% | 5.25% |
| AOFCX | Class C | 2.00% | 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.