CNEIX Fees and Costs — Alger Concentrated Equity Fund, Class I
Data updated: 2026-09-25
The net expense ratio is 0.81%: a 0.45% management fee, a 0.25% 12b-1 fee plus 2.13% other expenses, less a 2.02% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $2K in broker commissions, 0.0374% of average net assets, and portfolio turnover was 68%.
CNEIX Fees and Expenses
Annual operating expenses and sales charges of CNEIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.25% |
| Other expenses | 2.13% |
| Gross expense ratio | 2.83% |
| Fee waiver | −2.02% |
| Net expense ratio | 0.81% |
| 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 |
CNEIX Costs Over Time
On $10,000 invested in CNEIX, assuming 5% a year before costs, total costs come to $532 over 5 years, cutting the return by 0.89% 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 0.81%) | $85 | $266 | $462 |
| Trading costs (broker commissions) | $4 | $12 | $21 |
| Lost growth on money paid in costs | $0 | $14 | $49 |
| Total costs | $89 | $292 | $532 |
| Value after costs | $10,411 | $11,284 | $12,231 |
| Impact on return, per year | 0.89% | 0.89% | 0.89% |
CNEIX 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): 0.0374%
- Total broker commissions: $2K
- Bought from dealers (principal trades, not a cost): $36K
- Portfolio turnover (prospectus): 68%
- Securities lending: none during the year
CNEIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Merrill Lynch, Pierce, Fenner & Smith Incorporated | $449 | 22.93% |
| Pershing LLC | $380 | 19.39% |
| NATIONAL FINANCIAL SERVICES LLC | $239 | 12.19% |
| Instinet LLC | $178 | 9.09% |
| Fred Alger & Company, LLC | $169 | 8.63% |
| MORGAN STANLEY & CO. LLC | $130 | 6.64% |
| Stifel, Nicolaus & Co., Inc. | $108 | 5.50% |
| JP MORGAN SECURITIES LLC | $103 | 5.27% |
| GOLDMAN SACHS & CO. LLC | $102 | 5.22% |
| JEFFERIES LLC | $101 | 5.14% |
CNEIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| Goldman Sachs & Co. LLC | $36K | 100.00% |
Alger Concentrated 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 |
|---|---|---|---|
| CNEYX | Class Y | 0.56% | — |
| CNEZX | Class Z | 0.56% | — |
| CNEAX | Class A | 0.81% | 5.25% |
| CNEIX | Class I | 0.81% | — |
| CNECX | Class C | 1.56% | 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.