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Alger Emerging Markets Fund
ACEMX (Mutual Fund)
Alger Emerging Markets Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
6.6%
1 yr return
7.9%
3 Yr Avg Return
-6.9%
5 Yr Avg Return
1.2%
Net Assets
$20.9 M
Holdings in Top 10
37.4%
52 WEEK LOW AND HIGH
$10.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 2.90%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 83.30%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
$500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
ACEMX - Profile
Distributions
- YTD Total Return 6.6%
- 3 Yr Annualized Total Return -6.9%
- 5 Yr Annualized Total Return 1.2%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -1.35%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAlger Emerging Markets Fund
-
Fund Family NameAlger Family of Funds
-
Inception DateDec 29, 2010
-
Shares OutstandingN/A
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerPragna Shere
Fund Description
The Fund is sub-advised by Redwood Investments, LLC (“Redwood”), an affiliate of the Manager (Redwood and the Manager, collectively referred to as the “Manager,” where applicable). Subject to the general supervision by the Fund’s Board of Trustees, the Manager oversees Redwood and evaluates its performance results. The Manager reviews portfolio performance, compliance with investment guidelines and federal securities laws, and changes in key personnel of Redwood. Redwood is primarily responsible for the day-to-day management of the Fund’s portfolio, including purchases and sales of individual securities.The Fund invests in companies that it believes meet three primary criteria: (1) high quality companies, (2) which are attractively valued, and (3) where the Manager believes that future earnings and free cash flow growth will be meaningfully above what is expected by the market. High quality companies are those companies that offer strong earnings visibility and sustainability because of their durable competitive advantages, capable management teams, and prudent financial management. The Manager focuses on understanding industry and company dynamics to assess company quality, and on identifying and forecasting critical drivers to reach a differentiated view of future growth.The Fund is an all-cap, all-country, opportunistic focus fund which generally holds less than 50 holdings. Fund holdings may differ from this number for a variety of reasons, including, among others, because of extreme market volatility, such as when the Fund has entered a temporary defensive position. Additionally, the Fund may exceed the stated number of holdings when it acquires a new holding and determines that it is in the best interests of shareholders to sell an existing holding over a period of time, instead of immediately selling the entire holding.Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of emerging country issuers. The Manager 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. Emerging countries include, but are not limited to, the countries that comprise the MSCI Emerging Markets Index. Currently, most Central and South American, African, Asian and Eastern European nations, among others, are considered emerging countries.The Fund may invest up to 20% of its net assets in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of frontier country issuers. Frontier countries include, but are not limited to, the countries that comprise the MSCI Frontier Markets Index.For purposes of the Fund’s investment strategies, the issuer of a security is considered to be located in a country if: (i) the company is organized under the laws of, or has a principal office in that country, (ii) the company’s securities are primarily listed in that country, or (iii) a majority of its assets are in, or a majority of its revenue or profits from businesses, investments or sales are from, that country. An emerging or frontier country issuer may also include an exchange-traded fund that is principally invested in equity securities of emerging or frontier market country issuers.The Fund generally invests in at least three emerging countries, and, at times, may invest a substantial portion of its assets in a single emerging country. The Fund may invest in companies of any market capitalization, from larger, well-established companies to small, emerging growth companies.The Fund generally invests a substantial portion of its assets in a smaller number of issuers. The Fund may invest a significant portion of its assets in securities of companies conducting business within a single sector, as defined by third party sources.The Fund may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. As a result, the Fund may engage in active trading of portfolio securities.The Fund invests in cash (and cash equivalents) when the Fund is unable to find enough attractive long-term investments to meet its investment objective, to meet redemptions and/or when the Manager believes it is advisable to do so during times of short-term market volatility. During these times, cash (and cash equivalents) will not exceed 15% of the Fund’s net assets.
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ACEMX - Performance
Return Ranking - Trailing
| Period | ACEMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.6% | -14.1% | 34.9% | 62.57% |
| 1 Yr | 7.9% | -12.7% | 33.6% | 68.14% |
| 3 Yr | -6.9%* | -11.2% | 10.6% | 91.73% |
| 5 Yr | 1.2%* | -6.5% | 10.6% | 59.87% |
| 10 Yr | 2.2%* | -1.6% | 8.6% | 82.66% |
* Annualized
Return Ranking - Calendar
| Period | ACEMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.5% | -6.5% | 35.5% | 22.11% |
| 2022 | -33.1% | -50.1% | -2.4% | 90.87% |
| 2021 | -5.2% | -33.1% | 22.5% | 50.23% |
| 2020 | 36.0% | -22.1% | 80.1% | 6.20% |
| 2019 | 16.2% | -0.7% | 42.0% | 63.18% |
Total Return Ranking - Trailing
| Period | ACEMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 6.6% | -14.1% | 34.9% | 62.57% |
| 1 Yr | 7.9% | -12.7% | 33.6% | 68.14% |
| 3 Yr | -6.9%* | -11.2% | 10.6% | 91.73% |
| 5 Yr | 1.2%* | -6.5% | 10.6% | 59.87% |
| 10 Yr | 2.2%* | -1.6% | 8.6% | 82.66% |
* Annualized
Total Return Ranking - Calendar
| Period | ACEMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 12.5% | -1.0% | 42.0% | 35.66% |
| 2022 | -33.1% | -42.2% | 1.9% | 94.70% |
| 2021 | -3.2% | -32.5% | 33.1% | 63.65% |
| 2020 | 36.0% | -20.0% | 81.6% | 7.99% |
| 2019 | 20.9% | 2.3% | 42.0% | 50.84% |
NAV & Total Return History
ACEMX - Holdings
Concentration Analysis
| ACEMX | Category Low | Category High | ACEMX % Rank | |
|---|---|---|---|---|
| Net Assets | 20.9 M | 682 K | 111 B | 91.88% |
| Number of Holdings | 43 | 9 | 7534 | 93.16% |
| Net Assets in Top 10 | 7.47 M | 290 K | 23.8 B | 91.88% |
| Weighting of Top 10 | 37.42% | 2.9% | 101.1% | 38.09% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 7.88%
- Samsung Electronics Co Ltd 4.89%
- Taiwan Semiconductor Manufacturing Co Ltd 3.83%
- Bharat Electronics Ltd 3.66%
- ICICI Bank Ltd 3.11%
- Trip.com Group Ltd 3.06%
- Capitec Bank Holdings Ltd 2.79%
- MercadoLibre Inc 2.76%
- MLP Saglik Hizmetleri AS 2.73%
- PDD Holdings Inc 2.69%
Asset Allocation
| Weighting | Return Low | Return High | ACEMX % Rank | |
|---|---|---|---|---|
| Stocks | 98.16% | 0.00% | 105.03% | 38.46% |
| Cash | 2.45% | -2.03% | 98.08% | 35.47% |
| Preferred Stocks | 0.00% | 0.00% | 13.31% | 80.20% |
| Other | 0.00% | -1.11% | 39.53% | 62.96% |
| Convertible Bonds | 0.00% | 0.00% | 7.40% | 53.37% |
| Bonds | 0.00% | 0.00% | 95.13% | 57.69% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ACEMX % Rank | |
|---|---|---|---|---|
| Technology | 32.18% | 0.00% | 47.50% | 6.93% |
| Consumer Cyclical | 21.80% | 0.00% | 48.94% | 4.91% |
| Financial Services | 18.43% | 0.00% | 48.86% | 72.01% |
| Basic Materials | 6.17% | 0.00% | 30.03% | 67.82% |
| Industrials | 5.83% | 0.00% | 43.53% | 53.10% |
| Healthcare | 5.44% | 0.00% | 16.53% | 26.98% |
| Consumer Defense | 3.68% | 0.00% | 25.90% | 83.26% |
| Communication Services | 2.38% | 0.00% | 39.29% | 94.95% |
| Real Estate | 2.15% | 0.00% | 17.15% | 33.77% |
| Energy | 1.94% | 0.00% | 24.80% | 76.33% |
| Utilities | 0.00% | 0.00% | 39.12% | 84.99% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ACEMX % Rank | |
|---|---|---|---|---|
| Non US | 75.01% | 0.00% | 100.52% | 82.19% |
| US | 23.14% | 0.00% | 100.95% | 14.96% |
ACEMX - Expenses
Operational Fees
| ACEMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 2.90% | 0.03% | 29.98% | 8.14% |
| Management Fee | 0.75% | 0.00% | 2.00% | 28.96% |
| 12b-1 Fee | 1.00% | 0.00% | 1.00% | 88.26% |
| Administrative Fee | 0.03% | 0.01% | 0.85% | 4.25% |
Sales Fees
| ACEMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | 1.00% | 1.00% | 5.00% | 56.16% |
Trading Fees
| ACEMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | 65.65% |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| ACEMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 83.30% | 0.00% | 189.00% | 81.72% |
ACEMX - Distributions
Dividend Yield Analysis
| ACEMX | Category Low | Category High | ACEMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 9.74% | 96.44% |
Dividend Distribution Analysis
| ACEMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
| ACEMX | Category Low | Category High | ACEMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -1.35% | -1.98% | 17.62% | 99.41% |
Capital Gain Distribution Analysis
| ACEMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Quarterly | Quarterly |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 15, 2021 | $0.267 | CapitalGainLongTerm |
| Dec 18, 2019 | $0.390 | OrdinaryDividend |
| Dec 18, 2018 | $0.111 | OrdinaryDividend |
ACEMX - Fund Manager Analysis
Managers
Pragna Shere
Start Date
Tenure
Tenure Rank
Sep 24, 2019
2.68
2.7%
Pragna Shere, CFA is Senior Vice President and Portfolio Manager of the Alger Global Focus, Alger International Focus and Alger Emerging Markets strategies. She joined Alger in March 2018 and has 29 years of experience. Prior to joining Alger, Pragna worked at Redwood Investments where she was a portfolio manager responsible for non-U.S. equity strategies. Prior to Redwood Investments, Pragna also held senior investment positions at Ashfield Capital Partners, United Nations Joint Staff Pensions Fund, and Clay Finlay, Inc. Pragna earned her B.A. from State University of New York at Stony Brook, New York. In addition, Pragna is a CFA charterholder and a member of the CFA Institute.
Gregory Jones
Start Date
Tenure
Tenure Rank
Sep 24, 2019
2.68
2.7%
Greg Jones, CFA is Senior Vice President and Portfolio Manager of the Alger Global Focus, Alger International Focus and Alger Emerging Markets strategies. He joined Alger in March 2018 and has 34 years of experience. Prior to joining Alger, Gregory worked at Redwood Investments where he was a portfolio manager responsible for non-U.S. equity strategies. Previously, he was Co-CIO and Portfolio Manager at Ashfield Capital Partners. In addition, Gregory founded Jadeite Capital in 2007, formed to manage APAC, emerging markets, and global long-short equity funds. Prior, Gregory was Managing Director and Senior Portfolio Manager at Clay Finlay, Inc. Gregory earned his B.A. from Duke University, and M.B.A. from The University of Chicago Graduate School of Business. In addition, Gregory is a CFA charterholder and a member of the CFA Institute. Greg also served on the board and management committees of Clay Finlay, Inc. and Ashfield Capital Partners.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.09 | 33.71 | 6.68 | 13.42 |
