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Alger International Focus Fund
ALCZX (Mutual Fund)
Alger International Focus 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
7.2%
1 yr return
8.7%
3 Yr Avg Return
-3.4%
5 Yr Avg Return
6.8%
Net Assets
$152 M
Holdings in Top 10
33.5%
52 WEEK LOW AND HIGH
$19.5
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.00%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 75.27%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
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
ALCZX - Profile
Distributions
- YTD Total Return 7.2%
- 3 Yr Annualized Total Return -3.4%
- 5 Yr Annualized Total Return 6.8%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio -0.13%
- Dividend Yield 0.1%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameAlger International Focus Fund
-
Fund Family NameAlger Family of Funds
-
Inception DateDec 29, 2010
-
Shares OutstandingN/A
-
Share ClassZ
-
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 in equity securities, including common stocks, American Depositary Receipts and Global Depositary Receipts, of foreign companies. Foreign companies are companies generally defined by a third party, or in certain circumstances by a Portfolio Manager, (i) that are organized under the laws of a foreign country; (ii) whose securities are primarily listed in a foreign country; or (iii) that have a majority of their assets, or derive more than 50% of their revenue or profits from businesses, investments, or sales, outside the United States. The Fund normally focuses its foreign investments in developed countries, but may also invest in emerging market securities. The Fund may invest in companies of any market capitalization, from large, well-established companies to small, emerging growth companies.Emerging market countries include all countries categorized as Emerging Markets or Frontier Markets by Morgan Stanley Capital International (MSCI).The Fund generally invests in at least three foreign countries, and, at times, may invest a substantial portion of its assets in a single foreign country. The Fund’s benchmark is the MSCI All Country World Index (ACWI) ex USA, which is an unmanaged, market capitalization-weighted index designed to provide a broad measure of equity market performance throughout the world, including both developed and emerging markets, but excluding the United States.The Fund may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive.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, including the information technology, consumer discretionary, health care, industrials and financials sectors.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.The Fund’s investment objective is a fundamental policy and may not be changed without shareholder approval.
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ALCZX - Performance
Return Ranking - Trailing
| Period | ALCZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.2% | -5.9% | 31.9% | 33.68% |
| 1 Yr | 8.7% | -5.6% | 32.7% | 28.95% |
| 3 Yr | -3.4%* | -11.0% | 6.5% | 63.66% |
| 5 Yr | 6.8%* | -2.8% | 11.1% | 10.32% |
| 10 Yr | 5.6%* | 2.0% | 9.6% | 42.20% |
* Annualized
Return Ranking - Calendar
| Period | ALCZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 18.4% | -0.4% | 28.6% | 16.32% |
| 2022 | -30.7% | -49.5% | -15.2% | 71.35% |
| 2021 | 0.6% | -22.2% | 19.3% | 57.53% |
| 2020 | 43.8% | -3.7% | 85.0% | 8.02% |
| 2019 | 22.4% | -4.0% | 45.1% | 84.76% |
Total Return Ranking - Trailing
| Period | ALCZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 7.2% | -5.9% | 31.9% | 33.68% |
| 1 Yr | 8.7% | -5.6% | 32.7% | 28.95% |
| 3 Yr | -3.4%* | -11.0% | 6.5% | 63.66% |
| 5 Yr | 6.8%* | -2.8% | 11.1% | 10.32% |
| 10 Yr | 5.6%* | 2.0% | 9.6% | 42.20% |
* Annualized
Total Return Ranking - Calendar
| Period | ALCZX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 18.6% | 1.8% | 28.6% | 23.68% |
| 2022 | -30.3% | -44.4% | -11.0% | 80.11% |
| 2021 | 9.1% | -20.6% | 20.5% | 44.93% |
| 2020 | 43.8% | 7.6% | 97.1% | 9.17% |
| 2019 | 28.3% | 0.5% | 45.3% | 48.89% |
NAV & Total Return History
ALCZX - Holdings
Concentration Analysis
| ALCZX | Category Low | Category High | ALCZX % Rank | |
|---|---|---|---|---|
| Net Assets | 152 M | 201 K | 133 B | 85.26% |
| Number of Holdings | 42 | 4 | 1806 | 82.63% |
| Net Assets in Top 10 | 51 M | 70.5 K | 36.7 B | 84.21% |
| Weighting of Top 10 | 33.46% | 10.1% | 99.9% | 42.63% |
Top 10 Holdings
- Taiwan Semiconductor Manufacturing Co Ltd 5.50%
- Novo Nordisk A/S 3.81%
- AstraZeneca PLC 3.47%
- ICICI Bank Ltd 3.37%
- Nippon Sanso Holdings Corp 3.11%
- Dollarama Inc 3.07%
- Recruit Holdings Co Ltd 2.87%
- Bharat Electronics Ltd 2.83%
- CTS Eventim AG Co KGaA 2.71%
- Nintendo Co Ltd 2.71%
Asset Allocation
| Weighting | Return Low | Return High | ALCZX % Rank | |
|---|---|---|---|---|
| Stocks | 99.60% | 86.17% | 119.36% | 7.11% |
| Cash | 0.64% | 0.00% | 19.02% | 82.89% |
| Preferred Stocks | 0.00% | 0.00% | 10.21% | 96.84% |
| Other | 0.00% | -1.08% | 3.89% | 96.05% |
| Convertible Bonds | 0.00% | 0.00% | 2.45% | 97.36% |
| Bonds | 0.00% | 0.00% | 0.03% | 96.84% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ALCZX % Rank | |
|---|---|---|---|---|
| Consumer Cyclical | 21.62% | 0.00% | 46.28% | 10.55% |
| Technology | 17.55% | 1.51% | 38.21% | 49.34% |
| Industrials | 15.47% | 0.68% | 31.28% | 47.76% |
| Healthcare | 15.40% | 1.36% | 29.58% | 43.27% |
| Financial Services | 13.82% | 0.00% | 38.62% | 50.13% |
| Basic Materials | 9.58% | 0.00% | 23.15% | 24.54% |
| Consumer Defense | 4.27% | 0.00% | 25.77% | 89.97% |
| Energy | 2.31% | 0.00% | 24.97% | 41.69% |
| Utilities | 0.00% | 0.00% | 9.05% | 99.21% |
| Real Estate | 0.00% | 0.00% | 6.64% | 98.15% |
| Communication Services | 0.00% | 0.00% | 41.13% | 99.74% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ALCZX % Rank | |
|---|---|---|---|---|
| Non US | 76.75% | 0.00% | 100.55% | 72.63% |
| US | 22.85% | 0.00% | 100.02% | 27.63% |
ALCZX - Expenses
Operational Fees
| ALCZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.00% | 0.01% | 10.12% | 53.97% |
| Management Fee | 0.71% | 0.00% | 1.50% | 53.42% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | 0.03% | 0.03% | 0.80% | 4.46% |
Sales Fees
| ALCZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| ALCZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
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.
| ALCZX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 75.27% | 7.00% | 149.00% | 88.92% |
ALCZX - Distributions
Dividend Yield Analysis
| ALCZX | Category Low | Category High | ALCZX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.14% | 0.00% | 12.70% | 75.20% |
Dividend Distribution Analysis
| ALCZX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | SemiAnnual | Annual |
Net Income Ratio Analysis
| ALCZX | Category Low | Category High | ALCZX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.13% | -1.69% | 3.16% | 73.67% |
Capital Gain Distribution Analysis
| ALCZX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 12, 2024 | $0.993 | CapitalGainLongTerm |
| Dec 14, 2023 | $0.027 | OrdinaryDividend |
| Dec 15, 2022 | $0.092 | CapitalGainLongTerm |
| Dec 15, 2021 | $1.969 | CapitalGainLongTerm |
| Dec 18, 2019 | $0.766 | OrdinaryDividend |
| Dec 18, 2018 | $0.494 | OrdinaryDividend |
| Dec 15, 2017 | $0.948 | OrdinaryDividend |
| Dec 14, 2016 | $0.310 | OrdinaryDividend |
| Dec 16, 2015 | $0.068 | OrdinaryDividend |
| Dec 18, 2014 | $0.218 | OrdinaryDividend |
ALCZX - Fund Manager Analysis
Managers
Pragna Shere
Start Date
Tenure
Tenure Rank
Mar 28, 2018
4.18
4.2%
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
Mar 28, 2018
4.18
4.2%
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 |
|---|---|---|---|
| 0.08 | 26.94 | 7.78 | 20.01 |
