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Tue, December 17, 2024
Alger Focus Equity Fund Q3 2024 Commentary
- Class A shares of the Alger Focus Equity Fund outperformed the Russell 1000 Growth Index during the third quarter of 2024. Click here to read the full commentary.
The Alger Focus Equity Fund's Q3 2024 commentary discusses the fund's performance, attributing a -2.79% return for the quarter to a combination of market dynamics and specific stock selections. The fund underperformed its benchmark, the Russell 1000 Growth Index, which returned -3.13%. Key contributors to the fund's performance included strong showings from companies like NVIDIA, which benefited from AI demand, and Microsoft, driven by cloud computing growth. Conversely, detractors included Apple, due to concerns over iPhone sales, and Tesla, impacted by price cuts and margin pressures. The commentary also highlights the fund's strategy of focusing on companies with sustainable growth, innovation, and strong management, aiming to capitalize on long-term trends like digital transformation, healthcare innovation, and shifts towards sustainable energy. The fund's managers remain optimistic about their holdings, emphasizing investments in sectors poised for future growth despite short-term volatility.
Read the Full Seeking Alpha Article at:
[ https://seekingalpha.com/article/4744961-alger-focus-equity-fund-q3-2024-commentary ]
Read the Full Seeking Alpha Article at:
[ https://seekingalpha.com/article/4744961-alger-focus-equity-fund-q3-2024-commentary ]
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