Alger Growth and Income Fund, Portfolio add detail to strategies

By Toni Weeks

San Diego, Feb. 13 - Alger Funds further defined the types of companies that two of its funds, the Alger Growth and Income Fund and the Alger Growth and Income Portfolio, class I-2, targets for investment purposes, according to a 497 filing with the Securities and Exchange Commission.

The funds will continue to invest primarily in equity securities such as common or preferred stocks that offer opportunities for capital appreciation and that pay dividends.

Now, New York-based Fred Alger Management, Inc., the fund's manager, has classified the companies it intends to invest in into three categories: dividend leaders, which are companies that generate high dividend payouts, dividend growers, which are companies that have a history of consistent dividend growth, and kings of cash flow, which are companies that have strong potential for generating capital appreciation and the ability to return significant amounts of cash to investors as a result of their free cash flow.

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