Alger Mid Cap Focus Fund Class I
AFOIX
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- Alger Mid Cap Focus Fund Class I (AFOIX) is an open-end mutual fund managed by Fred Alger Management, LLC, a pioneer in growth-style investment management that invests primarily in mid-cap growth equities exhibiting positive dynamic change, including companies with high revenue growth, earnings power, market dominance, and balance sheet strength; the fund targets U.S. stocks in sectors such as technology, industrials, healthcare, consumer cyclical, and communication services, with top holdings including AppLovin Corp, Robinhood Markets Inc, Nebius Group NV, Talen Energy Corp, and Cloudflare Inc; it maintains a focused portfolio with approximately 89.61% in U.S. stocks, 7.08% in non-U.S. stocks, and limited cash exposure. Fred Alger Management, founded in 1964 and headquartered at 100 Pearl Street, 27th Floor, New York, NY, operates as a privately held firm wholly owned by Alger Associates, Inc., providing growth equity strategies through mutual funds, ETFs, separate accounts, and other vehicles to institutional and retail investors primarily in the United States, with expanding presence in Europe and Asia. The fund, launched on June 14, 2019, and managed by Amy Zhang since inception, features a net expense ratio of 1.11% and total net assets of approximately $251.92 million as of recent data, with Class I shares available to institutional investors with no minimum initial investment. In recent developments, Fred Alger Management acquired Redwood Investments, LLC in early 2024, adding over $1.6 billion in assets and enhancing international growth equity capabilities, with Redwood operating as a wholly-owned subsidiary sub-advising new strategies like the Alger International Small Cap Fund; the firm launched actively managed ETFs including Alger AI Enablers & Adopters ETF (ALAI) and Alger Concentrated Equity ETF (CNEQ) in April 2024, surpassing $600 million in ETF assets by October 2025; additionally, Alger adjusted expense ratios upward for I share classes of Alger Mid Cap Focus and Small Cap Focus funds in July 2024, and continued quarterly rebalancing of innovation-focused indices into late 2025.