Alger Capital Appreciation Instl IALARX

Approach Alger Capital Appreciation with caution.

Patrick Kelly has done a solid job managing this fund since taking the helm in 2004. In fact, the fund has landed in the top decile of the large-growth category in three of the four calendar years under Kelly's watch, and it is poised to do so again this year as of Oct.  Read more 

Management seeks industry leaders with solid balance sheets poised to grow rapidly on both the top and bottom lines. Valuations are derived from earnings expectations and discounted cash-flow models and will be sold once price targets are met.  Read more 

Patrick Kelly became manager of this fund in late September 2004, replacing David Hyun. Kelly has been an analyst for Alger, the fund's advisor, since 1999 and a vice president since 2001, but he has not managed a mutual fund before. His former comanager, Teresa McRoberts, left Alger in October 2005.  Read more 

This fund has been on a wild ride since Patrick Kelly became manager in September 2004. High expenses and high turnover limit its appeal, but management has demonstrated solid execution over the past several years.  Read more