Alger Mid Cap Focus Fund’s Q1 2025 Investor Letter

Fred Alger Management, an investment management company, released its “Alger Mid Cap Focus Fund” first quarter 2025 investor letter. In Q1 2025, U.S. equities faced increased volatility due to shifting fiscal, monetary, and trade policies. The rise of advanced AI models from China, which matched U.S. capabilities at lower costs, intensified this uncertainty. As a result, investors reevaluated the high capital expenditures of U.S. tech firms, leading to a sell-off in AI stocks and concerns over domestic AI returns. Against this backdrop, Class A shares of the Fund underperformed the...