Alger Growth & Income Portfolio- Class I-2 (AIGOX)

Alger Growth & Income Portfolio seeks to provide capital appreciation and current income.

Fred Alger Management, LLC believes companies undergoing Positive Dynamic Change offer the best opportunities. Positive Dynamic Change refers to companies realizing High Unit Volume Growth or companies undergoing opportunities for capital appreciation and which also pay dividends. The Manager classifies dividend paying companies into three categories: Dividend Leaders, Dividend Growers, and Kings of Cash Flow. The Portfolio invests at least 65% of its total assets in dividend paying equity securities and may invest up to 35% of its total assets in equity securities that do not pay dividends or in money market instruments and repurchase agreements. The Portfolio focuses on growing companies that have a market capitalization equal to or greater than the market capitalization of companies included in the S&P 500 Index. The Portfolio may sell a stock when it reaches a target price, it fails to perform as expected, or other opportunities appear more attractive. The Portfolio may invest a significant portion of its assets in securities of companies conducting business within a single sector, and may invest in cash (and cash equivalents) when the Portfolio is unable to find enough attractive long-term investments to meet its investment objective, to meet redemptions and/or when the Manager believes it is advisable to do so.