Fred Alger Management, an investment management company, released its “Alger Mid Cap Focus Fund” second quarter 2024 investor letter. U.S. equities were positive in the quarter, with the S&P Index finishing up 4.28%. Class A shares of the fund underperformed the Russell Midcap Growth Index in the quarter. The Communication Services and industrials sectors were the relative contributors while Health Care and Information Technology detracted from the relative performance. In addition, please check the fund’s top five holdings to know its best picks in 2024.
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