Fred Alger Management, an investment management company, released its “Alger Spectra Fund” second quarter 2024 investor letter. In 2024's second quarter, U.S. stocks were positive, with the S&P 500 rising 4.28%. The Materials and Industrials sectors underperformed compared to the S&P 500 Index, while the Information Technology and Communication Services sectors outperformed. There was a notable return gap in the second quarter, where large-cap growth stocks saw meaningful gains, while smaller-cap and particularly value stocks lagged. Against this backdrop, the fund outperformed the...
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