Form DEFA14A ALGER INSTITUTIONAL FUND

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Top News Most Read Special Reports

June 3, 2025 11:51 AM EDT

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934

(Amendment No. )

Filed by the Registrant ☒

Filed by a party other than the Registrant ☐

Check the appropriate box:

☐	Preliminary Proxy Statement

☐	Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☐	Definitive Proxy Statement

☒	Definitive Additional Materials

☐	Soliciting Material under § 240.14a-12

The Alger Institutional Funds

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

☒	No fee required

☐	Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11

	(1)	Title of each class of securities to which transaction applies:


	(2)	Aggregate number of securities to which transaction applies:


	(3)	Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):


	(4)	Proposed maximum aggregate value of transaction:


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☐	Fee paid previously with preliminary materials.

☐	Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

	(1)	Amount Previously Paid:


	(2)	Form, Schedule or Registration Statement No.:


	(3)	Filing Party:


	(4)	Date Filed:

[DATE]

[NAME]

[ADDRESS LINE 1]

[ADDRESS LINE 2]

IMPORTANT NOTICE

[INSERT PERSONALIZED QR CODE FOR VOTING]

Re: Alger Focus Equity Fund - 2025 Special Meeting of Shareholders.

Dear Valued Shareholder,

Alger Focus Equity Fund has engaged Broadridge Proxy Services Center to assist with an important matter related to your investment.

We kindly request you contact us as soon as possible. You can reach us by calling 1-833-215-7516 during the hours of Monday through Friday: 9:00 AM – 10:00 PM Eastern Time.

Alternatively, you may scan the QR code above to conveniently complete your response online.

This matter is very important and will take only a moment of your time.

Thank you in advance for your assistance with this matter.

Sincerely,

Alger Focus Equity Fund

Dear Representative,

We are reaching out for shareholder support in connection with an upcoming Special Meeting of Shareholders (the “Special Meeting”) for Alger Focus Equity Fund, which will now be held on Monday, June 16, 2025.

We are asking that you encourage your clients to vote to approve the Proposal outlined in the proxy materials distributed to them. The proxy materials describe in detail the Proposal to be considered by the Fund’s shareholders at the Special Meeting.

The Investment Company Act of 1940, as amended, requires the Fund to classify itself as either a “diversified company” or a “non-diversified company” and to recite in its registration statement its classification.

The Proposal, which needs the approval of the Fund’s shareholders, is to change the Fund from a diversified company to a non-diversified company and to eliminate the related fundamental investment policy on diversification. The purpose of the proposed change is to increase the Fund’s investment flexibility.

Shareholder approval of the Proposal would allow the Fund to operate as a non-diversified company, which would provide the Fund’s portfolio managers with additional investment flexibility and the potential to enhance the Fund’s performance.

Over the past several years, the Fund’s style-specific benchmark index, the Russell 1000 Growth Index, has become much more concentrated at the individual stock level. The current level of index concentration coupled with the limitations placed on a diversified company can, at times, constrain the Fund’s ability to fully achieve target exposures to individual securities and limits its ability to invest above 5% of its portfolio in certain issuers.

Additionally, this index concentration forces the Fund’s portfolio to be underweight as compared to some of the top holdings in its benchmark, even if the Fund’s portfolio managers find such holdings to be attractive investment opportunities. This limitation can hinder the Fund’s ability to outperform its benchmark or non-diversified peer funds with otherwise similar investment strategies, on a risk-return basis.

The meeting date is quickly approaching. Your clients’ prompt response will help us meet shareholder approval requirements before the next meeting, thereby reducing the risk of additional solicitation costs and meeting postponement. If your clients have any questions about voting, please call our proxy solicitor, Broadridge, at 1-833-215-7516. Thank you for your support of Alger Focus Equity Fund.

We appreciate any assistance you can offer to encourage voting on this very important matter.

Sincerely,