By Soumya Eswaran
Publication Date: 2026-10-27 10:58:00
Fred Alger Management, an investment management company, released its “Alger Spectra Fund” third-quarter 2026 investor letter. The letter can be downloaded here. During the third quarter of 2026, U.S. equities delivered modest gains, with the S&P 500 advancing 2%. Despite robust corporate earnings and resilient consumer spending, market breadth remained weak as 60% of S&P 500 constituents closed lower. Against this backdrop, the fund lagged the Russell 3000 Growth Index. Class A shares of the fund returned 0.29% without a sales charge and -4.98% with sales charges, compared to 0.45% for the index. Consumer Discretionary and Tech drove the relative performance, whereas Communication Services and Utilities dragged. Macro headwinds weighed on sectors like Energy following oil supply disruptions. On the short side, a position in an IT consulting firm detracted from returns, while a short in an advertising technology company generated positive gains following its weak earnings…
