FRED ALGER
& COMPANY,
INCORPORATED
Administrative Office: Executive Office:
30 Montgomery Street 1 World Trade Center
Jersey City, New Jersey 07302 Suite 9333
(201) 547-3600 New York, New York 10048
Fax (201) 434-1459 (212) 806-8800
Fax (212)269-0420
Member New York Stock Exchange
June 21, 2000
VIA EDGAR
Securities and Exchange Commission
450 Fifth St., N.W.
Washington, DC 20549
RE: SPECTRA FUND (the "Fund")
FILE NO. 33-98102
FILE NO. 811-01743
Dear Sir or Madam:
On behalf of the above-referenced Fund, we hereby transmit for filing
pursuant to Rule 497(e) of the Securities Act of 1933, a supplement to the
Prospectus for the above referenced Fund. This supplement indicates replacement
of one of the Fund's Portfolio Managers.
If you require additional information, please do not hesitate to call
me at (800) 223-3810.
Very truly yours,
/s/ ERIC SANDERS
----------------
Eric Sanders
Associate Counsel
Enclosure
<PAGE>
SPECTRA FUND
SUPPLEMENT DATED JUNE 21, 2000 TO THE PROSPECTUS DATED FEBRUARY 25, 2000
The paragraph on page 4 of Spectra Fund's Prospectus under the heading
"Portfolio Managers" is hereby amended to read as follows:
David Alger and Seilai Khoo are the individuals responsible for the
day-to-day management of the Fund's portfolio and have served in that capacity
since 1974 and June 2000, respectively. Mr. Alger has been employed by the
Manager as Executive Vice President and Director of Research since 1971, and as
President since 1995. Ms. Khoo has been employed by Alger Management since 1989,
as a senior research analyst until 1995 and as a Senior Vice President and a
portfolio manager since 1995.
