Boston-based Fred Alger Management is reopening the Alger Small Cap Growth (ALSAX) and Alger Small Cap Growth Institutional (ALSRX) funds to new investors starting Aug. 1, according to a filing.

Both funds employ a similar investment thesis in focusing on “small, fast-growing companies” that the firm “believes offer innovative products, services or technologies to a rapidly expanding marketplace,” according to the firm. The funds invest in equity securities of companies that have total market capitalization within the range of companies included in the Russelll 2000 Growth Index or the S&P SmallCap 600 Index.

Jill Greenwald manages both funds. The small cap fund currently manages some 239 million and the small cap international offering has 1.3 billion in assets.

Fred Alger was founded in 1964 and as of March 31 managed some $17 billion in assets.