An actively managed global strategy that leverages Calamos' capital structure research by investing in equities and equity-sensitive securities of global companies, in order to generate consistent alpha and manage downside volatility.
Strategy: Global equities, convertibles
*Strategy AUM reflects all assets that are currently being managed (collectively) under the Calamos Global Opportunities Strategy.
Chief Investment Officers
John P. Calamos, Sr.
Nick P. Calamos
Co-Heads of Research & Investments
7 Portfolio Specialists
Infrastructure & Execution*
*Information is as of 3/31/14.
Since Inception Up/Down Capture Vs. MSCI World Index (USD)
Annualized Total Returns
Calendar Year Returns
Composite returns are gross of fees. Net of fees returns for YTD 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, are 1.65%, 12.73%, 7.06%, -1.92%, 15.39%, 33.15%, -35.08%, 14.56%, 16.14%, and 19.56% respectively.
Rolling 5-Year Returns
Composite returns are gross of fees. Net of fees returns for March 31 2014, 2013, 2012, 2011, 2010, 2009, 2008, 2007, 2006, 2005, are 13.41%, 4.12%, 3.54%, 5.67%, 7.63%, 1.37%, 13.99%, 11.93%, 9.91%, and 2.18% respectively.
Representative Portfolio Ten Largest Holdings‡
‡The information provided should not be considered a recommendation to purchase or sell any security. There is no assurance that any securities presented herein will remain in the portfolio at the time you receive information or that securities sold have not been repurchased. The securities discussed do not represent an account's entire portfolio and in the aggregate may represent only a small percentage of an account's portfolio holdings. It should not be assumed that any securities transactions or holdings presented were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities presented herein. Ten largest holdings exclude cash or cash equivalents, any government/sovereign bonds or instruments on broad based indexes the portfolio may hold.
First Quarter 2011 Attribution vs. MSCI World Index
Information technology contributed to relative performance. While an overweight position detracted from relative returns, security selection added significantly to performance. Particularly notable performers included holdings within the semiconductors and communications equipment industries. We continue to overweight this sector due to its cleaner balance sheets and the attractive valuations, based on Calamos estimates. Within IT, we favor companies offering products that enhance corporate productivity. We believe that capital spending will continue to increase and we have positioned the portfolio accordingly.
Security selection within and an underweight to the consumer discretionary sector added to relative returns. Security selection within the Internet retail industry was notably positive. Our focus in this area is on strong global brands with diversified revenue bases, as well as on lower-cost providers servicing a more cost-conscious consumer.
Security selection within the materials sector detracted from relative returns. Holdings within the diversified metals and mining industry trailed the index. We believe strong demand coming from many Asian economies, as well as continued global stimulus, should help boost commodity prices and benefit portfolio holdings within the sector.
The portfolio’s underweight to Japan added value. We are analyzing the longer-term economic effects from the events in Japan, including the impact to individual companies, the global economic recovery, as well as the potential currency implications associated with the yen intervention. The portfolio’s holdings within the United Kingdom and Denmark also contributed to relative returns.
The Fund is offered solely to non-U.S. investors under the terms and conditions of the Fund's current prospectus. The prospectus contains important information about the Fund and should be read carefully before investing. A copy of the full and simplified prospectus for the Fund may be obtained by clicking here, or by contacting the local Paying Agent listed by jurisdiction, or through the Fund's Transfer Agent, State Street Fund Services (Ireland) Limited, listed here.
Calamos is a registered investment adviser only in the U.S. and advisory services are not being offered directly, but may be available through select financial professionals in your local jurisdiction.