Strategies

View Summary of Returns
AS OF 30/9/17
Strategy Name Index Since Inception Returns Inception Date
Gross Net Index
Active Growth Equity
Emerging Market Equity
MSCI Emerging Markets2.98%1.87%4.45%01/12/2013
Global Growth
MSCI ACWI Growth9.10%7.94%6.37%01/04/2007
International Growth
MSCI ACWI ex-US Growth9.37%8.31%6.46%01/04/2005
International Growth Concentrated
MSCI ACWI ex-US Growth5.24%4.20%5.55%01/12/2013
U.S. All Cap Growth
Russell 3000 Growth Index14.36%13.46%9.66%01/01/1991
Lower Volatility Equity/Risk Managed
Emerging Economies
MSCI Emerging Markets11.31%10.06%11.50%01/12/2008
Global Opportunities
MSCI ACWI9.55%8.56%6.87%01/10/1996
U.S. Opportunities
S&P 500 Index12.99%12.21%10.15%01/01/1991
Convertible
Global Convertible
BofA ML VG00 - Global 3008.06%7.00%7.13%01/10/2001
U.S. Convertible
BofA ML VOAO - All ex Mand Index9.69%9.02%10.07%01/01/1991
Fixed Income
Core Plus Fixed Income
Bloomberg Barclays U.S. Aggregate Bond Index5.25%4.68%4.45%01/07/2007
High Income Opportunities
Bloomberg Barclays U.S. High Yield 2% Issuer Capped Bond7.77%6.98%7.50%01/11/1999
Alternatives
Covered Call
S&P 500 Index5.41%4.63%9.90%01/01/2015
Market Neutral Income
S&P 500 Index7.97%7.20%10.15%01/01/1991
Phineus Long/Short
MSCI World Index14.00%12.35%7.51%01/06/2002
Strategy Name Quarter YTD 1 Year 3 Year 5 Year 10 Year Since Inception Inception Date
Active Growth Equity
Emerging Market EquityGross10.75%32.87%18.79%4.09%--2.98%01/12/2013
Net10.46%31.82%17.52%2.96%--1.87%01/12/2013
Global GrowthGross8.87%27.04%22.01%10.87%10.51%7.67%9.10%01/04/2007
Net8.60%26.08%20.75%9.69%9.31%6.52%7.94%01/04/2007
International GrowthGross10.48%31.47%21.89%8.05%7.72%4.96%9.37%01/04/2005
Net10.21%30.55%20.72%7.00%6.70%3.95%8.31%01/04/2005
International Growth ConcentratedGross8.84%27.40%14.51%7.34%--5.24%01/12/2013
Net8.57%26.46%13.37%6.28%--4.20%01/12/2013
U.S. All Cap GrowthGross4.44%19.86%18.85%8.81%11.90%5.96%14.36%01/01/1991
Net4.23%19.14%17.90%8.00%11.06%5.14%13.46%01/01/1991
Lower Volatility Equity/Risk Managed
Emerging EconomiesGross10.58%31.12%18.70%4.56%4.60%-11.31%01/12/2008
Net10.34%30.24%17.54%3.39%3.40%-10.06%01/12/2008
Global OpportunitiesGross4.94%15.61%13.16%6.68%7.35%4.61%9.55%01/10/1996
Net4.73%14.92%12.25%5.84%6.51%3.74%8.56%01/10/1996
U.S. OpportunitiesGross3.62%12.08%15.04%8.82%9.65%6.66%12.99%01/01/1991
Net3.44%11.53%14.29%8.09%8.93%5.96%12.21%01/01/1991
Convertible
Global ConvertibleGross3.55%13.48%12.29%7.25%7.49%5.47%8.06%01/10/2001
Net3.20%12.34%10.77%5.72%6.10%4.46%7.00%01/10/2001
U.S. ConvertibleGross3.18%13.06%13.08%5.76%8.54%5.80%-01/01/1991
Net3.00%12.47%12.30%5.02%7.79%5.10%-01/01/1991
Fixed Income
Core Plus Fixed IncomeGross0.94%3.58%1.30%3.69%3.23%5.07%5.25%01/07/2007
Net0.80%3.15%0.74%3.12%2.66%4.49%4.68%01/07/2007
High Income OpportunitiesGross2.05%6.69%9.07%4.63%5.60%6.38%7.77%01/11/1999
Net1.86%6.09%8.26%3.85%4.83%5.60%6.98%01/11/1999
Alternatives
Covered CallGross1.84%6.66%8.99%---5.41%01/01/2015
Net1.65%6.07%8.18%---4.63%01/01/2015
Market Neutral Income*Gross1.07%4.45%5.86%4.51%4.55%4.24%7.97%01/01/1991
Net0.90%3.93%5.15%3.81%3.84%3.53%7.20%01/01/1991
Phineus Long/ShortGross0.91%8.32%20.58%10.21%11.85%11.22%14.00%01/06/2002
Net0.60%7.32%19.12%8.71%10.28%9.61%12.35%01/06/2002

For a full list of our available strategies, please contact us at 800.582.6959.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown.

Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average assuming reinvestment of dividends and capital gains distributions.

Returns reflect the Calamos All Cap Growth Composite, which is an actively managed Composite investing in common stocks, primarily in high-growth industries and companies. The Composite includes all fully discretionary, fee-paying accounts, including those no longer with the Firm.

Returns presented reflect the Calamos Global Growth Composite, which is an actively managed composite primarily investing in a globally-diversified portfolio of equity securities. The Composite was created March 22, 2007 calculated with an inception date of April 1, 2007 and includes all fully discretionary, tax-exempt, fee paying accounts, including those no longer with the Firm.

Returns presented reflect the Calamos International Growth Composite, which is an actively managed composite primarily investing in common stocks issued by companies outside the United States. The Composite includes all fully discretionary fee paying accounts, including those no longer with the Firm.

Returns presented reflect the Calamos International Growth Concentrated Composite, which is an actively managed composite primarily investing in a concentrated number of equity securities of non-U.S. domiciled companies. The Composite was created December 13, 2013, with an inception date of December 1, 2013.

Returns presented reflect the Calamos International Growth Concentrated Composite, which is an actively managed composite primarily investing in a concentrated number of equity securities of non-U.S. domiciled companies. The Composite was created December 13, 2013, with an inception date of December 1, 2013.

Returns presented reflect the Calamos Emerging Market Equity Composite which is an actively managed strategy that primarily invests in a diversified portfolio of emerging market equity securities. Constituent portfolio assets are predominantly invested in equity securities of issuers whose principal activities are in a developing market or are economically tied to a developing market country. The Composite was created December 13, 2013, calculated with an inception date of December 1, 2013. Results include all fully discretionary accounts, including those no longer with the Firm.

Returns presented reflect the Calamos Emerging Economies Composite, which is an actively managed composite investing in a globally diversified portfolio of equity, convertible or debt securities, with at least 35% of constituent portfolio assets are invested in securities of issuers that are organized in emerging market countries. Investments in securities of developed market companies are generally limited to those companies which derive 20% or more of assets or revenues from emerging market countries. The Composite was created December 1, 2010 calculated with an inception date of December 1, 2008 and includes all fully discretionary fee paying accounts, including those no longer with the Firm.

Returns presented are based on the Calamos U.S. Opportunities Composite, which is an actively managed Composite investing in equity, convertible and high yield securities seeking long term total return through growth and current income. The Composite was created August 31, 2013 calculated with an inception date of January 1, 1991. The Composite includes all fully discretionary, fee-paying accounts, including those no longer with the Firm.

Returns presented reflect the Calamos Global Opportunities Composite, which is an actively managed composite primarily investing in a globally diversified portfolio of equity, convertible and fixed-income securities, with equal emphasis on capital appreciation and current income. The Composite includes all fully discretionary fee paying accounts, including those no longer with the Firm.

Returns presented are based on the Calamos Institutional Convertible Composite, which is an actively managed Composite investing primarily in high-quality U.S. convertible bonds. The Composite was created March 1, 2014, calculated with an inception date of January 1, 1991. The Composite includes all fully discretionary, fee-paying accounts, including those no longer with the firm.

The Calamos Global Convertible Composite is an actively managed composite investing primarily in a globally diversified portfolio of convertible securities. The Composite includes all fully discretionary fee paying accounts, including those no longer with the Firm. The Composite was created May 15, 2008, calculated with an inception date of October 1, 2001.

Returns presented reflect the Calamos Institutional Core Plus Fixed Income Composite, which is an actively managed composite investing primarily in a diversified portfolio of investment-grade securities that generally have a dollar-weighted average portfolio duration between three to ten years. The Composite was created December 1, 2010, calculated with an inception date of July 1, 2007 and includes all fully discretionary, fee paying accounts, including those no longer with the Firm.

Returns presented reflect the Calamos High Income Opportunities Composite, which is an actively managed Composite investing in high yield fixed income securities, primarily with credit ratings lower than investment grade securities. The Composite includes all fully discretionary, fee-paying accounts, including those no longer with the Firm.

Returns presented reflect the Calamos Covered Call Composite, which is an actively managed composite which seeking to generate total return with lower volatility than equity markets. The strategy invests in a broadly diversified portfolio of equity securities while also writing (selling) index call options and/or entering into other options strategies on equity securities and/or broad based indices. The Composite was created January 13, 2015 calculated with an inception date of January 1, 2015. Results include all fully discretionary accounts, including those no longer with the Firm.

Returns presented reflect the Calamos Market Neutral Income Composite, which is an actively managed “market neutral” composite seeking to achieve maximum current income while maintaining a low correlation to the fluctuations of the U.S. equity market as a whole. The Composite was created November 15, 2013 calculated with an inception date of January 1, 1991. Results include all fully discretionary accounts, including those no longer with the Firm.

Returns presented reflect the Calamos Phineus Long/Short Composite, which is an actively managed composite primarily investing in long and short positions of global publicly listed equity securities. The Composite was created September 30, 2015 calculated with an inception date of June 1, 2002 and includes all fully discretionary fee paying accounts, including those no longer with the Firm. On October 1, 2015 Calamos acquired Phineus Partners, LP which has managed the strategy since its inception in 2002.

Returns greater than 12 months are annualized.

Source: Calamos Advisors LLC and Russell/Mellon Analytical Services LLC.

The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate bond market. The index includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed rate and hybrid ARM pass-throughs), ABS and CMBS sectors. The Bloomberg Barclays U.S. Government/Credit Bond Index includes treasuries and agencies that represent the government portion of the index, and includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements to represent credit interests. The BofA Merrill Lynch All U.S. Convertibles Ex Mandatory Index measures the return of all U.S. Convertibles excluding mandatory convertibles. The BofA Merrill Lynch Global 300 Convertible Index (VG00) is a global convertible index composed of companies representative of the market structure of countries in North America, Europe and the Asia/Pacific region. The BofA Merrill Lynch BB-B U.S. High Yield Constrained Index (HUC4) contains all securities in The BofA Merrill Lynch U.S. High Yield Index rated BA1 through B3, based on an average of Moody’s, S&P and Fitch, but caps issuer exposure at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. The MSCI ACWI Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets and emerging markets. The MSCI ACWI Growth Index is a free float-adjusted market capitalization weighted index that is designed to measure the growth equity market performance of developed markets and emerging markets. The MSCI ACWI ex-U.S. Growth Index is a free float-adjusted market capitalization weighted index that is designed to measure the growth equity market performance of developed and emerging markets, excluding the United States. The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The MSCI World Index is a market capitalization weighted index composed of companies representative of the market structure of developed market countries in North America, Europe, and the Asia/Pacific Region. The MSCI indexes are calculated without dividends, with net or with gross dividends reinvested, in both U.S. dollars and local currencies. The S&P 500 Index is an unmanaged index generally considered representative of the performance of the U.S. equity market. The Russell 1000 Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000 companies with higher price-to-book ratios and higher forecasted growth values. The Russell 3000 Growth Index measures the performance of those Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values. The stocks in this index are also members of either the Russell 1000 Growth or the Russell 2000 Growth indexes.

Unmanaged index returns assume reinvestment of any and all distributions and do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index. Manager's fees are further described in Part II of the Adviser's Form ADV, which is available upon request.

Calamos Advisors LLC is a federally registered investment advisor. Part II of Form ADV, which provides background information about the firm and its business practices, is available upon written request to:

Calamos Advisors LLC
2020 Calamos Court
Naperville, IL 60563-2787
Attn: Compliance Officer