Institutional Strategies Main

Emerging Market Equity

Strategy Objective

A growth-oriented emerging market equity strategy that invests in the common stocks of emerging market-domiciled companies and seeks to outperform the MSCI Emerging Markets Index over a full market cycle.

Key Differentiators
  • In-depth capital structure analysis
  • Rigorous top-down and fundamental research
  • High active share, high relative growth focus
  • Team approach to management

Strategy Details




As of 31/3/18
Inception Date:
01/12/2013
Strategy Assets*:
$18.9 M
Benchmark:
MSCI Emerging Markets

Resources

Sector Weightings

AS OF 31/3/18
% of Assets MSCI Emerging Markets Under/Overweight %
Information Technology 30.1% 27.7%
Financials 23.9 24.0
Consumer Discretionary 12.9 9.5
Industrials 8.2 5.2
Consumer Staples 7.2 6.5
Energy 5.8 7.2
Materials 4.6 7.3
Real Estate 2.9 2.8
Health Care 2.9 2.8
Telecom Services 1.5 4.6
 

Representative Portfolio Ten Largest Holdings

AS OF 31/3/18
Company Country Sector %
Tencent Holdings, Ltd. China Information Technology 6.4
Alibaba Group Holding, Ltd. China Information Technology 5.9
Taiwan Semiconductor Mfg Co. Taiwan Information Technology 5.1
China Construction Bank Corp China Financials 3.8
Naspers, Ltd. - Class N South Africa Consumer Discretionary 3.2
Ping An Insurance Group Company China Financials 2.6
Sberbank Of Russia Pjsc Russia Financials 2.6
Hana Financial Group, Inc. South Korea Financials 2.2
Hdfc Bank Ltd - Adr India Financials 2.1
Larsen & Toubro, Ltd. India Industrials 2.1

Characteristics

AS OF 31/3/18
  Calamos Portfolio MSCI Emerging Markets
Assets in Strategy $18.9 million N/A
# of Holdings 76 847
Portfolio Turnover % (12-Month) 72.4% N/A
Median Market Cap ($bil) $24.9 $6.0
Weighted Average Market Cap ($bil) $114.3 $95.7
ROIC % 24.8% 18.6%
Debt/Capital % 27.5% 26.9%
PEG Ratio (1 year forward) 1.1x 1.2x

Regional Exposure

AS OF 31/3/18
Region %
Asia/Pacific 75.2%
Latin America 11.0%
Europe 7.4%
Middle East/Africa 6.3%
North America 0.1%

Annualized Total Returns

AS OF 31/3/18
1-Year3-YearSince Inception (12/13)
Emerging Market Equity (Gross)31.71%8.04%5.01%
Emerging Market Equity (Net)30.31%6.87%3.88%
MSCI Emerging Markets25.37%9.21%6.03%

Calendar Year Returns

AS OF 31/3/18
                           Qtr Ending Mar 18YTD 2018201720162015201412/01/2013 to 12/31/2013
Emerging Market Equity (Gross)3.93%3.93%41.20%-0.15%-12.07%-5.47%1.50%
Emerging Market Equity (Net)3.66%3.66%39.70%-1.24%-13.04%-6.48%1.41%
MSCI Emerging Markets1.46%1.46%37.75%11.60%-14.60%-1.82%-1.44%



Risk/Reward Since Inception

AS OF 31/3/18
  Calamos Emerging Market Equity Composite MSCI Emerging Markets
Alpha -0.35% N/A
Beta 0.90 1.00
Standard Deviation 14.50% 15.20%
Upside Semivariance 9.98% 11.47%
Downside Semivariance 7.46% 7.76%
Sharpe Ratio 0.3216 0.3740
Information Ratio -0.1974 N/A

Since Inception Up/Down Capture Vs. MSCI Emerging Markets

AS OF 31/3/18 83.16 = Upside
88.92 = Downside

* Strategy Assets reflect all assets that are currently being managed (collectively) under the Calamos Emerging Market Equity Strategy.

Strategy Vehicles

Separately Managed Accounts Minimum: $25 million

34601E

Emerging Market Equity Institutional Strategy Fact Sheet
Fact Sheet The Emerging Market Equity Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.
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Emerging Market Equity Strategy Performance Review Thumbnail
Emerging Market Equity Strategy Performance Review A quarterly discussion of the Calamos Emerging Market Equity Strategy’s performance versus a benchmark, positioning, related market commentary, and outlook.
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