Institutional Strategies Main

U.S. GROWTH

Strategy Objective

An all-cap growth equity strategy that invests in the common stocks of growth companies and seeks to outperform the Russell 3000 Growth 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 30/6/14
Inception Date:
01/1/91
Strategy Assets*:
$4.8 B
Benchmark:
Russell 3000 Growth Index

Resources

* Strategy Assets includes assets under management as well as assets for which the company provides model portfolio design and oversight.

Sector Weightings

AS OF 30/6/14
% of Assets Russell 3000 Growth Index Under/Overweight %
Information Technology 29.0% 27.5%
Consumer Discretionary 23.5 18.1
Industrials 14.4 12.4
Health Care 14.0 13.6
Financials 8.3 5.4
Energy 7.3 6.3
Consumer Staples 3.0 10.0
Materials 0.5 4.4
Telecommunication Services 0.0 2.2
Utilities 0.0 0.1
 

Representative Portfolio Ten Largest Holdings

AS OF 30/6/14
Company Sector %
Apple, Inc. Information Technology 5.2
Facebook, Inc. - Class A Information Technology 3.4
Eaton Corp., PLC Industrials 2.3
Gilead Sciences, Inc. Health Care 2.3
Google, Inc. - Class A Information Technology 2.3
Schlumberger, Ltd. Energy 2.3
Google, Inc. - Class C Information Technology 2.3
Cerner Corp. Health Care 2.3
Chicago Bridge & Iron Company, NV Industrials 2.1
Priceline Group, Inc. Consumer Discretionary 2.0

Characteristics

AS OF 30/6/14
  Calamos Portfolio Russell 3000 Growth Index
Assets in Strategy $4.8 billion N/A
# of Holdings 95 1,804
Portfolio Turnover % (5-Year) 64.8% N/A
Median Market Cap ($bil) $18.1 $1.8
Weighted Average Market Cap ($bil) $93.7 $102.1
ROIC % 23.1% 20.7%
Debt/Capital % 24.3% 37.9%
PEG Ratio (1 year forward) 1.4x 1.7x

Composite Summary

AS OF 30/6/14
Period Ending Composite Assets (in Millions) Total Assets (in Millions) % Of Total Assets Managed # Of Clients Average Acct. Size (in Millions)
12/31/2012 7,011 30,580 22.9% 32 219
12/31/2011 8,294 32,777 25.3% 19 437
12/31/2010 9,678 35,414 27.3% 14 691
12/31/2009 9,194 32,144 28.6% 15 613
12/31/2008 7,104 23,522 30.2% 18 395
12/31/2007 17,219 46,208 37.3% 101 170
12/31/2006 18,168 44,725 40.6% 108 168
12/31/2005 19,213 43,805 43.9% 97 198
12/31/2004 14,154 37,975 37.3% 45 315
12/31/2003 6,889 23,840 28.9% 26 265

Annualized Total Returns

AS OF 30/6/14
1-Year3-Year5-Year10-Year15-YearSince Inception (1/91)
U.S. Growth (Gross)30.92%10.48%17.35%7.54%11.38%15.20%
U.S. Growth (Net)29.95%9.63%16.43%6.70%10.54%14.24%
Russell 3000 Growth Index26.75%16.11%19.34%8.27%3.27%9.36%

Calendar Year Returns

AS OF 30/6/14
                           Qtr ending Jun 14YTD 201420132012201120102009200820072006200520042003200220012000199919981997199619951994199319921991
U.S. Growth (Gross)2.93%3.57%34.57%10.96%-7.46%21.70%54.20%-49.59%24.75%2.46%9.75%20.07%44.12%-15.36%-6.23%28.63%81.11%29.84%26.68%40.63%30.02%-3.79%6.45%3.76%42.96%
U.S. Growth (Net)2.73%3.18%33.56%10.09%-8.21%20.72%52.99%-50.00%23.80%1.65%8.89%19.13%42.97%-15.37%-7.13%27.41%79.46%28.62%25.49%39.32%28.80%-4.71%5.44%2.77%41.63%
Russell 3000 Growth Index4.86%5.98%34.23%15.21%2.18%17.64%37.01%-38.44%11.40%9.46%5.17%6.93%30.97%-28.03%-19.63%-22.42%33.82%35.02%28.74%21.88%36.57%2.20%3.69%5.22%41.66%



Risk/Reward Since Inception

AS OF 30/6/14
  Calamos All Cap Growth Composite Russell 3000 Growth Index
Alpha 5.80% N/A
Beta 1.04 1.00
Standard Deviation 21.90% 16.92%
Upside Semivariance 28.78% 13.73%
Downside Semivariance 13.09% 10.88%
Sharpe Ratio 0.56 0.37
Information Ratio 0.47 N/A

Since Inception Up/Down Capture Vs. Russell 3000 Growth Index

AS OF 30/6/14

Strategy Vehicles

Separately Managed Accounts Minimum: $5 million
UCITS (AVAILABLE IN A, I, X SHARE CLASSES) Minimum: $1 million

34601E

Fact Sheet The U.S. Growth Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.
U.S. Growth Strategy Performance Review A discussion of the Calamos U.S. Growth Strategy’s performance versus a benchmark, positioning, related market commentary, and outlook.
Equity Valuation Process A review of Calamos Investments’ research process for determining a company’s business valuation and how Calamos research uncovers the economic profits of a company and how our research determines the quality of the cash flows, the return on capital, and finally, the equity’s valuation.
Investment Team View the Growth Equity/Fixed Income Team biographies