Institutional Strategies Main

INTERNATIONAL GROWTH CONCENTRATED

Strategy Objective

A non-U.S. all-cap growth equity strategy that invests in a concentrated portfolio of common stocks of growth companies based outside the United States and seeks to outperform the MSCI ACWI ex-U.S. 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 30/9/17
Inception Date:
01/12/2013
Strategy Assets*:
$6.2 M
Benchmark:
MSCI ACWI ex-US Growth

Resources

* Strategy Assets reflect all assets that are currently being managed (collectively) under the Calamos International Concentrated Growth Strategy.

Sector Weightings

AS OF 30/9/17
% of Assets MSCI ACWI ex-US Growth Under/Overweight %
Information Technology 27.9% 17.4%
Financials 16.2 8.9
Industrials 15.3 14.7
Consumer Discretionary 10.6 14.3
Consumer Staples 10.6 16.4
Health Care 8.2 10.0
Materials 4.7 8.7
Energy 3.6 3.6
Telecom Services 2.9 2.6
Real Estate 0.0 2.1
 

Representative Portfolio Ten Largest Holdings

AS OF 30/9/17
Company Country Sector %
Asml Holding, Nv Netherlands Information Technology 4.4
Tencent Holdings, Ltd. China Information Technology 4.1
Alibaba Group Holding, Ltd. China Information Technology 3.9
Roche Holding, Ag Switzerland Health Care 3.6
Komatsu, Ltd. Japan Industrials 3.5
Indiabulls Housing Finance, Ltd. India Financials 3.2
Taiwan Semiconductor Mfg Co. Taiwan Information Technology 3.1
Glencore, Plc Switzerland Materials 3.0
Schneider Electric, Se France Industrials 3.0
Fanuc Corp. Japan Industrials 3.0

Characteristics

AS OF 30/9/17
  Calamos Portfolio MSCI ACWI ex-US Growth
Assets in Strategy $6.2 million N/A
# of Holdings 40 1,060
Portfolio Turnover % (12-Month) 121.0% N/A
Median Market Cap ($bil) $61.8 $8.5
Weighted Average Market Cap ($bil) $103.9 $69.3
ROIC % 17.7% 15.1%
Debt/Capital % 29.6% 30.9%
PEG Ratio (1 year forward) 1.5x 1.9x

Composite Summary

AS OF 30/9/17
Period Ending Composite Assets (in Millions) Total Assets (in Millions) % Of Total Assets Managed # Of Clients Average Acct. Size (in Millions)
12/31/2015 05 21,908 0.0% 1 05
12/31/2014 05 23,506 0.0% 1 05
12/31/2013 05 26,543 0.0% 1 05

44604C

Annualized Total Returns

AS OF 30/9/17
1-Year3-YearSince Inception (12/13)
International Growth Concentrated (Gross)14.51%7.34%5.24%
International Growth Concentrated (Net)13.37%6.28%4.20%
MSCI ACWI ex-US Growth18.07%6.80%5.55%

Calendar Year Returns

AS OF 30/9/17
                           Qtr Ending Sep 17YTD 201720162015201412/01/2013 to 12/31/2013
International Growth Concentrated (Gross)8.84%27.40%-5.82%6.03%-7.42%3.29%
International Growth Concentrated (Net)8.57%26.46%-6.75%4.99%-8.33%3.20%
MSCI ACWI ex-US Growth6.39%25.18%0.49%-0.91%-2.29%1.04%



44604B

Risk/Reward Since Inception

AS OF 30/9/17
  Calamos International Growth Concentrated Composite MSCI ACWI ex-US Growth
Alpha -0.33% N/A
Beta 1.02 1.00
Standard Deviation 12.58% 11.53%
Upside Semivariance 8.16% 6.69%
Downside Semivariance 4.99% 4.41%
Sharpe Ratio 0.3985 0.4625
Information Ratio -0.0731 N/A

Since Inception Up/Down Capture Vs. MSCI ACWI ex-US Growth

AS OF 30/9/17 98.50 = Upside
100.44 = Downside

44604B

Strategy Vehicles

Separately Managed Accounts Minimum: $25 million

34604E

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