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 06/30/16
Inception Date:
12/01/13
Strategy Assets*:
$13.0 M
Benchmark:
MSCI Emerging Markets

Resources

Sector Weightings

AS OF 06/30/16
% of Assets MSCI Emerging Markets Under/Overweight %
Information Technology 27.2% 22.5%
Financials 17.3 26.1
Consumer Discretionary 14.5 10.5
Consumer Staples 13.3 8.5
Industrials 8.2 6.2
Health Care 6.9 2.7
Telecom Services 4.2 6.6
Energy 4.1 7.4
Materials 3.2 6.3
Utilities 1.1 3.2
 

Representative Portfolio Ten Largest Holdings

AS OF 06/30/16
Company Country Sector %
Tencent Holdings, Ltd. Cayman Islands Information Technology 4.3
Taiwan Semiconductor Mfg Co. Taiwan Information Technology 3.6
China Mobile, Ltd. Hong Kong Telecom Services 3.1
Samsung Electronics Co., Ltd. South Korea Information Technology 3.1
NAVER Corp. South Korea Information Technology 2.8
Baidu, Inc. Cayman Islands Information Technology 2.6
Larsen & Toubro, Ltd. India Industrials 2.6
Naspers, Ltd. - Class N South Africa Consumer Discretionary 2.5
Ctrip.com International, Ltd. Cayman Islands Consumer Discretionary 2.2
Wal-Mart de Mexico SAB de CV Mexico Consumer Staples 2.2

Characteristics

AS OF 06/30/16
  Calamos Portfolio MSCI Emerging Markets
Assets in Strategy $13.0 million N/A
# of Holdings 74 836
Portfolio Turnover % (5-Year) N/A N/A
Median Market Cap ($bil) $9.9 $4.7
Weighted Average Market Cap ($bil) $45.4 $46.0
ROIC % 21.0% 16.1%
Debt/Capital % 22.1% 27.2%
PEG Ratio (1 year forward) 1.4x 1.3x

Regional Exposure

AS OF 06/30/16
Asia/Pacific 66.0%
Latin America 20.3%
Europe 7.1%
Middle East/Africa 6.6%
North America 0.0%

Calendar Year Returns

AS OF 06/30/16
                           Qtr Ending Jun 16YTD 20162015201412/01/2013 to 12/31/2013
Emerging Market Equity (Gross)3.04%4.65%-12.07%-5.47%1.50%
Emerging Market Equity (Net)2.76%4.08%-13.04%-6.48%1.41%
MSCI Emerging Markets0.80%6.60%-14.60%-1.82%-1.44%



Risk/Reward Since Inception

AS OF 06/30/16
  Calamos Emerging Market Equity Composite MSCI Emerging Markets
Alpha -0.74% N/A
Beta 0.84 1.00
Standard Deviation 15.18% 16.97%
Upside Semivariance 8.74% 11.76%
Downside Semivariance 9.93% 11.53%
Sharpe Ratio -0.3148 -0.2863
Information Ratio 0.0137 N/A

Since Inception Up/Down Capture Vs. MSCI Emerging Markets

AS OF 06/30/16

* 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
Institutional Mutual Fund (CIEIX) Minimum $1 million

34601E

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.
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.