Institutional Strategies Main

U.S. MID CAP GROWTH

Strategy Objective

A mid-cap growth equity strategy that seeks to invest in common stocks of U.S. companies in high-growth industries.

Attributes
  • Rigorous Capital Structure Analysis
  • Holistic Approach Tying Macro Perspectives to Fundamental Analysis
  • High Active Share
  • Conviction in Growth Companies and Style Purity
  • Team-Managed
Benefits
  • Diversification from Market Cpaitalization Weighted Indices
  • Leveraging the Experience of over 50 Investment Professionals

Sector Weightings

AS OF 03/31/13
% of Assets Russell Midcap Growth Index Under/Overweight %
Information Technology 28.2% 16.4%
Consumer Discretionary 19.8 24.7
Industrials 17.2 15.6
Health Care 12.7 12.7
Energy 8.8 5.7
Financials 6.8 8.3
Consumer Staples 3.9 8.0
Materials 2.6 6.2
Telecommunication Services 0.0 1.7
Utilities 0.0 0.7
 

Representative Portfolio Ten Largest Holdings

AS OF 03/31/13
Company Sector %
Cognizant Technology Solutions Corp. - Class A Information Technology 3.1
Eaton Corp. Industrials 3.0
Salesforce.com, Inc. Information Technology 2.6
Cerner Corp. Health Care 2.6
Hormel Foods Corp. Consumer Staples 2.6
Solarwinds, Inc. Information Technology 2.4
Dover Corp. Industrials 2.3
AGCO Corp. Industrials 2.2
CommVault Systems, Inc. Information Technology 2.2
Michael Kors Holdings, Ltd. Consumer Discretionary 2.0

Characteristics

AS OF 03/31/13
  Calamos Portfolio Russell Midcap Growth Index
Assets in Strategy $315.8 million N/A
# of Holdings 87 459
Portfolio Turnover % (5-Year) 75.1% N/A
Median Market Cap ($bil) $6.6 $5.4
Weighted Average Market Cap ($bil) $24.2 $10.4
ROIC % 23.3% 18.8%
Debt/Capital % 19.1% 42.5%
PEG Ratio (1 year forward) 1.4x 1.5x

Composite Summary

AS OF 03/31/13
Period Ending Composite Assets (in Millions) Total Assets (in Millions) % Of Total Assets Managed # Of Clients Average Acct. Size (in Millions)
12/31/2012 297 30,580 1.0% 11 27
12/31/2011 298 32,777 0.9% 8 37
12/31/2010 355 35,414 1.0% 9 39
12/31/2009 211 32,144 0.7% 6 35
12/31/2008 258 23,522 1.1% 11 23
12/31/2007 677 46,208 1.5% 16 42
12/31/2006 542 44,725 1.2% 21 26
12/31/2005 692 43,805 1.6% 25 28
12/31/2004 651 37,975 1.7% 20 33
12/31/2003 246 23,840 1.0% 8 31

Past performance does not guarantee or indicate future results. 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.

The information portrayed on the composition tab is supplemental information to the Calamos Mid Cap Growth Composite and as such only relate to the representative portfolio shown. Representative holdings and portfolio characteristics are specific only to the portfolio shown at that point in time. Other portfolios will vary in composition, characteristics, and will experienced different investment results. The representative portfolio shown has been selected by the advisor based on account characteristics that the advisor feels accurately represents the investment strategy as a whole.

Returns or Risk/Rewards statistics presented reflect the Calamos Mid 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. The Composite was created September 1, 2009 calculated with an inception date of February 1, 2003.

Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index. The Russell Midcap® Growth Index measures the performance of those Russell Midcap® companies with higher price to-book ratios and higher forecasted growth values. The Russell Midcap® measures the performance of the 800 smallest companies in the Russell 1000® Index, which represent approximately 25% of the total market capitalization of the Russell 1000® Index.

The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only and should not be considered investment advice.

The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed do not represent an account’s entire portfolio and in the aggregate may represent only a small percentage of an account’s portfolio holdings.

It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein.

Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Russell/Mellon Analytical Services LLC and Calamos Advisors LLC.

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.

44601C

As of 03/31/13

Annualized Total Returns

-0.77%10.48%5.78%9.98%10.00%
-1.43%9.74%5.02%9.11%9.14%
12.76%14.23%7.98%11.53%11.44%

As of 03/31/13

Calendar Year Returns




As of 03/31/13

Rolling 5-Year Returns

5 Years Ended




Past performance does not guarantee or indicate future results. 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.

Returns or Risk/Rewards statistics presented reflect the Calamos Mid 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. The Composite was created September 1, 2009 calculated with an inception date of February 1, 2003.

Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index. The Russell Midcap Growth Index measures the performance of those Russell Midcap companies with higher price to-book ratios and higher forecasted growth values. The Russell Midcap measures the performance of the 800 smallest companies in the Russell 1000 Index, which represent approximately 25% of the total market capitalization of the Russell 1000 Index.

The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only and should not be considered investment advice.

The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed do not represent an account’s entire portfolio and in the aggregate may represent only a small percentage of an account’s portfolio holdings.

It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein.

Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Russell/Mellon Analytical Services LLC and Calamos Advisors LLC.

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.

44601B

Risk/Reward Since Inception

AS OF 03/31/13
  Calamos Mid Cap Growth Composite Russell Midcap Growth Index
Alpha -1.79% N/A
Beta 1.08 1.00
Standard Deviation 20.38% 18.13%
Upside Semivariance 19.15% 15.72%
Downside Semivariance 16.40% 12.75%
Sharpe Ratio 0.41 0.54
Information Ratio -0.16 N/A

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

AS OF 03/31/13

Past performance does not guarantee or indicate future results. 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.

Returns or Risk/Rewards statistics presented reflect the Calamos Mid 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. The Composite was created September 1, 2009 calculated with an inception date of February 1, 2003.

Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index. The Russell Midcap Growth Index measures the performance of those Russell Midcap companies with higher price to-book ratios and higher forecasted growth values. The Russell Midcap measures the performance of the 800 smallest companies in the Russell 1000 Index, which represent approximately 25% of the total market capitalization of the Russell 1000 Index.

The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only and should not be considered investment advice.

The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed do not represent an account’s entire portfolio and in the aggregate may represent only a small percentage of an account’s portfolio holdings.

It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein.

Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Russell/Mellon Analytical Services LLC and Calamos Advisors LLC.

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.

44601B

Strategy Vehicles

Separately Managed Accounts Minimum: $5 million

34601E

Fact Sheet The U.S. Mid Cap Growth Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.
Performance Review
Quarterly
Yearly
A discussion of the Calamos U.S. Mid Cap 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/Convertible Team biographies

Strategy Details




As of 03/31/13
Inception Date:
02/01/03
Strategy Assets*:
$315.8 M
Benchmark:
Russell Midcap Growth Index

Resources

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