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OPPORTUNISTIC VALUE

All Cap Value Name Change to Opportunistic Value

Effective March 1, 2014 the Calamos All Cap Value Strategy has changed its name to Opportunistic Value Strategy. Please click here to watch Jeff Miller, Senior Vice President, Co-Portfolio Manager discuss the reasons for the name change.

Strategy Objective

An actively managed strategy that seeks to offer a diversified portfolio of stocks that are undervalued according to certain financial measurements of their intrinsic value.

Key Differentiators
  • Opportunistic approach to generating absolute returns and managing downside risk and capital loss
  • Focus on sustainable profit margins and returns on invested capital; not simply valuations
  • Active focus on exploiting short term volatility in markets and individual securities

Strategy Details




As of 30/9/14
Inception Date:
01/5/07
Strategy Assets*:
$110.6 M
Benchmark:
Russell 1000 Value 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 30/9/14
% of Assets Russell 1000 Value Index Under/Overweight %
Financials 34.0% 29.1%
Energy 15.5 12.9
Health Care 13.3 13.5
Consumer Discretionary 12.1 6.2
Industrials 8.6 10.2
Information Technology 7.6 9.4
Consumer Staples 4.5 7.1
Materials 4.4 3.3
Telecommunication Services 0.0 2.3
Utilities 0.0 6.0
 

Representative Portfolio Ten Largest Holdings

AS OF 30/9/14
Company Sector %
Exxon Mobil Corp. Energy 4.0
Raytheon Company Industrials 3.8
Chevron Corp. Energy 3.7
JPMorgan Chase & Company Financials 3.6
Zions Bancorporation Financials 3.6
Goldman Sachs Group, Inc. Financials 3.2
Gap, Inc. Consumer Discretionary 3.1
Johnson & Johnson Health Care 3.0
Merck & Company, Inc. Health Care 3.0
Berkshire Hathaway, Inc. - Class B Financials 2.9

Characteristics

AS OF 30/9/14
  Calamos Portfolio Russell 1000 Value Index
Assets in Strategy $110.6 million N/A
# of Holdings 47 690
Portfolio Turnover % (5-Year) 133.7% N/A
Median Market Cap ($bil) $33.9 $6.9
Weighted Average Market Cap ($bil) $118.4 $111.5
ROIC % 13.8% 11.8%
Debt/Capital % 40.8% 36.5%
PEG Ratio (1 year forward) 1.8x 2.1x

Annualized Total Returns

AS OF 30/9/14
1-Year3-Year5-YearSince Inception (5/07)
Opportunistic Value (Gross)11.48%20.70%13.03%8.26%
Opportunistic Value (Net)10.39%19.52%11.92%7.19%
Russell 1000 Value Index18.89%23.93%15.26%4.67%

Calendar Year Returns

AS OF 30/9/14
                           Qtr ending Sep 14YTD 20142013201220112010200920085/1/2007 to 12/31/2007
Opportunistic Value (Gross)-0.51%2.99%33.50%13.41%-2.93%16.93%32.32%-26.38%4.51%
Opportunistic Value (Net)-0.76%2.23%32.20%12.30%-3.89%15.78%31.04%-27.13%3.82%
Russell 1000 Value Index-0.19%8.07%32.53%17.51%0.39%15.51%19.69%-36.85%-4.91%



Risk/Reward Since Inception

AS OF 30/9/14
  Calamos Opportunistic Value Composite Russell 1000 Value Index
Alpha 3.79% N/A
Beta 0.90 1.00
Standard Deviation 16.81% 17.53%
Upside Semivariance 13.64% 12.27%
Downside Semivariance 10.54% 13.62%
Sharpe Ratio 0.45 0.23
Information Ratio 0.54 N/A

Since Inception Up/Down Capture Vs. Russell 1000 Value Index

AS OF 30/9/14

Strategy Vehicles and Minimums

Separately Managed Accounts Minimum: $5 million
Institutional Mutual Fund (CMNIX) Minimum $1 million

34601E

Fact Sheet The Opportunistic Value Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.
Opportunistic Value Strategy Performance Review A quarterly discussion of the Calamos Opportunistic Value Strategy’s performance versus a benchmark, positioning, related market commentary, and outlook.
The Calamos Approach To Value The Calamos Approach To Value
Investment Team View the Value Team biographies