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EMERGING MARKETS FUND (IE00B4QR1M12)

Currency Class GO

Portfolio Fit

Emerging markets are now a significant part of the world economy. The Emerging Markets Fund stands as a potential long-term strategic allocation to this vital area.

Key Features

The fund invests in global growth companies with an emphasis on revenue streams derived from emerging markets as opposed to country of domicile. The fund combines equities and convertible securities with the aim of managing the risk and return profile in an occasionally volatile space.

The Calamos Difference

  • Focus on risk management in an asset class with a history of volatility, with an emphasis on revenue streams over company domicile and the use of convertibles to manage equity risk
  • Stress company fundamentals, including global presence, strong revenue and earnings growth, solid returns on invested capital and lower debt-to-capital levels
  • Seek global growth companies, that may benefit from long-term secular themes in the emerging markets, including a burgeoning middle class and an increased demand for information and entertainment

Fund Objective

The fund seeks long-term capital growth.

Fund Benchmark

  • MSCI Emerging Markets Index

Investment Process

The fund's investment team employs an investment process that considers global macro economic factors and investment themes. The team conducts both fundamental and quantitative research to evaluate the source, sustainability and risk of investment opportunities. The team manages a diversified portfolio monitoring and managing risk at the portfolio and individual security level.

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
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. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Notes

Top Ten Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government/sovereign bonds or broad-based index hedging securities the portfolio may hold. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

10K performance is for the fund’s Class A shares at net asset value and does not include the fund’s maximum front-end sales charge of 4.75%. Had it been included, the fund’s return would have been lower. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An historic measure of a fund’s relative volatility, which is one of the measures of risk; a beta of 0.5 reflects 1/2 the market’s volatility as represented by the fund’s primary benchmark, while a beta of 2.0 reflects twice the volatility.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

Conversion Premium-The amount by which the market price of a convertible bond or convertible preferred exceeds conversion value, expressed as a percentage. It is a gauge of equity participation.

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

PEG Ratio-Represents a stock’s price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/Book Ratio-The stock’s capitalization divided by its book value.

Price/Earnings Ratio-The current stock price over trailing 12-month earnings per share.

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

Fund Details

As of 20/4/17
Inception Date:
15/2/11
Current NAV:
$9.19
$ Change:
$0.12
% Change:
+1.31%
Net Assets*:
9,729,512
(*Total USD Net Assets as of 31/3/17)

Resources

Annualised Total Returns

AS OF 31/3/17
Calamos3.51%6.39%-3.36%-1.01%-1.44%10.85%
MSCI Emerging2.55%17.65%1.55%1.17%0.43%11.49%

Calendar Year Total Returns

AS OF 31/3/17

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
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. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Notes

Top Ten Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government/sovereign bonds or broad-based index hedging securities the portfolio may hold. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

10K performance is for the fund’s Class A shares at net asset value and does not include the fund’s maximum front-end sales charge of 4.75%. Had it been included, the fund’s return would have been lower. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An historic measure of a fund’s relative volatility, which is one of the measures of risk; a beta of 0.5 reflects 1/2 the market’s volatility as represented by the fund’s primary benchmark, while a beta of 2.0 reflects twice the volatility.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

Conversion Premium-The amount by which the market price of a convertible bond or convertible preferred exceeds conversion value, expressed as a percentage. It is a gauge of equity participation.

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

PEG Ratio-Represents a stock’s price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/Book Ratio-The stock’s capitalization divided by its book value.

Price/Earnings Ratio-The current stock price over trailing 12-month earnings per share.

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

Sector Weightings

AS OF 31/3/17
% of Assets MSCI Emerging Markets Index
Information Technology 26.3% 24.5%
Financials 21.5% 24.1%
Consumer Discretionary 12.9% 10.4%
Industrials 8.1% 5.9%
Materials 6.5% 7.5%
Energy 6.2% 7.3%
Consumer Staples 4.3% 6.9%
Telecommunication Services 3.8% 5.6%
Health Care 3.1% 2.4%
Sovereign Bonds 1.1% 0.0%
Real Estate 0.8% 2.6%
Index Options 0.1% 0.0%
Utilities 0.0% 2.8%
Other 0.0% 0.0%

Asset Allocation

AS OF 31/3/17

Top 10 Holdings Adobe Logo View All Holdings

AS OF 31/3/17
Company Security Type Industry
%
Tencent Holdings, Ltd. Common Stock Internet Software & Services 4.6%
Samsung Electronics Co., Ltd. Common Stock Technology Hardware, Storage & Peripherals 4.0%
Taiwan Semiconductor Manufacturing Company, Ltd. Common Stock Semiconductors 3.9%
Alibaba Exchangeable (Softbank) Convertible Preferred Stock Internet Software & Services 3.5%
Ctrip.com International, Ltd. Convertible Bonds Internet & Direct Marketing Retail 3.0%
Indiabulls Housing Finance, Ltd. Common Stock Thrifts & Mortgage Finance 2.4%
Telenor East Holding II AS Convertible Bonds Wireless Telecommunication Services 2.3%
Itau Unibanco Holding, SA Common Stock Diversified Banks 2.2%
Vakrangee, Ltd. Common Stock Data Processing & Outsourced Services 2.2%
Larsen & Toubro, Ltd. Common Stock Construction & Engineering 1.7%
Total 29.8%

Fund Facts

AS OF 31/3/17


Fund MSCI Emerging Markets Index
Total Net Assets $9.7 million --
# of Holdings 90 830
Duration 2.3 years --
Median Investment Premium 20.3% --
Median Conversion Premium 26.6% --
EPS Growth (5 Year) 19.7% 16.7%
Price/Book 2.2x 1.4x
Price/Earnings 16.8x 13.8x
Price/Sales 0.7x 0.7x
PEG Ratio 1.1x 1.3x
Debt/Capital 28.0% 27.7%
ROIC 20.5% 16.4%
Portfolio Turnover (12 months) 117.9% --

Market Capitalization

AS OF 31/3/17
> $94bil 20.5%
$27bil - $94bil 25.6%
$9bil - $27bil 24.7%
$3bil - $9bil 15.0%
< $3bil 14.2%

Regional Exposure

AS OF 31/3/17
Asia/Pacific 64.3%
Latin America 12.0%
Europe 11.0%
Middle East/Africa 4.7%
North America 2.5%

Country Exposure

AS OF 31/3/17
China 22.0%
India 16.8%
South Korea 9.5%
Brazil 7.8%
Taiwan 4.6%
Hong Kong 4.6%
Russia 4.2%
South Africa 3.9%
Mexico 3.3%
Indonesia 2.7%

Currency Exposure

AS OF 31/3/17
United States Dollar (USD) 26.0%
Hong Kong Dollar (HKD) 18.4%
Indian Rupee (INR) 17.7%
South Korean WON (KRW) 10.0%
Taiwan Dollar (TWD) 5.8%
South African Rand (ZAR) 4.2%
Brazilian Real (BRL) 3.9%
Indonesian Rupiah (IDR) 2.9%
Euro (EUR) 2.3%
Thai Bahat (THB) 2.0%
Mexican Peso (MXN) 2.0%
Japanese Yen (JPY) 0.9%
Malaysian Ringgit (MYR) 0.8%
Utd Arab Emirates Dirham (AED) 0.8%
British Pound Sterling (GBP) 0.7%
Philippines Peso (PHP) 0.6%
Polish Zloty (PLN) 0.5%
Turkish New Lira (TRY) 0.5%
Russian Ruble (RUB) 0.0%
Chilean Peso (CLP) 0.0%
Qatari Riyal (QAR) 0.0%
Colombian Peso (COP) 0.0%
Hungarian Forint (HUF) 0.0%
Czech Koruna (CZK) 0.0%
Egyptian Pound (EGP) 0.0%

Credit Quality of Bonds

AS OF 31/3/17
AAA 0.0%
AA 0.0%
A 22.5%
BBB 8.7%
BB 27.2%
B 32.4%
CCC and below 9.2%
Unrated Securities 0.0%

Maturity Schedule

AS OF 31/3/17
Equities & Other 83.0%
1 To 5 Years 9.8%
< 1 Year 6.7%
5 To 10 Years 0.5%
10 To 20 Years 0.0%
20 To 30 Years 0.0%
> 30 Years 0.0%

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
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. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Notes

Top Ten Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government/sovereign bonds or broad-based index hedging securities the portfolio may hold. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

10K performance is for the fund’s Class A shares at net asset value and does not include the fund’s maximum front-end sales charge of 4.75%. Had it been included, the fund’s return would have been lower. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An historic measure of a fund’s relative volatility, which is one of the measures of risk; a beta of 0.5 reflects 1/2 the market’s volatility as represented by the fund’s primary benchmark, while a beta of 2.0 reflects twice the volatility.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

Conversion Premium-The amount by which the market price of a convertible bond or convertible preferred exceeds conversion value, expressed as a percentage. It is a gauge of equity participation.

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

PEG Ratio-Represents a stock’s price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/Book Ratio-The stock’s capitalization divided by its book value.

Price/Earnings Ratio-The current stock price over trailing 12-month earnings per share.

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

Total Capital Gains

A distribution has not been paid since the Fund’s inception (15 February 2011).

Schedule

Distributions Annually
Capital Gains Annually

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
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. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Notes

Top Ten Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government/sovereign bonds or broad-based index hedging securities the portfolio may hold. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

10K performance is for the fund’s Class A shares at net asset value and does not include the fund’s maximum front-end sales charge of 4.75%. Had it been included, the fund’s return would have been lower. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An historic measure of a fund’s relative volatility, which is one of the measures of risk; a beta of 0.5 reflects 1/2 the market’s volatility as represented by the fund’s primary benchmark, while a beta of 2.0 reflects twice the volatility.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

Conversion Premium-The amount by which the market price of a convertible bond or convertible preferred exceeds conversion value, expressed as a percentage. It is a gauge of equity participation.

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

PEG Ratio-Represents a stock’s price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/Book Ratio-The stock’s capitalization divided by its book value.

Price/Earnings Ratio-The current stock price over trailing 12-month earnings per share.

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

Annual Expenses

A Shares C Shares I Shares
Total Expense Ratio2.003.001.35
Management Fee (% of NAV)1.651.651.00

Investment Information

A Shares C Shares I Shares
Minimum initial investment (£/€/$)2,5002,5001,000,000
Minimum subsequent investments (£/€/$)5050100,000

Fund Information

A Shares C Shares I Shares
Inception Date15/2/1110/4/1315/2/11
Bloomberg TickerCAEMAUA IDCAEMCUA IDCAEMIUA ID
CUSIP numberG17689301G17689335G17689368
ISIN numberIE00B4QR1M12IE00B537DN67IE00B52B2V09
SEDOL numberB4QR1M1B537DN6B52B2V0

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
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. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Notes

Top Ten Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government/sovereign bonds or broad-based index hedging securities the portfolio may hold. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

10K performance is for the fund’s Class A shares at net asset value and does not include the fund’s maximum front-end sales charge of 4.75%. Had it been included, the fund’s return would have been lower. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An historic measure of a fund’s relative volatility, which is one of the measures of risk; a beta of 0.5 reflects 1/2 the market’s volatility as represented by the fund’s primary benchmark, while a beta of 2.0 reflects twice the volatility.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

Conversion Premium-The amount by which the market price of a convertible bond or convertible preferred exceeds conversion value, expressed as a percentage. It is a gauge of equity participation.

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

PEG Ratio-Represents a stock’s price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/Book Ratio-The stock’s capitalization divided by its book value.

Price/Earnings Ratio-The current stock price over trailing 12-month earnings per share.

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.
Calamos Emerging Markets Fund UCIT Commentary
Monthly Commentary A discussion of the Emerging Markets Fund's performance versus a benchmark, positioning, related market commentary, and outlook.
Calamos Emerging Markets UCIT Fact Sheet English
Factsheet (Share Class A,C,I)
The Emerging Markets fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.
Calamos Emerging Markets UCIT Fact Sheet English
Factsheet (Share Class Z)
The Emerging Markets fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.
Calamos Evolving World Growth Fund  and the Power of “Small Ball”
Calamos Evolving World Growth Fund and the Power of “Small Ball”

Calamos Evolving World Growth Fund has delivered compelling results with a risk-managed, “small ball” approach to investing in emerging market equities, explains Portfolio Specialist Todd Speed.

Volatility and the Need for Active Management Sales Idea
Volatility and the Need for Active Management

While market volatility is near historic lows, we are in a longer term pattern of increased volatility, which further emphasizes the need for an actively managed, lower-volatility solution. Learn more about our current outlook on volatility and the role of active management.

International Growth Fund Paper | Calamos Investments
Case for International Growth over Value Remains Strong

At Calamos, we believe investors should favor growth over value, given fundamentals, valuations and secular opportunities.

Calamos UCITS Annual Report
Annual Report The annual report includes a letter from John P. Calamos, Sr., to shareholders outlining the fund performance as well as a comprehensive review of the fund’s activities and financial performance.
Calamos UCITS Semi- Annual Report
Semiannual Report
The semi-annual report includes a letter from John P. Calamos Sr., to shareholders, provides a comprehensive review of the fund’s activities and financial performance for a six month period.
Prospectus This prospectus sets forth concisely the information that you should know before investing. You should read the accompanying simplified prospectus, which contains important information, before deciding whether to invest in our securities.
Key Investor Information Documents (KIID) The key Investor Information Document (KIID) aims to provide investors with a transparent and concise overview of funds in a standard format.

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
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. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Notes

Top Ten Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government/sovereign bonds or broad-based index hedging securities the portfolio may hold. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

10K performance is for the fund’s Class A shares at net asset value and does not include the fund’s maximum front-end sales charge of 4.75%. Had it been included, the fund’s return would have been lower. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An historic measure of a fund’s relative volatility, which is one of the measures of risk; a beta of 0.5 reflects 1/2 the market’s volatility as represented by the fund’s primary benchmark, while a beta of 2.0 reflects twice the volatility.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

Conversion Premium-The amount by which the market price of a convertible bond or convertible preferred exceeds conversion value, expressed as a percentage. It is a gauge of equity participation.

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

PEG Ratio-Represents a stock’s price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/Book Ratio-The stock’s capitalization divided by its book value.

Price/Earnings Ratio-The current stock price over trailing 12-month earnings per share.

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.