Institutional Strategies Main


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 12/31/17
Inception Date:
Strategy Assets*:
$17.7 M
MSCI Emerging Markets


Sector Weightings

AS OF 12/31/17
% of Assets MSCI Emerging Markets Under/Overweight %
Information Technology 28.4% 27.5%
Financials 26.5 23.5
Consumer Discretionary 15.4 10.2
Consumer Staples 7.1 6.6
Materials 6.6 7.4
Energy 5.5 6.8
Industrials 4.8 5.3
Real Estate 2.8 2.8
Telecom Services 2.2 4.8
Health Care 0.7 2.7

Representative Portfolio Ten Largest Holdings

AS OF 12/31/17
Company Country Sector %
Alibaba Group Holding, Ltd. China Information Technology 5.8
Tencent Holdings, Ltd. China Information Technology 5.2
Taiwan Semiconductor Mfg Co. Taiwan Information Technology 3.9
Samsung Electronics Company South Korea Information Technology 3.2
Naspers, Ltd. - Class N South Africa Consumer Discretionary 3.0
Ishares Msci India Etf United States Other 2.9
Sberbank Of Russia Pjsc Russia Financials 2.8
Ping An Insurance Group Company China Financials 2.6
Indiabulls Housing Finance, Ltd. India Financials 2.5
New Oriental Education & Technology Group, Inc. China Consumer Discretionary 2.1


AS OF 12/31/17
  Calamos Portfolio MSCI Emerging Markets
Assets in Strategy $17.7 million N/A
# of Holdings 86 846
Portfolio Turnover % (12-Month) 74.4% N/A
Median Market Cap ($bil) $26.8 $6.3
Weighted Average Market Cap ($bil) $107.6 $93.1
ROIC % 22.7% 18.9%
Debt/Capital % 28.1% 27.1%
PEG Ratio (1 year forward) 1.2x 1.3x

Regional Exposure

AS OF 12/31/17
Region %
Asia/Pacific 70.5%
Latin America 10.0%
Europe 8.8%
Middle East/Africa 6.4%
North America 4.3%

Annualized Total Returns

AS OF 12/31/17
1-Year3-YearSince Inception (12/13)
Emerging Market Equity (Gross)41.20%7.42%4.33%
Emerging Market Equity (Net)39.70%6.26%3.21%
MSCI Emerging Markets37.75%9.50%6.03%

Calendar Year Returns

AS OF 12/31/17
                           Qtr Ending Dec 17201720162015201412/01/2013 to 12/31/2013
Emerging Market Equity (Gross)6.26%41.20%-0.15%-12.07%-5.47%1.50%
Emerging Market Equity (Net)5.98%39.70%-1.24%-13.04%-6.48%1.41%
MSCI Emerging Markets7.50%37.75%11.60%-14.60%-1.82%-1.44%

Risk/Reward Since Inception

AS OF 12/31/17
  Calamos Emerging Market Equity Composite MSCI Emerging Markets
Alpha -0.91% N/A
Beta 0.88 1.00
Standard Deviation 14.06% 14.91%
Upside Semivariance 8.84% 10.75%
Downside Semivariance 7.48% 7.73%
Sharpe Ratio 0.2883 0.3857
Information Ratio -0.3241 N/A

Since Inception Up/Down Capture Vs. MSCI Emerging Markets

AS OF 12/31/17 80.92 = Upside
89.75 = Downside

* 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


Emerging Market Equity Institutional Strategy Fact Sheet
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.
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Emerging Market Equity Strategy Performance Review Thumbnail
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.
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