Institutional Strategies Main

GLOBAL GROWTH

Strategy Objective

A global all-cap growth equity strategy that invests in the common stocks of global growth companies and seeks to outperform the MSCI ACWI Growth 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 09/30/14
Inception Date:
04/01/07
Strategy Assets*:
$353.3 M
Benchmark:
MSCI ACWI Growth

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 09/30/14
% of Assets MSCI ACWI Growth Under/Overweight %
Information Technology 29.9% 18.8%
Consumer Discretionary 17.5 17.4
Financials 13.3 12.7
Health Care 11.9 13.2
Industrials 11.2 12.8
Consumer Staples 6.8 11.5
Energy 5.5 6.1
Materials 2.2 5.1
Telecommunication Services 1.7 1.7
Utilities 0.0 0.7
 

Representative Portfolio Ten Largest Holdings

AS OF 09/30/14
Company Country Sector %
Pandora, A/S Denmark Consumer Discretionary 3.7
Apple, Inc. United States Information Technology 3.6
Google, Inc. - Class A United States Information Technology 3.2
Schlumberger, Ltd. United States Energy 2.3
Novo Nordisk, A/S - Class B Denmark Health Care 2.3
FANUC Corp. Japan Industrials 2.3
Facebook, Inc. - Class A United States Information Technology 2.3
LinkedIn Corp. - Class A United States Information Technology 2.2
Google, Inc. - Class C United States Information Technology 2.2
Naspers, Ltd. - Class N South Africa Consumer Discretionary 2.1

Characteristics

AS OF 09/30/14
  Calamos Portfolio MSCI ACWI Growth
Assets in Strategy $353.3 million N/A
# of Holdings 93 1,444
Portfolio Turnover
%(Since Inception)
N/A N/A
Median Market Cap ($bil) $30.5 $9.0
Weighted Average Market Cap ($bil) $99.1 $85.4
ROIC % 24.4% 17.6%
Debt/Capital % 22.9% 34.5%
PEG Ratio (1 year forward) 1.4x 1.7x

Largest Country Weightings

AS OF 09/30/14
Representative Portfolio MSCI ACWI Growth
United States 54.1% 49.2%
Denmark 5.9% 0.9%
Japan 5.4% 7.4%
United Kingdom 4.2% 6.5%
Canada 3.7% 3.5%
France 3.6% 3.0%
Taiwan 3.6% 1.2%
Hong Kong 2.6% 1.5%
China 2.2% 1.6%
Netherlands 2.2% 1.4%

Global Summary

AS OF 09/30/14
Representative Portfolio MSCI ACWI Growth
Developed Markets 87.4% 0.0%
Emerging Markets 12.6% 0.0%

Composite Summary

AS OF 09/30/14
Period Ending Composite Assets (in Millions) Total Assets (in Millions) % Of Total Assets Managed # Of Clients Average Acct. Size (in Millions)
12/31/2012 632 30,580 2.1% 3 211
12/31/2011 186 32,777 0.6% 2 93
12/31/2010 177 35,414 0.5% 3 59
12/31/2009 109 32,144 0.3% 4 27
12/31/2008 36 23,522 0.2% 2 18
12/31/2007 107 46,208 0.2% 1 107

44605C

Annualized Total Returns

AS OF 09/30/14
1-Year3-Year5-YearSince Inception (4/07)
Global Growth (Gross)10.74%14.51%13.80%8.43%
Global Growth (Net)9.54%13.20%12.61%7.27%
MSCI ACWI Growth11.71%17.31%11.45%5.13%

Calendar Year Returns

AS OF 09/30/14
                           Qtr ending Sep 14YTD 20142013201220112010200920084/1/2007 to 12/31/2007
Global Growth (Gross)-2.11%1.34%21.01%14.35%-0.78%26.62%57.33%-45.03%20.41%
Global Growth (Net)-2.37%0.51%19.61%12.99%-1.74%25.50%55.91%-45.74%19.51%
MSCI ACWI Growth-1.64%3.91%23.62%17.17%-7.04%15.49%38.10%-42.71%13.81%



44605B

Risk/Reward Since Inception

AS OF 09/30/14
  Calamos Global Growth Composite MSCI ACWI Growth
Alpha 3.12% N/A
Beta 1.04 1.00
Standard Deviation 19.82% 18.42%
Upside Semivariance 18.21% 13.52%
Downside Semivariance 15.24% 15.07%
Sharpe Ratio 0.39 0.24
Information Ratio 0.66 N/A

Since Inception Up/Down Capture Vs. MSCI ACWI Growth

AS OF 09/30/14

44605B

Strategy Vehicles

Separately Managed Accounts Minimum: $25 million
Commingled Pool $1 million
Available for both qualified and non-qualified plans.
Institutional Mutual Fund (CIGEX) Minimum $1 million

34605E

Fact Sheet The Global Growth Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.
Performance Review A discussion of the Calamos Global Growth Strategy’s performance versus a benchmark, positioning, related market commentary, and outlook.
Finding Growth Opportunities Around the World A discussion of the Calamos Global Growth strategy which has historically provided a focus on high-quality growth companies; diversification across sectors and global markets; and strong excess returns versus the MSCI ACWI Growth Index.
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 Equity/Fixed Income Team biographies