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Calamos Government Money Market Fund
Objective
Fund Objective
Seeks maximum current income consistent with liquidity and stability of capital.
Investment Strategy
- Invests exclusively in U.S. Government obligations, including U.S. Treasury bills, notes, bonds, and other obligations issued or guaranteed by the U.S. Government, its agencies and instrumentalities, and repurchase agreements backed by such obligations
- Aims to take advantage of interest rate increases and preserve yield in interest rate decreases
- Seeks to maintain a net asset value (NAV) of $1.00 per share
- Maintains a dollar-weighted average portfolio maturity of 90 days or less
Investment Management Team
Day-to-day management of the portfolio is a team effort. Within the team, four senior members have primary and supervisory responsibility for the Fund. They are: Co-Chief Investment Officers John P. Calamos, Sr. and Nick P. Calamos, CFA; Director of Fixed Income Matthew Toms, CFA; and Senior Strategy Analyst Frank Rachwalski, CFA.
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AAAm STANDARD & POOR'S RATING
Aaa MOODY'S RATING |
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These ratings indicate Standard & Poor's and Moody's opinion that the Fund offers extremely strong capacity to maintain principal stability and to limit exposure to loss due to credit, market and/or liquidity risks. Standard & Poor's and Moody's Investors Service fund ratings represent opinions only, not a recommendation to buy or sell. |
Performance
YTD Return as of 10/10/08* 1.24%
Performance
YTD Return as of 10/10/08* 0.78%
Performance
YTD Return as of 10/10/08* 0.78%
Performance
YTD Return as of 10/10/08 2.08%
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Yield and return will vary.
Total return measures net investment income and capital gain or loss from portfolio investments for each period specified. All performance shown assumes reinvestment of dividends and capital gains distributions. Performance shown reflects an expense reimbursement that improved results. In the case of a money market fund, the yield quotation more closely reflects the current earnings of the fund than the total return quotation. The Fund's gross expense ratios are as follows: A 0.51%, B 1.26%, C 1.26%.
Composition as of 10/7/08
Fund Composition  View All Holdings |
| Total Net Assets |
$493,730,509.51 |
| % Maturity Within 7 Days |
38.73% |
| Asset Allocation |
| U.S. Government Agencies |
35.27% |
| Other - Floating Rate U.S. Government / Agencies |
59.58% |
| Repurchase Agreements |
5.15% |
Fund Information
| Inception Date |
March 3, 2008 |
| Benchmark |
30-Day U.S. Treasury Bill |
| Distributions |
Monthly |
| Ratings |
AAAm (S& P1); Aaa(Moody's2) |
| Redemptions Cutoff Time3 |
3:00 p.m. ET |
| Purchases Cutoff Time4 |
4:00 p.m. ET |
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A Shares |
B Shares |
C Shares |
| CUSIP Number |
128119252 |
128119245 |
128119237 |
| Nasdaq Symbol |
CVAXX |
CVBXX |
CVCXX |
| Investor Requirements |
Can be purchased directly or through an exchange of Class A shares of another fund in the Calamos Family of Funds or the Prime Obligations Fund. |
Class B shares of the Fund are available only in exchange for Class B shares of another fund in the Calamos Family of Funds or the Prime Obligations Fund, or in establishing a systematic exchange program used to purchase Class B shares of other funds in the Calamos Family of Funds. |
Class C shares of the Fund are available only in exchange for Class C shares of another fund in the Calamos Family of Funds or the Prime Obligations Fund, or in establishing a systematic exchange program used to purchase Class C shares of other funds in the Calamos Family of Funds. |
| Minimum Initial Investment |
$2,500 |
No direct purchase |
No direct purchase |
| Minimum Subsequent Investment |
$50 |
No direct purchase |
No direct purchase |
| Maximum Sales Charge |
None5 |
5.00%6 |
1.00%6 |
| Total Annual Operating Expenses7 |
0.51% |
1.26% |
1.26% |
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1The Fund has received a rating of AAAm from Standard & Poor's. This rating indicates S&P's opinion that the Fund offers extremely strong capacity to maintain principal stability and to limit exposure to loss due to credit, market and/or liquidity risks. Standard & Poor's Fund Ratings represent opinion only, not a recommendation to buy or sell.
2Moody's money market fund rating of Aaa in the U.S.
3If your redemption order is received at or after 3:00 p.m. and before 4:00 p.m. Eastern time, your redemption order will be processed at that day's NAV and you will receive that day's dividend. If your redemption order is received before 3:00 p.m., you will not receive that day's dividend.
4Generally, if you place your order by 4:00 p.m. Eastern time, you will receive that day's offering price.
5For Class A shares, the sales load will not be charged until the investor exchanges out of the Government Money Market Fund into another Calamos fund. However, Class A shares have a 0.25% distribution and/or service (12b-1) fee.
6The contingent deferred sales charge imposed when you redeem your Class B or Class C shares will be based on the date you purchased shares of the original fund. The CDSC on Class B shares declines over the years you own the shares, and terminates completely after six years of ownership. Class B shares automatically convert to Class A shares, which means lower annual expenses from the ninth year on. If you redeem your Class C shares within 12 months of the date that they were originally purchased or, if they were received in exchange for Class C shares of another fund, the date that those original shares were purchased, you will be assessed a CDSC of 1.00%. Class C shares have a lower CDSC than Class B shares, but Class C shares do not convert to Class A shares.
7Calamos Advisors has contractually agreed to reimburse Fund expenses through February 28, 2009, to the extent necessary so that Total Annual Operating Expenses after any such reimbursement do not exceed 0.52% for Class A shares and 1.27% for Class B shares or Class C shares. After such date, the expense limitation may be terminated or revised. |
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Fund Snapshot Class A
| Data as of 10/10/08 |
| Total Net Assets |
$32.0 M |
| Daily Yield |
2.17% |
| SEC 7-Day Yield |
2.05% |
| Compound 7-Day |
2.07% |
| SEC 30-Day Yield |
1.97%
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| Compound 30-Day |
1.99%
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| Average Days to Maturity |
58 |
| Daily Factor |
0.000054452 |
See Notes  |
| Literature |
Fund Snapshot Class B
| Data as of 10/10/08 |
| Total Net Assets |
$22.1 M |
| Daily Yield |
1.42% |
| SEC 7-Day Yield |
1.30% |
| Compound 7-Day |
1.31% |
| SEC 30-Day Yield |
1.23%
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| Compound 30-Day |
1.23%
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| Average Days to Maturity |
58 |
| Daily Factor |
0.00003396 |
| See Notes |
| Literature |
Fund Snapshot Class C
| Data as of 10/10/08 |
| Total Net Assets |
$26.5 M |
| Daily Yield |
1.42% |
| SEC 7-Day Yield |
1.30% |
| Compound 7-Day |
1.31% |
| SEC 30-Day Yield |
1.23%
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| Compound 30-Day |
1.23%
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| Average Days to Maturity |
58 |
| Daily Factor |
0.00003396 |
| See Notes |
| Literature |
Fund Snapshot Class I
| Data as of 10/10/08 |
| Total Net Assets |
$561.9 M |
| Daily Yield |
2.42% |
| SEC 7-Day Yield |
2.30% |
| Compound 7-Day |
2.33% |
| SEC 30-Day Yield |
2.22%
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| Compound 30-Day |
2.25%
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| Average Days to Maturity |
58 |
| Daily Factor |
0.000061283 |
| See Notes |
| Literature |
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Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus containing this and other information or call 800-582-6959. Read it carefully.
Important Fund Information
An investment in the Government Money Market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, this share price is not guaranteed and you could lose money by investing in the Fund.
NOTES
SEC 7-day Yield and SEC 30-day Yield—Represent net investment income earned by the Fund over a 7-day period and 30-day period, respectively, expressed as an annual percentage rate based on the Fund's share price at the end of the respective 7-day or 30-day periods. The SEC Yield should be regarded as an estimate of the Fund's rate of investment income, and it may not equal the Fund's actual income distribution rate, the income paid to a shareholder's account, or the income reported in the Fund's financial statements.
Compound (Effective) 7-day and 30-day Yields—Calculated similarly, although these figures are slightly higher than the Fund's 7-day and 30-day SEC Yields because of the effects of compounding. The 7-day and 30-day Compound Effective Yields assume that income earned from the Fund's investments is reinvested and generating additional income.
Calamos Financial Services LLC, Distributor
5316
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