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Calamos Blue Chip Fund
Class A Shares (CBCAX)
Objective
Fund Objective
Long-term capital growth
Investment Strategy
- Invests in larger, established companies with balance sheet strength, which can help mitigate downside risk
- Applies proprietary models to determine the return potential of both growth and value companies, favoring either style based on bottom-up analysis and a top-down overlay of macro-economic themes
- Includes companies in the S&P 500 Index and Dow Jones Industrial Average with at least $2 billion in market capitalization that possess blue chip characteristics
- Seeks businesses with diversified product lines that can increase productivity to maintain growth
- Aims to invest in a diversified mix of what we believe to be the best opportunities at any point in the economic cycle
Investor Profile
This Fund may be suitable for investors who seek:
- A vehicle for building assets to meet medium-range to long-range financial goals
- A larger-cap core offering of diversified companies providing broad market participation
Investment Management Team
- Collectively represents decades of experience in the investment industry
- Follows a one-team, one-process approach in constructing portfolios
- Leverages the expertise of dozens of investment professionals
- John P. Calamos, Sr. and Nick P. Calamos, who have managed the Fund since inception, have experience in the investment industry dating back to 1970 and 1983, respectively
Dynamic Allocation Among Growth and Value Styles
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Universe of Stocks |
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What is Value?
Value stocks are those that, in the manager's opinion are trading at a discount to their intrinsic values. |
Value |
Growth |
What is Growth?
Growth stocks are those that, in the manager's opinion, possess rapidly growing and sustainable characteristics that are not fully accounted for in their prices. |
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Calamos Blue Chip Fund seeks stocks which are significantly undervalued and possess potential catalysts to return them to a normal rate of growth. |
Calamos Blue Chip Fund also seeks stocks which are appreciating rapidly and can be supported by the firm's balance sheet. |
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Using active portfolio management, we strive to outperform the
S&P 500 Index during all phases of the market cycle. |
Performance
YTD Return as of 7/23/08 -11.08%
| Month–End Performance as of 6/30/08 |
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Annualized Total Return |
| 1-Year |
3-Year |
5-Year |
10-Year |
Since Inception |
| NAV |
-9.32% |
4.34% |
-- |
-- |
5.11% |
| Load-Adjusted |
-13.65% |
2.67% |
-- |
-- |
3.99% |
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and investment return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost.
Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average. All performance shown assumes reinvestment of dividends and capital gains distributions. Class A shares load-adjusted returns are adjusted for the maximum front-end sales load of 4.75%. The Funds also offer Class B and C shares, the performance of which may vary. Performance shown reflects an expense reimbursement that improved results.
The Fund's gross expense ratio is 1.45% as of 10/31/07.
How $10,000 Grew December 1, 2003 - June 30, 2008
The chart below shows how a hypothetical $10,000 investment in the Fund performed versus the indices since the Fund's inception.
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. Source: State Street Corporation and Lipper, Inc. Index data shown is from 11/30/03, since comparative index data is only available for full monthly periods.
See Notes 
| Calendar Year Returns - A Shares at NAV |
| CALENDAR 2007 |
CALENDAR 2006 |
CALENDAR 2005 |
CALENDAR 2004 |
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| 9.07% |
11.76% |
6.06% |
9.94% |
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Calendar year returns measure net investment income and capital gain or loss from portfolio investments for each period specified.
| DISTRIBUTIONS PREVIOUS 4 YEARS - A SHARES |
| 2004 |
Income
Cap Gains |
0.00990
0.00000 |
| 2005 |
Income
Cap Gains |
0.00000
0.00000 |
| 2006 |
Income
Cap Gains |
0.04020
0.03777 |
| 2007 |
Income
Cap Gains |
0.03090
0.89420 |
 View all Funds' Quarterly Distributions
Composition as of 6/30/08
Fund Composition  View All Holdings |
| Number of Holdings |
102 |
| Total Net Assets |
$137,997,671 |
| Turnover (12 mos.) |
49.6% |
| Annualized Standard Deviation (12/31/03) |
9.74% |
| Beta (12/31/03) vs. S&P 500 |
1.03 |
See Notes
| Asset Allocation* |
| Common Stock |
98.7% |
| Cash and Receivables/Payables |
1.3% |
| US Government Securities |
0.0% |
| Warrants |
0.0% |
| Convertible Preferred Stock |
0.0% |
| Convertible Bonds |
0.0% |
| Corporate Bonds |
0.0% |
| Options |
0.0% |
| Preferred Stock |
0.0% |
| Other |
0.0% |
| Sector Weightings* |
| Information Technology |
23.8% |
| Energy |
14.5% |
| Health Care |
14.3% |
| Financials |
14.3% |
| Industrials |
13.3% |
| Consumer Staples |
7.3% |
| Consumer Discretionary |
4.8% |
| Telecommunication Services |
3.0% |
| Materials |
2.0% |
| Utilities |
1.4% |
| Top 10 Holdings* |
| Exxon Mobil Corp. |
3.4% |
| General Electric Company |
3.1% |
| Johnson & Johnson |
2.8% |
| Microsoft Corp. |
2.8% |
| Apple, Inc. |
2.4% |
| AT&T, Inc. |
2.4% |
| International Business Machines Corp. |
2.1% |
| ConocoPhillips |
2.0% |
| Intel Corp. |
2.0% |
| Oracle Corp. |
1.9% |
| Total |
24.9% |
| Market Capitalization of Equities* |
| Small Cap (2 & Below) |
0.0% |
| Medium/Small Cap (2 - 5) |
0.0% |
| Medium Cap (5 - 17) |
10.2% |
| Medium/Large Cap (17 - 55) |
35.9% |
| Large Cap (55 & Above) |
53.9% |
| Median Market Cap |
$41,908,692,000 |
| Weighted Average Market Cap |
$100,145,448,178 |
* The portfolio is actively managed. Holdings and weightings are subject to change daily. Holdings are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned. Fund composition weightings are based on net assets.
† Companies are classified geographically according to their country of incorporation.
Fund Information
| Fund Information |
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A Shares |
B Shares |
C Shares |
| Inception date |
12/1/03 |
12/1/03 |
12/1/03 |
| Ticker symbol |
CBCAX |
CBCBX |
CBXCX |
| CUSIP number |
128119625 |
128119617 |
128119591 |
| Minimum initial investment |
$2,500 |
$2,500 |
$2,500 |
| Minimum subsequent investments |
$50 |
$50 |
$50 |
| IRA initial investment |
$500 |
$500 |
$500 |
| Sales load |
Front-end |
Back-end |
Level-load |
| Maximum Sales Charge |
4.75% |
5.00% |
1.00% |
| Distributions |
Annual dividends; annual capital gains |
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Fund Snapshot
| Class A Shares |
| Inception Date |
12/1/03 |
| Ticker Symbol |
CBCAX |
| CUSIP |
128119625 |
| Daily Prices as of 7/23/08 |
| NAV |
11.80 |
| NAV Change |
0.05 |
| See Notes |
| | Distributions |
|---|
| Dividends | Annual | | Capital Gains | Annual |
| 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.
NOT FDIC INSURED  NO BANK GUARANTEE MAY LOSE VALUE
Calamos Financial Services LLC, Distributor
Important Fund Information
The Fund may invest up to 25% of its assets in the securities of foreign issuers. As a result of political or economic instability in foreign countries, there can be special risks associated with investing foreign securities, including fluctuations in currency exchange rates, increased price volatility, and difficulty obtaining information.
NOTES
Annualized Standard Deviation—A statistical measure of the historical volatility of a mutual fund or portfolio, usually computed using 36 monthly returns. More generally, a measure of the extent to which numbers are spread around their average.
Beta—Is a 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 S&P 500 Index, while a beta of 2.0 reflects twice the market's volatility.
S&P 500 Index—Is generally considered representative of the U.S. stock market.
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.
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