An Innovative Approach to Total Return and Diversification

Calamos Market Neutral Income Fund

With a time-tested track record of high current income and total return—with reduced volatility compared to the stock market¹—Calamos Market Neutral Income Fund may be a compelling choice for a wide range of asset allocation needs.

In particular, the fund may be a valuable addition for investors seeking:

High current income. The investment management team uses complementary strategies to generate income from multiple sources. Accordingly, the fund may be a compelling alternative—or complement—to traditional fixed-income investments.
A conservative total return strategy. Since its inception, the fund has delivered returns comparable to the stock market, but with reduced volatility.
Enhanced diversification. With historically low correlation relative to other asset classes, the fund may help mitigate the overall volatility of an investment portfolio.
Access to investment strategies not widely available to individual investors. The fund provides a blend of strategies not broadly available to individual investors.

We invite you to learn more about Calamos Market Neutral Income Fund:

Proven Track Record

Class A Shares
Ticker Sybmol	CVSIX
CUSIP	128119203
Class B Shares
Ticker Sybmol	CAMNX
CUSIP	128119757
Class C Shares
Ticker Sybmol	CVSCX
CUSIP	128119849
Literature
View Fund Profile Fact Sheet Fund Highlights Full Prospectus
To learn more about the potential benefits of including Calamos Market Neutral Income Fund in your asset allocation, contact your financial advisor or call Calamos Investments at 800-582-6959.

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.

¹The market is represented by the S&P 500 Index. The S&P 500 Index is an unmanaged index generally considered representative of the U.S. stock market. The index is unmanaged; index returns assume reinvestment of any all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.

A Word About Risk:
Convertible Arbitrage. Convertible arbitrage entails risks associated with equity securities, short sales and fixed income securities, including convertible securities. Proper correlation must be used to provide a proper safeguard in hedging the risks inherent in the positions.

Short Sale Risk. The Fund engages in short sales of convertible securities' underlying stock, which may increase volatility and portfolio turnover. Short sale risk includes the risk of loss due to increase in the market value of borrowed securities between the date of short sale and the date the Fund replaces the security.

Convertible Bond Risk. In addition to market risk, there are certain other risks associated with an investment in a convertible bond, such as default risk (the risk that the company issuing debt securities will be unable to repay principal and interest) and interest rate risk (the risk that the security may decrease in value if interest rates increase).

Option Risk. As the writer of a covered call option on a security, the Fund foregoes, during the option's life, the opportunity to profit from increases in the market value of the security covering the call option above the sum of the premium and the exercise price of the call.

Liquidity and Marketplace Risk. Both convertible arbitrage and covered call writing often entail placing matching hedged positions through separate transactions in different marketplaces or exchanges. It is possible that, for a variety of reasons, one market may fail to provide the liquidity intended when the initial hedged or covered structure was initiated.

NOT FDIC INSURED NO BANK GUARANTEE MAY LOSE VALUE