Calamos Global Equity Team’s 1Q Outlook: Global Tailwinds Strengthen
Read about our team’s favorable outlook on global equity markets based on a backdrop of tremendous monetary and fiscal support, U.S. dollar weakness, and an expectation that the health crisis is nearing an end.
Global Equity: Diversified Emerging Mkts
CNWIX
Evolving World Growth Fund
5 Stars
Among 695 Diversified Emerging Mkts funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 5 stars for 3 years, 4 stars for 5 years and 5 stars for 10 years out of 695, 594 and 281 Diversified Emerging Mkts Funds, respectively, for the period ended 1/31/2021.
The fund offers an active, risk-managed strategy to access growth opportunities in emerging markets. The fund invests in emerging market-domiciled and developed market-domiciled companies with significant revenue exposures attributable to emerging markets.
Global Equity: World Allocation
CGCIX
Global Growth and Income Fund
5 Stars
Among 399 World Allocation funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 5 stars for 3 years, 5 stars for 5 years and 5 stars for 10 years out of 399, 345 and 209 World Allocation Funds, respectively, for the period ended 1/31/2021.
The fund invests primarily in global equity and convertible securities in an attempt to balance risk/reward while providing growth and income.
U.S. Equity: U.S. Equities and Convertibles
CGIIX
Growth and Income Fund
5 Stars
Among 304 Allocation--70% to 85% Equity funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 5 stars for 3 years, 5 stars for 5 years and 4 stars for 10 years out of 304, 274 and 186 Allocation--70% to 85% Equity Funds, respectively, for the period ended 1/31/2021.
The fund invests primarily in U.S. equity and convertible securities in an attempt to balance risk/reward while providing growth and income.
Alternative: Options-based
CIHEX
Hedged Equity Fund
5 Stars
Among 113 Options-based funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 4 stars for 3 years and 5 stars for 5 years out of 113 and 70 Options-based Funds, respectively, for the period ended 1/31/2021.
Aims to achieve the total return of equity markets with lower volatility. It utilizes a covered call strategy, which invests in a diversified portfolio of equities while using options to generate income and manage risk.
Global Equity: Foreign Large Growth
CIGIX
International Growth Fund
4 Stars
Among 389 Foreign Large Growth funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 4 stars for 3 years, 4 stars for 5 years and 4 stars for 10 years out of 389, 317 and 229 Foreign Large Growth Funds, respectively, for the period ended 1/31/2021.
The fund offers a dynamic approach to accessing international growth opportunities. We apply our active investment approach to build a portfolio of companies with superior growth and quality attributes across developed and emerging markets.
Alternative: Market Neutral
CMNIX
Market Neutral Income Fund
5 Stars
Among 94 Market Neutral funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 4 stars for 3 years, 4 stars for 5 years and 5 stars for 10 years out of 94, 72 and 23 Market Neutral Funds, respectively, for the period ended 1/31/2021.
Core market strategies include covered call writing and convertible arbitrage. Together, these strategies are intended to provide the fund with an enhanced potential for risk-managed returns due to their differing responses to volatility.
U.S. Equity: Small Growth
CTSIX
Timpani Small Cap Growth Fund
4 Stars
Among 574 Small Growth funds. The Fund's risk-adjusted returns based on load-waived Class I Shares had 4 stars for 3 years and 4 stars for 5 years out of 574 and 503 Small Growth Funds, respectively, for the period ended 1/31/2021.
The Fund invests in the equity securities of small capitalization companies with high, sustainable growth potential, which may exceed market expectations.
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$CPZ’s NAV performance YTD has beaten the S&P 500, VXAO and MSCI World indexes bit.ly/37NAN5C #activemanagement #closedendfunds
On the Blogs
Investment Ideas
CPZ’s NAV Performance YTD Has Beaten the S&P 500, VXA0 and MSCI World Indexes
February 26, 2021
CPZ offers risk-managed equity exposure in global stock markets, and its active asset allocation allows for investments in income-producing securities, such as preferred stock and high yield bonds, to support monthly distributions.
Investment Team Voices
Setting Out the Bullish Case for China
February 18, 2021
China’s growth story provides abundant potential for the Calamos global and international portfolios. Economic fundamentals, strategic policies, a weak dollar and a range of cyclical and secular tailwinds support the bullish case for Chinese equities.
Featured Newsletters
All About Convertible Securities
Our Convertible Securities: Structures, Valuation, Market Environment and Asset Allocation guide is a resource on how convertible bonds work. It’s written by Calamos Founder, Chairman and Global Chief Investment Officer John P. Calamos, Sr.
The Morningstar Market Neutral Category represents funds that attempt to eliminate the risks of the market by holding 50% of assets in long positions in stocks and 50% of assets in short positions.
Morningstar Options-Based Category represents funds that generate a significant portion of their returns from the collection of premiums on options contracts sold.
Morningstar Allocation—70% to 85% Equity funds seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds and cash. These portfolios are dominated by domestic holdings and have equity exposures between 70% and 85%.
The Morningstar Diversified Emerging Markets Category is comprised of funds with at least 50% of assets invested in emerging markets.
Morningstar World Allocation Category funds seek to provide both capital appreciation and income by investing in three major areas: stocks, bonds, and cash. While these portfolios do explore the whole world, most of them focus on the U.S., Canada, Japan, and the larger markets in Europe. It is rare for such portfolios to invest more than 10% of their assets in emerging markets.
Morningstar Foreign Large Growth Category focuses on high-priced growth stocks, mainly outside of the United States. Most of these portfolios divide their assets among a dozen or more developed markets, including Japan, Britain, France, and Germany. These portfolios typically will have less than 20% of assets invested in U.S. stocks.
Morningstar Small Growth Category funds focus on faster-growing companies whose shares are at the lower end of the market-capitalization range. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields).