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Global Growth and Income Fund (CVLOX)

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Fund Details

As of 11/13/18
Inception Date:
9/9/96
Current NAV:
$8.97
$ Change:
$0.00
% Change:
0.00%
Net Assets*
208.4 mil
(*Total Net Assets as of 9/30/18)

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Overview

The fund invests primarily in global equity and convertible securities in an attempt to balance risk and reward while providing growth and income.

Key Features

  • Combining equity and convertible holdings, aiming to limit downside risk while potentially capturing upside equity participation
  • Provide a core holding option that aims to maintain a consistent risk posture throughout the market cycle
  • Seeks to participate in the upside movements of the global equity market while lessening the damage of down periods

Portfolio Fit

The fund can provide a long-term core allocation to global equities with the potential for lower volatility over market cycles.

Return on Invested Capital

AS OF 9/30/18

Debt/Capital

AS OF 9/30/18

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund’s prospectus.

The principal risks of investing in the Calamos Global Growth and Income Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, foreign securities risk, emerging markets risk, equity securities risk, growth stock risk, interest rate risk, credit risk, high yield risk, forward foreign currency contract risk, portfolio selection risk, and liquidity risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

NOTES

Debt/Capital Ratio-Is a measure of a company s financial leverage, calculated as the company’s debt divided by its total capital.

ROIC (Return On Invested Capital)-Measures how effectively a company uses the money invested in its operations, calculated as a company’s net income minus any dividends divided by the company’s total capital.

The MSCI ACWI Growth Index is a free float-adjusted market capitalization weighted index that is designed to measure the growth equity market performance of developed markets and emerging markets.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 4.75%. Had it been included, the Fund's return would have been lower.

The funds' gross expense ratios as of the prospectus dated 3/1/18 are as follows: Growth A 1.40%, C 2.15% and I 1.15%; Growth and Income A 1.12%, C 1.87% and I 0.87%; Opportunistic Value A 1.67%, C 2.42% and I 1.42%; Dividend Growth A 1.87%, C 2.73% and I 1.80%; Global Growth and Income A 1.54%, C 2.29% and I 1.29%; International Growth A 1.46%, C 2.21%; and I 1.21%; Global Equity A 1.53%, C 2.27% and I 1.28%; Evolving World Growth A 1.67%, C 2.41% and I 1.41%; Emerging Market Equity A 2.70%, C 3.45% and I 2.45%; Convertible A 1.18%, C 1.93% and I 0.93%; Global Convertible A 1.46%, C 2.20% and I 1.19%; Market Neutral Income A 1.28%, C 2.03% and I 1.02%; Phineus Long/Short A 2.80%, C 3.55% and I 2.54%; Hedged Equity Income A 2.15%, C 3.04% and I 2.07%; High Income Opportunities A 1.33%, C 2.08% and I 1.08%; and Total Return Bond A 1.08%, C 1.83% and I 0.84%. The gross expense ratios as of the prospectus dated 8/29/18 for the Short-Term Bond are A 0.95%, and I 0.70%. The gross expense ratio as of the prospectus dated 9/17/18 for the International Growth R6 Share Class is 1.12%.  

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing, carefully consider the fund’s investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Calendar Year Total Returns

AS OF 9/30/18

Growth of 10K

Annualized Total Returns

AS OF 9/30/18
Calamos (NAV)1.60%7.16%8.86%5.83%6.77%6.94%7.41%7.91%
(Load-Adjusted)-3.18%2.05%7.13%4.82%6.25%6.59%7.15%7.68%
MSCI ACWI5.22%10.35%14.02%9.25%8.77%8.69%6.76%7.18%
MSCI World7.19%11.84%14.18%9.89%9.18%8.74%6.69%7.31%

The Fund's Gross Expense Ratio is 1.54% as of the prospectus dated 3/01/18

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Growth and Income Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, foreign securities risk, emerging markets risk, equity securities risk, growth stock risk, interest rate risk, credit risk, high yield risk, forward foreign currency contract risk, portfolio selection risk, and liquidity risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

10k 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. Index data shown is from 8/31/96, since comparative index data is available only for full monthly periods. Source: State Street Corporation and Lipper, Inc.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 4.75%. Had it been included, the Fund's return would have been lower.

MSCI® World Index-Is a market capitalization weighted index composed of companies representative of the market structure of developed market countries in North America, Europe, and Asia/Pacific region.

The MSCI ACWI Growth Index is a free float-adjusted market capitalization weighted index that is designed to measure the growth equity market performance of developed markets and emerging markets.

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 in an index.

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. Performance shown reflects an expense reimbursement that improved results. Load-adjusted returns are adjusted for the maximum front-end sales load of 2.25%* for Class A shares in the following funds: Convertible Fund, Global Convertible Fund, Market Neutral Income Fund, High Income Opportunities Fund, and Total Return Bond Fund. The maximum front-end sales load for Class A shares of all other funds is 4.75%. There is a 1% contingent deferred sales charge for C shares on certain redemptions within the first year of purchase. Class C shares have been adjusted for the contingent deferred sales charge (CDSC). There are no contingent deferred sales charges or distribution or service fees with respect to Class I shares. The minimum initial investment required to purchase each Fund's Class I shares is $1 million. Class I shares are offered primarily for direct investment by investors through certain tax-exempt retirement plans (including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans, defined benefit plans and non-qualified deferred compensation plans) and by institutional clients, provided such plans or clients have assets of at least $1 million. Class I shares may also be offered to certain other entities or programs, including, but not limited to, investment companies, under certain circumstances. *Prior to 2/28/17, the Convertible Fund, Global Convertible Fund, Market Neutral Income Fund, and High Income Opportunities fund had a maximum front-end sales load of 4.75%, and the Total Return Bond Fund had a maximum front-end sales load of 3.75%.

The funds' gross expense ratios as of the prospectus dated 3/1/18 are as follows: Growth A 1.40%, C 2.15% and I 1.15%; Growth and Income A 1.12%, C 1.87% and I 0.87%; Opportunistic Value A 1.67%, C 2.42% and I 1.42%; Dividend Growth A 1.87%, C 2.73% and I 1.80%; Global Growth and Income A 1.54%, C 2.29% and I 1.29%; International Growth A 1.46%, C 2.21%; and I 1.21%; Global Equity A 1.53%, C 2.27% and I 1.28%; Evolving World Growth A 1.67%, C 2.41% and I 1.41%; Emerging Market Equity A 2.70%, C 3.45% and I 2.45%; Convertible A 1.18%, C 1.93% and I 0.93%; Global Convertible A 1.46%, C 2.20% and I 1.19%; Market Neutral Income A 1.28%, C 2.03% and I 1.02%; Phineus Long/Short A 2.80%, C 3.55% and I 2.54%; Hedged Equity Income A 2.15%, C 3.04% and I 2.07%; High Income Opportunities A 1.33%, C 2.08% and I 1.08%; and Total Return Bond A 1.08%, C 1.83% and I 0.84%. The gross expense ratios as of the prospectus dated 8/29/18 for the Short-Term Bond are A 0.95%, and I 0.70%. The gross expense ratio as of the prospectus dated 9/17/18 for the International Growth R6 Share Class is 1.12%.  

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Sector Weightings

AS OF 9/30/18
% of Assets MSCI ACWI Index
Information Technology 26.1% 20.0%
Financials 15.1% 17.1%
Health Care 10.3% 11.8%
Consumer Discretionary 10.1% 12.2%
Energy 9.5% 6.7%
Consumer Staples 7.3% 7.9%
Industrials 6.6% 10.7%
Materials 3.3% 5.0%
Real Estate 2.1% 2.8%
Utilities 1.1% 2.8%
Telecom Services 0.0% 2.8%

Asset Allocation

AS OF 9/30/18

Month-End Yield

AS OF 10/31/18
30-Day SEC Yield 0.62%
Distribution Yield 6.65%

Top 10 Holdings

Adobe Logo View All Holdings AS OF 9/30/18
Company Security Type Industry
%
Alibaba Exchangeable (Softbank) Convertible Preferred Stocks Internet Software & Services 2.9%
Johnson & Johnson Common Stocks Pharmaceuticals 2.3%
Ping An Exchangeable (JP Morgan) Convertible Bonds Life & Health Insurance 2.2%
TOTAL, SA Convertible Bonds Integrated Oil & Gas 2.1%
Apple, Inc. Common Stocks Technology Hardware, Storage & Peripherals 2.1%
MasterCard, Inc. - Class A Common Stocks Data Processing & Outsourced Services 1.7%
Workday, Inc. Convertible Bonds Application Software 1.7%
Bank of America Corp. Common Stocks Diversified Banks 1.6%
Walt Disney Company Common Stocks Movies & Entertainment 1.6%
JPMorgan Chase & Company Common Stocks Diversified Banks 1.6%
Total 19.8%

Fund Facts

AS OF 9/30/18
Fund MSCI ACWI Index
Total Net Assets $208.4 million --
# of Holdings 105 2,791
Duration 2.0 years --
Median Investment Premium 23.2% --
Median Conversion Premium 17.3% --
Price/Book 2.8x 2.2x
Price/Earnings 19.6x 16.8x
Price/Sales 1.5x 1.5x
PEG Ratio 1.6x 1.8x
Debt/Capital 35.6% 39.0%
ROIC 19.0% 17.7%
Portfolio Turnover (12 months) 71.6% --

Market Capitalization

AS OF 9/30/18
Market %
> $112bil 46.8%
$32bil - $112bil 34.1%
$11bil - $32bil 15.2%
$4bil - $11bil 3.9%
< $4bil 0.0%

Regional Exposure

AS OF 9/30/18
Region %
North America 53.8%
Europe 23.2%
Asia/Pacific 18.9%
Latin America 0.8%
Caribbean 0.0%
Middle East/Africa 0.0%

Top Country Exposures

AS OF 9/30/18
Country%
United States 51.6%
China 8.6%
United Kingdom 6.0%
Germany 4.8%
Japan 4.3%
Switzerland 4.1%
France 3.4%
Netherlands 2.9%
India 2.5%
Canada 2.2%

Top Currency Exposures

AS OF 9/30/18
Currency%
United States Dollar (USD) 69.0%
Euro (EUR) 11.2%
Japanese Yen (JPY) 4.4%
British Pound Sterling (GBP) 4.1%
Hong Kong Dollar (HKD) 3.9%
Swiss Franc (CHF) 2.6%
Canadian Dollar (CAD) 2.2%
Taiwan Dollar (TWD) 1.6%
Indian Rupee (INR) 1.0%
Australian Dollar (AUD) 0.0%
South Korean WON (KRW) 0.0%
Swedish Krona (SEK) 0.0%
Brazilian Real (BRL) 0.0%
South African Rand (ZAR) 0.0%
Danish Krone (DKK) 0.0%
Singapore Dollar (SGD) 0.0%
Russian Ruble (RUB) 0.0%
Mexican Peso (MXN) 0.0%
Thai Bahat (THB) 0.0%
Malaysian Ringgit (MYR) 0.0%
Norwegian Krone (NOK) 0.0%
Indonesian Rupiah (IDR) 0.0%
Polish Zloty (PLN) 0.0%
Chilean Peso (CLP) 0.0%
Philippines Peso (PHP) 0.0%
Qatari Riyal (QAR) 0.0%
Israeli Shekel (ILS) 0.0%
China Renminbi (Yuan) (CNY) 0.0%
Turkish New Lira (TRY) 0.0%
Utd Arab Emirates Dirham (AED) 0.0%
New Zealand Dollar (NZD) 0.0%
Colombian Peso (COP) 0.0%
Hungarian Forint (HUF) 0.0%
Czech Koruna (CZK) 0.0%
Egyptian Pound (EGP) 0.0%
Pakistani Rupee (PKR) 0.0%

Credit Quality of Bonds

AS OF 9/30/18
Class %
AAA 14.1%
AA 10.9%
A 0.0%
BBB 6.9%
BB 4.1%
B 1.8%
CCC and below 0.0%
Unrated Securities 62.2%

Maturity Schedule

AS OF 9/30/18
Security Type%
Equities and Other 62.9%
1 To 5 Years 28.1%
5 To 10 Years 5.4%
< 1 Year 3.6%
10 To 20 Years 0.0%
20 To 30 Years 0.0%
> 30 Years 0.0%

Bond Duration

AS OF 9/30/18
Weighted Avg. Duration 2.0 years
Weighted Avg. Maturity 3.2 years

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Growth and Income Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, foreign securities risk, emerging markets risk, equity securities risk, growth stock risk, interest rate risk, credit risk, high yield risk, forward foreign currency contract risk, portfolio selection risk, and liquidity risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Top 10 Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government / sovereign bonds or broad based index hedging securities the portfolio may hold.

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.

Annualized Standard Deviation-A statistical measure of the historical volatility of a mutual fund or portfolio. 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 Fund’s primary benchmark, while a beta of 2.0 reflects twice the volatility.

Current (SEC) Yield-Reflects the dividends and interest earned by the Fund during the 30-day period ended as of the date stated above after deducting the Fund’s expenses for that same period.

Conversion Premium- is the amount by which the market price of a convertible bond or convertible preferred exceeds the conversion value, expressed as a percentage. It is a gauge of equity participation.

Debt/Capital Ratio-Is a measure of a company s financial leverage, calculated as the company’s debt divided by its total capital.

Distribution Yield -Is calculated by dividing the sum of all distributions paid by the fund over the trailing 12 months by the fund's NAV as of the date of the period presented. Distributions may include income, short-term capital gains, and long-term capital gains. Short-term and long-term capital gains represent the net trading profits realized over the trailing 12 months in the fund and are not guaranteed. Distribution Yield is based on distributions made in the past and is therefore not reflective of the fund's current portfolio.

Duration- provides a measure of the Fund’s interest rate sensitivity—the longer a fund’s duration, the more sensitive it is to shifts in interest rates

Investment Premium-is the amount that the market price of the convertible is above its investment value, expressed as a percentage. It is a gauge of equity participation.

PEG Ratio-Represents a stock’s price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/Book Ratio-Is the stock's capitalization divided by its book value.

Price/Earnings Ratio-Is the current stock price over trailing 12-month earnings per share.

Price/Sales Ratio-Is a stock's capitalization divided by its sales over the trailing 12 months. ROIC (return on invested capital) measures how effectively a company uses the money invested in its operations, calculated as a company's net income minus any dividends divided by the company's total capital.

ROIC (Return On Invested Capital)-Measures how effectively a company uses the money invested in its operations, calculated as a company’s net income minus any dividends divided by the company’s total capital.

Turnover-Is the percentage of assets in a portfolio that changed over a certain period, often a year; higher turnover indicates greater buying and selling activity.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 4.75%. Had it been included, the Fund's return would have been lower.

The funds' gross expense ratios as of the prospectus dated 3/1/18 are as follows: Growth A 1.40%, C 2.15% and I 1.15%; Growth and Income A 1.12%, C 1.87% and I 0.87%; Opportunistic Value A 1.67%, C 2.42% and I 1.42%; Dividend Growth A 1.87%, C 2.73% and I 1.80%; Global Growth and Income A 1.54%, C 2.29% and I 1.29%; International Growth A 1.46%, C 2.21%; and I 1.21%; Global Equity A 1.53%, C 2.27% and I 1.28%; Evolving World Growth A 1.67%, C 2.41% and I 1.41%; Emerging Market Equity A 2.70%, C 3.45% and I 2.45%; Convertible A 1.18%, C 1.93% and I 0.93%; Global Convertible A 1.46%, C 2.20% and I 1.19%; Market Neutral Income A 1.28%, C 2.03% and I 1.02%; Phineus Long/Short A 2.80%, C 3.55% and I 2.54%; Hedged Equity Income A 2.15%, C 3.04% and I 2.07%; High Income Opportunities A 1.33%, C 2.08% and I 1.08%; and Total Return Bond A 1.08%, C 1.83% and I 0.84%. The gross expense ratios as of the prospectus dated 8/29/18 for the Short-Term Bond are A 0.95%, and I 0.70%. The gross expense ratio as of the prospectus dated 9/17/18 for the International Growth R6 Share Class is 1.12%.  

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Total Capital Gains

  
20170.5656
20160.0561
20150.1075
20141.7124
20131.7448
20120.2409
20110.0000
20100.0000
20090.0000
20080.0000

Schedule

   
Distributions Quarterly
Capital Gains Annually

Distributions

Choose a year  
Income Total Reinvest
3Q 2018 0.00985 0.00985 9.60000
2Q 2018 0.01263 0.01263 9.75000
1Q 2018 0.00965 0.00965 9.77000
4Q 2017 0.00000 0.00000 9.38000
3Q 2017 0.00000 0.00000 9.58000
2Q 2017 0.00680 0.00680 9.11999
1Q 2017 0.00000 0.00000 8.85000
4Q 2016 0.00056 0.00056 8.42000
3Q 2016 0.00000 0.00000 8.55000
2Q 2016 0.00000 0.00000 8.21000
1Q 2016 0.00000 0.00000 0.00000
4Q 2015 0.00000 0.00000 8.36000
4Q 2014 0.04020 0.04020 8.42000
1Q 2014 0.00878 0.00878 10.10000
4Q 2013 0.27726 0.27726 9.79000
3Q 2013 0.00000 0.00000 0.00000
2Q 2013 0.00000 0.00000 0.00000
1Q 2013 0.01422 0.01422 10.96000
4Q 2012 0.07555 0.07555 10.78000
3Q 2012 0.00000 0.00000 0.00000
2Q 2012 0.04450 0.04450 10.29000
1Q 2012 0.12637 0.12637 11.04000
4Q 2011 0.04126 0.04126 10.42000
3Q 2011 0.00000 0.00000 0.00000
2Q 2011 0.00000 0.00000 0.00000
1Q 2011 0.00000 0.00000 0.00000
4Q 2010 0.00000 0.00000 0.00000
3Q 2010 0.00000 0.00000 0.00000
2Q 2010 0.14885 0.14885 9.55000
1Q 2010 0.04235 0.04235 9.85000
4Q 2009 0.00000 0.00000 0.00000
3Q 2009 0.00000 0.00000 0.00000
2Q 2009 0.00000 0.00000 0.00000
1Q 2009 0.00000 0.00000 0.00000
4Q 2008 0.22797 0.22797 7.16000
3Q 2008 0.00000 0.00000 0.00000
2Q 2008 0.00000 0.00000 0.00000
1Q 2008 0.00000 0.00000 0.00000
Adobe Logo Most Recent Distributions

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Growth and Income Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, foreign securities risk, emerging markets risk, equity securities risk, growth stock risk, interest rate risk, credit risk, high yield risk, forward foreign currency contract risk, portfolio selection risk, and liquidity risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 4.75%. Had it been included, the Fund's return would have been lower.

The funds' gross expense ratios as of the prospectus dated 3/1/18 are as follows: Growth A 1.40%, C 2.15% and I 1.15%; Growth and Income A 1.12%, C 1.87% and I 0.87%; Opportunistic Value A 1.67%, C 2.42% and I 1.42%; Dividend Growth A 1.87%, C 2.73% and I 1.80%; Global Growth and Income A 1.54%, C 2.29% and I 1.29%; International Growth A 1.46%, C 2.21%; and I 1.21%; Global Equity A 1.53%, C 2.27% and I 1.28%; Evolving World Growth A 1.67%, C 2.41% and I 1.41%; Emerging Market Equity A 2.70%, C 3.45% and I 2.45%; Convertible A 1.18%, C 1.93% and I 0.93%; Global Convertible A 1.46%, C 2.20% and I 1.19%; Market Neutral Income A 1.28%, C 2.03% and I 1.02%; Phineus Long/Short A 2.80%, C 3.55% and I 2.54%; Hedged Equity Income A 2.15%, C 3.04% and I 2.07%; High Income Opportunities A 1.33%, C 2.08% and I 1.08%; and Total Return Bond A 1.08%, C 1.83% and I 0.84%. The gross expense ratios as of the prospectus dated 8/29/18 for the Short-Term Bond are A 0.95%, and I 0.70%. The gross expense ratio as of the prospectus dated 9/17/18 for the International Growth R6 Share Class is 1.12%.  

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Annual Expenses

A Shares C Shares I Shares
Total Expense Ratio1.542.291.29
Net Expense Ratio1.542.291.29
Transaction Fee0.000.000.00
Redemption Fee0.000.000.00

Investment Information

A Shares C Shares I Shares
Minimum initial investment$2,500$2,500$1 million
Minimum subsequent investments$50$50$0
IRA initial investments$500$500N/A

Fund Information

A Shares C Shares I Shares
Inception Date9/09/969/24/969/18/97
Ticker SymbolCVLOXCVLCXCGCIX
CUSIP number128119500128119708128119609

Sales & Distribution

A Shares C Shares I Shares
Sales loadFront-endLevel-loadN/A
Maximum Sales Charge4.75%1.00%N/A
US Bank Fund Number607621631
DistributionsQuarterly dividends; annual capital gains

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Growth and Income Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, foreign securities risk, emerging markets risk, equity securities risk, growth stock risk, interest rate risk, credit risk, high yield risk, forward foreign currency contract risk, portfolio selection risk, and liquidity risk.

As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by S&P Global Market Intelligence LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Calamos Global Growth and Income Fund Quarterly Commentary A quarterly update of the Calamos Global Growth and Income Fund’s performance, positioning, related market commentary and outlook.
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Calamos Global Growth Fund Fact Sheet The Global Growth and Income Fund fact sheet provides a snapshot of the investment team, the fund strategy, performance, composition, ratings and returns.
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The Opportunity of Convertible Securities

Like stocks, convertibles typically offer upside appreciation in rising equity markets. Like bonds, convertibles provide income and potential downside protection in declining markets.

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Rising Rates Raising Concerns? The Fed’s decision to raise interest rates can cause headwinds for portfolios with traditional fixed-income securities. Convertible securities can potentially diversify asset allocations beyond bonds and stocks.
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Convertible Securities: Structures, Valuation, Market Environment, and Asset Allocation A comprehensive overview of convertible securities, including history, structures, valuation, market environment, and roles within asset allocation.
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Calamos Global Growth and Income Fund Prospectus This summary contains important information about the Class A, C, and I Global Growth and Income Fund investment objective, fees and expenses, principal investment strategies, principal risks and performance.
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Statutory Prospectus You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities.
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SAI The statement of additional information is a supplementary document to the fund’s prospectus and contains additional information about the fund and includes further disclosure regarding its operations.
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Semi Annual Report The semiannual report includes a letter from John P. Calamos, Sr. to shareholders and provides a comprehensive review of the fund’s activities and financial performance over a six month period.
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Annual Report The annual report includes a letter from John P. Calamos, Sr. to shareholders outlining the fund's performance, as well as a comprehensive review of the fund’s activities and financial performance.
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