Institutional Strategies Main

Emerging Market Equity

Strategy Details




As of 31/3/19
Inception Date:
01/12/2013
Strategy Assets*:
$15.5 M
Benchmark:
MSCI Emerging Markets Index

Resources

*Strategy Assets reflect all assets that are currently being managed (collectively) under the strategy, which may contain multiple performance composites.

Strategy Objective

A growth-oriented emerging market equity strategy that invests in the common stocks of emerging market-domiciled companies and seeks to outperform the MSCI Emerging Markets Index over a full market cycle.

Key Differentiators
  • In-depth capital structure analysis
  • Rigorous top-down and fundamental research
  • High active share, high relative growth focus
  • Team approach to management

Sector Weightings

AS OF 31/3/19
% of Assets MSCI Emerging Markets Index Under/Overweight %
Financials 23.9% 24.1%
Information Technology 18.2% 14.6%
Consumer Discretionary 17.4% 13.4%
Communication Services 12.7% 12.3%
Industrials 6.2% 5.4%
Consumer Staples 5.6% 6.4%
Materials 5.4% 7.4%
Energy 4.9% 8.1%
Real Estate 3.6% 3.2%
Health Care 2.1% 2.6%
Utilities 0.0% 2.5%
 

Representative Portfolio Ten Largest Holdings

AS OF 31/3/19
Company Country Sector %
Alibaba Group Holding, Ltd. China Consumer Discretionary 7.0
Tencent Holdings, Ltd. China Communication Services 7.0
Samsung Electronics Company South Korea Information Technology 4.1
Taiwan Semiconductor Mfg Co. Taiwan Information Technology 3.7
Hdfc Bank, Ltd. India Financials 3.3
China Construction Bank Corp China Financials 3.2
Ping An Insurance Group Company China Financials 2.6
Bank Central Asia, Tbk Pt Indonesia Financials 2.0
Reliance Inds-Spons Gdr 144A India Energy 2.0
Naspers, Ltd. - Class N South Africa Consumer Discretionary 2.0

Characteristics

AS OF 3/31/19
  Calamos Portfolio MSCI Emerging Markets Index
Strategy Assets $15.5 M N/A
# of Holdings 94 1132
Portfolio Turnover % (12-Month) 90.2% N/A
Median Market Cap ($bil) $17.1 $6.6
Weighted Average Market Cap ($bil) $127.2 $95.5
ROIC % 20.2% 16.8%
Debt/Capital % 31.8% 26.7%
PEG Ratio (1 year forward) 1.4x 1.5x

Regional Exposure

AS OF 31/3/19
Region %
Asia/Pacific 76.2%
Latin America 14.6%
North America 3.7%
Middle East/Africa 3.0%
Europe 2.5%

Annualized Total Returns

AS OF 31/3/19
1-Year3-Year5-YearSince Inception (12/13)
Emerging Market Equity (Gross)-12.87%7.92%1.45%1.40%
Emerging Market Equity (Net)-13.83%6.75%0.35%0.30%
MSCI Emerging Markets Index-7.07%11.08%4.05%3.44%

Calendar Year Returns

AS OF 31/3/19
                           Qtr Ending Mar 19YTD 20192018201720162015201412/01/2013 to 12/31/2013
Emerging Market Equity (Gross)12.55%12.55%-19.54%41.20%-0.15%-12.07%-5.47%1.50%
Emerging Market Equity (Net)12.26%12.26%-20.44%39.70%-1.24%-13.04%-6.48%1.41%
MSCI Emerging Markets Index9.95%9.95%-14.25%37.75%11.60%-14.60%-1.82%-1.44%



Risk/Reward Since Inception

AS OF 31/3/19
  Calamos Emerging Market Equity Composite MSCI Emerging Markets Index
Alpha -1.70% N/A
Beta 0.93 1.00
Standard Deviation 15.02% 15.18%
Upside Semivariance 9.89% 10.88%
Downside Semivariance 8.66% 8.16%
Sharpe Ratio 0.0481 0.1822
Information Ratio -0.3999 N/A

Since Inception Up/Down Capture Vs. MSCI Emerging Markets Index

AS OF 31/3/19

* Strategy Assets reflect all assets that are currently being managed (collectively) under the Calamos Emerging Market Equity Strategy.

Strategy Vehicles

Separately Managed Accounts Minimum: $25 million

34601E

Fact Sheet The Emerging Market Equity Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.
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Emerging Market Equity Strategy Performance Review A quarterly discussion of the Calamos Emerging Market Equity Strategy’s performance versus a benchmark, positioning, related market commentary, and outlook.
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