Institutional Strategies Main

International Growth Concentrated

Strategy Details




As of 31/12/18
Inception Date:
01/12/2013
Strategy Assets*:
$37.6 M
Benchmark:
MSCI ACWI ex-US Growth

Resources

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

Strategy Objective

A non-U.S. all-cap growth equity strategy that invests in a concentrated portfolio of common stocks of growth companies based outside the United States and seeks to outperform the MSCI ACWI ex-U.S. Growth 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 31/12/18
% of Assets MSCI ACWI ex-US Growth Under/Overweight %
Consumer Staples 17.9% 16.7%
Consumer Discretionary 14.7% 13.3%
Health Care 14.6% 11.1%
Information Technology 12.6% 12.1%
Communication Services 11.5% 8.2%
Financials 10.9% 9.9%
Industrials 8.6% 15.5%
Real Estate 3.4% 1.9%
Materials 3.2% 7.0%
Energy 2.6% 3.0%
Utilities 0.0% 1.3%
 

Representative Portfolio Ten Largest Holdings

AS OF 31/12/18
Company Country Sector %
Tencent Holdings, Ltd. China Communication Services 6.6
Alibaba Group Holding, Ltd. China Consumer Discretionary 5.6
Csl, Ltd. Australia Health Care 4.2
Diageo, Plc United Kingdom Consumer Staples 4.0
Astrazeneca, Plc United Kingdom Health Care 3.8
Lululemon Athletica, Inc. Canada Consumer Discretionary 3.6
Thales, Sa France Industrials 3.5
Lm Ericsson Telephone Company - Class B Sweden Information Technology 3.5
Nestle, Sa Switzerland Consumer Staples 3.4
Aroundtown, Sa Germany Real Estate 3.4

Characteristics

AS OF 12/31/18
  Calamos Portfolio MSCI ACWI ex-US Growth
Assets in Strategy $37.6 million N/A
# of Holdings 39 1130
Portfolio Turnover % (12-Month) 73.6% N/A
Median Market Cap ($bil) $46.1 $7.7
Weighted Average Market Cap ($bil) $99.8 $67.6
ROIC % 21.8% 15.9%
Debt/Capital % 30.4% 28.3%
PEG Ratio (1 year forward) 1.6x 1.8x

Composite Summary

AS OF 31/12/18
Period Ending Composite Assets (in Millions) Total Assets (in Millions) % Of Total Assets Managed # Of Clients Average Acct. Size (in Millions)
12/31/2017 07 20,788 0.0% 1 07
12/31/2016 05 18,278 0.0% 1 05
12/31/2015 05 21,908 0.0% 1 05
12/31/2014 05 23,506 0.0% 1 05
12/31/2013 05 26,543 0.0% 1 05

44604C

Annualized Total Returns

AS OF 31/12/18
1-Year3-Year5-YearSince Inception (12/13)
International Growth Concentrated (Gross)-19.56%1.29%0.40%1.03%
International Growth Concentrated (Net)-20.26%0.33%-0.57%0.06%
MSCI ACWI ex-US Growth-14.12%4.55%2.05%2.22%

Calendar Year Returns

AS OF 31/12/18
                           Qtr Ending Dec 182018201720162015201412/01/2013 to 12/31/2013
International Growth Concentrated (Gross)-15.51%-19.56%37.17%-5.82%6.03%-7.42%3.29%
International Growth Concentrated (Net)-15.69%-20.26%35.82%-6.75%4.99%-8.33%3.20%
MSCI ACWI ex-US Growth-12.16%-14.12%32.44%0.49%-0.91%-2.29%1.04%



44604B

Risk/Reward Since Inception

AS OF 31/12/18
  Calamos International Growth Concentrated Composite MSCI ACWI ex-US Growth
Alpha -1.17% N/A
Beta 1.07 1.00
Standard Deviation 13.38% 11.72%
Upside Semivariance 7.80% 5.78%
Downside Semivariance 6.89% 5.52%
Sharpe Ratio 0.0327 0.1394
Information Ratio -0.2533 N/A

Since Inception Up/Down Capture Vs. MSCI ACWI ex-US Growth

AS OF 31/12/18

44604B

Strategy Vehicles

Separately Managed Accounts Minimum: $25 million

34604E

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