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Emerging Markets Fund (IE00B4QR1M12)

Currency Class GO

Fund Details

As of 07/12/18
Inception Date:
15/2/11
Current NAV:
$9.19
$ Change:
($0.07)
% Change:
-0.76%
Net Assets*:
5,229,752
(*Total USD Net Assets as of 30/11/18)

Resources

Portfolio Fit

Emerging markets are now a significant part of the world economy. The Emerging Markets Fund stands as a potential long-term strategic allocation to this vital area.

Key Features

The fund invests in global growth companies with an emphasis on revenue streams derived from emerging markets as opposed to country of domicile. The fund combines equities and convertible securities with the aim of managing the risk and return profile in an occasionally volatile space.

The Calamos Difference

  • Focus on risk management in an asset class with a history of volatility, with an emphasis on revenue streams over company domicile and the use of convertibles to manage equity risk
  • Stress company fundamentals, including global presence, strong revenue and earnings growth, solid returns on invested capital and lower debt-to-capital levels
  • Seek global growth companies, that may benefit from long-term secular themes in the emerging markets, including a burgeoning middle class and an increased demand for information and entertainment

Fund Objective

The fund seeks long-term capital growth.

Fund Benchmark

  • MSCI Emerging Markets Index

Investment Process

The fund's investment team employs an investment process that considers global macro economic factors and investment themes. The team conducts both fundamental and quantitative research to evaluate the source, sustainability and risk of investment opportunities. The team manages a diversified portfolio monitoring and managing risk at the portfolio and individual security level.

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection 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

Top Ten 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. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

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. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An 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.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

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

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

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-The stock’s capitalization divided by its book value.

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

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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 directly in an index.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

Annualised Total Returns

AS OF 30/11/18
Calamos-14.37%-15.37%1.84%-1.34%-0.83%
MSCI Emerging-9.68%-8.75%9.81%2.27%1.43%

Calendar Year Total Returns

AS OF 30/11/18

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection 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

Top Ten 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. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

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. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An 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.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

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

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

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-The stock’s capitalization divided by its book value.

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

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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 directly in an index.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

Sector Weightings

AS OF 30/11/18
% of Assets MSCI Emerging Markets Index
Financials 23.3% 24.6%
Information Technology 15.4% 14.6%
Communication Services 12.2% 14.1%
Consumer Discretionary 12.1% 10.5%
Consumer Staples 9.6% 6.6%
Energy 9.6% 8.2%
Materials 8.3% 7.5%
Industrials 4.8% 5.5%
Real Estate 4.8% 3.0%
Health Care 2.4% 2.9%
Utilities 0.0% 2.6%

Asset Allocation

AS OF 30/11/18

Top 10 Holdings Adobe Logo View All Holdings

AS OF 30/11/18
Company Security Type Industry
%
JPMorgan Chase Bank, N.A. Convertible Bonds Life & Health Insurance 8.1%
Alibaba Exchangeable (Softbank) Convertible Preferred Stocks Internet & Direct Marketing Retail 7.9%
Tencent Holdings, Ltd. Common Stocks Interactive Media & Services 5.8%
Taiwan Semiconductor Manufacturing Company, Ltd. Common Stocks Semiconductors 4.9%
TOTAL, SA Convertible Bonds Integrated Oil & Gas 4.0%
AYC Finance, Ltd. Convertible Bonds Diversified Real Estate Activities 3.9%
Taiwan Cement Corp. Convertible Bonds Construction Materials 3.9%
HDFC Bank, Ltd. Common Stocks Diversified Banks 2.8%
Samsung Electronics Company, Ltd. Common Stocks Technology Hardware, Storage & Peripherals 2.4%
Tata Consultancy Services, Ltd. Common Stocks IT Consulting & Other Services 2.2%
Total 45.9%

Fund Facts

AS OF 30/11/18


Fund MSCI Emerging Markets Index
Total Net Assets $5.2 million --
# of Holdings 77 1,150
Duration 1.4 years --
Median Investment Premium 11.1% --
Median Conversion Premium 28.3% --
EPS Growth (5 Year) 19.0% 15.5%
Price/Book 2.5x 1.4x
Price/Earnings 17.3x 12.4x
Price/Sales 1.1x 0.7x
PEG Ratio 1.4x 1.4x
Debt/Capital 28.8% 25.8%
ROIC 19.0% 18.0%
Portfolio Turnover (12 months) 118.9% --

Market Capitalization

AS OF 30/11/18
Market %
> $100bil 29.7%
$20bil - $100bil 44.2%
$5bil - $20bil 16.0%
$0.30bil - $5bil 10.1%
< $0.30bil 0.0%

Regional Exposure

AS OF 30/11/18
Region %
Asia/Pacific 73.2%
Europe 13.6%
Latin America 10.8%
Middle East/Africa 3.4%
North America 1.6%

Country Exposure

AS OF 30/11/18
Country%
China 33.2%
India 11.0%
Taiwan 10.1%
Brazil 6.7%
South Korea 6.5%
France 5.6%
United Kingdom 5.3%
Philippines 3.9%
Mexico 3.1%
Hong Kong 2.7%

Currency Exposure

AS OF 30/11/18
Currency %
United States Dollar (USD) 42.2%
Hong Kong Dollar (HKD) 12.9%
Indian Rupee (INR) 10.7%
South Korean WON (KRW) 6.4%
Taiwan Dollar (TWD) 6.1%
British Pound Sterling (GBP) 4.7%
Brazilian Real (BRL) 3.5%
South African Rand (ZAR) 2.6%
Mexican Peso (MXN) 2.1%
Swedish Krona (SEK) 1.6%
Indonesian Rupiah (IDR) 1.5%
Euro (EUR) 1.5%
Thai Bahat (THB) 1.3%
Malaysian Ringgit (MYR) 1.0%
Swiss Franc (CHF) 1.0%
China Renminbi (Yuan) (CNY) 0.9%
Russian Ruble (RUB) 0.0%
Polish Zloty (PLN) 0.0%
Chilean Peso (CLP) 0.0%
Qatari Riyal (QAR) 0.0%
Philippines Peso (PHP) 0.0%
Turkish New Lira (TRY) 0.0%
Utd Arab Emirates Dirham (AED) 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 30/11/18
Class %
AAA 0.0%
AA 38.6%
A 0.0%
BBB 0.0%
BB 52.4%
B 6.4%
CCC and below 2.6%
Unrated Securities 0.0%

Maturity Schedule

AS OF 30/11/18
Security Type%
Equities and Other 79.1%
1 To 5 Years 19.6%
< 1 Year 1.3%
5 To 10 Years 0.0%
10 To 20 Years 0.0%
20 To 30 Years 0.0%
> 30 Years 0.0%

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection 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

Top Ten 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. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

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. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An 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.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

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

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

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-The stock’s capitalization divided by its book value.

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

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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 directly in an index.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

Total Capital Gains

A distribution has not been paid since the Fund’s inception (15 February 2011).

Schedule

Schedule
Distributions Annually
Capital Gains Annually

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection 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

Top Ten 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. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

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. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An 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.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

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

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

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-The stock’s capitalization divided by its book value.

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

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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 directly in an index.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

Annual Expenses

A Shares I Shares
Total Expense Ratio2.001.35
Management Fee (% of NAV)1.651.00

Investment Information

A Shares I Shares
Minimum initial investment (£/€/$)2,5001,000,000
Minimum subsequent investments (£/€/$)50100,000

Fund Information

A Shares I Shares
Inception Date15/2/1115/2/11
Bloomberg TickerCAEMAUA ID CAEMIUA ID
CUSIP numberG17689301G17689368
ISIN numberIE00B4QR1M12IE00B52B2V09
SEDOL numberB4QR1M1B52B2V0

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection 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

Top Ten 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. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

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. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An 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.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

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

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

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-The stock’s capitalization divided by its book value.

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

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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 directly in an index.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.
Quarterly Commentary A discussion of the Emerging Markets Fund's performance versus a benchmark, positioning, related market commentary, and outlook.
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Factsheet (Share Class A,C,I)
English
Spanish
The Emerging Markets fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.
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Factsheet (Share Class Z)
English
The Emerging Markets fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, ratings and returns.
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Annual Report The annual report includes a letter from John P. Calamos, Sr., to shareholders outlining the fund performance as well as a comprehensive review of the fund’s activities and financial performance.
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Semiannual Report
French
German
Greek
Spanish
The semi-annual report includes a letter from John P. Calamos Sr., to shareholders, provides a comprehensive review of the fund’s activities and financial performance for a six month period.
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Prospectus This prospectus sets forth concisely the information that you should know before investing. You should read the accompanying simplified prospectus, which contains important information, before deciding whether to invest in our securities.
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Key Investor Information Documents (KIID) The key Investor Information Document (KIID) aims to provide investors with a transparent and concise overview of funds in a standard format.
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Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

Calamos Emerging Markets Fund is a sub-fund of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number 444463), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities (“UCITS”). The Company is a recognised scheme in the UK for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the UK Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC.

Important Information
Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The “Since Inception” total return start date for the index information is 28/2/11, since comparative index data is available only for full monthly periods. The “Since Inception” start date for the Fund is 15/2/11.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC.

Important Risk Information
There is no assurance that the Fund will achieve its investment objective. An investment in the Fund involves investment risks, including possible loss of the amount invested. The principal risks of investing in the Fund include: equity securities risk, growth stock risk, foreign securities risk, emerging markets risk, convertible securities risk and portfolio selection 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

Top Ten 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. You can obtain a complete listing of holdings at www.calamos.com/global. Holdings and weightings are subject to change daily. Holdings are provided for information purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

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. Results are before taxes on fund/distributions and assume reinvestment of dividends and capital gains. Index data shown is from 28/2/11, since comparative index data is only available for full monthly periods. Source: State Street Corporation, Lipper, Inc. and Mellon Analytical Solutions, LLC.

Beta-An 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.

Bond Credit Quality-Reflects the higher of the ratings of Standard and Poor’s Corporation; Moody’s Investors Service, Inc.; Fitch, Inc.; National Association of Insurance Commissioners (NAIC) as well as Calamos’ proprietary credit scores and are adjusted to the scale shown. Ratings are relative, subjective and not absolute standards of quality. Excludes equity securities and cash.

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

Debt/Capital-Measures a company’s debt in relation to its total capital.

EPS Growth (5 Years)-Represents the historical weighted earnings per share growth of holdings.

Investment Premium-The amount that the market price is of the convertible is above its investment value, expressed as a percent of the investment value.

The MSCI Emerging Markets Index-A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets. The Index is calculated without dividends, with new or with gross dividends reinvested, but in U.S. dollars and local currencies.

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-The stock’s capitalization divided by its book value.

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

Price/Sales Ratio-A stock’s capitalization divided by its sales over the trailing 12 months.

ROIC (Return On Investment Capital)-Measures an investment’s growth prospects; measures the percentage earned on investment capital.

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 directly in an index.

An S&P Capital IQ fund grading represents an opinion only and should not be relied upon when making an investment decision. Past performance is not indicative of future results. Currency exchange rates may affect the value of investments. Copyright © 2017 by McGraw-Hill International (UK) Limited (S&P), a subsidiary of The McGraw-Hill Companies, Inc. All rights reserved.

Lipper ratings for Total Return reflect fund’s historical total return performance relative to peers. The ratings are subject to change every month and are based on an equal weighted average of percentile ranks for the Total Return metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return, the next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1. Lipper Leader ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Copyright © 2017 by Thomson Reuters. All rights reserved.

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