The Fund may be suitable as a core fixed-income investment in many portfolios.
The Fund primarily invests its assets in a broad range of U.S. dollar-denominated high-yield securities, including bonds (often referred to as “junk” bonds),
convertible securities or preferred stocks, with an emphasis on below investment-grade debt securities. Although the Fund will invest primarily in U.S. debt
securities, it may invest without limit in dollar-denominated non-U.S. debt securities and to a limited extent in non-dollar-denominated non-U.S. debt securities,
including in each case emerging markets debt securities.
In addition, the Fund may invest its assets in equity securities, defaulted securities, non-dollar-denominated foreign debt securities (including emerging markets
debt securities), and certain derivatives, such as futures and options. The Fund may use derivatives for hedging and/or efficient portfolio management.
The Fund seeks to provide total return primarily through high current income and secondarily through capital appreciation.
MATT FREUND, CFA
CO-CIO, HEAD OF FIXED INCOME STRATEGIES, SENIOR CO-PORTFOLIO MANAGER
Matt Freund has 27 years of industry experience. Prior to joining Calamos in 2016, he was Chief
Investment Officer of USAA Investments, overseeing more than $140 billion in assets. He led the
teams responsible for the portfolio management of USAA’s mutual funds and affiliated portfolios,
including P&C and life insurance products, and managed a number of highly regarded fixed
income mutual funds, including USAA High Income Fund (3/8/99 - 31/10/16). He received a B.A. in
Accounting from Franklin & Marshall College and an M.B.A.from Indiana University.
The performance data quoted represents past performance and is no guarantee of future results. Current performance may
be higher or lower than the performance data quoted. The return and principal value of an investment will fluctuate, so that
an investor’s shares, when redeemed, may be worth more or less than their original cost.
The Fund is newly-organized and has a
limited performance history. *The information provided above reflects the historical performance results of a Previously Managed Fund which Mr.
Freund was primarily responsible for the day-to-day portfolio management from August 1999 to October 2016 (the “Relevant Period”). During
the Relevant Period, Mr. Freund exercised final decision making over all material aspects concerning the investment objective, policies, strategies
and security selection decisions of the Previously Managed Fund. Although the Fund is managed by the same portfolio manager and utilizes a
similar investment process, the performance of the Fund may differ significantly from the performance presented above. There may be differences
in performance/portfolio composition between the Previously Managed Fund and UCITS due to UCITS restrictions.
Calamos High Income Opportunities 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”). 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 Fund also offers Classes
A, I, X and Z shares, the performance of which may vary.
Performance shown is net of fees.
Sources for performance data: Calamos Advisors LLC and
The Fund is offered solely to non-U.S. investors under the
terms and conditions of the Fund’s current prospectus. The
prospectus contains important infor mation about the Fund
and should be read carefully before investing. A copy of the
full prospectus and Key Investor Information Document (KIID)
for the Fund may be obtained by visiting www.calamos.com/
global, or through the Fund’s Transfer Agent, RBC.
Bloomberg Barclays US Corporate High Yield Index
measures the US corporate market of non-investment grade,
fixed-rate corporate bonds. Securities are classified as high
yield if the middle rating of Moody’s,Fitch, and S&P is Ba1/
BB+/BB+ or below.
Bloomberg Barclays US Corporate High Yield 2% Issuer
Capped Bond Index:
an issuer constrained version of the
flagship US Corporate High Yield Index, which measures the
USD-denominated, high yield, fixed-rate corporate bond
market. The index follows the same rules as the uncapped
version, but limits the exposure of each issuer to 2% of the
total market value and redistributes any excess market value
index wide on a pro rata basis.
This document does not constitute an offer or solicitation
to invest in the Fund. It is directed only at professional/
sophisticated investors and it is for their use and information.
This document should not be shown or given to retail
investors. Any entity responsible for forwarding this material
to other parties takes responsibility for ensuring compliance
with the financial promotion rules.
Investing in securities products involves risk, including
possible loss of principal.
Diversification does not guarantee a profit or prevent a loss.
High double digit returns are attributable, in part, to
unusually favorable market conditions and may not be
repeated or consistently achieved in the future.