Past performance does not guarantee or indicate future results. 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.
The information portrayed on the composition tab is supplemental information to the Calamos Institutional Core Plus Fixed Income Composite and as such only relate to the
representative portfolio shown. Representative holdings and portfolio characteristics are specific only to the portfolio shown at that point in time. Other portfolios will
vary in composition, characteristics, and will experienced different investment results. The representative portfolio shown has been selected by the advisor based on account
characteristics that the advisor feels accurately represents the investment strategy as a whole.
Returns and Risk/Reward statistics presented reflect the Calamos Institutional Core Plus Fixed Income Composite which is an actively managed composite investing primarily in
a diversified portfolio of investment-grade securities that generally have a dollar-weighted average duration between three to ten years. The Composite was created December 1,
2010, calculated with an inception date of July 1, 2007 and includes all fully discretionary, fee paying accounts, including those no longer with the Firm.
Bond credit quality allocation reflects the higher of the ratings of Standards & Poor’s Corporation; or Moody’s Investors Service, Inc. Ratings are relative, subjective and not
absolute standards of quality, represent the opinions of the independent, Nationally Recognized Statistical Rating Organizations (NRSRO), and are adjusted to the Standards & Poor’s
scale shown. Ratings are measured using a scale that typically ranges from AAA (highest) to D (lowest). In addition, CAL has assigned its own ranking to the ""unrated bonds,""
based on its fundamental and proprietary investment process and has years of experience actively managing risk. The security’s credit rating does not eliminate risk. The table
excludes equity securities, cash and cash equivalents. For more information about securities ratings, please see the Statement of Additional Information at www.calamos.com. Additional
information on ratings methodologies are available by visiting the NRSRO websites: www.standardandpoors.com, and
The Bloomberg Barclays U.S. Aggregate Bond Index is a broad-based flagship benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate bond market. The index
includes bonds from the Treasury, Government-Related, Corporate, MBS (agency fixed rate and hybrid ARM pass-throughs), ABS and CMBS sectors. 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.
The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass.
Information contained herein is for informational purposes only and should not be considered investment advice.
The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed
herein will remain in an account's portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed do not represent an
account's entire portfolio and in the aggregate may represent only a small percentage of an account's portfolio holdings.
It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions
we make in the future will be profitable or will equal the investment performance of the securities discussed herein.
Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Russell/Mellon Analytical Services LLC
and Calamos Advisors LLC.
Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average assuming reinvestment of dividends and
capital gains distributions.