Institutional Strategies Main

Emerging Market Equity

Strategy Details




As of 12/31/18
Inception Date:
12/01/13
Strategy Assets*:
$13.9 M
Benchmark:
MSCI Emerging Markets

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 12/31/18
% of Assets MSCI Emerging Markets Under/Overweight %
Financials 24.2% 24.9%
Information Technology 17.6% 14.2%
Communication Services 15.5% 14.1%
Consumer Discretionary 14.3% 10.4%
Consumer Staples 7.9% 6.7%
Materials 6.9% 7.7%
Industrials 5.3% 5.5%
Energy 3.8% 8.0%
Real Estate 3.6% 3.0%
Health Care 0.9% 2.8%
Utilities 0.0% 2.7%
 

Representative Portfolio Ten Largest Holdings

AS OF 12/31/18
Company Country Sector %
Alibaba Group Holding, Ltd. China Consumer Discretionary 7.8
Tencent Holdings, Ltd. China Communication Services 7.2
Taiwan Semiconductor Mfg Co. Taiwan Information Technology 4.0
Samsung Electronics Company South Korea Information Technology 3.9
China Construction Bank Corp China Financials 3.6
Hdfc Bank, Ltd. India Financials 3.5
Ping An Insurance Group Company China Financials 2.4
Wal-Mart De Mexico, Sab De Cv Mexico Consumer Staples 2.4
Bank Central Asia, Tbk Pt Indonesia Financials 2.2
Naspers, Ltd. - Class N South Africa Communication Services 2.0

Characteristics

AS OF 12/31/18
  Calamos Portfolio MSCI Emerging Markets
Assets in Strategy $13.9 million N/A
# of Holdings 80 1121
Portfolio Turnover % (12-Month) 98.4% N/A
Median Market Cap ($bil) $21.1 $5.8
Weighted Average Market Cap ($bil) $111.6 $79.0
ROIC % 21.3% 17.9%
Debt/Capital % 27% 26%
PEG Ratio (1 year forward) 1.4x 1.5x

Regional Exposure

AS OF 12/31/18
Region %
Asia/Pacific 75.6%
Latin America 15.3%
North America 5.2%
Middle East/Africa 3.3%
Europe 0.7%

Annualized Total Returns

AS OF 12/31/18
1-Year3-Year5-YearSince Inception (12/13)
Emerging Market Equity (Gross)-19.54%4.29%-1.17%-0.86%
Emerging Market Equity (Net)-20.44%3.16%-2.24%-1.94%
MSCI Emerging Markets-14.25%9.65%2.02%1.70%

Calendar Year Returns

AS OF 12/31/18
                           Qtr Ending Dec 182018201720162015201412/01/2013 to 12/31/2013
Emerging Market Equity (Gross)-8.68%-19.54%41.20%-0.15%-12.07%-5.47%1.50%
Emerging Market Equity (Net)-8.94%-20.44%39.70%-1.24%-13.04%-6.48%1.41%
MSCI Emerging Markets-7.40%-14.25%37.75%11.60%-14.60%-1.82%-1.44%



Risk/Reward Since Inception

AS OF 12/31/18
  Calamos Emerging Market Equity Composite MSCI Emerging Markets
Alpha -2.34% N/A
Beta 0.92 1.00
Standard Deviation 14.78% 15.09%
Upside Semivariance 8.83% 10.14%
Downside Semivariance 9.08% 8.57%
Sharpe Ratio -0.0984 0.0733
Information Ratio -0.4957 N/A

Since Inception Up/Down Capture Vs. MSCI Emerging Markets

AS OF 12/31/18

* 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
Institutional Mutual Fund (CIEIX) Minimum $1 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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