Investment Ideas

Liquid Alts in 2021: Record AUM, Strongest Flows Since 2013—and Performance to Believe In

Elise Pondel, CFA, AVP, Director of Product Analytics

January 25, 2022

In a reversal of a downward trend that started in 2014, last year there was unprecedented demand for liquid alternatives. Most important: the products’ performance met the demand. Alt assets reached a new high watermark in 2021, with almost all Morningstar categories benefiting from positive net flows and positive performance.

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Next Year May Be More Nuanced, But CPLIX’s Grant Believes Equity Investors Need to ‘Ride the Tiger’

December 10, 2021

As long as fundamental momentum is above trend and there’s a backdrop of liquidity at historically high levels, Calamos Co-CIO and Head of Long/Short Strategies Michael Grant urges investment professionals to lean into equity risk.

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This Is Far from Over, Don’t Miss the Rest of What Could Be a ‘Remarkable’ Period for Equities: CPLIX’s Grant

Michael Grant

August 18, 2021

It's too early to call the top in S&P 500 earnings; earnings could continue to trend higher at an almost historic pace for the next three to six quarters, according to Michael Grant, Co-CIO, Senior Co-Portfolio Manager and Head of Long/Short Strategies.

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Don’t Underestimate the Power of This Recovery—Or the Magnitude of Change Ahead, Says Grant

Michael Grant

June 7, 2021

Just-released “Preparing for a New Era of Reflation…And the End of Central Bank Leadership" features the perspective of the Calamos Global Long/Short Strategies team headed by Michael Grant, Co-CIO, Head of Long/Short Strategies and Senior Co-Portfolio Manager.

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The CMNIX/CPLIX Half Caff: Some of the Jolt, Less of the Jumpiness

May 17, 2021

We analyze the efficient portfolio that resulted from combining income alternative Calamos Market Neutral Income Fund (CMNIX) and equity alternative Calamos Phineus Long/Short Fund (CPLIX).

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Morningstar Remaps Liquid Alts, Industry-leading CMNIX Moves to New, 'Unrated' Category

Reassignments also involve CIHEX, CPLIX, CIGEX

May 6, 2021

CMNIX is now in the new Relative Value Arbitrage category, with just eight funds. With such a small set of data points, Morningstar has determined that funds in this category will not be assigned a star rating.

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Growth/Cyclical Barbell Drives CPLIX Outperformance—and Grant’s 2021 Bullishness Continues

Robert F. Bush, Jr.

April 12, 2021

Optimal participation in a disjointed recovery: That’s how Calamos Phineus Long/Short Fund (CPLIX) has been positioned—to investors’ advantage—since the start of the pandemic.

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CPZ Outpaces S&P 500, VXA0 and MSCI World in Q1

Robert F. Bush, Jr.

April 9, 2021

Closed-end fund Calamos Long/Short Equity & Dynamic Income Trust (CPZ) may be an excellent idea for clients concerned about equity market volatility and high current market valuations, and in search of income that is not necessarily tied to high duration or low credit fixed income securities.

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CPZ’s NAV Performance YTD Has Beaten the S&P 500, VXAO and MSCI World Indexes

February 26, 2021

CPZ offers risk-managed equity exposure in global stock markets, and its active asset allocation allows for investments in income-producing securities, such as preferred stock and high yield bonds, to support monthly distributions.

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Don’t Be Fooled by 2020’s Snapback—The Next Equity Drawdown Could Be More Typical: Longer and More Destructive

February 17, 2021

Notwithstanding the markets' spectacular rebound last year—and mindful that this February stocks are back to trading at record highs—we’ll return to our original premise: There’s merit to seeking to minimize the depth and length of a drawdown.

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