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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What Could a Bond Alternative Do for Your Clients This Decade?

December 3, 2021

The declining interest rates of the past decade provided a strong tailwind for bond funds. And yet, Calamos Market Neutral Income Fund (CMNIX) managed to add value by delivering a bond-like return with a bond-like standard deviation but without the bond-like risk exposures.

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CMNIX + CICVX: Adjust the Dials for the ‘Right’ Blend of Market Risk, Volatility, Return Profile

December 2, 2021

You think peanut butter and chocolate are an appealing combination? Try mixing Calamos Market Neutral Income Fund (CMNIX) and Calamos Convertible Fund (CICVX).

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More on Convertibles and Rising Interest Rates

October 21, 2021

Our recently updated Convertible Securities: Structures, Valuation, Market Environment and Asset Allocation guide, by Calamos Founder, Chairman and Global CIO John P. Calamos, Sr., with Co-CIO and Senior Portfolio Manager Eli Pars provides additional insights on the relationship of the asset class and rising interest rates.

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WATCH: CMNIX’s Eli Pars on the ‘Extra Kiss’ SPACs Can Provide

Robert Behan, Eli Pars

October 13, 2021

As an opportunistic strategy intended to enhance income, Calamos Market Neutral Income Fund (CMNIX) can now invest up to 10% in Special Purpose Acquisition Corporations (SPACs), up from its previous limit of 5%.

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6 Ways to Use Convertibles to Potentially Manage U.S., Non-U.S. Equity Risk

September 9, 2021

Have it your way: Calamos’ six actively managed open-end funds use convertibles to support a variety of asset allocation goals.

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CMNIX’s Consistent Flows, Low Volatility Make This Alt ‘Easy to Own’

September 2, 2021

The gap between Calamos Market Neutral Income Fund (CMNIX)’s total return and Morningstar’s “investor return” is a skinny 6 basis points over 10 years—dramatically better than the Alternatives category group average of 433 basis points.

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6 Investment Teams, 3 Days: August CIO Conference Call Series Replays Now Available

August 13, 2021

Replays provide insights on preparing for what's ahead for the economy and convertible securities, liquid alternatives, emerging markets, and U.S. and small cap equities markets.

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How Fixed Income Alt CMNIX Is Pursuing 3%, 4%, 5% in a Zero-rate World: Pars on CIO Call

Eli Pars

August 11, 2021

Calamos Market Neutral Income Fund (CMNIX), managed as a replacement for intermediate fixed income in terms of risk and return, employs convertible arbitrage, hedged equity and now SPACs strategies, as explained by Co-CIO, Head of Alternative Strategies and Co-Head of Convertible Strategies, Senior Co-Portfolio Manager Eli Pars.

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Why The Economist Calls Convertibles ‘the Asset Class for the Times’

July 19, 2021

Converts were “almost tailor-made for the circumstances of spring 2020,” and it’s easy to “imagine future economic dislocations on the horizon,” according to The Economist on July 10. The coverage focuses on convertible bonds as a “flexible source of capital,” offering advantages over straight debt or equity for both issuers and investors.

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