Feb. 4 Webcast to Focus on Putting Convertibles to Work to Anticipate the New Year’s New Risks
January 22, 2021
Convertible securities were by far the best performing major asset class last year, and hundreds of investment professionals experienced the benefit of using them for the first time.
The new year brings new risks—a new administration with new priorities, rising rates and even the ever-changing convertible market. Join us Thursday, Feb. 4, for our Investment Professionals–only webcast featuring a panel of preeminent experts, headlined by John P. Calamos, Sr., widely recognized as the pioneer of using converts to manage risk/reward.
Our last webcast on convertibles was Advisor Perspectives’ best-attended sponsored webcast of 2020. As a sequel, the Feb. 4 webcast will prepare you to put convertibles to work in 2021. You’ll learn about evolving convertible market dynamics (including near-record levels of issuance and new issuers) and the additive effect of actively managed convertibles as a risk-managed allocation.
1-hour CE is pending for CFP®, CIMA®, CPWA®, RMA®, CFA® and CIPM®.
Presenters
Senior Co-Portfolio Manager, including of Calamos Market Neutral Income Fund (CMNIX) and Calamos Global Convertible Fund (CXGCX)
The webcast will cover:
- Convertibles’ performance throughout the challenges of 2020, including their outperforming the S&P 500 (ICE BofA All U.S. Convertibles Index 2020 return of 46.22% versus S&P 500 18.40%).
- The structural benefits of risk-managed convertibles, including:
- Opportunity for upside equity participation
- Resilience to equity market downside
- Less vulnerability to rising interest rates than traditional bonds
- An overview of the U.S. and global convertible markets, including issuance, performance and credit quality
- A short course on convertible index construction
- Historical case studies: Navigating market corrections and compounding wealth with convertibles
Investment professionals, for more information about this event or about convertibles in general, contact your Calamos Investment Consultant at 888-571-2567 or caminfo@calamos.com.
Before investing, carefully consider the fund’s investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-866-363-9219. Read it carefully before investing.
An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.
Alternative investments may not be suitable for all investors, and the risks of alternative investments vary based on the underlying strategies used. Many alternative investments are highly illiquid, meaning that you may not be able to sell your investment when you wish to.
Some of the risks associated with investing in alternatives may include hedging risk—hedging activities can reduce investment performance through added costs; derivative risk- derivatives may experience greater price volatility than the underlying securities; short sale risk—investments may incur a loss without limit as a result of a short sale if the market value of the security increases; interest rate risk—loss of value for income securities as interest rates rise; credit risk—risk of the borrower to miss payments; liquidity risk—low trading volume may lead to increased volatility in certain securities; non-U.S. government obligation risk—non-U.S. government obligations may be subject to increased credit risk; portfolio selection risk—investment managers may select securities that fare worse than the overall market. Alternative investments may not be suitable for all investors.
Class I shares are offered primarily for direct investment by investors through certain tax-exempt retirement plans (including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and money purchase pension plans, defined benefit plans and non-qualified deferred compensation plans) and by institutional clients, provided such plans or clients have assets of at least $1 million. Class I shares may also be offered to certain other entities or programs, including, but not limited to, investment companies, under certain circumstances.
The principal risks of investing in the Calamos Convertible Fund include: convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk consisting of fluctuations inconsistent with a convertible security and the risk of components expiring worthless, foreign securities risk, equity securities risk, interest rate risk, credit risk, high yield risk, portfolio selection risk and liquidity risk. As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.
The principal risks of investing in the Calamos Global Convertible Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, currency risk, geographic concentration risk, American depository receipts, midsize company risk, small company risk, portfolio turnover risk and portfolio selection risk.
The principal risks of investing in Calamos Market Neutral Income Fund include: equity securities risk consisting of market prices declining in general, convertible securities risk consisting of the potential for a decline in value during periods of rising interest rates and the risk of the borrower to miss payments, synthetic convertible instruments risk, convertible hedging risk, covered call writing risk, options risk, short sale risk, interest rate risk, credit risk, high yield risk, liquidity risk, portfolio selection risk, and portfolio turnover risk.
The ICE BofA All U.S. Convertibles Index (VXA0) comprises approximately 700 issues of only convertible bonds and preferreds of all qualities.
The S&P 500 Index is generally considered representative of the U.S. stock market.
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Archived material may contain dated performance, risk and other information. Current performance may be lower or higher than the performance quoted in the archived material. For the most recent month-end fund performance information visit www.calamos.com. Archived material may contain dated opinions and estimates based on our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions at the time of publishing. We believed the information provided here was reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund’s maximum front-end sales load. Had it been included, the Fund’s return would have been lower.
Archived material may contain dated performance, risk and other information. Current performance may be lower or higher than the performance quoted in the archived material. For the most recent month-end fund performance information visit www.calamos.com. Archived material may contain dated opinions and estimates based on our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions at the time of publishing. We believed the information provided here was reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.
Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund’s maximum front-end sales load. Had it been included, the Fund’s return would have been lower.
Archived on January 21, 2022