In a challenging year for investors when stocks* were down more than 17% through October and bonds** were not far behind (-16.15%), Calamos Market Neutral Income Fund (CMNIX) provided a better than 1000-basis point return advantage (-5.57%).
With the S&P 500 in the longest bear market since the 2007-2009 collapse and bonds experiencing their worst market ever, CMNIX’s performance YTD has demonstrated the diversifying role it can play in an allocation.
Investment professionals joined us December 6 for a review of 2022 and a look ahead to the new year with Eli Pars, CFA, Co-CIO, Head of Alternative Strategies, Co-Head of Convertible Strategies, and Senior Co-Portfolio Manager. Listen to the replay and Q&A with Eli here.
*S&P 500 Index
**Bloomberg US Government/Credit Bond Index
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 1-800-582-6959. Read it carefully before investing.
The principal risks of investing in the 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 Bloomberg US Government/Credit Bond Index comprises long-term government and investment-grade corporate debt securities and is generally considered representative of the performance of the broad US bond market. Unlike convertible bonds, US Treasury bills are backed by the full faith and credit of the US government and offer a guarantee as to the timely repayment of principal and interest.
S&P 500 Index is generally considered representative of the US stock market.