Introducing Calamos International Small Cap Growth Fund (CSGIX)
Calamos International Small Cap Growth Fund (CSGIX), launched today, provides investors exposure to an asset class typically under-represented in clients’ portfolios, offering the potential for significant equity upside.
CSGIX offers:
- Meaningful diversification. International small cap stocks are less correlated to the US large and small cap markets, which makes them a substantive means for diversifying a portfolio. Non-US small caps are tied more closely to their local economy, serve different customers, operate in different macroeconomic environments and thereby provide a different source of earnings, according to Co-CIO, Head of Global Strategies and Senior Co-Portfolio Manager Nick Niziolek. The fund will invest in companies with superior earnings growth potential coupled with financial strength and flexibility.
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The potential to add alpha. The international small cap universe has the most stocks and fewest analysts per stock. This lack of coverage creates an opportunity for the Calamos Global team to uncover misunderstood or ignored companies, recognizing opportunity in advance of the market, and flexibility.
- The potential for attractive risk-adjusted returns. Over time, international small cap stocks have delivered higher returns with similar volatility versus international large caps.
- An offset to a large cap bias found in most international allocations. While most investors are overweight non-US funds benchmarked against broad international indexes, small cap exposures are estimated at less than 1%.
The new fund builds on the team's historical success in identifying smaller cap companies within several secular themes—mobile and connectivity, mass digitization, artificial intelligence and automation, global demographic shifts and advances in nanotech, biotech, and genetics—that were significant contributors to other funds in the Global suite (see landing page).
CSGIX becomes the 50th fund in Morningstar’s Foreign Small/Mid Growth category, 12 of which are closed to new investors.
Investment professionals, for more information about CSGIX, please reach out to your 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 1-800-582-6959. Read it carefully before investing.
The principal risks of investing in the Calamos International Small Cap Growth 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, small and mid-sized company risk and portfolio selection 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 Fund invests in small capitalization companies, which are often more volatile and less liquid than investments in larger companies.
Morningstar Foreign Small/Mid-Growth Category funds invest in international stocks that are smaller, growing faster, and higher-priced than other stocks. These portfolios primarily invest in stocks that fall in the bottom 30% of each economically integrated market (such as Europe or Asia ex-Japan). Growth is defined based on fast growth (high growth rates for earnings, sales, book value, and cash flow) and high valuations (high price ratios and low dividend yields). These portfolios typically will have less than 20% of assets invested in US stocks.
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