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 25, 2018

Equities in 2017: Why We Expect More Upside Than Downside

Easing Global Headwinds Point to Higher Equities in 2017

Noting that “the populist revolution emerged just as the global economy was on the mend,” the head of Calamos Global Long/Short Team is encouraging advisors to think more positively about the global economy.

“Populism has always been associated with reflationary impulses and reflation is good for equities,” writes Michael Grant, Senior Vice President and Senior Co-Portfolio Manager. The timing was “downright lucky” for U.S. President Donald Trump, he adds.

In his just published commentary “Easing Global Headwinds Point to Higher Equities in 2017,” Grant details the team’s expectations for 2017, including:

  • The U.S. economy is emerging from its mid-cycle slowdown. Reflation of the U.S. middle class could transform the U.S. durable cycle, Grant says. He expects more upside than downside for equities in 2017, predicting that drawdowns of more than 5% will be unlikely.
  • A few years behind the U.S., the eurozone is poised for a positive surprise—“European equities could comfortably outperform their U.S. counterparts this year,” according to Grant.
  • China is likely to struggle to adjust its growth model and “is a source of concern.” “The politics of trade are more of an issue for 2018, but the post-Cold War ‘free pass’ for China to develop its economy at the expense of the American middle classes is over,” Grant writes.

Join us at 4:30 p.m. EST Wednesday, February 8, for “Pursuing Returns in a Post-60/40 World,” with Michael Grant. Register for the webcast at www.calamos.com/CPLIXwebcast.

For more information, please talk to 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 1-800-582-6959. Read it carefully before investing.

This material is distributed for informational purposes only. The information contained herein is based on internal research derived from various sources and does not purport to be statements of all material facts relating to the information mentioned, and while not guaranteed as to the accuracy or completeness, has been obtained from sources we believe to be reliable.

Opinions, estimates, forecasts, and statements of financial market trends that are based on current market conditions constitute our judgment and are subject to change without notice. The views and strategies described may not be suitable for all investors. References to specific securities, asset classes and financial markets are for illustrative purposes only and are not intended to be, and should not be interpreted as, recommendations.

The Fund is actively managed and its portfolio is subject to change daily.

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.

An investment in the Fund is subject to risks, and you could lose money on your investment in the Fund there can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund 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 can increase during times of significant market volatility. The Fund also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund’s prospectus.


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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 performance information, please CLICK HERE. 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. For the most recent month-end fund performance information visit www.calamos.com.