Where the Growth Is: Sept. 24 Webcast to Focus on Small Cap Opportunities
September 4, 2019
Financial advisors, on September 24 we invite you to take an hour-long break from worrying about the UK leaving the European Union, Germany’s billion-dollar sale of 30-year negative yielding bonds and even the U.S./China trade negotiations. Join our “Finding Growth in a Low-Growth World” webcast (register here) to learn about investing opportunities with the potential to benefit your clients’ investment portfolios over the long-term.
“There’s a lot of macro noise out there,” says Brandon M. Nelson, Calamos Senior Portfolio Manager. “But it’s possible to focus too much on the macro. It’s not just about the macro. Yes, macro is important, and we do our best to navigate it. But there are a lot of company-specific situations that are looking great right now.”
As the leader of the Calamos Timpani Small Cap Growth (CTSIX) portfolio management team, Nelson is specifically enthusiastic about small cap growth opportunities in what he calls a “fantastic” market.
“Stocks with positive fundamental momentum are being disproportionately rewarded. Stocks with poor fundamental momentum are being punished disproportionately,” says Nelson. “Despite the crazy daily headlines, we’re in a healthy, normal environment where company-specific fundamentals matter and thus stock-picking matters.”
Here’s a quick preview of what Nelson and Ryan B. Isherwood, Senior Research Analyst, will discuss during the webcast:
- The current disparity between valuations of large and small caps—small caps haven’t looked this cheap versus large caps since 2003. Such lopsidedness has historically corrected in dramatic fashion, according to Nelson.
- Small caps tend to be insulated from trade tensions and global sluggishness because they’re less reliant on non-U.S. economies. About 20% of revenues and sales for Russell 2000 Growth companies came from outside of the U.S. while CTSIX was even more domestic, with just 15% non-U.S exposure (as of 6/30/19).
- Where the opportunities are, and how actively managed CTSIX is finding them. “From a micro perspective, we're seeing a lot of fundamental momentum across a variety of sectors—most notably technology, healthcare and consumer discretionary,” says Nelson.
- How the team takes action when there’s evidence of fundamental fatigue. Key to the CTSIX’s winning ways is its sell discipline, whose proven results you’ll hear all about.
Financial advisors, to learn more about where CTSIX is finding growth in this low growth world, join us at 2 p.m. EDT Tuesday, September 24, for an Advisor Perspectives-produced webcast.
Click here to view CTSIX's standardized performance.
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Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is 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.
Important Risk Information. 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.
The principal risks of investing in the Calamos Timpani 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, and portfolio selection risk.
The Fund invests in small capitalization companies, which are often more volatile and less liquid than investments in larger companies. 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 Russell 2000 Growth Index is a composite of small cap companies located in the U.S. that also exhibit a growth probability.
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 September 04, 2020