April 2025 has proven a textbook case of a market panic and subsequent reversal. For Co-CIO Michael Grant, the diagnosis has not changed. The call of an authentic recession in the US is premature. Still, investors may have to live with fluctuating recession anxiety in America for some time.
Read PostSince the GFC, overseas capital generally headed to the US, but that dynamic is changing. Todd Speed, CFA, makes the case for diversification and committing more assets to non-US markets.
Read PostCo-CIO Eli Pars provides his perspective on market conditions, the positioning of Calamos Global Convertible Fund, and why he believes actively managed global convertibles can rise to the occasion of an uncertain and volatile environment.
Read PostDuring a volatile quarter, Calamos Hedged Equity Income Fund’s asymmetrical risk profile mitigated exposure to equity market downside. With elevated volatility in the forecast for the markets, Jason Hill speaks to the investment team’s conviction in the fund’s strategy.
Read PostOne of our team’s overarching principles is that we can’t predict what will happen in the markets, so we need to position Calamos Market Neutral Income Fund for as many outcomes as possible. This seems like an especially good approach in the current environment.
Read PostAs markets recover and earnings inflect (as we see in Europe), many international small-cap companies could benefit from an economic rebound, given these companies often have more exposure to local economic drivers. International small-cap valuations are also attractive relative to US small caps. Given their lack of coverage by the investment community, we believe our time-tested experience investing in small caps is a differentiator.
Read PostQ1 saw significant US market volatility from the administration’s fiscal and trade policies, plus China’s DeepSeek AI model raised questions about major AI players’ capex. In Europe, policymakers are increasing defense and innovation investment. China’s leadership shows growing support for consumers and innovative companies. These developments align with our approach of identifying companies poised to benefit from market shifts.
Read PostAs fiscal spending shifts from the US to abroad, we believe investors are excited about potential growth outside the US. In emerging markets, we see growing policy support for consumers in China and leadership backing of innovative companies. We welcome these developments, as our investment process is designed to quickly identify companies that can benefit most from inflections.
Read PostUS policies—from DOGE to tariffs—have introduced uncertainty into the US economic outlook and potentially a crack in the US-exceptionalism trade. The fund remains diversified across a range of cyclical and secular themes, and we are excited that the breadth of opportunities has expanded across the global market. This commentary examines how we have positioned the fund to benefit from these changing dynamics.
Read PostAfter years of investor reliance on US market exposure, tariff and fiscal policy changes may trigger capital migration to ex-US markets. Our investment process is designed to quickly identify companies poised to benefit from this major inflection. In this commentary, we examine how we have diversified the fund across cyclical and secular themes to capitalize on these changing dynamics.
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