Following strong market performance in 2024, Calamos Growth Fund expects continued but more selective market growth as we head into 2025. Our investment success will likely require greater emphasis on fundamental analysis and active management.
Read PostAs the Fed is expected to cut rates to around 3.5% by the end of 2025 while inflation remains above target, Calamos fixed-income funds are positioning for a steeper yield curve and migrating to higher credit quality. We are maintaining selective exposure to high-yield opportunities and adjusting durations based on conditions.
Read PostGrowth stocks, on the whole, have less room to run on further multiple expansion going forward. Our strategy advocates for a barbell approach, balancing exposure to secular growth themes with more defensive, high-quality names that can provide stability in periods of volatility.
Read PostFundamentals and a more dovish Fed seem to indicate that a soft landing can be achieved, and negative nominal GDP growth is becoming less likely. But credit spreads are priced to perfection, and we are using the market opportunity to position portfolios more defensively.
Read PostIn this complex environment, we are focusing on risk management and identifying high-quality companies capable of generating substantial cash flow and earnings growth while maintaining flexible financial positions. As AI permeates the economy, we anticipate investment prospects beyond the technology sector.
Read PostThe long-awaited economic slowdown has yet to arrive, and the US consumer continues to outshine the rest of the economic world. Even so, we see signs of slower domestic economic conditions emerging. We continue to migrate portfolio credit quality higher across the Calamos fixed-income funds.
Read PostEmerging themes from 2023 have multidecade potential, and we seek to uncover new ways to capture this secular growth potential in the Calamos Growth Fund (CGRIX) portfolio.
Read PostTypically, when the markets anticipate more rate cuts than we believe possible, we would position our funds with durations shorter than their benchmarks. However, our expectation for a steeper curve has led us to position Calamos Total Return Bond Fund (CTRIX) and Calamos Short-Term Bond Fund (CSTIX) with neutral to slightly long durations.
Read PostThe investment team of Calamos Growth Fund (CGRIX) explain why they believe the fund will be well served by its focus on what they consider to be quality growth companies, including positions in leading technology companies and health care innovators.
Read PostWe believe that the economy avoids recession altogether in 2024 and maintains a shallow growth trajectory with inflation falling below 3%, supporting our expectation that the fed funds rate will end the year roughly 100 basis points lower. Mindful of the risks in a decelerating economy, we continue to migrate the credit qualities of the Calamos fixed income funds higher.
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