In 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.
Read PostIn an environment where growth may prove increasingly scarce, we believe asset-light companies with the flexibility and financial strength to continue funding their growth initiatives—regardless of the economic backdrop—should be able to outperform. As a result, we continue to favor quality growth companies with stellar balance sheets and attractive free cash flows.
Read PostProgress on inflation and surprisingly resilient economic growth allowed the Federal Reserve to pause its rate hiking campaign at its September 20 meeting. We have been gradually increasing portfolio durations across strategies in expectation of peak-Fed policy rates and a greater likelihood that the next rate move is a cut.
Read PostFundamentals for investment-grade and high-yield credit may look strong on the surface but have become more mixed and defaults are increasing, which makes selectivity and a bond-by-bond approach essential.
Read PostAlthough the rally may slow, we expect leadership will broaden beyond the “Magnificent Seven” of mega-cap stocks, rewarding a broader group of companies with consistent cash flow generation and strong balance sheets. Calamos Growth Fund has significant positions in technology companies that are now viewed as key AI players.
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