Investment Team Voices

A Normalizing Economic Backdrop Offers Capital Appreciation Opportunities

John Hillenbrand
January 4, 2024

John Hillenbrand, CPA, believes 2024 will be the beginning of the end of the normalization process as the extraordinary Covid measures unwind. Given expectations of slowing but positive economic growth over the next year, his team is assessing the investment opportunities for Calamos Growth and Income Fund (CGIIX), focusing on real growth and return-improvement areas.

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Finding Opportunities in a More Muted Growth Environment

John Hillenbrand
October 5, 2023

Over the short- and intermediate-term, improved real returns on capital can drive higher equity prices, and we see attractive long-term upside in the US equity market from current market levels, which we believe are at fair value for most US companies.

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In a Multispeed Economy, Improving ROIC Guides the Way

John Hillenbrand
July 3, 2023

We continue to see a divergence in growth in different parts of the economy and in corporate returns on capital for individual companies. Calamos Growth and Income Fund’s positioning emphasizes real growth tailwinds, companies with improving returns on capital in 2024, and equities and fixed income with valuations at favorable expected risk-adjusted returns.

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Selective Risk Exposure Remains Our Target

John Hillenbrand
April 3, 2023

Calamos Growth and Income Fund reflects selective risk positioning in specific areas that we believe have real growth tailwinds, in companies with improving returns on capital in 2023 and 2024, and in equities and fixed income with valuations at favorable expected risk-adjusted returns.

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Calamos Investment Team Outlooks, October 2021

John P. Calamos, Sr., Jon Vacko, Joe Wysocki, Brandon M. Nelson, Eli Pars, Jim Madden, Tony Tursich, Matt Freund, Christian Brobst, Charles E. Carmody, John Hillenbrand, Michael Grant, Nick Niziolek, Dennis Cogan, Paul Ryndak, Kyle Ruge, Michael Kassab, Bill Rubin
October 19, 2021

Inflation may be more persistent, and the pace of growth may be slowing, but our teams continue to identify many opportunities across asset classes. Senior members of our investment organization share their outlooks and discuss how they are positioning portfolios. With an introduction from John P. Calamos, Sr., Founder, Chairman and Global Chief Investment Officer.

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The CARES Act Should Limit Downside Risks and Set the Stage for a Faster Recovery

Equity Market Perspectives by John Hillenbrand
March 31, 2020

The CARES Act can reduce immediate downside risks as well as systematic shocks to the U.S. economy and financial system, says John Hillenbrand, Co-CIO and Senior Co-Portfolio Manager. He explains why he believes the Act will be successful in its overall goals, and some areas positioned to benefit from an investment standpoint.

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