Investment Team Voices

Bright Prospects for Convertibles in 2024

Jon Vacko, Joe Wysocki
January 4, 2024

Calamos Convertible Fund (CICVX) investment team members Jon Vacko and Joe Wysocki were excited to see convertible new issuance accelerate in 2023. Investment-grade companies were particularly active and came to the convertible market at a more rapid pace not seen in years. They believe the convertible market will broaden in 2024 as a sizable amount of traditional debt matures.

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A Sunny 2024 Outlook for Global Convertibles

Eli Pars
January 4, 2024

Eli Pars, CFA, believes new issues will be a potential bright spot for the convertible market and Calamos Global Convertible Fund (CXGCX) over the next year or two, with a particularly intriguing opportunity in investment-grade convertibles.

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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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The Fed’s Dovish Pivot: A Catalyst for Sustained Small Cap Strength

Brandon Nelson, CFA
January 4, 2024

Brandon Nelson, CFA, shares his perspective on the strong performance of small caps during the fourth quarter, his outlook and discusses how Calamos Timpani Small Cap Growth Fund (CTSIX) and Calamos Timpani SMID Growth Fund (CTIGX) are positioned for the opportunities he sees.

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Headwinds to Tailwinds: An Improved Horizon for Overseas Markets

Nick Niziolek, Dennis Cogan, Paul Ryndak, Kyle Ruge
January 4, 2024

Overseas markets have typically experienced their strongest relative performance during periods of US dollar weakness. The Calamos global investment team believes we are in the early innings of a weak-dollar cycle. Moreover, many overseas economies are in the earlier stages of their reopening cycles, and a plethora of economic reforms are providing support in emerging markets.

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Risk Management Will Matter More in 2024

Jim Madden, Tony Tursich, Beth Williamson
January 4, 2024

Going forward, the Calamos sustainable equities investment team believes good risk management is likely to be better compensated than brazen risk taking. Because the past 10 years are unlikely to be repeated, diversification will potentially pay off as investors focus on fundamentals and valuations.

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The Fed’s Pivot: Clear but Not an “All-Clear”

Matt Freund, Christian Brobst, Charles E. Carmody
January 4, 2024

We 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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Carbon Capture Technologies: The Industry Debate and Our View

Beth Williamson
November 28, 2023

As the annual UN climate meeting Conference of the Parties (COP28) approaches, the topic of Carbon Capture Technologies is predicted to spark debate amongst the sustainability community. The Calamos Sustainable Equities Team clarifies what carbon capture is, why it is controversial, and where we stand on it.

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