Growth-led equities completed a V-shaped rebound in Q2 as tariff, recession, and data center spending fears proved overblown. Small caps lagged but strengthened in June. Calamos Timpani funds (CTSIX and CTIGX) outperformed benchmarks and peers through company-specific fundamental strength and accretive market conditions.
Read PostDuring a volatile quarter, Calamos Market Neutral Income Fund delivered positive performance across all sleeves—hedged equity, convertible arbitrage, SPAC arbitrage, and merger arbitrage. Our flexible allocation and volatility management positions the fund to capitalize on multiple outcomes while delivering the market-neutral strategy that has outperformed bonds long term.
Read PostThe second quarter demonstrated convertible market resilience amid policy stabilization, with robust issuance driven by companies seeking refinancing and growth capital. Our strategy focuses on identifying convertibles with asymmetric payoff profiles across themes like AI and cybersecurity, leveraging equity-like growth potential with bond-like downside protection.
Read PostCalamos Hedged Equity Fund delivered strong second-quarter 2025 performance by capturing over 60% of the S&P 500's 10.94% gain while maintaining defensive characteristics. Our approach enabled us to enhance the hedge structure at quarter-end by rolling positions forward and adjusting strike levels to deliver meaningful equity market participation with reduced downside risk in 2025.
Read PostThe investment landscape has transitioned from policy uncertainty to operational clarity, creating an environment where markets reward quality growth companies positioned for policy benefits and transformative themes like AI adoption. We believe our multi-asset structure—combining equities with convertible securities and options strategies—provides flexibility to capture opportunities and manage risk.
Read PostThe first half of 2025 showcased US market resilience with a V-shaped recovery following tariff deferrals. Investors now await clarity on tax policy, trade, and Fed direction to reduce uncertainty and sustain valuations. Our all-cap growth strategy spans themes from the Mag 7 to cybersecurity and AI, maintaining a positive bias while viewing drawdowns as opportunities.
Read PostThe Calamos Global Team shares its constructive outlook on international small-caps and the favorable tailwinds that can drive growth, such as exposure to country- and regional-specific themes and reduced vulnerability to tariffs.
Read PostApril 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.
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