After a strong year of convertible issuance in 2024, we remain optimistic about 2025 as companies seek growth capital in a higher-interest-rate environment. We emphasize securities that balance upside equity participation with downside protection, particularly in the technology and consumer discretionary sectors.
Read PostFor 2024, Calamos Global Convertible Fund posted a gain of 10.98%, well ahead of its benchmark index. A fourth-quarter surge pushed full-year convertible issuance to $119 billion, making it one of the best years of the past decade. We expect a broadening of the equity market to benefit issuers in 2025.
Read PostThe economy has entered a mid-cycle phase marked by Fed rate cuts and presidential policy shifts creating an environment where company-specific factors are increasingly crucial for investment decisions.
Read PostFollowing 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 PostDespite small caps lagging large caps in 2024, Calamos Timpani Small Cap Growth Fund and SMID Growth Fund outperformed their benchmarks owing to strong stock selection across sectors. We anticipate the potential for small-cap leadership in 2025 driven by earnings acceleration, attractive valuations, and increased merger-and-acquisition activity.
Read PostThe fund outperformed its benchmark by 600 basis points in 2024. Entering 2025, global markets face many crossroads, but we look forward to what lies ahead. With new US political leadership likely to challenge the status quo globally and continually evolving secular growth tailwinds, 2025 will likely be another great year to capitalize on disruption.
Read PostThe fund outperformed in 2024, and we look ahead to 2025 with optimism. We are focusing on AI’s evolution, international equity opportunities despite "America First" policies, European market potential, and emerging market resilience while maintaining a balance of secular growth, cyclical, and defensive positions.
Read PostEntering 2025, the fund’s overall positioning remains optimistic. We believe secular growth companies offer the most attractive way to compound returns over the long term, while over the shorter-to-medium term, these companies should benefit from falling inflation and reasonable growth.
Read PostThe fund outperformed its benchmark in 2024 by 700 basis points, and we look ahead to 2025 with optimism, focusing on AI evolution, international equity opportunities amid new US policies, and emerging market resilience while maintaining a balance between secular growth companies and complementary cyclical and defensive names.
Read PostAfter outperforming in 2024, Calamos International Growth Fund enters 2025 on an optimistic note despite Trump's election, anticipating opportunities in an evolving AI ecosystem and international markets where negative sentiment may have overshot, particularly as the impact of "America First" policies may not necessarily translate to overseas equity losses.
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