Calamos Global Convertible Fund (CXGCX)

Overview

The fund invests in global convertible securities, striving to balance risk and reward while providing growth and income.

Key Features

  • Provides broadly diversified exposure to the global convertible bond universe
  • Leverages more than 40 years of research in convertible security investing
  • Seeks to provide upside participation in equity markets with less exposure to downside than an equity-only portfolio over a full market cycle
  • Blends global investment themes and fundamental research via active management
  • Takes environmental, social and governance (ESG) factors into account, evaluating whether they impact a company's cash flow, risk profile and long-term returns

Portfolio Fit

Consisting of convertible securities that participate in upside equity movements with limited downside exposure, the fund can provide a means to manage risk vis-a-vis an equity allocation. The fund can also serve a role within a fixed-income allocation, as convertibles have performed well during periods of rising interest rates and inflation.

Return on Invested Capital

As of 9/30/19
Name Gain
Fund 13.5013
Thomson Reuters Global Convertible Bond Index 10.7527

Debt/Capital

As of 9/30/19
Name Gain
Fund 42.5215
Thomson Reuters Global Convertible Bond Index 47.866

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Convertible Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, currency risk, geographic concentration risk, American depository receipts, mid-size company risk, small company risk, portfolio turnover risk and portfolio selection risk. As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Notes

Debt/Capital Ratio-Is a measure of a company's financial leverage, calculated as the company's debt divided by its total capital.

ROIC (Return On Invested Capital)-Measures how effectively a company uses the money invested in its operations, calculated as a company's net income minus any dividends divided by the company's total capital.

The Thomson Reuters Global Convertible Bond Index is designed to broadly represent the global convertible bond market.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 2.25%. Had it been included, the Fund's return would have been lower.

The funds' gross expense ratios as of the prospectus dated 3/1/2019 are as follows: A Shares 1.36%, C Shares 2.11% and I Shares 1.11%.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Fund Details
As of 10/18/19
Inception Date: 12/31/14
Current NAV: $10.89
$ Change: $-0.05
% Change: -0.46%
Total Net Assets (As of 9/30/19): $131.6 M
Morningstar Category: Convertibles

Zephyr Analysis

Zephyr Analysis

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Resources

Calendar Year Total Returns

As of 9/30/19
Date Calamos Global Convertible Fund (NAV) Thomson Reuters Global Convertible Bond Index
YTD 2019 9.4 9.81
2018 -2.73 -3.74
2017 14.45 12.83
2016 3.72 3.48
2015 -1.15 -2.11
2014* 0 0

*Reflects the fund's return from the inception date of 12/31/2014 through 12/31/2014.

Growth of 10K

As of 9/30/19
Date Calamos Global Convertible Fund Thomson Reuters Global Convertible Bond Index
12/31/2014 12:00:00 AM 10000 10000
1/31/2015 12:00:00 AM 9990 9915.1
2/28/2015 12:00:00 AM 10350 10220.98
3/31/2015 12:00:00 AM 10330 10124.6
4/30/2015 12:00:00 AM 10410 10384.6
5/31/2015 12:00:00 AM 10420 10467.67
6/30/2015 12:00:00 AM 10213.96 10269.94
7/31/2015 12:00:00 AM 10133.85 10231.84
8/31/2015 12:00:00 AM 9873.5 9929.38
9/30/2015 12:00:00 AM 9627.36 9675.59
10/31/2015 12:00:00 AM 9999.97 10025.75
11/30/2015 12:00:00 AM 9929.47 9855.91
12/31/2015 12:00:00 AM 9851.81 9789.29
1/31/2016 12:00:00 AM 9346.07 9327.53
2/29/2016 12:00:00 AM 9295.49 9331.91
3/31/2016 12:00:00 AM 9770.02 9799.25
4/30/2016 12:00:00 AM 9861.43 9914.2
5/31/2016 12:00:00 AM 9942.68 9903.69
6/30/2016 12:00:00 AM 9822.16 9834.56
7/31/2016 12:00:00 AM 10188.58 10191.26
8/31/2016 12:00:00 AM 10249.65 10216.64
9/30/2016 12:00:00 AM 10341.79 10294.08
10/31/2016 12:00:00 AM 10126.77 10100.34
11/30/2016 12:00:00 AM 10137.01 9989.75
12/31/2016 12:00:00 AM 10204.64 10129.8
1/31/2017 12:00:00 AM 10431.64 10346.07
2/28/2017 12:00:00 AM 10503.87 10491.43
3/31/2017 12:00:00 AM 10629.02 10556.17
4/30/2017 12:00:00 AM 10856.05 10750.19
5/31/2017 12:00:00 AM 11103.72 10911.98
6/30/2017 12:00:00 AM 11122.69 10907.94
7/31/2017 12:00:00 AM 11298.42 11190.57
8/31/2017 12:00:00 AM 11339.77 11173.56
9/30/2017 12:00:00 AM 11476.71 11252.55
10/31/2017 12:00:00 AM 11631.94 11394.45
11/30/2017 12:00:00 AM 11694.03 11460.2
12/31/2017 12:00:00 AM 11644.02 11429.48
1/31/2018 12:00:00 AM 11996.55 11911.35
2/28/2018 12:00:00 AM 11879.04 11710.17
3/31/2018 12:00:00 AM 11848.05 11667.66
4/30/2018 12:00:00 AM 11880.16 11641.64
5/31/2018 12:00:00 AM 11965.79 11750.37
6/30/2018 12:00:00 AM 11939.74 11679.4
7/31/2018 12:00:00 AM 11939.74 11719.34
8/31/2018 12:00:00 AM 12132.66 11875.21
9/30/2018 12:00:00 AM 12072.6 11837.21
10/31/2018 12:00:00 AM 11621.09 11238.84
11/30/2018 12:00:00 AM 11664.09 11322.46
12/31/2018 12:00:00 AM 11296.89 11001.46
1/31/2019 12:00:00 AM 11837.52 11613.48
2/28/2019 12:00:00 AM 12096.57 11876.87
3/31/2019 12:00:00 AM 12026.01 11879.6
4/30/2019 12:00:00 AM 12296.51 12090.94
5/31/2019 12:00:00 AM 11924.57 11731.79
6/30/2019 12:00:00 AM 12318.84 12212.72
7/31/2019 12:00:00 AM 12431.65 12262.61
8/31/2019 12:00:00 AM 12398.08 12149.5
9/30/2019 12:00:00 AM 12336.09 12081.02

Annualized Total Returns

As of 9/30/19
TimeFrame Calamos Global Convertible Fund (NAV) Thomson Reuters Global Convertible Bond Index
6 Month 2.71 1.7
1 Year 2.45 2.06
3 Year 6.31 5.48
Since Inception 4.79 4.06

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Convertible Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, currency risk, geographic concentration risk, American depository receipts, mid-size company risk, small company risk, portfolio turnover risk and portfolio selection risk. As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

10k Performance is for the Fund's Class A shares at net asset value and does not include the Fund's maximum front-end sales charge of 2.25%-had it been included, the Fund's return would have been lower. Index data shown is from 12/31/14, since comparative index data is available only for full monthly periods.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 2.25%. Had it been included, the Fund's return would have been lower.

ICE BofAML Global 300 Convertible Index-Is a global convertible index composed of companies representative of the market structure of countries in North America, Europe and the Asia/Pacific region. Source ICE Data Indices, LLC, used with permission. ICE permits use of the ICE BofAML indices and related data on an 'as is' basis, makes no warranties regarding same, does not guarantee the suitability, quality, accuracy, timeliness, and/or completeness of the ICE BofAML Indices or data included in, related to, or derived therefrom, assumes no liability in connection with the use of the foregoing and does not sponsor, endorse or recommend Calamos Advisors LLC or any of its products or services.

The Thomson Reuters Global Convertible Bond Index is designed to broadly represent the global convertible bond market.

Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.

Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average. All performance shown assumes reinvestment of dividends and capital gains distributions.

The funds' gross expense ratios as of the prospectus dated 3/1/2019 are as follows: A Shares 1.36%, C Shares 2.11% and I Shares 1.11%.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Sector Weightings

As of 9/30/19
Sector % of Assets Thomson Reuters Global Convertible Bond Index
Information Technology 27.2% 20.7%
Communication Services 10.0% 14.5%
Financials 9.4% 7.5%
Consumer Discretionary 9.4% 10.6%
Health Care 8.7% 13.7%
Real Estate 6.6% 7.3%
Energy 4.9% 3.2%
Industrials 4.3% 8.8%
Materials 4.1% 6.1%
Consumer Staples 3.7% 1.5%
Utilities 2.8% 6.1%

Asset Allocation

As of 9/30/19
Asset Allocation
Convertibles 90.0855
US Government Securities 8.1528
Cash and Receivables/Payables 0.7357
Common Stock 0.5537
Options 0.4723

Month-End Yield

As of 9/30/19
Name %
30-day SEC yield 0.61%
Distribution Yield 5.11%

Top 10 Holdings

As of 9/30/19
Company Security Type Industry %
TOTAL, SA Convertible Bonds Integrated Oil & Gas 3.7%
Wells Fargo & Company Convertible Preferred Stocks Diversified Banks 2.9%
Basf Se Convertible Bonds Diversified Chemicals 2.9%
Bank Of America Corp. Convertible Preferred Stocks Diversified Banks 2.8%
Carrefour Sa Convertible Bonds Hypermarkets & Super Centers 2.8%
NXP Semiconductors, NV Convertible Bonds Semiconductors 2.0%
Corestate Capital Hold Convertible Bonds Real Estate Operating Companies 2.0%
GCI Liberty, Inc. Convertible Bonds Cable & Satellite 1.9%
Aurelius Equity Opportunities Convertible Bonds Asset Management & Custody Banks 1.9%
Tesla, Inc. Convertible Bonds Automobile Manufacturers 1.9%
Total 24.8%

Fund Facts

As of 9/30/19
Name Fund Thomson Reuters Global Convertible Bond Index
Number of Holdings 115 447
Debt/Capital 42.5% 47.9%
Duration 2.6 years N/A
Median Conversion Premium 31.7% 36.7%
Median Investment Premium 12.9% 6.5%
Portfolio Turnover (12 months) 44.0% N/A
ROIC 13.5% 10.8%
Net Assets $131.6 M N/A

Market Capitalization

As of 9/30/19
Market CAP Range % of Assets
<=$0.10bil 0.0%
>$0.10bil<=$5bil 0.0%
>$5bil<=$30bil 0.0%
>$30bil<=$200bil 0.0%
>$200bil 100.0%

Regional Exposure

As of 9/30/19
Region % of Assets
North America 58.5%
Europe 25.0%
Asia/Pacific 14.9%
Middle East/Africa 0.9%
Caribbean 0.0%
Latin America 0.0%

Top Country Exposures

As of 9/30/19
Country %
United States 58.5%
France 9.6%
Germany 6.9%
China 5.1%
Japan 4.6%
Luxembourg 3.7%
Netherlands 2.0%
New Zealand 1.6%
India 1.5%
South Korea 1.5%

Top Currency Exposures

As of 9/30/19
Currency %
United States Dollar (USD) 83.1%
Euro (EUR) 11.2%
Japanese Yen (JPY) 4.7%
South Korean WON (KRW) 1.0%
British Pound Sterling (GBP) 0.0%
Hong Kong Dollar (HKD) 0.0%
Swiss Franc (CHF) 0.0%
Singapore Dollar (SGD) 0.0%
Australian Dollar (AUD) 0.0%
China Renminbi (Yuan) (CNY) 0.0%

Credit Quality of Bonds

As of 9/30/19
Class %
AAA 8.3%
AA 3.8%
A 4.5%
BBB 9.0%
BB 7.2%
B 5.6%
CCC and below 0.6%
Unrated Securities 61.0%

Maturity Schedule

As of 9/30/19
Range %
< 1 Year 10.2%
1 to 5 Years 61.5%
5 to 10 Years 13.5%
10 to 20 Years 0.5%
20 to 30 Years 0.0%
> 30 Years 0.0%
Equities and Other 14.2%

Bond Duration

As of 9/30/19
Name Duration
Weighted Avg. Duration 2.6 years
Weighted Avg. Maturity 3.3 years

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Convertible Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, currency risk, geographic concentration risk, American depository receipts, mid-size company risk, small company risk, portfolio turnover risk and portfolio selection risk. As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Top 10 Holdings and Sector Weightings are calculated as a percentage of Net Assets. The tables exclude cash or cash equivalents, any government / sovereign bonds or broad based index hedging securities the portfolio may hold.

Holdings and weightings are subject to change daily. Holdings are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned.

Notes

Bond Credit Quality allocation reflects the higher of the ratings of Standards & Poor's Corporation or Moody's Investors Service, Inc. Ratings are relative, subjective and not absolute standards of quality, represent the opinions of the independent, Nationally Recognized Statistical Rating Organizations (NRSRO), and are adjusted to the Standards & Poor's scale shown. Ratings are measured using a scale that typically ranges from AAA (highest) to D (lowest). The security's credit rating does not eliminate risk. The table excludes equity securities, cash and cash equivalents. For more information about securities ratings, please see the Fund's Statement of Additional Information at calamos.com. Additional information on ratings methodologies are available by visiting the NRSRO websites: www.standardandpoors.com and www.moodys.com.

Conversion Premium- is the amount by which the market price of a convertible bond or convertible preferred exceeds the conversion value, expressed as a percentage. It is a gauge of equity participation.

Current (SEC) Yield-Reflects the dividends and interest earned by the Fund during the 30-day period ended as of the date stated above after deducting the Fund's expenses for that same period.

Debt/Capital Ratio-Is a measure of a company's financial leverage, calculated as the company's debt divided by its total capital.

Distribution Yield -Is calculated by dividing the sum of all distributions paid by the fund over the trailing 12 months by the fund's NAV as of the date of the period presented. Distributions may include income, short-term capital gains, and long-term capital gains. Short-term and long-term capital gains represent the net trading profits realized over the trailing 12 months in the fund and are not guaranteed. Distribution Yield is based on distributions made in the past and is therefore not reflective of the fund's current portfolio.

Duration- provides a measure of the Fund's interest rate sensitivity-the longer a fund's duration, the more sensitive it is to shifts in interest rates

Investment Premium-is the amount that the market price of the convertible is above its investment value, expressed as a percentage. It is a gauge of equity participation.

PEG Ratio-Is a stock's price/earnings ratio divided by estimated earnings growth rate in the next year; a lower PEG indicates that less is being paid for each unit of earnings growth.

Price/Book Ratio-Is the stock's capitalization divided by its book value.

Price/Earnings Ratio-Is the current stock price over trailing 12-month earnings per share.

Price/Sales Ratio-Is a stock's capitalization divided by its sales over the trailing 12 months. ROIC (return on invested capital) measures how effectively a company uses the money invested in its operations, calculated as a company's net income minus any dividends divided by the company's total capital.

ROIC (Return On Invested Capital)-Measures how effectively a company uses the money invested in its operations, calculated as a company's net income minus any dividends divided by the company's total capital.

Turnover-Is the percentage of assets in a portfolio that changed over a certain period, often a year; higher turnover indicates greater buying and selling activity.

The Thomson Reuters Global Convertible Bond Index is designed to broadly represent the global convertible bond market.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Total Capital Gains

Year Capital Gains
2015 0.0000
2016 0.0000
2017 0.3382
2018 0.3110

Schedule

Name Frequency
Distributions QUARTERLY
Capital Gains ANNUAL

Distributions

Frequency Income Total Reinvest
Q3 2019 $0.0427 $0.0427 11.03000
Q2 2019 $0.0170 $0.0170 10.76000
Q1 2019 $0.0133 $0.0133 10.68000
Q4 2018 $0.1734 $0.1734 9.99000
Q3 2018 $0.0420 $0.0420 11.22000
Q2 2018 $0.0224 $0.0224 11.35000
Q1 2018 $0.0279 $0.0279 11.29000
Q4 2017 $0.0175 $0.0175 10.82000
Q3 2017 $0.0181 $0.0181 11.02000
Q2 2017 $0.0436 $0.0436 10.73000
Q1 2017 $0.0071 $0.0071 10.30000
Q4 2016 $0.0819 $0.0819 9.87000
Q3 2016 $0.0664 $0.0664 9.97000
Q2 2016 $0.0273 $0.0273 9.74000
Q1 2016 $0.0439 $0.0439 9.55000
Q4 2015 $0.0470 $0.0470 9.70000
Q3 2015 $0.0616 $0.0616 9.91000
Q2 2015 $0.0181 $0.0181 10.39000

Important Fund Information

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Convertible Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, currency risk, geographic concentration risk, American depository receipts, mid-size company risk, small company risk, portfolio turnover risk and portfolio selection risk. As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

Performance data quoted represents past performance, which is no guarantee of future results. Current performance may be lower or higher than the performance quoted. Please refer to Important Risk Information. The principal value and return of an investment will fluctuate so that your shares, when redeemed, may be worth more or less than their original cost. Performance reflected at NAV does not include the Fund's maximum front-end sales load of 2.25%. Had it been included, the Fund's return would have been lower.

The funds' gross expense ratios as of the prospectus dated 3/1/2019 are as follows: A Shares 1.36%, C Shares 2.11% and I Shares 1.11%.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

Annual Expenses

Name A Shares C Shares I Shares
Gross Expense Ratio 1.36% 2.11% 1.11%
Net Expense Ratio 1.36% 2.11% 1.11%

Investment Information

Name A Shares C Shares I Shares
Minimum initial investment $2500 $2500 $1 million
Minimum subsequent investments $50 $50 $0
IRA initial investments $500 $500 N/A

Fund Information

Name A Shares C Shares I Shares
Inception Date 12/31/14 12/31/14 12/31/14
Ticker Symbol CAGCX CCGCX CXGCX
CUSIP number 128120748 128120730 128120722

Sales & Distribution

Name A Shares C Shares I Shares
Sales Load Front-End Level-Load N/A
Maximum Sales Charge 2.25 1.00 N/A
US Bank Fund Number 2971 2972 2973
Dividends QUARTERLY QUARTERLY QUARTERLY
Capital Gains ANNUAL ANNUAL ANNUAL

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

The principal risks of investing in the Calamos Global Convertible Fund include: equity securities risk consisting of market prices declining in general, growth stock risk consisting of potential increased volatility due to securities trading at higher multiples, foreign securities risk, emerging markets risk, currency risk, geographic concentration risk, American depository receipts, mid-size company risk, small company risk, portfolio turnover risk and portfolio selection risk. As a result of political or economic instability in foreign countries, there can be special risks associated with investing in foreign securities, including fluctuations in currency exchange rates, increased price volatility and difficulty obtaining information. In addition, emerging markets may present additional risk due to potential for greater economic and political instability in less developed countries.

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by S&P Global Market Intelligence LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. "CUSIP" is a registered trademark of the American Bankers Association.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Read it carefully before investing.

calamos-global-convertible-fund-mutual-fund-quarterly-commentary.pdf
Calamos Global Convertible Fund Quarterly Commentary

A quarterly update of the Calamos Global Convertible Fund’s performance, positioning, related market commentary and outlook.

calamos-global-convertible-mutual-fund-fact-sheet.pdf
Calamos Global Convertible Fact Sheet

The Global Convertible Fund fact sheet provides a snap shot of the investment team, the fund strategy, performance, composition, and returns.

opportunity-of-convertible-securities.pdf
The Opportunity of Convertible Securities

Like stocks, convertibles typically offer upside appreciation in rising equity markets. Like bonds, convertibles provide income and potential downside protection in declining markets.

calamos-convertibles-can-ehance-fixed-income-allocation.pdf
Convertibles Can Enhance a Fixed Income Allocation

Convertible bonds are a viable alternative to fixed income and have outperformed during periods of economic growth and rising rate.

ConvertibleSecurities.pdf
Convertible Securities: Structures, Valuation, Market Environment, and Asset Allocation

A comprehensive overview of convertible securities, including history, structures, valuation, market environment, and roles within asset allocation.

calamos-global-convertible-fund-summary-prospectus.pdf
Calamos Global Convertible Fund Prospectus

This summary contains important information about the Class A, C, and I Global Convertible Fund investment objective, fees and expenses, principal investment strategies, principal risks and performance.

calamos-mutual-fund-statutory-prospectus.pdf
Statutory Prospectus

You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities.

calamos-mutual-fund-sai.pdf
SAI

The statement of additional information is a supplementary document to the fund’s prospectus and contains additional information about the fund and includes further disclosure regarding its operations.

calamos-mutual-funds-semi-annual-report.pdf
Semi-Annual Report

The semi-annual report includes a letter from John P. Calamos, Sr. to shareholders and provides a comprehensive review of the fund’s activities and financial performance over a six month period.

calamos-mutual-funds-annual-report.pdf
Annual Report

The annual report includes a letter from John P. Calamos, Sr. to shareholders outlining the fund's performance, as well as a comprehensive review of the fund’s activities and financial performance.