IE00B296W404

Global Convertible Fund

Fund Stats

  • Total Net Assets

    $526.4 Million

    As of 31/10/24

  • MorningStar Rating

    4 stars

    Overall rating as of 31/10/24

  • Inception Date

    5/10/09

Portfolio Fit

Consisting of convertible securities that can participate in upside equity movements with potentially limited downside exposure, the fund can provide a means to manage risk in conjunction with 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.

Key Features

  • Provides broadly diversified exposure to the global convertible bond universe.
  • Leverages more than 45 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.

Overview

The UCITS fund invests in global convertible securities with the aim of balancing risk/reward while providing growth and income.The fund is actively managed and is suitable for long-term investors.The fund uses the FTSE Global Convertible Index and MSCI World Index as comparative benchmarks but not to constrain the fund's portfolio or as a target for performance.

Performance

Annualized Total Returns

As of 31/10/24
TimeFrame Calamos Global Convertible Fund (NAV) FTSE Global Convertible Index MSCI World Index
1 Year 18.17 19.68 34.29
3 Year -4.55 -1.67 6.90
5 Year 4.26 7.02 12.57
10 Year 3.93 5.51 10.36
Since Inception (05/10/09) 5.79 6.40 10.72

Calendar Year Total Returns

As of 31/10/24
Date Calamos Global Convertible Fund (NAV) FTSE Global Convertible Index MSCI World Index
YTD 2024 8.00 8.23 16.94
2023 9.03 12.44 24.42
2022 -23.38 -18.88 -17.73
2021 -1.86 1.02 22.35
2020 35.16 35.11 16.50
2019 11.23 16.47 28.40
2018 -5.24 -3.74 -8.20
2017 12.59 12.83 23.07
2016 2.37 3.48 8.15
2015 1.32 -2.11 -0.32

Important Fund Information

Performance data quoted represents past performance, and may not be a reliable guide to future results. Performance data quoted does not include the Fund's maximum 5% front-end sales charge. Had it been included, the Fund's returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. Returns for periods less than 12 months are not annualised.

The FTSE Global Convertible Index is designed to broadly represent the global convertible bond market.

The MSCI World Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets.

Unmanaged index returns, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.

Portfolio

Sector Weightings

As of 31/10/24
Sector % of Assets FTSE Global Convertible Index
Consumer Discretionary 27.9% 17.3%
Information Technology 22.9% 23.3%
Health Care 9.7% 9.8%
Industrials 9.4% 11.6%
Financials 7.0% 10.0%
Energy 5.1% 1.7%
Consumer Staples 3.7% 1.8%
Utilities 3.2% 7.8%
Materials 2.4% 3.9%
Real Estate 1.7% 4.6%
Communication Services 1.0% 8.0%
Other 2.6% 0.0%

Asset Allocation

As of 31/10/24
Asset Allocation %
Convertibles 93.9706
Cash and Receivables/Payables 3.3635
Synthetic Convertibles 2.6659
Common Stock 0

Top 10 Holdings

As of 31/10/24
Company Security Type Industry %
Alibaba Group Holding, Ltd. Convertible Bonds Broadline Retail 4.4%
Boeing Company DECS,ACES,PRIDES Aerospace & Defense 3.3%
JD.com, Inc. Convertible Bonds Broadline Retail 3.3%
Trip.com Group, Ltd. Convertible Bonds Hotels, Resorts & Cruise Lines 2.2%
MakeMyTrip, Ltd. Convertible Bonds Hotels, Resorts & Cruise Lines 2.1%
NCL Corp., Ltd. Convertible Bonds Hotels, Resorts & Cruise Lines 1.9%
Eni S.p.A. Convertible Bonds Integrated Oil & Gas 1.9%
Morgan Stanley Finance, LLC Convertible Bonds Diversified Banks 1.7%
Rivian Automotive, Inc. Convertible Bonds Automobile Manufacturers 1.7%
Apollo Asset Management, Inc. DECS,ACES,PRIDES Diversified Financial Services 1.7%

Fund Facts

As of 31/10/24
Name Fund FTSE Global Convertible Index
Net Assets $526.4 M N/A
Number of Holdings 111 510
Debt/Capital 53.9% 55.4%
ROIC 14.5% 13.4%
Duration 1.6 years N/A
Median Conversion Premium 36.3% 42.7%
Median Investment Premium 11.7% 7.9%

Regional Exposure

As of 31/10/24
Region % of Assets
North America 59.5%
Asia/Pacific 23.7%
Europe 12.1%
Middle East/Africa 1.3%
Caribbean 0.0%
Latin America 0.0%

Country Exposure

As of 31/10/24
Country %
United States 59.1%
China 11.3%
Italy 4.1%
France 4.0%
Japan 3.6%
South Korea 2.9%
India 2.1%
Netherlands 1.5%
Germany 1.4%
Israel 1.3%

Currency Exposure

As of 31/10/24
Currency %
United States Dollar (USD) 81.7%
Euro (EUR) 12.5%
Japanese Yen (JPY) 3.8%
British Pound Sterling (GBP) 0.8%
Australian Dollar (AUD) 0.7%
Hong Kong Dollar (HKD) 0.6%
Taiwan Dollar (TWD) 0.0%
Swiss Franc (CHF) 0.0%
Singapore Dollar (SGD) 0.0%
Canadian Dollar (CAD) 0.0%

Distributions

Total Capital Gains

A distribution has not been paid since the Fund's inception.

Schedule

Name Frequency
Distributions ANNUAL
Capital Gains ANNUAL

Fees & Expenses

Annual Expenses

Name I Shares
Gross Expense Ratio 1.22%
Management Fee 1.05%

Investment Information

Name I Shares
Minimum initial investment (£/€/$) $1 million
Minimum subsequent investments (£/€/$) $0

Fund Information

Name I Shares
Inception Date 5/10/09
Bloomberg Ticker CAGOIEA ID
CUSIP number G39118222
ISIN number IE00B296W404

Literature

Fact Sheet (Share Class A, C, I) - English

The Global Convertible fact sheet provides a snapshot of the investment team, the fund strategy, performance, composition, ratings and returns.

Fact Sheet (Share Class A, C, I) - Spanish

The Global Convertible fact sheet provides a snapshot of the investment team, the fund strategy, performance, composition, ratings and returns.

Fact Sheet (Share Class Z)

The Global Convertible fact sheet provides a snapshot of the investment team, the fund strategy, performance, composition, ratings and returns.

Fact Sheet (Share Class I, Z)

The Global Convertible fact sheet provides a snapshot of the investment team, the fund strategy, performance, composition, ratings and returns.

Fact Sheet (Share Class I, Z CHF)

The Global Convertible fact sheet provides a snapshot of the investment team, the fund strategy, performance, composition, ratings and returns.

Prospectus

This prospectus sets forth concisely the information that you should know before investing. You should read the accompanying simplified prospectus, which contains important information, before deciding whether to invest in our securities.

SFDR Disclosure

Transparency Statement under Article 10 of the Sustainable Finance Disclosure Regulation (EU) 2019/2088

KIIDS

The key Investor Information Document (KIID) aims to provide investors with a transparent and concise overview of funds in a standard format.

Annual Report

The annual report includes a comprehensive review of the fund’s activities and financial performance.

Semi-annual Report

The semi-annual report provides a comprehensive review of the fund’s activities and financial performance for a six month period.

Investment Manager Commentary, October 2024

Global convertibles can be an attractive choice for participating in the upside while mitigating downside risk. Even with the Fed moving to cut rates, there’s still an incentive for companies to issue convertibles to lower borrowing costs. If the equity market sees a relief rally after the US election, that could also drive a wave of new convertible issuance.

Global Convertible Market Update: Portfolio Manager Q&A

Senior co-portfolio managers Eli Pars and Joe Wysocki discuss the diverse opportunities in the global convertible market. They explain how convertible securities can provide tailwinds to help investors counter the headwinds of rising rates and equity market volatility.

The Case for Strategic Convertible Allocations

John P. Calamos, Sr. and Eli Pars discuss the role of convertible securities within portfolios, the value of active management, and encouraging global trends within the convertible market.

Quarterly Commentary

A discussion of the Global Convertible Fund's performance versus a benchmark, positioning, related market commentary, and outlook.

Convertible Securities: Potential Advantages in Rising Interest Rate Environments

Convertible securities have fixed-income qualities and can be affected by rising interest rates, but they have also demonstrated a resiliency to rising rates due to their equity characteristics.

Convertible Securities: Potential Advantages in Rising Interest Rate Environments - Spanish

Convertible securities have fixed-income qualities and can be affected by rising interest rates, but they have also demonstrated a resiliency to rising rates due to their equity characteristics.

Convertible Bonds: Combining the Advantages of Stocks and Bonds

Convertible bonds are considered a hybrid security: Like stocks, they offer the potential of capital appreciation. Like bonds, they offer the potential for interest income and downside risk mitigation.

Convertible Bonds: Combining the Advantages of Stocks and Bonds - Spanish

Convertible bonds are considered a hybrid security: Like stocks, they offer the potential of capital appreciation. Like bonds, they offer the potential for interest income and downside risk mitigation.

Calamos Financial Services LLC, Distributor

Check the background of the firm and its investment professionals on FINRA's BrokerCheck.

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 1-866-363-9219. Read it carefully before investing.

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