Global Convertible Fund (IE00B296W172)

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 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.

Overview

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

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.

This webpage is issued by Calamos Advisors LLC ("CAL") and does not constitute or form part of any offer or invitation to buy or sell shares. It should be read in conjunction with the Fund's Prospectus, key investor information document ("KIID") or offering memorandum. CAL is authorised and regulated by the United States Securities and Exchange Commission. The Company's registered office is 2020 Calamos Court, Naperville, IL 60563. The price of shares and income from them can go down as well as up and past performance is not a guide to future performance. Investors may not get back the full amount originally invested. A comprehensive list of risk factors is detailed in the Prospectus and KIID and an investment should not be contemplated until the risks are fully considered. The Prospectus and KIID can be viewed at http://www.calamos.com/funds/ucits and at www.geminicapital.ie The contents of this document are based upon sources of information believed to be reliable. CAL has taken reasonable care to ensure the information stated is accurate. However, CAL makes no representation, guarantee or warranty that it is wholly accurate and complete. The Calamos Global Convertible Fund is a subfund of GemCap Investment Funds (Ireland) plc, an umbrella type open-ended investment company with variable capital, incorporated on 1 June 2010 with limited liability under the laws of Ireland with segregated liability between sub-funds. GemCap Investment Funds (Ireland) plc is authorised in Ireland by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No. 352 of 2011) (the "UCITS Regulations"), as amended. Gemini Capital Management (Ireland) Limited, trading as GemCap, is a limited liability company registered under the registered number 579677 under Irish law pursuant to the Companies Act 2014 which is regulated by the Central Bank of Ireland. Its principal office is at Ground Floor, 118 Rock Road, Booterstown, A94 V0Y, Co. Dublin and its registered office is at 1 WML, Windmill Lane, Dublin 2, D02 F206. GemCap acts as both management company and global distributor to GemCap Investment Funds (Ireland) plc. GemCap UK Limited (FRN 924419) is an appointed representative of Connexion Capital LLP (FRN 480006), which is authorised and regulated by the Financial Conduct Authority and provides distribution oversight services to GemCap acting as global distributor and is responsible for the oversight of all distribution arrangements for the sub-fund.

Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The "Since Inception" total return start date for the index information is 31/10/2009, since comparative index data is available only for full monthly periods. The "Since Inception" start date for the Fund is 5/10/2009.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC. 

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.

The Fund is offered solely to non-U.S. investors under the terms and conditions of the fund's current prospectus. The prospectus contains important information about the Fund and should be read carefully before investing. A copy of the full and simplified prospectus for the Fund may be obtained by visiting www.calamos.com/global, or by contacting the local Paying Agent listed by jurisdiction at www.calamos.com/global, or through the fund's Transfer Agent, RBC Investor Services Ireland Limited.

Morningstar RatingsTM are based on risk-adjusted returns and are through 6/30/21 for the share class listed and will differ for other share classes. Morningstar ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly historical performance (reflecting sales charges), placing more emphasis on downward variations and rewarding consistent performance. Within each asset class, the top 10%, the next 22.5%, 35%, 22.5%, and the bottom 10% receive 5, 4, 3, 2 or 1 star, respectively. Each fund is rated exclusively against U.S. domiciled funds. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Source: ©2021 Morningstar, Inc.

Morningstar Convertible Bond - Global Category funds invest principally in convertible securities of issuers from around the world.

Fund Details

Inception Date: 05/10/09
Total Net Assets (As of 30/6/21): $660.3 M
Morningstar Category: Convertible Bond - Global

Morningstar Rating

Morningstar Overall RatingTM Among 83 Convertible Bond - Global funds. The Fund's risk-adjusted returns based on load-waived Class I Shares USD Distributing had 4 stars for 3 years, 4 stars for 5 years and 5 stars for 10 years out of 83, 79 and 45 Convertible Bond - Global Funds, respectively, for the period ended 30/6/2021.

Resources

Annualized Total Returns

As of 30/6/21
TimeFrame Calamos Global Convertible Fund (NAV) Refinitiv Global Convertible Bond Index MSCI World Index
1 Year 28.31 34.05 39.67
3 Year 15.72 15.72 15.59
5 Year 13.51 12.97 15.44
10 Year 8.22 8.15 11.26
Since Inception 8.63 8.72 11.5

Calendar Year Total Returns

As of 30/6/21
Date Calamos Global Convertible Fund (NAV) Refinitiv Global Convertible Bond Index MSCI World Index
YTD 2021 2.56 4.54 13.33
2020 39.54 35.11 16.5
2019 14.52 16.47 28.4
2018 -3.24 -3.74 -8.2
2017 14.11 12.83 23.07
2016 3.84 3.48 8.15
2015 1.08 -2.11 -0.32
2014 3.04 1.71 5.5
2013 13.73 18.18 27.37
2012 4.86 13.33 16.54

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.

This webpage is issued by Calamos Advisors LLC ("CAL") and does not constitute or form part of any offer or invitation to buy or sell shares. It should be read in conjunction with the Fund's Prospectus, key investor information document ("KIID") or offering memorandum. CAL is authorised and regulated by the United States Securities and Exchange Commission. The Company's registered office is 2020 Calamos Court, Naperville, IL 60563. The price of shares and income from them can go down as well as up and past performance is not a guide to future performance. Investors may not get back the full amount originally invested. A comprehensive list of risk factors is detailed in the Prospectus and KIID and an investment should not be contemplated until the risks are fully considered. The Prospectus and KIID can be viewed at http://www.calamos.com/funds/ucits and at www.geminicapital.ie The contents of this document are based upon sources of information believed to be reliable. CAL has taken reasonable care to ensure the information stated is accurate. However, CAL makes no representation, guarantee or warranty that it is wholly accurate and complete. The Calamos Global Convertible Fund is a subfund of GemCap Investment Funds (Ireland) plc, an umbrella type open-ended investment company with variable capital, incorporated on 1 June 2010 with limited liability under the laws of Ireland with segregated liability between sub-funds. GemCap Investment Funds (Ireland) plc is authorised in Ireland by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No. 352 of 2011) (the "UCITS Regulations"), as amended. Gemini Capital Management (Ireland) Limited, trading as GemCap, is a limited liability company registered under the registered number 579677 under Irish law pursuant to the Companies Act 2014 which is regulated by the Central Bank of Ireland. Its principal office is at Ground Floor, 118 Rock Road, Booterstown, A94 V0Y, Co. Dublin and its registered office is at 1 WML, Windmill Lane, Dublin 2, D02 F206. GemCap acts as both management company and global distributor to GemCap Investment Funds (Ireland) plc. GemCap UK Limited (FRN 924419) is an appointed representative of Connexion Capital LLP (FRN 480006), which is authorised and regulated by the Financial Conduct Authority and provides distribution oversight services to GemCap acting as global distributor and is responsible for the oversight of all distribution arrangements for the sub-fund.

Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The "Since Inception" total return start date for the index information is 31/10/2009, since comparative index data is available only for full monthly periods. The "Since Inception" start date for the Fund is 5/10/2009.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC. 

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.

The Refinitiv Global Convertible Bond 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 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.

The Fund is offered solely to non-U.S. investors under the terms and conditions of the fund's current prospectus. The prospectus contains important information about the Fund and should be read carefully before investing. A copy of the full and simplified prospectus for the Fund may be obtained by visiting www.calamos.com/global, or by contacting the local Paying Agent listed by jurisdiction at www.calamos.com/global, or through the fund's Transfer Agent, RBC Investor Services Ireland Limited.

Sector Weightings

As of 30/6/21
Sector % of Assets Refinitiv Global Convertible Bond Index
Information Technology 31.0% 24.1%
Consumer Discretionary 18.2% 18.4%
Communication Services 12.8% 16.2%
Health Care 10.9% 11.4%
Industrials 6.2% 8.2%
Real Estate 5.1% 3.7%
Financials 4.2% 4.6%
Utilities 2.5% 6.0%
Consumer Staples 2.5% 1.2%
Materials 2.4% 4.6%
Energy 1.8% 1.6%
Other 0.6% 0.0%

Asset Allocation

As of 30/6/21
Asset Allocation %
Convertibles 97.3155
Cash and Receivables/Payables 1.8402
Synthetic Convertibles 0.8443
Common Stock 0

Top 10 Holdings

As of 30/6/21
Company Security Type Industry %
Carrefour, SA Convertible Bonds Hypermarkets & Super Centers 1.7%
Snap, Inc. Convertible Bonds Interactive Media & Services 1.6%
Wells Fargo & Company Convertible Preferred Stocks Diversified Banks 1.4%
Bank Of America Corp. Convertible Preferred Stocks Diversified Banks 1.3%
Royal Caribbean Cruises, Ltd. Convertible Bonds Hotels, Resorts & Cruise Lines 1.3%
Nexi S.p.A Convertible Bonds Data Processing & Outsourced Services 1.2%
Sea, Ltd. Convertible Bonds Interactive Home Entertainment 1.2%
BASF, SE Convertible Bonds Diversified Chemicals 1.2%
Snap, Inc. Convertible Bonds Interactive Media & Services 1.2%
Broadcom, Inc. DECS,ACES,PRIDES Semiconductors 1.1%

Fund Facts

As of 30/6/21
Name Fund Refinitiv Global Convertible Bond Index
Number of Holdings 169 587
Debt/Capital 46.2% 51.0%
Duration 2.2 years N/A
Median Conversion Premium 28.7% 22.9%
Median Investment Premium 18.2% 16.4%
ROIC 13.3% 13.0%
Net Assets $660.3 M N/A

Regional Exposure

As of 30/6/21
Region % of Assets
North America 60.2%
Europe 17.9%
Asia/Pacific 17.4%
Middle East/Africa 1.9%
Caribbean 0.7%
Latin America 0.0%

Country Exposure

As of 30/6/21
Country %
United States 58.0%
China 5.6%
Germany 5.3%
Japan 5.0%
France 4.4%
Canada 2.3%
Luxembourg 2.3%
Israel 1.9%
Italy 1.8%
India 1.4%

Currency Exposure

As of 30/6/21
Currency %
United States Dollar (USD) 79.3%
Euro (EUR) 11.9%
Japanese Yen (JPY) 5.1%
British Pound Sterling (GBP) 1.0%
Australian Dollar (AUD) 1.0%
Canadian Dollar (CAD) 0.9%
Swiss Franc (CHF) 0.5%
Hong Kong Dollar (HKD) 0.3%
Singapore Dollar (SGD) 0.0%
China Renminbi (Yuan) (CNY) 0.0%

Important Fund Information

This webpage is issued by Calamos Advisors LLC ("CAL") and does not constitute or form part of any offer or invitation to buy or sell shares. It should be read in conjunction with the Fund's Prospectus, key investor information document ("KIID") or offering memorandum. CAL is authorised and regulated by the United States Securities and Exchange Commission. The Company's registered office is 2020 Calamos Court, Naperville, IL 60563. The price of shares and income from them can go down as well as up and past performance is not a guide to future performance. Investors may not get back the full amount originally invested. A comprehensive list of risk factors is detailed in the Prospectus and KIID and an investment should not be contemplated until the risks are fully considered. The Prospectus and KIID can be viewed at http://www.calamos.com/funds/ucits and at www.geminicapital.ie The contents of this document are based upon sources of information believed to be reliable. CAL has taken reasonable care to ensure the information stated is accurate. However, CAL makes no representation, guarantee or warranty that it is wholly accurate and complete. The Calamos Global Convertible Fund is a subfund of GemCap Investment Funds (Ireland) plc, an umbrella type open-ended investment company with variable capital, incorporated on 1 June 2010 with limited liability under the laws of Ireland with segregated liability between sub-funds. GemCap Investment Funds (Ireland) plc is authorised in Ireland by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No. 352 of 2011) (the "UCITS Regulations"), as amended. Gemini Capital Management (Ireland) Limited, trading as GemCap, is a limited liability company registered under the registered number 579677 under Irish law pursuant to the Companies Act 2014 which is regulated by the Central Bank of Ireland. Its principal office is at Ground Floor, 118 Rock Road, Booterstown, A94 V0Y, Co. Dublin and its registered office is at 1 WML, Windmill Lane, Dublin 2, D02 F206. GemCap acts as both management company and global distributor to GemCap Investment Funds (Ireland) plc. GemCap UK Limited (FRN 924419) is an appointed representative of Connexion Capital LLP (FRN 480006), which is authorised and regulated by the Financial Conduct Authority and provides distribution oversight services to GemCap acting as global distributor and is responsible for the oversight of all distribution arrangements for the sub-fund.

Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The "Since Inception" total return start date for the index information is 31/10/2009, since comparative index data is available only for full monthly periods. The "Since Inception" start date for the Fund is 5/10/2009.

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.

Sector Weightings percentages are based on invested portfolio and are subject to change. Other includes securities that do not have a sector classification.

Notes

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

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

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 Refinitiv Global Convertible Bond Index is designed to broadly represent the global convertible bond market.

The Fund is offered solely to non-U.S. investors under the terms and conditions of the fund's current prospectus. The prospectus contains important information about the Fund and should be read carefully before investing. A copy of the full and simplified prospectus for the Fund may be obtained by visiting www.calamos.com/global, or by contacting the local Paying Agent listed by jurisdiction at www.calamos.com/global, or through the fund's Transfer Agent, RBC Investor Services Ireland Limited.

Total Capital Gains

Year Capital Gains
2015 0.0000
2017 0.0000
2018 0.0000
2019 0.0000
2020 0.0000
2021 0.0000

Schedule

Name Frequency
Distributions ANNUAL
Capital Gains ANNUAL

2020 Capital Gains
Capital gains for Calamos Global Funds PLC were declared on September 23, 2020. To view the report, click here.

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.

This webpage is issued by Calamos Advisors LLC ("CAL") and does not constitute or form part of any offer or invitation to buy or sell shares. It should be read in conjunction with the Fund's Prospectus, key investor information document ("KIID") or offering memorandum. CAL is authorised and regulated by the United States Securities and Exchange Commission. The Company's registered office is 2020 Calamos Court, Naperville, IL 60563. The price of shares and income from them can go down as well as up and past performance is not a guide to future performance. Investors may not get back the full amount originally invested. A comprehensive list of risk factors is detailed in the Prospectus and KIID and an investment should not be contemplated until the risks are fully considered. The Prospectus and KIID can be viewed at http://www.calamos.com/funds/ucits and at www.geminicapital.ie The contents of this document are based upon sources of information believed to be reliable. CAL has taken reasonable care to ensure the information stated is accurate. However, CAL makes no representation, guarantee or warranty that it is wholly accurate and complete. The Calamos Global Convertible Fund is a subfund of GemCap Investment Funds (Ireland) plc, an umbrella type open-ended investment company with variable capital, incorporated on 1 June 2010 with limited liability under the laws of Ireland with segregated liability between sub-funds. GemCap Investment Funds (Ireland) plc is authorised in Ireland by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No. 352 of 2011) (the "UCITS Regulations"), as amended. Gemini Capital Management (Ireland) Limited, trading as GemCap, is a limited liability company registered under the registered number 579677 under Irish law pursuant to the Companies Act 2014 which is regulated by the Central Bank of Ireland. Its principal office is at Ground Floor, 118 Rock Road, Booterstown, A94 V0Y, Co. Dublin and its registered office is at 1 WML, Windmill Lane, Dublin 2, D02 F206. GemCap acts as both management company and global distributor to GemCap Investment Funds (Ireland) plc. GemCap UK Limited (FRN 924419) is an appointed representative of Connexion Capital LLP (FRN 480006), which is authorised and regulated by the Financial Conduct Authority and provides distribution oversight services to GemCap acting as global distributor and is responsible for the oversight of all distribution arrangements for the sub-fund.

Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The "Since Inception" total return start date for the index information is 31/10/2009, since comparative index data is available only for full monthly periods. The "Since Inception" start date for the Fund is 5/10/2009.

Returns net of fees include the investment advisory fee charged by Calamos Advisors LLC. Returns greater than 12 months are annualised. All performance shown assumes reinvestment of dividends and capital gains distributions. Sources for performance data: Calamos Advisors LLC, RBC and Mellon Analytical Solutions, LLC. 

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.

The Fund is offered solely to non-U.S. investors under the terms and conditions of the fund's current prospectus. The prospectus contains important information about the Fund and should be read carefully before investing. A copy of the full and simplified prospectus for the Fund may be obtained by visiting www.calamos.com/global, or by contacting the local Paying Agent listed by jurisdiction at www.calamos.com/global, or through the fund's Transfer Agent, RBC Investor Services Ireland Limited.

Annual Expenses

Name I Shares
Gross Expense Ratio 1.24%
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 CAGOIUI ID
CUSIP number G39118271
ISIN number IE00B296W172
SEDOL number B296W17

This webpage is issued by Calamos Advisors LLC ("CAL") and does not constitute or form part of any offer or invitation to buy or sell shares. It should be read in conjunction with the Fund's Prospectus, key investor information document ("KIID") or offering memorandum. CAL is authorised and regulated by the United States Securities and Exchange Commission. The Company's registered office is 2020 Calamos Court, Naperville, IL 60563. The price of shares and income from them can go down as well as up and past performance is not a guide to future performance. Investors may not get back the full amount originally invested. A comprehensive list of risk factors is detailed in the Prospectus and KIID and an investment should not be contemplated until the risks are fully considered. The Prospectus and KIID can be viewed at http://www.calamos.com/funds/ucits and at www.geminicapital.ie The contents of this document are based upon sources of information believed to be reliable. CAL has taken reasonable care to ensure the information stated is accurate. However, CAL makes no representation, guarantee or warranty that it is wholly accurate and complete. The Calamos Global Convertible Fund is a subfund of GemCap Investment Funds (Ireland) plc, an umbrella type open-ended investment company with variable capital, incorporated on 1 June 2010 with limited liability under the laws of Ireland with segregated liability between sub-funds. GemCap Investment Funds (Ireland) plc is authorised in Ireland by the Central Bank of Ireland pursuant to the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (S.I. No. 352 of 2011) (the "UCITS Regulations"), as amended. Gemini Capital Management (Ireland) Limited, trading as GemCap, is a limited liability company registered under the registered number 579677 under Irish law pursuant to the Companies Act 2014 which is regulated by the Central Bank of Ireland. Its principal office is at Ground Floor, 118 Rock Road, Booterstown, A94 V0Y, Co. Dublin and its registered office is at 1 WML, Windmill Lane, Dublin 2, D02 F206. GemCap acts as both management company and global distributor to GemCap Investment Funds (Ireland) plc. GemCap UK Limited (FRN 924419) is an appointed representative of Connexion Capital LLP (FRN 480006), which is authorised and regulated by the Financial Conduct Authority and provides distribution oversight services to GemCap acting as global distributor and is responsible for the oversight of all distribution arrangements for the sub-fund.

Portfolios are managed according to their respective strategies which may differ significantly in terms of security holdings, industry weightings, and asset allocation from those of the benchmark(s). Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualised average. All performance shown assumes reinvestment of dividends and capital gains distributions. The "Since Inception" total return start date for the index information is 31/10/2009, since comparative index data is available only for full monthly periods. The "Since Inception" start date for the Fund is 5/10/2009.

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.

The Fund is offered solely to non-U.S. investors under the terms and conditions of the fund's current prospectus. The prospectus contains important information about the Fund and should be read carefully before investing. A copy of the full and simplified prospectus for the Fund may be obtained by visiting www.calamos.com/global, or by contacting the local Paying Agent listed by jurisdiction at www.calamos.com/global, or through the fund's Transfer Agent, RBC Investor Services Ireland Limited.

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.

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.

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

Semi-annual Report

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

Investment Manager Commentary, April 2021

Eli Pars, CFA shares his positive outlook for the global convertible market, supported by the Federal Reserve’s accommodative stance and vaccination progress. He discusses the positioning of Calamos Global Convertible Fund, where active rebalancing supports the goal of providing more exposure to global equity market upside than potential downside over market cycles.

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.

Commentary

In “Global Convertible Securities: A Compelling Choice for Lower-Volatility Equity Participation,” John P. Calamos, Sr. and Eli Pars discuss how actively managed convertible securities can provide a potential solution for investors seeking to mitigate equity risk without giving up full equity participation.