Calamos Timpani Small Cap Growth Fund (CTSIX), available as of June 3, 2019, is the result of Calamos’ acquisition of Timpani Capital Management, a boutique small- and smid-cap investment manager based in Milwaukee. The newly named fund maintains its investment team and track record dating back to 2011 alongside its SMA counterpart with a track record since 2008.
With its high growth style, CTSIX can provide your clients access to small cap companies with high, sustainable growth potential that may exceed market expectations.
Brandon Nelson, Senior Portfolio Manager of the Calamos Timpani Small Cap Growth Fund (CTSIX), says he remains constructive on small caps and sees growth opportunity.
When will small cap stocks overcome last year's headwinds? We may be approaching a historic opportunity, says Calamos Timpani Small Cap Growth Fund (CTSIX) Senior Portfolio Manager Brandon M. Nelson, CFA.
What impact could the 2020 presidential election outcome have on the markets? Brandon M. Nelson, CFA, Senior Portfolio Manager of Calamos Timpani Small Cap Growth Fund (CTSIX), provides a historical analysis.
|Name||% Holding||Symbol||Sector Desc||Industry Name||Market Cap $B||Country of Risk||City|
|Name GDS HOLDINGS LTD - ADR||% Holding 1.89||Symbol GDS||Sector Desc Information Technology||Industry Name Internet Services & Infrastructure||Market Cap $B 7.8||Country of Risk China||City Shanghai|
|Name WNS HOLDINGS LTD-ADR||% Holding 1.67||Symbol WNS||Sector Desc Information Technology||Industry Name Data Processing & Outsourced Services||Market Cap $B 3.5||Country of Risk India||City Mumbai|
|Name NICE LTD - SPON ADR||% Holding 1.06||Symbol NICE||Sector Desc Information Technology||Industry Name Application Software||Market Cap $B 10.8||Country of Risk Israel||City Ra'anana|
|Name NOVA MEASURING INSTRUMENTS||% Holding 1.00||Symbol NVMI||Sector Desc Information Technology||Industry Name Semiconductor Equipment||Market Cap $B 1.1||Country of Risk Israel||City Rehovot|
|Name GLOBANT SA||% Holding 0.98||Symbol GLOB||Sector Desc Information Technology||Industry Name Application Software||Market Cap $B 4.5||Country of Risk Argentina||City Buenos Aires|
|Name ESTABLISHMENT LABS HOLDINGS||% Holding 0.80||Symbol ESTA||Sector Desc Health Care||Industry Name Health Care Supplies||Market Cap $B 0.6||Country of Risk Costa Rica||City Alajuela|
|Name SAPIENS INTERNATIONAL CORP||% Holding 0.80||Symbol SPNS||Sector Desc Information Technology||Industry Name Application Software||Market Cap $B 1.3||Country of Risk Israel||City Holon|
|Name AUDIOCODES LTD||% Holding 0.45||Symbol AUDC||Sector Desc Information Technology||Industry Name Communications Equipment||Market Cap $B 0.6||Country of Risk Israel||City Lod|
|Name SCORPIO TANKERS INC||% Holding 0.38||Symbol STNG||Sector Desc Energy||Industry Name Oil & Gas Storage & Transportation||Market Cap $B 1.3||Country of Risk Monacco||City Monacco|
|Name ITAMAR MEDICAL LTD-SPON ADR||% Holding 0.35||Symbol ITMR||Sector Desc Health Care||Industry Name Health Care Equipment||Market Cap $B 0.2||Country of Risk Israel||City Caesarea|
|Name NOVOCURE LTD||% Holding 0.24||Symbol NVCR||Sector Desc Health Care||Industry Name Health Care Equipment||Market Cap $B 8.1||Country of Risk Jersey||City St. Helier|
A key piece of the CTSIX team’s approach is its avoidance of the emotion and behavior biases that can trip up small company investors.
The team seeks to minimize exposure to the disposition effect, which is the tendency for investors to sell their winners too soon and to keep their losers too long.
Investors subject to anchoring bias can be slow to react to incremental, relevant changes. The prevalence of such a bias helps explain why “growth gaps” exist.
Read more in this Q&A with Senior Portfolio Manager Brandon M. Nelson.
Most financial advisors prefer to use actively managed funds to gain exposure to small cap companies for their clients. With that decision made, others remain. Where should small caps be used? How? With which clients and to what effect?
Read more in our June 2019 research, Building Client Portfolios with Small Cap Growth: Views from Financial Advisors 2019Read the Research
Financial advisors, for our thoughts on optimizing a small cap portfolio allocation, read our whitepaper or get help from the Calamos’ Portfolio Analytics team. Please contact your Calamos Investment Consultant at 888-571-2567 or firstname.lastname@example.org.
Click here to view CTSIX's standardized performance.
The principal risks of investing in the Calamos Timpani Small Cap Growth 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, and portfolio selection risk.
The Fund invests in small capitalization companies, which are often more volatile and less liquid than investments in larger companies. 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 Morningstar Small Growth Category includes small-growth portfolios that focus on faster-growing companies whose shares are at the lower end of the market-capitalization range.
The Russell 2000 Growth Index is a composite of small cap companies located in the U.S. that also exhibit a growth probability.
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.
Important Risk 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.
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.