Investing in Sustainability
A Decades Long Head Start
The Calamos Sustainable Equity capability originated more than 30 years ago in Portland, Oregon when Tony Tursich and Jim Madden teamed up at a firm called Portfolio 21. It was among the very first in the country to identify environmental risk and opportunity as a difference-maker. This was before most American companies understood its impact, before the United Nations adopted principles for responsible investment and at a time when the discipline was dismissed by many.
Tony and Jim were among the first to develop and apply their own non-financial sustainable criteria to the business of surfacing the world’s best companies, producing long-term performance results compelling enough to turn naysayers into believers. In the decades since, the rest of the industry has gradually come to embrace ESG as an investment consideration.
As of August 2021, the expertise gained in this decades-long headstart at sustainable investing has joined Calamos Investments. Trailblazers Tursich and Madden are now part of the Investment Team, joined by Beth Williamson, head of sustainable equity team research and associate portfolio manager, and Calamos has acquired the composite track records of sustainable investment strategies in U.S., international and global equities. Calamos Global Sustainable Equities Fund (CGSIX) was launched in December 2021.
Meet the Calamos Sustainable Equities Team
Environmental, Social, and Governance investing pioneers Tony Tursich and Jim Madden joined Calamos in August of 2021 to lead the development of focused sustainable investment products. Tursich and Madden co-managed portfolios until 2018, when Tursich founded Pearl Impact Capital LLC (PIC), an investment boutique offering sustainable investment strategies in U.S., international and global equities. Beth Williamson, head of sustainable equity team research and associate portfolio manager, contributes more than 15 years of experience and has worked closely alongside Jim and Tony prior to joining Calamos. PIC, including its composite track records, are now available as Calamos Sustainable Equity Strategies.
Q&ARead the Q&A that elaborates on our team’s backstory, the concurrent evolution of ESG as an investment discipline, and how they’ve come to join forces with Calamos.
SVP, Co-Portfolio Manager
SVP, Co-Portfolio Manager
Vice President, Head of Sustainable Equity Team Research and Associate Portfolio Manager
We believe companies with strong ESG characteristics are better equipped to adapt to change, to evolve, and to avoid unnecessary liabilities contributing to investor return potential and risk reduction—integrating ESG analysis with traditional financial analysis produces better financial and societal results.
The strategies seek to achieve above-average returns with lower volatility by focusing on companies that generate higher returns on capital, possess better growth prospects, and hold sustainable competitive advantages over their peers.
We believe a well diversified portfolio of high-quality stocks can produce above-average market returns with lower volatility over the long term.
Calamos on ESG
Calamos Investments began formally integrating ESG into our investment processes in 2017, and by late 2018, ESG research was integrated across our global and international equity strategies and for the Calamos Convertible Fund.
In August 2018, Calamos Investments LLC signed the UN Principles for Responsible Investment (the “Principles”), pledging to adopt and implement the Principles, where consistent with our fiduciary responsibilities. As a signatory, we committed to evaluate the effectiveness and improve the content of the Principles over time to better align our investment activities with the broader interests of society. In 2019, we fortified our approach to ESG with the creation of the Calamos ESG Charter. Since, the tenets of the Calamos ESG Charter have been enhanced and have evolved into the Calamos ESG Firmwide Policy Statement (the “Calamos ESG Policy”).
Calamos Sustainable Equities Offerings
The Calamos Sustainable Equities Team is finding opportunities to invest in companies that are benefiting from the mining industry’s efforts to chart a course to a more sustainable future.Download
Studies have shown that companies with more diverse management teams and boards are more likely to outperform their less diverse counterparts, explains Beth Williamson, Head of Sustainable Equity Team Research. For more than 20 years, the Calamos Sustainable Equity Team has recognized that diverse companies can produce higher financial returns and have lower risk.Download
China’s ESG initiatives include many that are in line with those of the West and others that are unique to China. Chinese companies that understand the importance of ESG risks and opportunities can take advantage of “first-mover” competitive advantages, explains Co-Portfolio Manager Tony Tursich.Download
Latest Blog Posts
Despite market volatility and many macro-level uncertainties, our teams continue to identify opportunities across asset classes. With an introduction from Founder and Global Chief Investment Officer John P. Calamos, Sr.
ESG opportunities with robust returns on investment can be found even in industries with discernable environmental and societal constraints. However, due diligence is key. Using the chemicals industry as an example, the Calamos Sustainable Equities Team demonstrates why proprietary research—not third-party ratings—drive authentic and credible ESG portfolio construction.
A quick look at the holdings of the four largest ESG funds reveals that the leading products are domestically focused, with a concentration in S&P 500 stocks.