Why We Think Merger Arbitrage Is a Great Opportunity

May 12, 2023

Hear Jason Hill, SVP and Co-Portfolio Manager discuss why we think merger arbitrage is a great opportunity and what sets our merger arbitrage strategy apart.

3 Reasons Driving the Opportunities Set in Convertible Arbitrage in 2023

February 24, 2023

Hear Eli Pars, CFA, Co-CIO, Head of Alternative Strategies, Co-Head of Convertible Strategies, and Senior Co-Portfolio Manager discuss why there are multiple reasons he has a positive outlook on convertible arbitrage opportunities in the current market.

Our “North Star” Trade

May 1, 2018

Jason Hill, Senior Vice President, Co-Portfolio Manager, describes how this model trade serves as “a compass.”

Defensive Equity vs. Fixed Income Alternative

May 1, 2018

Dave O’Donohue, Senior Vice President, Co-Portfolio Manager, explains how the two hedging strategies have different risk profiles and return expectations.

Active Management to Construct a Better Hedge

May 1, 2018

Dave O’Donohue, Senior Vice President, Co-Portfolio Manager, points out how a more active, more flexible management approach helps set Calamos apart.

Why Convertible Arbitrage Is a True Market Neutral Strategy

December 13, 2017

Eli Pars, Co-CIO, Head of Alternative Strategies and Co-Head of Convertible Strategies, Senior Co-PM, explains that convertible arbitrage has performed well in most equity market environments—and that the strategy has done its best in declining equity markets historically.

Convertible Arbitrage: An Old-School All-Weather Strategy

December 13, 2017

Eli Pars, Co-CIO, Head of Alternative Strategies and Co-Head of Convertible Strategies, Senior Co-PM, says the goal is to buy low and sell high, generate coupon income and trade around the portfolio.

Convertible Arbitrage—Sources of Income

December 13, 2017

Eli Pars, Co-CIO, Head of Alternative Strategies and Co-Head of Convertible Strategies, Senior Co-PM, outlines the sources of income from convertible arbitrage, including: coupon income from the convertible bond, short interest credit, capital appreciation from convertibles and rebalancing/trading profits.