Institutional Strategies Main

International Growth Concentrated

Strategy Details




As of 12/31/18
Inception Date:
12/01/13
Strategy Assets*:
$37.6 M
Benchmark:
MSCI ACWI ex-US Growth

Resources

*Strategy Assets reflect all assets that are currently being managed (collectively) under the strategy, which may contain multiple performance composites.

Strategy Objective

A non-U.S. all-cap growth equity strategy that invests in a concentrated portfolio of common stocks of growth companies based outside the United States and seeks to outperform the MSCI ACWI ex-U.S. Growth Index over a full market cycle.

Key Differentiators
  • In-depth capital structure analysis
  • Rigorous top-down and fundamental research
  • High active share, high relative growth focus
  • Team approach to management

Sector Weightings

AS OF 12/31/18
% of Assets MSCI ACWI ex-US Growth Under/Overweight %
Consumer Staples 17.9% 16.7%
Consumer Discretionary 14.7% 13.3%
Health Care 14.6% 11.1%
Information Technology 12.6% 12.1%
Communication Services 11.5% 8.2%
Financials 10.9% 9.9%
Industrials 8.6% 15.5%
Real Estate 3.4% 1.9%
Materials 3.2% 7.0%
Energy 2.6% 3.0%
Utilities 0.0% 1.3%
 

Representative Portfolio Ten Largest Holdings

AS OF 12/31/18
Company Sector %
Tencent Holdings, Ltd. Communication Services 6.6
Alibaba Group Holding, Ltd. Consumer Discretionary 5.6
Csl, Ltd. Health Care 4.2
Diageo, Plc Consumer Staples 4.0
Astrazeneca, Plc Health Care 3.8
Lululemon Athletica, Inc. Consumer Discretionary 3.6
Thales, Sa Industrials 3.5
Lm Ericsson Telephone Company - Class B Information Technology 3.5
Nestle, Sa Consumer Staples 3.4
Aroundtown, Sa Real Estate 3.4

Characteristics

AS OF 12/31/18
  Calamos Portfolio MSCI ACWI ex-US Growth
Strategy Assets $37.6 million N/A
# of Holdings 39 1130
Portfolio Turnover % (12-Month) 73.6% N/A
Median Market Cap ($bil) $46.1 $7.7
Weighted Average Market Cap ($bil) $99.8 $67.6
ROIC % 21.8% 15.9%
Debt/Capital % 30.4% 28.3%
PEG Ratio (1 year forward) 1.6x 1.8x

44604C

Annualized Total Returns

AS OF 12/31/18
1-Year3-Year5-YearSince Inception (12/13)
International Growth Concentrated (Gross)-19.56%1.29%0.40%1.03%
International Growth Concentrated (Net)-20.26%0.33%-0.57%0.06%
MSCI ACWI ex-US Growth-14.12%4.55%2.05%2.22%

Calendar Year Returns

AS OF 12/31/18
                           Qtr Ending Dec 18YTD 2018201720162015201412/01/2013 to 12/31/2013
International Growth Concentrated (Gross)-15.51%-19.56%37.17%-5.82%6.03%-7.42%3.29%
International Growth Concentrated (Net)-15.69%-20.26%35.82%-6.75%4.99%-8.33%3.20%
MSCI ACWI ex-US Growth-12.16%-14.12%32.44%0.49%-0.91%-2.29%1.04%



44604B

Risk/Reward Since Inception

AS OF 12/31/18
  Calamos International Growth Concentrated Composite MSCI ACWI ex-US Growth
Alpha -1.17% N/A
Beta 1.07 1.00
Standard Deviation 13.38% 11.72%
Upside Semivariance 7.80% 5.78%
Downside Semivariance 6.89% 5.52%
Sharpe Ratio 0.0327 0.1394
Information Ratio -0.2533 N/A

Since Inception Up/Down Capture Vs. MSCI ACWI ex-US Growth

AS OF 12/31/18

44604B

Strategy Vehicles

Separately Managed Accounts Minimum: $25 million

34604E

Fact Sheet The International Growth Concentrated Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.
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Performance Review A discussion of the International Growth Concentrated Strategy’s performance versus a benchmark, positioning, related market commentary, and outlook.
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