Strategy Objective

A lower-volatility global equity strategy that leverages Calamos' capital structure research by investing in equities and equity-sensitive securities of global growth companies, in order to generate consistent alpha and manage downside volatility versus the MSCI All Country World Index over a full market cycle.

Key Differentiators

  • Managing global assets since the 1980s
  • High active share, high conviction
  • Fundamental research, top-down thematic
  • Focus on risk-adjusted alpha
  • Capital structure analysis

Strategy Details

As of 3/31/23
Inception Date: 10/01/96
Strategy Assets*: $1.0 B
Benchmark: MSCI ACWI Index

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

Portfolio

Sector Weightings

As of 3/31/23
Sector % of Assets MSCI ACWI Index Under/Overweight %
Information Technology 22.9% 20.4%
Industrials 16.4% 10.4%
Consumer Discretionary 14.6% 10.9%
Financials 11.9% 15.6%
Health Care 10.5% 12.3%
Energy 5.8% 5.0%
Communication Services 5.3% 7.3%
Materials 5.1% 4.9%
Consumer Staples 4.7% 7.7%
Utilities 1.0% 2.9%
Real Estate 0.0% 2.4%
Other 1.9% 0.0%

Representative Portfolio Ten Largest Holdings

As of 3/31/23
Company Country Sector %
Taiwan Semiconductor Mfg Taiwan Information Technology 3.3
Novo Nordisk, A/S (ADR) Denmark Health Care 3.2
Glencore Funding LLC Switzerland Materials 3.1
ASML Holding, NV Netherlands Information Technology 2.6
NVIDIA Corp. United States Information Technology 2.6
Prysmian S.p.A Italy Industrials 2.5
Microsoft Corp. United States Information Technology 2.5
Apple, Inc. United States Information Technology 2.5
Keyence Corp. Japan Information Technology 2.5
Zhongsheng Group Holdings, Ltd. China Consumer Discretionary 2.1

Characteristics

As of 3/31/23
Name Calamos Portfolio MSCI ACWI Index
Number of Holdings 84 2,884
Portfolio Turnover (12 months) 75.7% N/A
Median Market Cap $117.7 B $11.4 B
Weighted Avg. Market Cap $417.8 B $349.9 B
ROIC 20.7% 20.2%
Debt/Capital 41.7% 41.7%
PEG Ratio 1.9x 2.0x

Credit Quality of Bonds

As of 3/31/23
Class %
AAA 5.6%
AA 0.0%
A 3.3%
BBB 11.9%
BB 0.0%
B 0.0%
CCC and below 0.0%
Unrated Securities 79.2%

Performance

Annualized Total Returns

As of 3/31/23
Name 1-Year 3-Year 5-Year 10-Year Since Inception (10/96)
Global Opportunities (Gross) -9.21% 16.32% 7.73% 7.70% 9.26%
Global Opportunities (Net) -9.83% 15.54% 7.07% 6.96% 8.33%
MSCI ACWI Index -6.96% 15.90% 7.46% 8.62% 7.04%

Calendar Year Returns

As of 3/31/23
Name Qtr ending Mar 23 YTD 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Global Opportunities (Gross) 6.69% 6.69% -20.96% 16.88% 34.34% 19.98% -7.85% 21.42% 2.10% 2.20% 3.88%
Global Opportunities (Net) 6.50% 6.50% -21.51% 16.11% 33.52% 19.39% -8.41% 20.46% 1.24% 1.43% 3.08%
MSCI ACWI Index 7.44% 7.44% -17.96% 19.04% 16.82% 27.30% -8.93% 24.62% 8.48% -1.84% 4.71%

Past performance does not guarantee or indicate future results. 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.

Returns and Risk/Reward statistics presented reflect the Calamos Global Opportunities Composite which is an actively managed composite primarily investing in a globally diversified portfolio of equity, convertible and fixed-income securities, with equal emphasis on capital appreciation and current income. The Composite was created February 16, 2006, calculated with an inception date of October 1, 1996 and includes all fully discretionary fee paying accounts, including those no longer with the Firm.

Unmanaged index returns, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index.

The MSCI ACWI Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets and emerging markets.

Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Calamos Advisors LLC.

Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average. All performance shown assumes reinvestment of dividends and capital gains distributions.

Risk/Reward

Risk/Reward Since Inception

As of 3/31/23
Name Calamos Global Opportunities Composite MSCI ACWI Index
Alpha 3.70% N/A
Beta 0.75 1.00
Annualized Standard Deviation 13.16% 15.90%
Upside Semivariance 9.28% 11.35%
Downside Semivariance 5.77% 10.10%
Sharpe Ratio 0.55 0.32
Information Ratio 0.33 N/A

Since Inception Up/Down Capture Vs. MSCI ACWI Index

As of 3/31/23

Vehicles & Minimums

Vehicles and Minimums

Vehicle Minimum Availability
Separately Managed Accounts $25 million Available to new investors
Commingled Pool $5 million Available to new investors
Institutional Mutual Fund (CGCIX) $1 million These investment offerings are intended for investors inside the United States.

Literature

PDF Thumb

Fact Sheet

The Global Opportunities Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.

PDF Thumb

Performance Review

A discussion of the Calamos Global Opportunities Strategy’s performance versus a benchmark, positioning, related market commentary, and outlook.

Calamos Financial Services LLC, Distributor

Check the background of the firm and its investment professionals on FINRA's BrokerCheck.

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.

©2023 Calamos Investments LLC. All Rights Reserved. Calamos®, Calamos Investments® and Investment strategies for your serious money® are registered trademarks of Calamos Investments LLC.

Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Financial Services LLC and Calamos Antetokounmpo Asset Management LLC.

The personal data collected by Calamos on this website, or by any other means, is collected and stored in accordance with the General Data Protection Regulation (EU) 2016/679 ("GDPR").

Important Legal Information | Privacy Policy | Business Continuity | Code of Business Conduct and Ethics | ERISA 408(b)(2)