NAPERVILLE, Ill., Feb. 13, 2017 /PRNewswire/ -- Calamos
Investments, global investment management firm, has appointed
Michael Grant, Senior Vice
President, to lead portfolio management of the firm's approximately
$2.3 billion in US growth strategies,
including the $1.8 billion Calamos
Growth Fund (CVGRX), announced John
Koudounis, Chief Executive Officer. With 30 years of
investment management experience, Grant joined Calamos in 2015
following the acquisition of his firm, Phineus Partners LP, where
he launched a successful long/short investment strategy that was
reorganized into a retail mutual fund, Calamos Phineus Long/Short
Fund (CPLIX), in 2016.
"Michael is an exceptional investment manager with a
demonstrated track record of performance. He will apply his deep
knowledge and expertise as part of the team responsible for the
Calamos US growth strategies. This step is a continuation of our
mission to strengthen our existing capabilities as we address the
evolving needs of our clients," Koudounis said.
John P. Calamos, Sr., Founder,
Chairman and Global Chief Investment Officer, stated: "Michael has
brought to Calamos a breadth of experience across asset classes,
including in US growth equities. His proven capabilities and
approach to the markets make him an excellent addition to the
investment team of our US growth strategies, including Calamos
Growth Fund."
Under Grant's management, Calamos Phineus Long/Short Fund ranks
in the 1st percentile for both the since inception and
10-year periods ending December 31,
2016 within the Morningstar US Funds Long/Short Category.*
Prior to founding Phineus Partners in 2002, Grant held a variety of
investment positions at Schroders Investment Management, including
Managing Director, Head of the US Equity Team in London, and Head of the Global Technology
Team. As Head of the US Equity Team, he was responsible for multi
billions of dollars in long-only assets, primarily in US mandates.
During his tenure as Head of the Global Technology Team, Schroders
had more than $30 billion in
technology equities under management. Earlier in his career,
Grant was a portfolio manager for the National Investment Trust Co.
in Taipei, Taiwan, and a US equity
analyst for the Principal Group in Canada.
In 1998, Grant was listed as one of the Top 10 Best Managers of
US Equities (Overseas) by Forbes magazine. He earned a master's
degree from the London School of
Economics.
About Calamos
Calamos Investments is a diversified global investment firm
offering innovative investment strategies including U.S. growth
equity, global equity, convertible, multi-asset and alternatives.
The firm offers strategies through separately managed portfolios,
mutual funds, closed-end funds, private funds, and UCITS funds.
Clients include major corporations, pension funds, endowments,
foundations and individuals, as well as the financial advisors and
consultants who serve them. Headquartered in
the Chicago metropolitan area, the firm also has offices
in London, New York, Miami and San Francisco.
For more information, please visit www.calamos.com.
Disclosures
Performance data quoted represents past
performance, which is no guarantee of future results. Current
performance may be lower or higher than the performance quoted. The
principal value and return of an investment will fluctuate so that
your shares, when redeemed, may be worth more or less than their
original cost. Performance reflected at NAV does not include the
Fund's maximum front-end sales load of 4.75% had it been included;
the Fund's return would have been lower. For the most recent
month-end fund performance information visit
www.Calamos.com.
* Within the Morningstar US Funds Long/Short Category,
Calamos Phineus Long/Short Fund was ranked in the 7th percentile
(20 of 311 funds), the 10th percentile (19 of 186 funds), the 23rd
percentile (25 of 106 funds), 1st percentile (1 of 45 funds) and
1st percentile (1 of 24 funds), for the 1-year, 3-year, 5-year,
10-year and since inception (5/1/2002) periods, respectively.
Morningstar Ratings are based on I share total return and are
through 12/31/16 and will differ for
other share classes. Morningstar long-short category: long-short
portfolios hold sizable stakes in both long and short positions in
equities and related derivatives. Some funds that fall into this
category will shift their exposure to long and short positions
depending on their macro outlook or the opportunities they uncover
through bottom-up research. Some funds may simply hedge long stock
positions through exchange-traded funds or derivatives. At least
75% of the assets are in equity securities or derivatives.
The performance shown for periods prior
to April 5,
2016 is the performance of a predecessor
investment vehicle (the "Predecessor
Fund"). The Predecessor
Fund was reorganized into the Fund
on April 5, 2016,
the date upon which the Fund commenced operations.
On October 1,
2015 the parent company
of Calamos
Advisors purchased Phineus Partners
LP, the prior investment adviser to
the Predecessor Fund ("Phineus"),
and Calamos Advisors served as
the Predecessor Fund's investment
adviser from October 1,
2015 until it was reorganized into the
Fund. Phineus and Calamos
Advisors managed the Predecessor
Fund using investment policies, objectives,
guidelines and restrictions that were in all material respects
equivalent to those of the Fund. Phineus and Calamos
Advisors managed the Predecessor
Fund in this manner either directly or
indirectly by investing all of the Predecessor
Fund's assets in a master fund structure.
However, the Predecessor Fund was
not a registered mutual fund and thus was not subject to the same
investment and tax restrictions as the Fund. If it had been,
the Predecessor Fund's performance
may have been lower.
An investment in the Fund is subject to risks, and you could
lose money on your investment in the Fund. There can be no
assurance that the Fund will achieve its investment objective. Your
investment in the Fund 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 can increase during times
of significant market volatility. The Fund also has specific
principal risks, which are described below. More detailed
information regarding these risks can be found in the Fund's
prospectus.
Alternative investments may not be suitable for all
investors.
The principal risks of investing in the Calamos Phineus
Long/Short Fund include: equity securities risk consisting of
market prices declining in general, short sale risk consisting of
potential for unlimited losses, foreign securities risk, currency
risk, geographic concentration risk, other investment companies
(including ETFs) risk, derivatives risk, options risk, and leverage
risk.
Short Sale Risk — The Fund may incur a loss (without limit)
as a result of a short sale if the market value of the borrowed
security (i.e., the Fund's short position) increases between the
date of the short sale and the date the Fund replaces the security.
The Fund may be unable to repurchase the borrowed security at a
particular time or at an acceptable price.
Leveraging Risk — Leverage is the potential for the Fund to
participate in gains and losses on an amount that exceeds the
Fund's investment. Leveraging risk is the risk that certain
transactions of the Fund may give rise to leverage, causing the
Fund to be more volatile and experience greater losses than if it
had not been leveraged. The Fund's use of short sales and
investments in derivatives subject the Fund to leveraging
risk.
Derivatives Risk — Derivatives are instruments, such as
futures, options and forward foreign currency contracts, whose
value is derived from that of other assets, rates or indices. The
use of derivatives for non-hedging purposes may be considered more
speculative than other types of investments. Derivatives can be
used for hedging (attempting to reduce risk by offsetting one
investment position with another) or non-hedging purposes. Hedging
with derivatives may increase expenses, and there is no guarantee
that a hedging strategy will work.
The principal risks of investing in the Calamos 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,
mid-sized company risk, foreign securities risk and portfolio
selection risk.
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.
Assets are as of December 31,
2016 and include $409 million
in assets under advisement.
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 or
call 1-800-582-6959. Read it carefully before
investing.
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 Investments LLP and Calamos
Financial Services LLC.
From time to time, information or statements provided by us,
including those within this news release, may contain certain
forward-looking statements relating to future events, future
financial performance, strategies, expectations, the competitive
environment and regulations. Forward-looking statements are based
on information available at the time those statements are made
and/or management's good faith belief as of that time with respect
to future events, and are subject to risks and uncertainties that
could cause actual performance or results to differ materially from
those expressed in or suggested by the forward-looking statements.
For a discussion concerning some of these and other risks,
uncertainties and other important factors that could affect future
results, see "Forward-Looking Information" in "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" and, where applicable, "Risk Factors" in our annual and
quarterly reports filed with the U.S. Securities and Exchange
Commission.
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SOURCE Calamos Investments