Institutional Strategies Main

EMERGING MARKET EQUITY

Strategy Objective

A growth-oriented emerging market equity strategy that invests in the common stocks of emerging market-domiciled companies and seeks to outperform the MSCI Emerging Markets 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

Strategy Details




As of 31/3/16
Inception Date:
01/12/2013
Strategy Assets*:
$13.0 M
Benchmark:
MSCI Emerging Markets

Resources

Sector Weightings

AS OF 31/3/16
% of Assets MSCI Emerging Markets Under/Overweight %
Information Technology 30.1% 20.7%
Financials 19.8 27.5
Consumer Discretionary 14.7 9.8
Consumer Staples 12.1 8.2
Industrials 8.4 6.9
Health Care 5.6 2.6
Telecom Services 3.5 6.9
Energy 3.0 7.6
Utilities 1.8 3.2
Materials 1.0 6.6
 

Representative Portfolio Ten Largest Holdings

AS OF 31/3/16
Company Country Sector %
Taiwan Semiconductor Mfg Co., Ltd. Taiwan Information Technology 4.7
Tencent Holdings, Ltd. Cayman Islands Information Technology 4.4
Samsung Electronics Co., Ltd. South Korea Information Technology 4.3
Baidu, Inc. Cayman Islands Information Technology 3.3
China Mobile, Ltd. Hong Kong Telecom Services 2.6
Ctrip.com International, Ltd. Cayman Islands Consumer Discretionary 2.3
Naspers, Ltd. - Class N South Africa Consumer Discretionary 2.2
NAVER Corp. South Korea Information Technology 2.1
Metropolitan Bank & Trust Company Philippines Financials 2.1
Alibaba Group Holding, Ltd. Cayman Islands Information Technology 2.1

Characteristics

AS OF 31/3/16
  Calamos Portfolio MSCI Emerging Markets
Assets in Strategy $13.0 million N/A
# of Holdings 79 835
Portfolio Turnover % (5-Year) N/A N/A
Median Market Cap ($bil) $10.3 $4.7
Weighted Average Market Cap ($bil) $46.4 $41.4
ROIC % 21.4% 15.8%
Debt/Capital % 22.8% 27.4%
PEG Ratio (1 year forward) 1.4x 1.4x

Regional Exposure

AS OF 31/3/16
Asia/Pacific 71.1%
Latin America 16.0%
Europe 7.7%
Middle East/Africa 4.5%
North America 0.7%

Calendar Year Returns

AS OF 31/3/16
                           Qtr Ending Mar 16YTD 20162015201412/01/2013 to 12/31/2013
Emerging Market Equity (Gross)1.56%1.56%-12.07%-5.47%1.50%
Emerging Market Equity (Net)1.29%1.29%-13.04%-6.48%1.41%
MSCI Emerging Markets5.75%5.75%-14.60%-1.82%-1.44%



Risk/Reward Since Inception

AS OF 31/3/16
  Calamos Emerging Market Equity Composite MSCI Emerging Markets
Alpha -1.71% N/A
Beta 0.85 1.00
Standard Deviation 15.82% 17.48%
Upside Semivariance 9.34% 12.41%
Downside Semivariance 10.97% 12.28%
Sharpe Ratio -0.4082 -0.3236
Information Ratio -0.1382 N/A

Since Inception Up/Down Capture Vs. MSCI Emerging Markets

AS OF 31/3/16

* Strategy Assets reflect all assets that are currently being managed (collectively) under the Calamos Emerging Market Equity Strategy.

Strategy Vehicles

Separately Managed Accounts Minimum: $25 million

34601E

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