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 30/6/14
Inception Date:
01/12/13
Strategy Assets*:
$16.2 M
Benchmark:
MSCI Emerging Markets Index

Resources

Sector Weightings

AS OF 30/6/14
% of Assets MSCI Emerging Markets Index Under/Overweight %
Financials 22.7% 26.8%
Information Technology 22.6 17.3
Consumer Discretionary 21.5 9.1
Energy 8.0 10.7
Industrials 6.9 6.6
Consumer Staples 6.7 8.3
Materials 5.0 8.8
Telecommunication Services 3.1 7.0
Health Care 2.7 1.8
Utilities 0.8 3.6
 

Representative Portfolio Ten Largest Holdings

AS OF 30/6/14
Company Country Sector %
Taiwan Semiconductor Manufacturing Company, Ltd. Taiwan Information Technology 3.7
MediaTek, Inc. Taiwan Information Technology 3.6
Hyundai Motor Company South Korea Consumer Discretionary 2.9
Tencent Holdings, Ltd. China Information Technology 2.8
Naspers, Ltd. - N Shares South Africa Consumer Discretionary 2.8
Metropolitan Bank & Trust Co. Philippines Financials 2.7
Grupo Financiero Banorte, SAB de CV Mexico Financials 2.6
Alsea, SAB de CV Mexico Consumer Discretionary 2.3
Hermes Microvision, Inc. Taiwan Information Technology 2.2
SK Telecom Company, Ltd. South Korea Telecom Services 2.1

Characteristics

AS OF 30/6/14
  Calamos Portfolio MSCI Emerging Markets Index
Assets in Strategy $16.2 million N/A
# of Holdings 78 833
Portfolio Turnover % (5-Year) N/A N/A
Median Market Cap ($bil) $12.4 $5.3
Weighted Average Market Cap ($bil) $27.1 $39.3
ROIC % 23.1% 16.5%
Debt/Capital % 25.7% 27.9%
PEG Ratio (1 year forward) 0.9x 1.2x

Largest Country Weightings

AS OF 30/6/14
Representative Portfolio MSCI Emerging Markets Index
China 18.8% 14.1%
Taiwan 13.6% 12.2%
Mexico 11.7% 5.1%
Hong Kong 9.3% 4.2%
Brazil 8.4% 10.9%
Philippines 7.3% 1.0%
South Korea 6.0% 15.6%
South Africa 5.8% 7.5%
India 5.5% 6.8%
Peru 3.2% 0.3%

Regional Exposure

AS OF 30/6/14
Asia/Pacific 68.4%
Latin America 24.1%
Middle East/Africa 5.8%
Europe 1.7%
North America 0.0%

Calendar Year Returns

AS OF 30/6/14
                           Qtr ending Jun 14YTD 2014Since Inception (12/13)
Emerging Market Equity (Gross)5.80%4.47%6.04%
Emerging Market Equity (Net)5.52%3.93%5.40%
MSCI Emerging Markets Index6.71%6.32%4.79%



Risk/Reward Since Inception

AS OF 30/6/14
  Calamos Emerging Market Equity Composite MSCI Emerging Markets Index
Alpha 3.74% N/A
Beta 0.81 1.00
Standard Deviation % %
Upside Semivariance % %
Downside Semivariance % %
Sharpe Ratio
Information Ratio N/A

Since Inception Up/Down Capture Vs. MSCI Emerging Markets Index

AS OF 30/6/14

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.
Investment Team View the Growth Equity/Fixed Income Team biographies