Institutional Strategies Main

GLOBAL GROWTH

Strategy Objective

A global all-cap growth equity strategy that seeks to invest in the common stocks of global growth companies.

Attributes
  • Rigorous Capital Structure Analysis
  • Holistic Approach Tying Macro Perspectives to Fundamental Analysis
  • High Active Share
  • Conviction in Growth Companies and Style Purity
  • Team-Managed
Benefits
  • Diversification from Market Capitalization Weighted Indices
  • Leveraging the Experience of over 50 Investment Professionals

Sector Weightings

AS OF 03/31/13
% of Assets MSCI ACWI Growth Under/Overweight %
Information Technology 39.4% 17.2%
Health Care 16.6 11.4
Consumer Discretionary 11.1 15.7
Consumer Staples 9.2 16.0
Energy 8.8 6.2
Financials 7.1 10.7
Materials 4.8 7.8
Industrials 2.5 12.1
Telecommunication Services 0.5 2.0
Utilities 0.0 0.9
 

Representative Portfolio Ten Largest Holdings

AS OF 03/31/13
Company Country Sector %
SAP, AG Germany Information Technology 4.9
Google, Inc. United States Information Technology 4.9
Accenture, PLC - Class A Ireland Information Technology 4.5
Novo Nordisk, A/S - Class B Denmark Health Care 4.4
Apple, Inc. United States Information Technology 3.8
QUALCOMM, Inc. United States Information Technology 3.7
Companhia de Bebidas das Americas Brazil Consumer Staples 3.5
Taiwan Semiconductor Manufacturing Company, Ltd. Taiwan Information Technology 3.2
Swatch Group, AG Switzerland Consumer Discretionary 3.0
Amazon.com, Inc. United States Consumer Discretionary 2.7

Characteristics

AS OF 03/31/13
  Calamos Portfolio MSCI ACWI Growth
Assets in Strategy $665.0 million N/A
# of Holdings 72 1,391
Portfolio Turnover
%(Since Inception) 		% N/A
Median Market Cap ($bil) $30.6 $8.1
Weighted Average Market Cap ($bil) $84.9 $67.7
ROIC % 25.6% 17.5%
Debt/Capital % 15.4% 36.6%
PEG Ratio (1 year forward) 1.4x 1.5x

Largest Country Weightings

AS OF 03/31/13
Representative Portfolio MSCI ACWI Growth
United States 45.8% 45.4%
Ireland 7.2% 1.0%
Switzerland 6.5% 5.1%
Germany 4.9% 3.2%
United Kingdom 4.6% 7.9%
Denmark 4.4% 0.7%
Taiwan 4.1% 1.4%
Brazil 3.5% 1.7%
Canada 3.1% 3.8%
Norway 3.1% 0.1%

Global Summary

AS OF 03/31/13
Representative Portfolio MSCI ACWI Growth
Developed Markets 88.1% 88.5%
Emerging Markets 11.9% 11.5%

Composite Summary

AS OF 03/31/13
Period Ending Composite Assets (in Millions) Total Assets (in Millions) % Of Total Assets Managed # Of Clients Average Acct. Size (in Millions)
12/31/2012 632 30,580 2.1% 3 211
12/31/2011 186 32,777 0.6% 2 93
12/31/2010 177 35,414 0.5% 3 59
12/31/2009 109 32,144 0.3% 4 27
12/31/2008 36 23,522 0.2% 2 18
12/31/2007 107 46,208 0.2% 1 107

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.

The information portrayed on the composition tab is supplemental information to the Calamos Global Growth Composite and as such only relate to the representative portfolio shown. Representative holdings and portfolio characteristics are specific only to the portfolio shown at that point in time. Other portfolios will vary in composition, characteristics, and will experienced different investment results. The representative portfolio shown has been selected by the advisor based on account characteristics that the advisor feels accurately represents the investment strategy as a whole.

Returns presented reflect the Calamos Global Growth Composite which is an actively managed composite primarily investing in a globally-diversified portfolio of equity securities. The Composite was created March 22, 2007 calculated with an inception date of April 1, 2007 and includes all fully discretionary, tax-exempt, fee paying accounts of $500,000 or more, including those no longer with the Firm.

Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index. The MSCI ACWI Growth Index is a free float-adjusted market capitalization weighted index that is designed to measure the growth equity market performance of developed markets and emerging markets.

The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only and should not be considered investment advice.

The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account's portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed do not represent an account's entire portfolio and in the aggregate may represent only a small percentage of an account's portfolio holdings.

It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein.

Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Russell/Mellon Analytical Services LLC and Calamos Advisors LLC.

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

44605C

As of 03/31/13

Annualized Total Returns

3.94%12.35%7.67%7.53%
2.69%11.17%6.54%6.40%
10.27%9.17%3.16%3.20%

As of 03/31/13

Calendar Year Returns




As of 03/31/13

Rolling 3-Year Returns

3 Years Ended




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 presented reflect the Calamos Global Growth Composite which is an actively managed composite primarily investing in a globally-diversified portfolio of equity securities. The Composite was created March 22, 2007 calculated with an inception date of April 1, 2007 and includes all fully discretionary, tax-exempt, fee paying accounts of $500,000 or more, including those no longer with the Firm.

Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index. The MSCI ACWI Growth Index is a free float-adjusted market capitalization weighted index that is designed to measure the growth equity market performance of developed markets and emerging markets.

The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only and should not be considered investment advice.

The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed do not represent an account’s entire portfolio and in the aggregate may represent only a small percentage of an account’s portfolio holdings.

It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein.

Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Russell/Mellon Analytical Services LLC and Calamos Advisors LLC.

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

44605B

Risk/Reward Since Inception

AS OF 03/31/13
  Calamos Global Growth Composite MSCI ACWI Growth
Alpha 4.24% N/A
Beta 1.04 1.00
Standard Deviation 21.42% 19.98%
Upside Semivariance 20.56% 15.16%
Downside Semivariance 18.32% 18.30%
Sharpe Ratio 0.31 0.05
Information Ratio 0.86 N/A

Since Inception Up/Down Capture Vs. MSCI ACWI Growth

AS OF 03/31/13

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 presented reflect the Calamos Global Growth Composite which is an actively managed composite primarily investing in a globally-diversified portfolio of equity securities. The Composite was created March 22, 2007 calculated with an inception date of April 1, 2007 and includes all fully discretionary, tax-exempt, fee paying accounts of $500,000 or more, including those no longer with the Firm.

Unmanaged index returns assume reinvestment of any and all distributions and, unlike fund returns, do not reflect fees, expenses or sales charges. Investors cannot invest directly in an index. The MSCI ACWI Growth Index is a free float-adjusted market capitalization weighted index that is designed to measure the growth equity market performance of developed markets and emerging markets.

The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only and should not be considered investment advice.

The information provided in this report should not be considered a recommendation to purchase or sell any particular security. There is no assurance that any securities discussed herein will remain in an account’s portfolio at the time you receive this report or that securities sold have not been repurchased. The securities discussed do not represent an account’s entire portfolio and in the aggregate may represent only a small percentage of an account’s portfolio holdings.

It should not be assumed that any of the securities transactions or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance of the securities discussed herein.

Fees include the investment advisory fee charge by Calamos Advisors LLC. Returns greater than 12 months are annualized. Chart Data Sources: Russell/Mellon Analytical Services LLC and Calamos Advisors LLC.

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

44605B

Strategy Vehicles

Separately Managed Accounts Minimum: $25 million
Commingled Pool $1 million
Available for both qualified and non-qualified plans.
Institutional Mutual Fund (CIGEX) Minimum $1 million

34605E

Fact Sheet The Global Growth Strategy fact sheet provides a snap shot of the investment team, the investment strategy, performance, composition, ratings and returns.
Performance Review A discussion of the Calamos Global Growth Strategy’s performance versus a benchmark, positioning, related market commentary, and outlook.
Equity Valuation Process A review of Calamos Investments’ research process for determining a company’s business valuation and how Calamos research uncovers the economic profits of a company and how our research determines the quality of the cash flows, the return on capital, and finally, the equity’s valuation.
Investment Team View the Growth/Convertible Team biographies

Strategy Details




As of 03/31/13
Inception Date:
04/01/07
Strategy Assets*:
$665.0 M
Benchmark:
MSCI ACWI Growth

Resources

* Strategy Assets includes assets under management as well as assets for which the company provides model portfolio design and oversight.