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 30/6/15
Inception Date:
01/12/13
Strategy Assets*:
$17.6 M
Benchmark:
MSCI Emerging Markets Index

Resources

Sector Weightings

AS OF 30/6/15
% of Assets MSCI Emerging Markets Index Under/Overweight %
Financials 30.3% 28.6%
Information Technology 27.2 19.1
Consumer Discretionary 14.2 9.4
Industrials 7.3 6.8
Consumer Staples 7.1 8.1
Telecommunication Services 4.7 7.3
Energy 3.6 8.0
Materials 2.4 7.0
Health Care 2.1 2.4
Utilities 1.1 3.3
 

Representative Portfolio Ten Largest Holdings

AS OF 30/6/15
Company Country Sector %
Samsung Electronics Co., Ltd. South Korea Information Technology 4.1
Naspers, Ltd. - Class N South Africa Consumer Discretionary 3.9
Baidu, Inc. China Information Technology 3.6
Tencent Holdings, Ltd. China Information Technology 2.9
Taiwan Semiconductor Manufacturing Company, Ltd. Taiwan Information Technology 2.9
Grupo Financiero Banorte, SAB de CV Mexico Financials 2.3
Infosys, Ltd. India Information Technology 2.2
Axis Bank, Ltd. India Financials 2.2
China Mobile, Ltd. Hong Kong Telecom Services 2.1
Metropolitan Bank & Trust Company Philippines Financials 1.9

Characteristics

AS OF 30/6/15
  Calamos Portfolio MSCI Emerging Markets Index
Assets in Strategy $17.6 million N/A
# of Holdings 90 836
Portfolio Turnover % (5-Year) N/A N/A
Median Market Cap ($bil) $16.1 $4.9
Weighted Average Market Cap ($bil) $44.9 $42.5
ROIC % 21.6% 16.3%
Debt/Capital % 28.7% 27.4%
PEG Ratio (1 year forward) 1.3x 1.4x

Largest Country Weightings

AS OF 30/6/15
Representative Portfolio MSCI Emerging Markets Index
China 18.8% 17.8%
South Korea 13.2% 15.0%
Taiwan 10.1% 12.8%
India 10.0% 7.5%
Mexico 9.1% 4.7%
Hong Kong 7.9% 5.4%
South Africa 7.5% 7.9%
Brazil 7.5% 7.3%
Indonesia 4.3% 2.8%
Philippines 4.2% 1.4%

Regional Exposure

AS OF 30/6/15
Asia/Pacific 69.9%
Latin America 18.1%
Middle East/Africa 8.0%
Europe 4.0%
North America 0.0%

Calendar Year Returns

AS OF 30/6/15
                           Qtr ending Mar 15YTD 20152014Since Inception (12/13)
Emerging Market Equity (Gross)2.15%2.15%-5.47%-1.50%
Emerging Market Equity (Net)1.88%1.88%-6.49%-2.55%
MSCI Emerging Markets Index2.28%2.28%-1.82%-0.77%



Risk/Reward Since Inception

AS OF 30/6/15
  Calamos Emerging Market Equity Composite MSCI Emerging Markets Index
Alpha -0.79% N/A
Beta 0.85 1.00
Standard Deviation 11.53% 11.75%
Upside Semivariance 4.23% 3.83%
Downside Semivariance 6.83% 7.65%
Sharpe Ratio -0.13 -0.07
Information Ratio -0.13 N/A

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

AS OF 30/6/15

* 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.