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 12/31/15
Inception Date:
12/01/13
Strategy Assets*:
$12.8 M
Benchmark:
MSCI Emerging Markets Index

Resources

Sector Weightings

AS OF 12/31/15
% of Assets MSCI Emerging Markets Index Under/Overweight %
Information Technology 27.2% 22.6%
Financials 26.3 27.2
Consumer Discretionary 16.3 10.2
Industrials 9.0 6.8
Consumer Staples 7.4 8.1
Health Care 5.3 2.8
Energy 3.1 6.8
Telecommunication Services 2.6 6.6
Utilities 2.1 3.1
Materials 0.7 5.8
 

Representative Portfolio Ten Largest Holdings

AS OF 12/31/15
Company Country Sector %
Tencent Holdings, Ltd. China Information Technology 4.2
Samsung Electronics Company, Ltd. South Korea Information Technology 4.1
Taiwan Semiconductor Manufacturing Company, Ltd. Taiwan Information Technology 3.7
Naspers, Ltd. - Class N South Africa Consumer Discretionary 3.2
Baidu, Inc. China Information Technology 3.1
China Mobile, Ltd. Hong Kong Telecom Services 2.6
Aselsan Elektronik Sanayi Ve Ticaret AS Turkey Industrials 2.2
Larsen & Toubro, Ltd. India Industrials 2.1
Grupo Financiero Banorte, SAB de CV Mexico Financials 2.0
Metropolitan Bank & Trust Company Philippines Financials 2.0

Characteristics

AS OF 12/31/15
  Calamos Portfolio MSCI Emerging Markets Index
Assets in Strategy $12.8 million N/A
# of Holdings 85 838
Portfolio Turnover % (5-Year) N/A N/A
Median Market Cap ($bil) $10.8 $4.5
Weighted Average Market Cap ($bil) $44.4 $42.1
ROIC % 21.9% 17.7%
Debt/Capital % 26.7% 26.5%
PEG Ratio (1 year forward) 1.4x 1.3x

Largest Country Weightings

AS OF 12/31/15
Representative Portfolio MSCI Emerging Markets Index
China 21.1% 23.4%
South Korea 11.5% 15.0%
Taiwan 10.1% 11.7%
India 10.1% 8.5%
Mexico 9.1% 4.3%
Hong Kong 7.4% 5.2%
Philippines 5.2% 1.4%
Brazil 5.2% 5.3%
Indonesia 4.5% 2.5%
South Africa 3.6% 6.1%

Regional Exposure

AS OF 12/31/15
Asia/Pacific 72.1%
Latin America 15.1%
Europe 7.5%
Middle East/Africa 5.3%

Calendar Year Returns

AS OF 12/31/15
                           Qtr ending Dec 1520152014
Emerging Market Equity (Gross)2.74%-12.07%-5.47%
Emerging Market Equity (Net)2.46%-13.04%-6.49%
MSCI Emerging Markets Index0.73%-14.60%-1.82%



Risk/Reward Since Inception

AS OF 12/31/15
  Calamos Emerging Market Equity Composite MSCI Emerging Markets Index
Alpha -0.04% N/A
Beta 0.89 1.00
Standard Deviation 14.18% 14.89%
Upside Semivariance 6.52% 6.87%
Downside Semivariance 10.60% 12.07%
Sharpe Ratio -0.55 -0.59
Information Ratio 0.16 N/A

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

AS OF 12/31/15

* 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
Institutional Mutual Fund (CIEIX) Minimum $1 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.