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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 03/31/17
Inception Date:
12/01/13
Strategy Assets*:
$14.4 M
Benchmark:
MSCI Emerging Markets

Resources

Sector Weightings

AS OF 03/31/17
% of Assets MSCI Emerging Markets Under/Overweight %
Information Technology 27.3% 24.5%
Financials 26.8 24.1
Consumer Discretionary 13.7 10.4
Materials 6.8 7.5
Consumer Staples 6.6 6.9
Industrials 6.6 5.9
Energy 6.0 7.3
Telecom Services 2.3 5.6
Real Estate 2.1 2.6
Health Care 1.8 2.4
 

Representative Portfolio Ten Largest Holdings

AS OF 03/31/17
Company Country Sector %
Samsung Electronics Co., Ltd. South Korea Information Technology 4.8
Tencent Holdings, Ltd. China Information Technology 4.4
Taiwan Semiconductor Mfg Co. Taiwan Information Technology 4.0
Alibaba Group Holding, Ltd. China Information Technology 3.7
Ctrip.com International, Ltd. China Consumer Discretionary 3.2
iShares MSCI India ETF United States Other 3.2
Indiabulls Housing Finance, Ltd. India Financials 3.0
Larsen & Toubro, Ltd. India Industrials 2.5
Itau Unibanco Holding, SA Brazil Financials 2.3
Sberbank of Russia PJSC Russia Financials 2.0

Characteristics

AS OF 03/31/17
  Calamos Portfolio MSCI Emerging Markets
Assets in Strategy $14.4 million N/A
# of Holdings 87 830
Portfolio Turnover % (12-Month) 96.9% N/A
Median Market Cap ($bil) $18.7 $5.4
Weighted Average Market Cap ($bil) $69.0 $59.2
ROIC % 19.1% 16.4%
Debt/Capital % 31.0% 27.7%
PEG Ratio (1 year forward) 1.1x 1.3x

Regional Exposure

AS OF 03/31/17
Region %
Asia/Pacific 69.4%
Latin America 13.2%
Europe 7.7%
Middle East/Africa 5.3%
North America 3.9%
0%

Calendar Year Returns

AS OF 03/31/17
                           Qtr Ending Mar 17YTD 201720162015201412/01/2013 to 12/31/2013
Emerging Market Equity (Gross)11.41%11.41%-0.15%-12.07%-5.47%1.50%
Emerging Market Equity (Net)11.12%11.12%-1.24%-13.04%-6.48%1.41%
MSCI Emerging Markets11.48%11.48%11.60%-14.60%-1.82%-1.44%



Risk/Reward Since Inception

AS OF 03/31/17
  Calamos Emerging Market Equity Composite MSCI Emerging Markets
Alpha -2.59% N/A
Beta 0.87 1.00
Standard Deviation 14.73% 15.91%
Upside Semivariance 8.47% 11.12%
Downside Semivariance 9.17% 9.47%
Sharpe Ratio -0.1371 0.0442
Information Ratio -0.4811 N/A

Since Inception Up/Down Capture Vs. MSCI Emerging Markets

AS OF 03/31/17

* 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

Emerging Market Equity Institutional Strategy Fact Sheet
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.
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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.
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