Calamos Emerging Markets Fund

Transcription

1 calamos.com Calamos Emerging Markets Fund Companies Not Countries, an Innovative Approach This document does not constitute an offer or solicitation to invest in the Fund. It is directed only at professional/sophisticated investors and it is for their use and information. This document should not be shown or given to retail investors. Any entity responsible for forwarding this material to other parties takes responsibility for ensuring compliance with the financial promotion rules.

2 Driven by Independent Thinking 2 CALAMOS EVOLVING WORLD GROWTH FUND

3 Calamos Investments is a a globally diversified investment management firm serving institutional and individual investors. For more than 30 years, Calamos has helped its clients achieve their long-term goals through innovative investment solutions. The firm traces its origins back to the difficult financial markets of the 1970s, when it developed pioneering strategies to manage risk. Calamos has expanded its capabilities throughout the years, and began investing outside the U.S. in the late 1980s. The firm has a proven track record of managing growth portfolios toward a lower-volatility outcome. In 2011, Calamos launched Calamos Emerging Markets Fund to capitalise on the secular themes that we believe will drive the growth in global economy for decades to come. Drawing upon the firm s historically lowervolatility approach to emerging markets opportunity, the fund may provide a compelling core, strategic investment within a long-term equity allocation. CALAMOS EMERGING MARKETS FUND Companies Not Countries Offers participation in growth of emerging markets driven by the rise of middle class consumption Invests in global growth companies with an emphasis on emerging-markets revenue rather than country of domicile Utilises decades of experience of combining equities and convertible securities to manage risk and return profile BRINGING AN EXPERIENCED APPROACH TO GLOBAL OPPORTUNITY First institutional convertible strategy, managed to provide equity participation with potentially lower volatility Begin investing outside the U.S. First growth equity mutual fund Launch of first global mutual fund, combining equities and convertible securities International growth strategy debuts Global growth equity strategy launched Calamos Emerging Economies Strategy 1979 LATE 1980s 1990s Calamos Global Funds PLC Opens London office Calamos Emerging Markets Fund 3

4 Emerging Markets and the Global Economy Since the 1990s, many emerging markets (EMs) have improved their balance sheets by increasing foreign currency reserves, reducing their debt, and generating higher GDP growth. As a result, emerging markets are an increasingly important driver of global GDP growth. Global middle class consumption will be dominated by emerging market consumers, data suggests. Led by the EMs, a youth boom is underway. These demographic shifts could create a large EM population of young and middle-age adults who are seeking middle class lifestyles for themselves and their families. This may provide sustained support for increased EM consumer activity and, in turn, for global economic growth. EMs, A SIGNIFICANT DRIVER OF GLOBAL GDP 2013 GLOBAL GDP % (ESTIMATED) ROW 8% Europe 24% Japan 7% U.S. 23% Emerging Markets 38% Source: International Monetary Fund World Economic Outlook Database, October THE EMERGING MARKET MIDDLE CLASS: A RISING FORCE IN THE GLOBAL ECONOMY SHARE OF GLOBAL MIDDLE CLASS CONSUMPTION, (PROJECTED) YOUTH BOOM IN EMERGING MARKETS PROJECTED WORLD POPULATION, 2030 POPULATION IN THOUSANDS 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 32% More Developed Regions 1,500,000 1,000,000 46% 13% 500,000 21% 21% 12% 3% AGE GROUP More developed regions comprise Europe, Northern America, Australia/New Zealand and Japan. Less developed regions comprise all regions of Africa, Asia (excluding Japan), Latin America and the Caribbean plus Melanesia, Micronesia and Polynesia. Source: Population Division of the Department of Economic and Social Affairs of the United Nations Secretariat, World Population Prospects: The 2010 Revision. 53% Less Developed Regions 100% 80% 60% 40% 20% United States Japan Others 0% % 80% 60% 40% 20% Source: Homi Kharas, The Emerging Middle Class in Developing Countries. OECD Development Centre. 26 Jan Web. Mar Other Asia is defined as Asia excluding Japan, India and China. EU Other Asia India China 0% Over 50% 4 CALAMOS EMERGING MARKETS FUND

5 The growth of a middle class and national prosperity in emerging markets are reshaping the global economy and creating opportunities for companies around the world. A rapidly expanding middle class in emerging markets is increasing demand for a wide range of goods and services. We believe this translates into growth opportunities for the global companies supplying that demand including those domiciled in developed markets. EMS: INCREASED DEMAND AND UNTAPPED POTENTIAL PENETRATION RATES AS A PERCENTAGE OF POPULATION U.S. Brazil India China INTERNET USERS PASSENGER CARS CELL PHONE USERS Source: World Bank, December Most recent data available as of 31/12/2012. EMERGING MARKET TRENDS, GLOBAL GROWTH OPPORTUNITIES The growing prosperity and progress in emerging markets creates opportunities for companies around the world. Consumer sectors. The rapid expansion of a middle class is providing new markets for globally branded consumer staples, including foods, beverages and personal products. Technology and telecommunications. Technology and telecommunication companies are providing affordable ways for emerging market consumers to stay connected to each other and to information, for example, through affordable smart phone technologies. Commodities. Infrastructure build-out and development projects in emerging markets can provide a boost to companies in sectors such as materials, energy and agriculture. 5

6 Calamos Emerging Markets Fund Companies Not Countries The Calamos investment management team positions the fund to participate in the growth of emerging markets through an innovative approach. A global approach to emerging market opportunity. The fund invests in companies based in emerging markets, and companies in developed markets that have a significant percentage of invested assets in emerging markets or derive a significant portion of firm revenues from them. The flexibility to invest in developing and developed markets may mitigate the risks of investing solely in companies domiciled in emerging markets. Opportunistic use of convertible securities. Calamos Emerging Markets Fund has the flexibility to invest in equity-sensitive convertible securities. Because they offer equity participation with potential downside resilience, Calamos views them as lowervolatility equity investments. KEYS TO FUND RISK MANAGEMENT GLOBAL COMPANIES DIVERSIFIED REVENUES CONVERTIBLES Favour companies with diversified revenues. The investment team emphasises companies with geographically diversified revenues streams. This provides greater opportunity to participate in long-term global growth themes, whilst reducing the risk associated with any one economy. 6 CALAMOS EMERGING MARKETS FUND

7 Please contact us for more information about the advantages of our differentiated approach to emerging markets. A Global View of EM Opportunity The investment team s emphasis is on what a company is doing and the clients it serves, not where it s located. As the chart below shows, the investment team has found companies around the world that are participating in the growth potential of emerging markets. TOP 10 HOLDINGS INDUSTRY COUNTRY Tencent Holdings, Ltd. Internet Software & Services China 4.7% MediaTek, Inc. Semiconductors Taiwan 3.5 Taiwan Semiconductor Manufacturing Company, Ltd. Semiconductors Taiwan 3.4 Samsung Electronics Company, Ltd. Semiconductors South Korea 2.8 Apple, Inc. Computer Hardware United States 2.5 Genomma Lab Internacional, SAB de CV Pharmaceuticals Mexico 2.1 Schlumberger, Ltd. Oil & Gas Equipment & Services United States 2.0 AIA Group, Ltd. Life & Health Insurance Hong Kong 2.0 Biostime International Holdings, Ltd. Packaged Foods & Meats China 2.0 HSBC Holdings, PLC Diversified Banks United Kingdom 2.0 Source: Calamos. Data is as of 31/12/13. Holdings are subject to change daily. Holdings are provided for informational purposes only and should not be deemed as a recommendation to buy or sell the securities mentioned. Holdings exclude cash or cash equivalents, any government/sovereign bonds or broad based index hedging securities the portfolio may hold. 7

8 AMERICAS Phone: x3943 Calamos U.S. Toll Free: ASIA Phone: EMEA Phone: +44 (0) Calamos UK Free Phone: 0(808) The Fund is a sub-funds of Calamos Global Funds PLC, an investment company with variable capital incorporated with limited liability in Ireland (registered number ), and is authorised and regulated by the Irish Financial Regulator as an Undertaking for Collective Investment in Transferable Securities ( UCITS ). The Company is a recognised scheme in the U.K. for the purposes of the Financial Services and Markets Act 2000, but is not authorised under such Act and therefore investors will not be entitled to compensation under the U.K. Financial Services Compensation Scheme. Calamos Global Funds PLC has been established as an umbrella fund with segregated liability between subfunds and is authorised pursuant to the European Communitie (Undertakings for Collective Investment in Transferable Securities) Regulations 2003 as amended. Calamos Investments LLP, is authorised and regulated by the Financial Conduct Authority, and is the distributor of the Calamos Global Funds PLC. The Funds are offered solely to non-u.s. investors under the terms and conditions of the Funds current prospectus. The prospectus contains important information about the Funds and should be read carefully before investing. A copy of the full and simplified prospectus for the Funds may be obtained by visiting or by contacting the local Paying Agent listed by jurisdiction at or through the Funds Transfer Agent, RBC Investor Services Ireland Limited, listed at: Calamos Global Funds PLCc/o RBC Investor Services Ireland Limited Georges Quay House 43 Townsend Street Dublin 2 Ireland Tel: (353) Fax (353) Web: dublin_ta_customer_support@rbc.com The opinions referenced are as of the date of the publication, are subject to change due to changes in the market or economic conditions, and may not necessarily come to pass. Calamos Investments LLP No. 1 Cornhill London, EC3V 3ND, UK Tel: +44 (0) Calamos Investments LLC 2020 Calamos Court Naperville, IL Tel: Calamos Global Funds PLC c/o RBC Investor Services Ireland Limited Georges Quay House 43 Townsend Street Dublin 2 Ireland Tel: Fax: dublin_ta_customer_support@rbc.com 2014 Calamos Investments LLC. All Rights Reserved. Calamos and Calamos Investments are registered trademarks of Calamos Investments LLC. CGEMBRO 11054b 1213Q IO