The Process Pillar is our assessment of how sensible, clearly defined, and repeatable CMNIX’s performance objective and investment process is for both security selection and portfolio construction. It combines two complementary strategies: convertible arbitrage aimed at delivering alpha and uncorrelated returns and options writing for income and upside participation. USD | NAV as of Nov 12, 2020 | 1-Day Return as of Nov 12, 2020, 10:38 PM GMT+00:00. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP and Calamos Financial Services LLC. While at Calamos, Mr. Hill has focused on select areas, including the market neutral income strategy. Current performance may be lower or higher than the performance quoted. Morningstar ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly historical performance (reflecting sales charges), placing more emphasis on downward variations and rewarding consistent performance. Alternative funds seek to accomplish the fund's objectives through non-traditional investment strategies that offer exposure beyond traditional stocks, bonds, and cash. The strategy’s ability to weather recent market turmoil helped strengthen its case, leading to an upgrade of its Morningstar Analyst Rating to Bronze for the cheapest share classes while the most expensive share class remains Neutral. The Fund(s) also has specific principal risks, which are described below. Headquartered in the Chicago metropolitan area, the firm also has offices in New York, San Francisco, Milwaukee and the Miami area. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-800-582-6959. Like bonds, convertibles provide income and potential downside protection in declining markets. View original content:http://www.prnewswire.com/news-releases/pioneering-calamos-market-neutral-income-fund-marks-three-decades-of-liquid-alternatives-leadership-301151531.html. The Parent Pillar is our rating of CVSIX’s parent organization’s priorities and whether they’re in line with investors’ interests. The fact that the fund remains a category leader in terms of both performance and asset growth three decades later is as much a testament to the team culture of excellence he instilled as it is to the genius of the original idea. Prior to joining Calamos, Mr. Hill held positions as both a Research and Risk Analyst at HFR Management, LLC. For perspective on this milestone, we sat down with John P. Calamos, Sr., who … Terms of Service apply. Calamos Investments LLC, referred to herein as Calamos Investments®, is a financial services company offering such services through its subsidiaries: Calamos Advisors LLC, Calamos Wealth Management LLC, Calamos Investments LLP and Calamos Financial Services LLC. You should read the accompanying prospectus and any accompanying prospectus supplement, which contain important information, before deciding whether to invest in our securities. Touch device users, explore by touch or with swipe gestures. To view the report, click here. Each fund is rated exclusively against U.S. domiciled funds. "The fundamental driver behind MNI was that individual investors—like the institutional players that were beginning to diversify into hedge funds and other low beta strategies at the time—also deserved access to an investment product that would help them reduce risk while still participating in market upside," said Calamos. The strategy historically has exhibited a lower equity beta, lower correlations to both the equity and fixed income markets, lower absolute volatility and limited drawdowns. The declining interest rates of the past decade provided a strong tailwind for bond funds. Unlock our full analysis with Morningstar Premium. Calamos Market Neutral Income’s experienced management team and proven convertible arbitrage expertise overcome concerns about its fast-growing asset base. We want to thank all the investment professionals and their clients who have entrusted us over the past three decades and continue to this day. 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Portfolio performance, characteristics and volatility may differ from the benchmark(s) shown. The information contained herein is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. "With this year's sharp equity market movements and the long-term secular trend of low interest rates showing no sign of abating, an income-generating strategy that thrives on volatility is even more relevant today. Calamos Financial Services LLC, Distributor. Morningstar Overall RatingTM Among 101 Market Neutral funds. Our hypothetical illustration using Calamos Market Neutral Income Fund (CMNIX) offers a potential alternative solution for investors saving for retirement with traditional fixed income securities. Such expenses are required to be treated as a Fund expense for accounting purposes and are not payable to Calamos Advisors LLC. Important Legal Information | Privacy Policy | Business Continuity | Code of Business Conduct and Ethics | Pillar 3 | Remuneration Code | ERISA 408(b)(2). Check the background of the firm and its investment professionals on FINRA's BrokerCheck. Investors cannot invest directly in an index. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers. Dow Jones Industrial Average, S&P 500, Nasdaq, and Morningstar Index (Market Barometer) quotes are real-time. There can be no assurance that the Fund(s) will achieve its investment objective. Calamos Financial Services LLC, Distributor. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Average annual total return measures net investment income and capital gain or loss from portfolio investments as an annualized average. The Bloomberg Barclays U.S. Government/Credit Bond Index includes treasuries and agencies that represent the government portion of the index, and includes publicly issued U.S. corporate and foreign debentures and secured notes that meet specified maturity, liquidity, and quality requirements to represent credit interests. All performance shown assumes reinvestment of dividends and capital gains distributions. Morningstar Market Neutral Category represent funds that attempt to eliminate the risks of the market by holding 50% of assets in long positions in stocks and 50% of assets in short positions. The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating. Before investing, carefully consider the fund's investment objectives, risks, charges and expenses. Check the background of the firm and its investment professionals on FINRA's BrokerCheck. Learn how an alternative allocation may potentially enhance a portfolio’s diversification and decrease exposure to market volatility. Naperville, IL 60563-1463. Calamos Market Neutral Income Fund Quarterly Commentary, Calamos Market Neutral Income Fund Fact Sheet, Maximizing the Opportunity in Convertible Securities, A Hypothetical Illustration Using an Alternative Approach for Retirement Assets, The Opportunity of Convertible Securities, Convertible Securities: Structures, Valuation, Market Environment, and Asset Allocation, Embrace Volatility to Find Potential Stability, Don’t Let Volatility Rob Investors of Their Greatest Advantage: Time, Demonstrated Resilience When Interest Rates Rise, Calamos Strategies for Different Market Periods, Alternatives 101: Tools for Enhancing Asset Allocation, Calamos Investments Liquid Alternatives Platform, Calamos Long/Short Equity & Dynamic Income Trust (CPZ), Calamos Dynamic Convertible and Income Fund (CCD), Calamos Strategic Total Return Fund (CSQ), Calamos Convertible and High Income Fund (CHY), Calamos Convertible Opportunities and Income Fund (CHI), International Growth Concentrated Strategy, Video: Convertible Arbitrage: An Old-School All-Weather Strategy, Video: Convertible Arbitrage - Sources of Income, Video: Why Convertible Arbitrage Is a True Market Neutral Strategy, Video: Convertible Arbitrage Is in Calamos’ Roots, Video: Global Convertible Market Is Healthy.