Calamos Advisors' newly launched Calamos International Growth Fund will be based on performance fees starting in March 2006. According to a filing, the fund's management fee will increase or decrease based on the fund's performance relative to its benchmark, the MSCI EAFE Growth Index.

For each one percent of deviation from the benchmark, the fund's management fee will increase or decrease by one-twelfth of 0.03 percent of the fund's average daily net assets. The adjustment will be made monthly. The fund's management fee is 100 basis points for the first $500 million of assets.

"We're pleased to introduce a performance-based fee innovation with this Fund, as it emphasizes how we strive to align our interests with our long-term shareholders," stated John P. Calamos, co-chief investment officer, in a release.

John P. Calamos and Nick P. Calamos, co-chief investment officers of Calamos Advisors, will jointly manage the fund.

Class A shares of the fund have total operating expenses of 163 basis points and Class B and Class C shares have total operating expenses of 238 basis points.  

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