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Friday, September 25, 2009|
Calamos Jettisons a Fund After Poor Performance
The Calamos funds' board voted last Wednesday to liquidate the Calamos 130/30 Equity Fund. The fund has already been closed to new investors and additional purchases and exchanges, since Friday of last week. The liquidation will take place on September 30.
The fund could not achieve a satisfactory performance in the past year, and "the elimination of the Fund will allow the Calamos investment team to reduce costs and more productively focus on its remaining and more successful funds," the board stated. The Calamos 130/30 Equity Fund had assets of $13.9 million as of June.
438 funds liquidated or merged in 2008, 395 of those in the first six months.
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