MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, October 22, 2010 Calamos Reconverts a Fund to Shut Out New Investors Calamos [see profile] is (mostly) closing Calamos Convertible to new investors again. Last week the Napierville, Illinois-based firm revealed that it will shut out new investors (with a few exceptions) from the $3.3 billion fund starting on October 29 [see filing]. Morningstar's Ryan Leggio reported on the news in the "Fund Times" column. "We believe that managing inflows will better facilitate our investment team's ability to effectively execute the investment strategy in that Fund," explained John Calamos, Sr. (Calamos' chairman, CEO and co-chief investment officer), in a statement. Discretionary advisors buying on behalf of existing shareholders in the fund, participants in retirement plans who already offer the fund, users of mutual fund wrap programs that already offer the fund, Calamos employees and other affiliates and direct Calamos clients may all be able to get around the restrictions. Calamos previously closed the fund to new investors from April 2003 to October 2008. Convertible is Calamos' oldest mutual fund, first launched in 1985. Printed from: MFWire.com/story.asp?s=33792 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |