NAPERVILLE, Ill., Jan. 3, 2013 /PRNewswire/ -- Calamos Investments ®* announces the Calamos Market Neutral Income Fund (A Shares: CVSIX; C Shares: CVSCX; I Shares: CMNIX) are reopened to new accounts and new investments as of January 2, 2013.
Additionally, Morningstar, Inc. has nominated the Calamos Market Neutral Income Fund's Management Team as one of three nominees for its U.S. Alternatives Fund Manager of the Year award for 2012. This is the first year Morningstar has given a Fund Manager of the Year award for the Alternatives strategy. There are currently 361 alternative mutual funds in several categories as of December 17, 2012.
"Calamos is proud of the recognition by Morningstar. Calamos has been a pioneer in alternatives for decades, including the Calamos Market Neutral Income Fund, one of the first alternative mutual funds, which was established in 1990. The continued performance of this fund is a testimony to our capabilities in this product category. The fund has a history of delivering on client expectations of consistent returns and reduction of equity market risk, and may serve as a potential portfolio diversifier. Since the inception of the fund more than twenty years ago, we have employed multiple investment strategies to respond to evolving and changing markets as well as to explore investment opportunities," said John P. Calamos, Sr., Chief Executive Officer and Global Co-Chief Investment Officer.
The Calamos Market Neutral Income Fund seeks high current income consistent with stability of principal with the aim of maximizing current income and achieving a low correlation against the broad U.S. equity market. The fund's portfolio management team employs multiple investment strategies to achieve the investment objectives of the fund consistent with the firm's view of changing market dynamics. The fund's core strategies include the use of being both long and short the market beginning with convertible arbitrage, use of covered call writing and equities. In addition, the utilizations of select opportunistic allocations consistent with current market dynamics enhance the fund's investment objective.The Calamos Market Neutral Income Fund has been closed to new investors. "Since the inception of the fund, we have employed a flexible approach to respond to changing markets and investment opportunities. During the past year, Calamos has continued to evaluate market opportunities consistent with the fund's investment objective and strategy, risk/reward profile and achievement of the fund's investment objective. At this time we believe that reopening the fund is in the best interest of the fund's existing shareholders and allows us to seek to take advantage of a broader opportunity," said Calamos.
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