Calamos Global Growth & Income Fund (CVLOX)

To get diversification in world market, investor can choose to invest in world allocation balanced fund. The following Calamos Global Growth & Income is one of the consistent performer funds in world allocation balanced fund. The fund invests in various investment vehicles such as fixed incomes, domestic equities, foreign equities, etc. Details about this fund's review can be found below.

Calamos Global Growth & Income A (CVLOX)

The Calamos Global Growth & Income fund is seeking high long-term total return through capital appreciation and to provide current income. The fund invests majority of assets in a globally-diversified portfolio of convertible, equity, and fixed-income securities without regard to market capitalization. This CVLOX fund invests >40% of assets in securities of foreign issuers.

CVLOX Fund Details

CVLOX fund details

• Fund Inception Date: September 1996
• Ticker Symbol: CVLOX
• CUSIP: 128119500
• Beta (3yr):  1.15
• Rank in Category (YTD): 50
• Category: World Allocation
• Distribution: 1.29%
• Dividend frequency: quarterly
• Capital Gains: if any, will be distributed annually
• Numbers of Years Up: 10 years
• Numbers of Years Down: 4 years
• Total Assets: $1.77 billion

updated on 6/19/2011

This Calamos Global Growth & Income fund has been steady performer with 10 positive years return and 4 negative years return. This fund has experienced the worst 1-year total return in 2008 with -34.51% and best 1-year total return in 1999 with 47.22%. This fund has return 6.66% over the past ten years and 13.87% over the past one year. This fund also receives 3 stars rating from Morningstar for its performance.

This fund has been managed by John Calamos since its inception in September 1996. As the 16^th largest money manager in Chicagoland, he is also the founder of Calamos Asset Management Inc. The annual expense of CVLOX is 1.36%, which is a bit higher than the category average (1.20%). This fund does have 0.25% 12b1 fee and 4.75% front-end sales load fee. The fund current dividend yield is 1.29%. The last dividend was distributed in 2010 with 1.55%.

The minimum initial investment needed to invest in the brokerage account in CVLOX is $2,500 with $50 minimum subsequent investment. Should you be interested in IRA account, the initial investment is only $500. This CVLOX can be purchased from 99 brokerages, include JP Morgan, Schwab Retail, Raymond James, EP Fee Large, etc.

The other classes of this Calamos fund are:                  

• Class C: CVLCX
• Class I: CGCIX
• Class B: CVLDX
• Class R: CVLRX

With the total net assets of this fund $1.77 billion, the fund are allocated as follows 44.6% common stock, 38.3% convertible bonds, 10.5% synthetic convertibles, 5.0% convertible preferred stock and 1.6% cash and receivables/ payables. As of March 2011, the top 10 holdings of this fund out of the 100 holdings are ARM Holdings, Novo Nordisk, Swatch Group, EMC Corp, Subsea 7, Goldcorp, HTC Corp, CNOOC Ltd, Coca Cola Company and Archer-Daniels-Midland Company. The fund major country allocations are the United States (39.1%), United Kingdom (12.9%), Canada (7.1%) and Switzerland (5.6%).

Disclosure: No Position

Other Balanced Mutual Funds:

• T Rowe Price Retirement Income Fund (TRRIX)
• Bruce Fund BRUFX