Monday, April 23, 2007

Market Neutral Funds - Calamos

Definition -- "market-neutral funds," from smartmoney.com in 1999:
Market-neutral funds "neutralize" the effect of the market by owning both long and short equity positions. The long positions presumably earn high returns in a bull market, while the short positions post gains in a bear market. Some try to beat the three-month Treasury bill (which currently yields 4.62%) by as much as six percentage points. And they try to do that with very little volatility. (read more...)

Example -- "Calamos Market Neutral Fund (CVSIX)," from findarticles.com in Nov 2002:
Kinnel says that he is impressed by some "market neutral" funds that have adopted the hedge funds approach of aiming for profits in all kinds of markets. These "tame versions" of hedge funds have had mixed results, but there are some he cites with approval. "Calamos Market Neutral Fund (CVSIX) is run by a manager who is very knowledgeable about convertible bonds," he says. (read more...)

About Calamos...

1. morningstar on calamos (2006/7?)

2. Bloomberg on Calamos:

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