NAPERVILLE, Ill., Oct. 2, 2000 (PRIMEZONE) -- John P. Calamos, President and Chief Investment Officer of CALAMOS ASSET MANAGEMENT, has announced that the firm has introduced Class B shares to the CALAMOS Family of Funds.
In commenting on the new offering, Calamos said, "We are pleased to offer financial consultants and investors this pricing alternative for funds in the CALAMOS Family of Funds. Because Class B shares immediately put all of the investor's resources to work, they make the Funds attractive to a wider range of investors. We believe this choice will introduce more investors to the benefits of convertible portfolios, which combine the income characteristics of bonds with participation in the potential performance of the underlying equities."
The CALAMOS Family of Funds now includes seven funds. The newest fund is the CALAMOS Convertible Technology Fund, which was introduced on September 11. The Fund offers investors an innovative approach to participating in the highly volatile technology market through the use of convertible bonds, which offer unique risk management characteristics.
Three additional Funds in the CALAMOS Family of Funds also offer access to convertible portfolios with varying risk/reward profiles. There are also an aggressive equity Growth Fund; a Market Neutral Fund, which utilizes a convertible hedging strategy; and a bond-oriented High Yield Fund. The new Class B shares are offered in addition to Class A, C, and I shares.
In addition, CALAMOS FINANCIAL SERVICES, INC., the Funds' distributor, has selected Firstar Mutual Fund Services, LLC, as the Funds' new transfer agent, effective September 11. Firstar was selected for its capabilities in Internet account access and other client service innovations.
About CALAMOS ASSET MANAGEMENT, INC.
CALAMOS ASSET MANAGEMENT, INC. is an independent asset management firm specializing in convertible bond research and management. Headquartered in Naperville, Illinois, CALAMOS provides professional money management services to clients that include major corporations, public and private institutions, pension funds, insurance companies and individuals. The firm has experience in convertible bonds since 1977 and currently manages approximately $6.0 billion in assets. The firm also is investment advisor to a family of seven mutual funds.
RE: CALAMOS Convertible Fund (Nasdaq:CCVIX)
CALAMOS Convertible Growth and Income Fund (Nasdaq:CVTRX)
CALAMOS Market Neutral Fund (Nasdaq:CVSIX)
CALAMOS Growth Fund (Nasdaq:CVGRX)
CALAMOS Global Convertible Fund (Nasdaq:CVLOX)
CALAMOS High Yield Fund
CALAMOS Convertible Technology Fund
For a prospectus containing more information including fees and expenses, call CALAMOS FINANCIAL SERVICES, INC., the Funds' distributor, at 1-800-582-6959. Please read it carefully before investing.
CALAMOS Convertible Technology Fund: As a non-diversified fund, investments may be concentrated in a small number of securities, which may present increased risk because each investment has a greater effect on the Fund's performance.
CALAMOS Growth Fund: Concentration of the Fund's investments in technology stocks may present a greater risk than investments in a more diversified fund. Investments by the CALAMOS Growth Fund in smaller companies present greater risks than investments in larger companies.
Each Fund may invest up to 25% of its assets in foreign securities (Global Convertible - up to 100%) which offers both risk and rewards. This may subject those assets to increased volatility, changes in the value of foreign currencies, and difficulty in obtaining information.