Sourcing Higher Distributions for Higher Monthly Income – Calamos Investments – 2.7.24


Title: Sourcing Higher Distributions for Higher Monthly Income
Date: Wednesday, February 7, 2024
Time: 1:00 PM Eastern Standard Time
Duration: 1 hour

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The current interest rate environment has created deeper-than-average discounts in the closed-end fund market. In fact, current discounts are at historic lows relative to their 5-year median (-11.8% current vs. -7.4% 5-year median). This may create a timely opportunity for investors to source potential higher market distributions and higher returns over time should the discounts narrow.*

Join the Calamos team to learn more about the current state of the closed-end fund market and a strategy designed to capture market inefficiencies while delivering high monthly income along the way: CCEF – Calamos CEF Income & Arbitrage ETF | Calamos Investments.


Matt Kaufman Matt Kaufman SVP, Head of ETFs Calamos Investments

Matt Kaufman serves as SVP, Head of ETFs at Calamos Investments, where he leads the firm’s ETF business.

Matt joined Calamos Investments in 2023 as an accomplished financial services executive with more than 20 years of experience serving the asset management and insurance industries across North America, Europe, and Asia. Matt has designed, led, and helped build hundreds of exchange-traded funds (ETFs), unit investment trusts (UITs), indexes, variable insurance trust funds, registered index-linked annuities, fixed annuities, and closed-end funds. He is also a sought-after source by leading financial publications and is a frequent speaker at industry conferences and events.

Prior to Calamos, Matt spent more than a decade at Milliman, Inc., where he served as President of the firm’s broker/dealer (Milliman Investment Management Services LLC) and as a principal of the firm’s $170b RIA (Milliman Financial Risk Management LLC). Matt also draws from his prior experience at PowerShares ETFs, where he helped the firm grow during the formative years of the ETF ecosystem.

Matt earned a B.A. in Public Administration and Economics from Cedarville University and maintains Certified ETF Advisor (CETF®) and Professional Certified Marketer® designations through The ETF Institute and American Marketing Association, respectively. He also holds FINRA Series 7, 63, and 24 and CFTC Series 3 licenses.

Robert Bush Robert Bush SVP, Director of Closed-End Fund Products Calamos Investments

Robert Bush joined Calamos in 2012. As director of closed-end fund products, he is responsible for optimizing the firm’s closed-end fund business. He acts as a liaison for the firm, communicating with the investor, research and brokerage communities about the Calamos closed-end funds. In addition, he works closely with the Calamos executive, investment, marketing and distribution teams regarding product development, strategy and enhancements for new and established closed-end funds. Previously, he worked as a managing director in the financial institutions group for Citigroup Investment Banking. In this capacity, he was responsible for the closed-end fund product development, syndication and capital raising for that firm’s asset management clients. Subsequent to his investment banking career, he worked as a financial advisor for Morgan Stanley Smith Barney’s Wealth Management Group. He holds Series 7, 24, 31, 63 and 65 licenses. BA in Business Administration – Accounting , Franklin and Marshall College, MBA in Finance, Fairleigh Dickinson University.

Shaheen Iqubal, CFA Shaheen Iqubal, CFA SVP, Head of Quantitative Investments, Co-Head of Risk, and Associate Portfolio Manager Calamos Investments

Shaheen Iqubal joined Calamos in 2017 and has 23 years of investment industry experience. Shaheen is responsible for oversight of our quantitative investment and risk management teams and has ETF portfolio management responsibilities. Prior to joining the firm, Shaheen was executive director and senior quantitative analyst in the applied research group at UBS Asset Management. During his tenure at UBS, Shaheen also managed emerging markets systematic fund. Earlier in his career at UBS, he held the role of senior applications developer in the investment IT group. Shaheen earned an MBA from the University of Chicago Booth School of Business, with concentrations in Analytical Finance and Economics. He received a B.S. with concentrations in Mathematics and Chemistry from Ranchi University and an honors diploma in Software from the National Institute of Information Technology, India. He is a member of the CFA Institute, the CFA Society of Chicago, and the Chicago Quantitative Alliance (CQA).


Before investing, carefully consider the fund’s investment objectives, risks, charges and expenses. Please see the prospectus and summary prospectus containing this and other information which can be obtained by calling 1-866-363-9219. Read it carefully before investing.

An investment in the Fund(s) is subject to risks, and you could lose money on your investment in the Fund(s). There can be no assurance that the Fund(s) will achieve its investment objective. Your investment in the Fund(s) is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund(s) can increase during times of significant market volatility. The Fund(s) also has specific principal risks, which are described below. More detailed information regarding these risks can be found in the Fund's prospectus.

Risks of investing in the Fund include risks associated with (1) the Fund’s investment in closed-end fund shares; (2) the closed-end funds’ investments; and (3) any other investments of the Fund, including investments in ETFs, BDCs, and derivative instruments. The shares of closed-end funds may trade at a discount or premium to, or at, their NAV. The securities of closed-end funds may be leveraged. As a result, the Fund, may be exposed indirectly to leverage through an investment in such securities. An investment in securities of closed-end funds that use leverage may expose the Fund to higher volatility in the market value of such securities and the possibility that the Fund’s long-term returns on such securities (and, indirectly, the long-term returns of its shares) will be diminished. In addition, closed-end funds are allowed to invest in a greater amount of illiquid securities than open-end mutual funds. Investments in illiquid securities pose risks related to uncertainty in valuations, volatile market prices, and limitations on resale that may have an adverse effect on the ability of the fund to dispose of the securities promptly or at reasonable prices. The Fund may invest in BDCs, which typically operate to invest in, or lend capital to, early stage-to-mature private companies as well as small public companies. The Fund’s investment in shares of ETFs subjects it to the risks of owning the securities underlying the ETF, as well as the same structural risks faced by an investor purchasing shares of the Fund, including authorized participant concentration risk, market maker risk, premium-discount risk and trading issues risk. Derivatives are instruments, such as futures and forward foreign currency contracts, whose value is derived from that of other assets, rates or indices. The use of derivatives for non-hedging purposes may be considered more speculative than other types of investments.

*Source: Morningstar as of 12/31/2023. These stats are based on the median of all US listed CEFs. Past performance is not indicative of future results. The performance of the Fund will differ, and many vary materially from that of any index. There is no assurance the Fund will achieve or maintain its investment objective. Closed-end fund data represents all US listed closed-end funds. The other category data represents all US investments in each respective Morningstar open end category, which includes mutual funds and ETFs.