Calamos Convertible And High Income Fund Q4 2025 Commentary

Calamos Investments559 FollowersFollow5ShareSavePlay(12min)CommentsSummaryThe US Convertible market advanced 1.97% in the fourth quarter as measured by the ICE BofA All US Convertible Index, capping off a strong 2025 calendar year.Global convertible issuance remained strong in the fourth quarter, with $40.6 billion coming to market, including $36.2 billion issued in the United States.For the quarter ending December 31, 2025, the fund rose 5.40% on price and 2.27% on NAV.The Fund’s selection in the information technology sector helped buoy relative performance, as holdings in the communications equipment and technology hardware industries delivered strong results.We believe the current economic environment is conducive to the prudent use of leverage to enhance total return and support the fund’s distribution rate. rawintanpin/iStock via Getty Images Market Overview The US Convertible market advanced 1.97% in the fourth quarter as measured by the ICE BofA All US Convertible Index, capping off a strong 2025 calendar year (+17.98%). During the quarter, convertibles captured most of the equity market'sThis article was written byCalamos Investments559 FollowersFollowCalamos Investments is a diversified global investment firm offering innovative investment strategies including U.S. growth equity, global equity, convertible, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London, New York and San Francisco. For more information, please visit www.calamos.com.