Calamos Global Convertible Strategy Q4 2025 Commentary

Calamos Investments568 FollowersFollow5ShareSavePlay(13min)CommentsSummaryThe global convertible market closed out a strong year with a modest fourth quarter advance, returning 23.3% and 1.6%, respectively, as measured by the FTSE Global Convertible Index.Calamos Global Convertible Strategy gained 19.09% (gross of fees) for 2025, marking its strongest year since a gain of 40.92% ((gross)) in 2020.Global issuance of $166.5 billion was extremely robust, nearly matching 2001's record issuance of $166.7 billion.The US now accounts for nearly 65% of the global convertible market, and over 70% of new issuance in 2025 came from US companies.We see reasons for optimism, supported by tailwinds that can sustain economic growth: short-term rates are more likely to move lower than higher. Donny DBM/iStock via Getty Images Summary The global convertible market closed out a strong year with a modest fourth quarter advance, returning 23.3% and 1.6%, respectively, as measured by the FTSE Global Convertible Index.

Calamos Global Convertible (CXGCX This article was written byCalamos Investments568 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.