Calamos Market Neutral Income Strategy Q3 2025 Commentary
Summarize this article with:
Calamos Investments555 FollowersFollow5ShareSavePlay(13min)CommentsSummaryThe strategy performed well during the quarter, delivering returns consistent with traditional fixed income while maintaining the reduced volatility and interest-rate risk investors seek from bond alternatives.All four sleeves of the strategy (hedged equity, convertible arbitrage, special purpose acquisition company (SPAC) arbitrage, and merger arbitrage) posted positive performance over the three quarters of the year.The portfolio’s allocation to SPAC arbitrage continued to reflect a reduced opportunity set, though new SPAC issuance has picked up considerably this year. Andrii Dodonov/iStock via Getty Images Strategy Overview The portfolio combines two complementary strategies with different responses to volatility: arbitrage seeks alpha and uncorrelated returns, while hedged equity provides income from options writing and upside participation.
Market Overview In contrastThis article was written byCalamos Investments555 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.