Calamos Investments Limits Purchases for Calamos Growth and Income Fund and Calamos Global Growth and Income Fund

NAPERVILLE, Ill., Dec. 20, 2011 /PRNewswire/ -- Calamos Investments announces that, effective as of the close of business on January 20, 2012, the Calamos Growth and Income Fund (A shares: CVTRX; B shares: CVTYX; C shares: CVTCX; I shares: CGIIX; R shares: CGNRX) and the Calamos Global Growth and Income Fund (A shares: CVLOX; B shares: CVLDX; C shares: CVLCX; I shares: CGCIX; R shares: CVLRX) will be closed to new investors with certain exceptions.

"We believe this decision to be in the best interest of current shareholders in both of these Calamos funds. Our Investment Team continually monitors the flow of assets into our funds and determines what we believe to be the most effective way to execute the individual strategies of the funds. We believe that in order to maintain the funds' quality and integrity, it is necessary to limit inflows at this time," says John P. Calamos, Sr., Calamos Advisors LLC CEO and Co-Chief Investment Officer.

"The investment strategies of both the Calamos Growth and Income Fund and the Calamos Global Growth and Income Fund utilize convertible securities in an effort to lower the funds' volatility. Our view of the convertible market remains constructive. However, we believe there has been a lower than normal issuance of convertibles due to a persistently low interest rate environment. In addition, convertible issuance has come predominantly from companies with non-investment grade ratings and we tend to be biased toward securities with higher credit quality. Lastly, convertible redemptions are currently exceeding issuance in the U.S., which reduces the size of the market.  For these reasons, we believe that in a capacity constrained asset class such as convertibles, the size of a fund becomes important," says Calamos.

Effective as of the close of business on January 20, 2012, purchases into the Calamos Growth and Income Fund and the Calamos Global Growth and Income Fund will be limited. The funds will be closed to new investors, but current shareholders will be allowed to add to their accounts. The funds will continue to accept reinvestment of dividends and capital gains distributions on shares. New investors will still be accepted from certain platform level asset allocation models within fee-based programs and from certain retirement plans (as defined in the funds' prospectus supplements).

For more information about the Calamos Growth and Income Fund and the Calamos Global Growth and Income Fund, including further details about the limiting of new purchases and a supplement to the prospectus for each fund discussing these changes, please visit http://www.calamos.com/fundinvestor/mutualfunds.  Questions about the funds can be addressed to Calamos Client Services at 1.800.582.6959 Monday through Friday 8 a.m. to 6 p.m. Central Time.

About Calamos
Calamos Investments is a globally diversified investment firm serving the needs of institutional and individual investors for over 30 years.  The company's clients include public and private pensions, foundations, endowments, corporations, financial advisors, families and individuals from around the world who have entrusted the firm with $33.7 billion in assets under management as of 11/30/2011.

Calamos offers a range of global investment solutions - equity, fixed-income, convertible and alternatives - to work with clients' multi-asset allocation frameworks and achieve the goals of their investment programs. 

Calamos serves professional/sophisticated investors around the world through Calamos Global Funds PLC (UCITS), distributed by Calamos International LLP, London, United Kingdom. 

For more information, please visit www.calamos.com.

Important Fund Information

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.

The principal risks of investing in the Calamos Growth and Income Fund include: convertible securities risk, synthetic convertible instruments risk, equity securities risk, growth stock risk, small and mid-sized company risk, interest rate risk, credit risk, high yield risk and portfolio selection risk.

The principal risks of investing in the Calamos Global Growth and Income Fund include: convertible securities risk, synthetic convertible instruments risk, foreign securities risk, emerging markets risk, equity securities risk, growth stock risk, interest rate risk, credit risk, high yield risk and portfolio selection risk.

Before investing, carefully consider the Fund's investment objectives, risks, charges and expenses. Contact 800.582.6959 for a prospectus containing this and other information. Read it carefully.

Calamos Financial Services LLC, Distributor

SOURCE Calamos Financial Services LLC