Pension Fund Selects Calamos Asset Management

NAPERVILLE, Ill., Nov. 2, 1999 (PRIMEZONE) -- Calamos Asset Management, Inc. today announced its selection as a convertible money manager for the Boilermaker-Blacksmith National Pension Trust, Kansas City. Earlier this summer, the Trust conducted a manager search with the assistance of Callan Associates, Inc. following a decision to diversify the Trust's fixed-income allocation through the use of convertible securities. In the announcement, John P. Calamos, president and chief investment officer for the firm, commented that "convertibles are an excellent strategy to enhance the total return of a fixed-income portfolio. In fact, once again during the second quarter of this year, convertible bonds outperformed all other pure bond classes, including high-yield and high-grade bonds. With the continuing volatility in the market, convertibles are an intelligent way to capture a good portion of the upside potential in the market, while controlling the downside risk." Convertible bonds are particularly well-suited to pension funds since they produce consistent income stream while maintaining principle stability along with the opportunity for capital appreciation.

Calamos added, "We are pleased to have been selected to manage a portion of the Boilermarker's portfolio. Being fully invested throughout all market cycles allows us to take advantage of longer-term trends. This investment philosophy fit well with the Trust's objectives." The firm says that approximately 20 percent of its assets under management can be attributed to Taft-Hartly and pension plans. Calamos Asset Management Inc., headquartered in Naperville, Illinois has over 22 years experience in convertible securities investing. The firm manages approximately $4.0 billion for individual investors, institutions, endowments and foundations, pension funds and insurance companies.


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