NAPERVILLE, Ill., May 18, 2004 (PRIMEZONE) -- CALAMOS INVESTMENTS has released portfolio data as of April 30, including asset allocation, quality allocation, representative holdings, sector weightings and other fund characteristics for the CALAMOS Strategic Total Return Fund (NYSE:CSQ) (Cusip No.: 128125 10 1). The portfolio data will be posted on Calamos' website at www.calamos.com. Printed copies can be obtained by calling (800) 582-6959.
John P. Calamos, Sr., who, along with Nick P. Calamos, leads the investment team's management of the Fund, said "We are well on our way to establishing a fully invested, leveraged (see note) portfolio of securities that we believe will benefit from continued strengthening of the economy. Historically, many equity-sensitive securities, including certain convertible and high-yield securities, actually perform well during periods of rising interest rates.
Notwithstanding recent market activity, our outlook is that rising interest rates are the byproduct of accelerating economic growth, and that prospects for portfolios focused on such opportunities are better than what's being currently reflected. We believe the Fund is positioned to benefit from this trend as well."
The Fund began trading on the New York Stock Exchange on March 26, 2004, as the third closed-end offering by CALAMOS. The Strategic Total Return Fund invests primarily in common and preferred stocks and income-producing securities such as investment grade and below-investment grade debt securities. Under normal circumstances, the Fund invests at least 50% of its managed assets in equity securities which includes securities that are convertible into equity securities. Additional information is posted on the firm's website, www.calamos.com.
About CALAMOS
CALAMOS INVESTMENTS provides professional money management services to clients that include major corporations, public and private institutions, pension funds, insurance companies and individuals and is an investment advisor to open-end and closed-end funds. It offers high yield, equity, global, growth and income, convertible, and alternative investment strategies. Engaged in securities research and investing since 1977, the firm manages approximately $28.8 billion in assets as of April 30, 2004.
Note: Leverage creates risks which may adversely affect return, including the likelihood of greater volatility of net asset value and market price of common shares; and fluctuations in dividend rates on preferred shares.
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Past performance is no guarantee of future results.
You can purchase or sell common shares daily. Like any other stock, market price will fluctuate with the market. Upon sale, your shares may have a market price that is above or below net asset value and may be worth more or less than your original investment. Due to ongoing market volatility, performance is subject to substantial short-term fluctuations.
The Funds invest in lower-rated fixed-income securities, often referred to as "junk bonds," which generally present greater risks than higher quality securities, because of the greater likelihood that the company issuing the lower-rated securities will default on income and principal payments. Shares of closed-end funds frequently trade at a market price that is below their net asset value.