The Calamos International Growth Fund returned 2.79 percent for the quarter ended March 31, 2026.
The fund outperformed its benchmark, the MSCI EAFE Growth Index, which declined 4.62 percent over the same period. Managers adjusted holdings to balance cyclical and defensive stocks while maintaining focus on themes such as optical networking, robotics, and space technology. Exposure to financials was reduced amid concerns over yield curves and private credit. Information technology, particularly semiconductors, contributed positively through security selection and an overweight stance. The team noted ongoing opportunities in emerging markets linked to artificial intelligence supply chains and infrastructure spending.