Calamos Value A (CVAAX)

The investment seeks long-term capital growth. The fund invests in stocks that the managers believe to be undervalued compared to their intrinsic value. It invests primarily in U.S. equity securities. The fund may invest securities of well-established companies with large market capitalizations as well as small, unseasoned companies. It generally defines a large-cap company to have a market capitalization in excess of $25 billion and a mid-sized company to have a market capitalization from $1 billion up to $25 billion. Generally, a small cap company is defined as having a market capitalization of up to $1 billion.