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Rating:Calamos Plans to Pull the Plug on a $15.8 Million Fund Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, December 16, 2010

Calamos Plans to Pull the Plug on a $15.8 Million Fund

News summary by MFWire's editors

Calamos Investments plans to liquidate the $15.8 million Calamos Multi-Fund Blend Fund early next year. The fund-of-funds invests equally in three Calamos mutual funds: Growth, Value and Global Growth. The three will remain open.

Multi-Fund Blend stopped accepting new investments at the close of business yesterday. The fund will be liquidated on or about January 31, 2011. [SEC filing]

"Given the Fund's size, economies of scale were sorely lacking in the attempt to combine our Growth, Value, and Global Growth and Income products, as most investors instead gravitated to these individual component funds," company officials wrote in a Q&A posted on Calamos' Web site.

"Therefore, the Fund seemed to have outlived its intended purpose, leading us to view a recommitment to our existing competencies and product line as a more prudent deployment of effort and resources at this time," they added. 

Edited by: Armie Margaret Lee

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