DEF 14A: Calamos Funds Seek Shareholder Approval for Trustee Elections at Joint Annual Meeting

Calamos Funds are holding a joint annual meeting on June 26, 2024, to elect two trustees for each fund, with shareholders being asked to vote on the nominees.

Summary

• Calamos Convertible Opportunities and Income Fund, Calamos Convertible and High Income Fund, Calamos Strategic Total Return Fund, Calamos Global Total Return Fund, Calamos Global Dynamic Income Fund, Calamos Dynamic Convertible and Income Fund, and Calamos Long/Short Equity & Dynamic Income Trust are holding a joint annual meeting of shareholders on June 26, 2024.
• The primary purpose of the meeting is to elect two trustees for each fund to serve until the 2027 annual meeting.
• For all funds except Calamos Long/Short Equity & Dynamic Income Trust (CPZ), the trustees will be elected by common and preferred shareholders voting together as a single class.
• For CPZ, the trustees will be elected by the holders of common shares voting as a single class.
• The nominees for the board of each Fund are John E. Neal and Karen Stuckey.
• Shareholders of record as of May 3, 2024, are entitled to vote at the meeting.
• The board of trustees unanimously recommends voting 'For' the election of each nominee.
• The proxy statement and notice of the meeting are available online at www.Calamos.com/fundproxy.

Sentiment

Score: 7

Explanation: The document is a routine proxy statement, indicating a neutral to slightly positive sentiment due to the proactive engagement with shareholders and standard governance procedures.

Positives

• The board of trustees unanimously recommends voting 'For' the election of the nominees, suggesting confidence in their abilities.
• Shareholders have multiple options for voting, including mail, online, telephone, and in person, making it convenient to participate.
• The proxy statement and notice are readily available online, promoting transparency and accessibility.

Future Outlook

The elected trustees will serve until the annual meeting of shareholders in 2027, or until their successors are elected and qualified.

Management Comments

• John P. Calamos, Sr., Trustee and President, encourages shareholders to vote.
• The trustees of each Fund unanimously recommend that you vote 'For' the nominees on the enclosed proxy card(s).

Industry Context

The document reflects standard corporate governance practices for registered investment companies, including the election of trustees and proxy solicitations to ensure shareholder participation.

Comparison to Industry Standards

• The structure of the board of trustees, with a mix of interested and independent members, is typical for closed-end funds.
• The establishment of committees such as the Audit, Governance, and Valuation Committees aligns with industry best practices for oversight and risk management.
• The disclosure of trustee compensation and ownership aligns with regulatory requirements and promotes transparency.

Related Party Transactions

• Each Fund has an Investment Management Agreement with Calamos Advisors, where Calamos Advisors provides portfolio management services in exchange for fees based on the Fund's managed assets.

Stakeholder Impact

• Shareholders have the opportunity to influence the governance of the Funds through the election of trustees.
• The outcome of the trustee elections will impact the oversight and management of the Funds, potentially affecting investment performance and shareholder value.

Next Steps

• Shareholders need to vote on the election of trustees by June 26, 2024.
• The elected trustees will assume their roles and serve until the 2027 annual meeting.

Key Dates

Keywords

trustees, election, Calamos Funds, annual meeting, shareholders, proxy statement, investment management, closed-end funds