DEF 14A: Calamos Funds to Hold Joint Annual Meeting of Shareholders on June 26, 2024

Calamos Funds have scheduled a joint annual meeting of shareholders for June 26, 2024, to elect trustees and consider other business matters.

Summary

• Calamos Convertible Opportunities and Income Fund, along with several other Calamos Funds, will hold a joint annual meeting of shareholders on June 26, 2024.
• The primary purpose of the meeting is to elect two trustees for each fund, with the exception of Calamos Long/Short Equity & Dynamic Income Trust (CPZ), where trustees will be elected by common shareholders only.
• For funds other than CPZ, trustees will be elected by holders of common and preferred shares voting together as a single class.
• The elected trustees will serve until the annual meeting in 2027 or until their successors are elected and qualified.
• Shareholders of record as of May 3, 2024, are entitled to vote at the meeting.
• The board of trustees unanimously recommends voting 'For' the nominees.
• Shareholders can vote by mail, online, or by telephone, or in person at the meeting.
• The proxy statement and related materials are available online at www.Calamos.com/fundproxy.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. It provides necessary information for shareholders to make informed decisions regarding the election of trustees and other matters. The board's recommendation to vote 'For' the nominees adds a slightly positive element.

Positives

• The board of trustees is actively engaged in overseeing the funds, as evidenced by the multiple committees and their activities.
• Shareholders have multiple options for voting, including mail, online, telephone, and in person.
• The funds provide clear information on how to access proxy materials and vote.
• The board of trustees has a lead independent trustee to facilitate communication and oversight.

Future Outlook

The elected trustees will hold office for a three-year term until the 2027 annual meeting or until their successors are duly elected and qualified.

Management Comments

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

Industry Context

This document is a standard proxy statement for registered investment companies, outlining the election of trustees and other governance matters, which is a common practice in the investment management industry.

Comparison to Industry Standards

• The structure of the board of trustees, with a mix of interested and independent members, is typical for registered investment companies.
• The compensation structure for non-interested trustees, including retainers and meeting fees, aligns with industry standards for closed-end funds.
• The various committees of the board, such as the Audit, Governance, and Valuation Committees, are standard for ensuring proper oversight and governance of the funds.
• The ownership structure, with significant holdings by institutional investors like Massachusetts Mutual, Great-West Life, and Northwestern Mutual, is common among closed-end funds.

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 participate in the governance of the funds by voting on the election of trustees.
• The election of qualified trustees is important for ensuring the proper oversight and management of the funds, which impacts shareholder value.

Next Steps

• Shareholders should review the proxy statement and vote on the election of trustees.
• The elected trustees will assume their roles and responsibilities.
• The board of trustees will continue to oversee the management and operations of the funds.

Key Dates

Keywords

trustees, annual meeting, proxy statement, Calamos Funds, shareholders, election, investment companies