The third quarter of 2025 witnessed a robust upturn in global stock markets, fueled by positive developments in international trade, consistent corporate profit growth, and substantial market liquidity. This favorable environment propelled the MSCI ACWI Index to a 7.74% return during the quarter, with developed markets, as measured by a relevant index, yielding 7.36%. Against this backdrop, the Calamos Global Total Return Fund (CGO) demonstrated impressive results, recording a 4.92% increase in its market price and a 7.75% rise in its Net Asset Value (NAV).
The fund's strong performance was significantly bolstered by its astute selection of securities and a strategic overweight allocation within the information technology sector. This strategic positioning proved highly beneficial, allowing the fund to capitalize on the prevailing market trends. Looking ahead, the management team at Calamos Global Total Return Fund continues to identify promising investment avenues across diverse thematic areas, geographical regions, and company sizes, seeking to leverage ongoing market dynamics.
The current investment landscape presents numerous avenues for growth, with the fund actively exploring opportunities in the United States, Europe, Japan, and emerging markets. A particular focus remains on companies exhibiting secular growth, those integral to the artificial intelligence supply chain, and maintaining a disciplined approach to risk management amidst evolving global economic conditions. This proactive strategy aims to capture value and navigate potential market fluctuations effectively, underscoring a commitment to sustained positive returns for investors.