Calamos Evolving World Growth Fund Class A (CNWGX) is an open-end mutual fund managed by Calamos Advisors LLC that seeks long-term capital appreciation through an active, risk-managed equity strategy focused on emerging markets growth opportunities. The fund primarily invests in common stocks, convertible securities, and options of emerging market-domiciled companies and developed market-domiciled companies deriving significant revenue from emerging markets; it emphasizes countries pursuing structural reforms and economic freedoms to enhance growth and mitigate risk, with current top holdings including Taiwan Semiconductor Manufacturing Company Ltd., Goldman Sachs Finance convertible bonds, and Samsung Electronics Co. Ltd. across sectors such as information technology (31.3%), consumer discretionary (18.4%), and financials (14.3%).
Launched on August 15, 2008, and headquartered in Naperville, Illinois, the fund operates globally with primary exposure to emerging markets including Taiwan, South Korea, India, China, and others, serving individual and institutional investors through Class A shares (with a 4.75% front-end sales load and net expense ratio of 1.30%), Class C shares, and Class I shares.
In recent developments, Calamos Advisors contractually agreed to waive fund expenses through March 1, 2026, to cap total annual operating expenses at 1.30% for Class A shares, reflecting ongoing commitment to cost management; the fund posted preliminary 2025 capital gains estimates on November 3, 2025, and declared 2024 distributions on December 23, 2024, amid year-to-date NAV performance of 20.41% through September 30, 2025, outperforming the MSCI Emerging Markets Index in risk-adjusted terms over certain periods.