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Calvert Capital Accumulation Fund (CCPIX)

Daily Performance (as of 4/15/2014)
Price $39.81
Price Change $0.21 (0.53%)
YTD Return -1.29%
Fund Facts (as of 4/15/2014)
NASDAQ Symbol CCPIX (I Shares)
Calvert Fund Number 764 (I Shares)
CUSIP Number 131649709 (I Shares)
Assets Under Management $397.22 Million

Overview

Fund Management

New Amsterdam Partners LLC

Michelle Clayman, CFA
Founder, Managing Partner and CIO

Nathaniel Paull, CFA
Partner and Senior Portfolio Manager

Top 10 Holdings

Top 10 Equity Holdings

The top 10 companies in which the portfolio invests, measured by a percentage of total investments.

Issues in Portfolio: 45
Click here for all Fund Holdings

Investment Objective

The Fund seeks to provide long-term capital appreciation by investing primarily in mid-cap stocks that meet the Fund's investment criteria, including financial, sustainability and social responsibility factors.

Investment Strategy

The Fund invests primarily in the common stocks of mid-size U.S. companies. The Fund currently defines mid-cap companies as those whose market capitalization falls within the range of the Russell Midcap Growth Index. Sub-advisor New Amsterdam favors companies which have an above market average prospective growth rate, but sell at below market average valuations. New Amsterdam evaluates each stock in terms of its growth potential, the return for risk free investments, and the risk and reward potential for the company to determine a reasonable price for the stock. The Fund seeks to invest in companies and other enterprises that demonstrate positive environmental, social and governance performance as they address corporate responsibility and sustainability challenges.

Investment Risk

Investment in mutual funds involves risk, including possible loss of principal invested. You could lose money on your investment in the Fund or the Fund could underperform because of the following risks: the market prices of stocks held by the Fund may fall; individual investments of the Fund may not perform as expected; and/or the Fund's portfolio management practices may not achieve the desired result. Prices of mid-cap stocks may respond to market activity differently from and can be more volatile than those of larger, more established companies. Mid-cap companies are more likely to have more limited product lines, fewer capital resources and less depth of management than larger companies. The Fund is non-diversified and may be more volatile than a diversified fund.


Important Disclosure

Holdings are subject to change.

Industry classifications provided by MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.


Performance

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Benchmark Index

Checking this box will compare fund performance to that of its benchmark index.

Lipper Category Index

Checking this box will compare fund performance to that of its Lipper Category Index.

Average Annual Total Returns (%) for period ending 3/31/2014
Share Class YTD QTD 1 yr 3 yrs 5 yrs 10 yrs Since Inception Inception
I Shares (No Charge) 1.09 1.09 19.55 12.37 24.07 8.13 6.06 2/26/1999
Portfolio Expenses and Turnover (from Prospectus)
(Performance data quoted above already reflects deduction for portfolio operating expenses)
Expense Ratio
(if no waiver reimbursement in effect)
Net Expense Ratio
(if waiver reimbursement in effect)
Gross Expense Ratio
(if waiver reimbursement in effect)
Fund Turnover
0.85% n/a n/a 73.00%

Hypothetical Growth of $10,000

Yearly Percentage Return

Modern Portfolio Theory Statistics* as of 3/31/2014

  Fund (IShares) Russell Midcap Growth Index
  3 yrs 5 yrs 3 yrs 5 yrs
Alpha -1.92% 0.11% 0.00% 0.00%
Beta 1.09 0.98 1.00 1.00
R-Squared 93.40% 91.07% 100.00% 100.00%
Sharpe Ratio 0.72 1.40 0.88 1.47
Standard Deviation 17.15% 17.17% 15.26% 16.80%
Excess Return -1.14% -0.65% 0.00% 0.00%
Information Ratio -0.25 -0.13 0.00 0.00
Tracking Error 4.60% 5.15% 0.00% 0.00%
*Source: Zephyr StyleADVISOR using MorningstarTM data


Standard Deviation is a measure of a fund's risk. A standard deviation of 1 means a fund can be expected to produce an annual return that is +/-1% of its average annual return 66% of the time.
Alpha is a measure of the difference between a fund's actual returns and its expected performance, given its level of risk as measured by beta.
Beta is a measure of portfolio risk relative to the market or benchmark. A portfolio beta of 1.0 indicates a risk level equal to that of the fund's benchmark.
Excess Return is return in excess of the risk-free rate or in excess of a benchmark.
R Squared is a statistical measure that represents the percentage of a fund's movements that can be explained by movements in its benchmark index.
Tracking Error is the difference in the return earned by a portfolio and the return earned by the benchmark against which the portfolio is constructed.
Information Ratio is a measure of the consistency of excess return of a mutual fund as compared to its benchmark.
Sharpe Ratio is used to measure risk-adjusted performance. It is calculated by using standard deviation and return in excess of the benchmark to determine reward per unit of risk.


Important Disclosure

From January 18, 2002 to June 3, 2003, there were no Class I shareholders in the Calvert Capital Accumulation Fund. Performance results for Class I shares during this period reflect the performance of Class A shares at NAV (i.e., without deduction of any front-end sales charge). Actual Class I share performance would have been higher than Class A share performance because Class I has lower class-specific expenses than Class A.


Pricing & Distribution

Most Recent Distributions

I Shares: Without Sales Charge
Date Type Rate Record Date Ex Date Reinvest Date Reinvest Price
12/6/2013 Long Term Gain 2.03791 12/4/2013 12/5/2013 12/5/2013 39.37
12/6/2013 Short Term Gain 0.60310 12/4/2013 12/5/2013 12/5/2013 39.37
12/28/2012 Short Term Gain 0.08412 12/26/2012 12/27/2012 12/27/2012 32.79
12/7/2012 Long Term Gain 1.85026 12/5/2012 12/6/2012 12/6/2012 32.55
12/8/2011 Long Term Gain 1.93118 12/6/2011 12/7/2011 12/7/2011 30.82
12/7/2007 Long Term Gain 0.32570 12/5/2007 12/6/2007 12/6/2007 29.00
12/7/2007 Short Term Gain 0.08744 12/5/2007 12/6/2007 12/6/2007 29.00
12/7/2001 Long Term Gain 0.01290 12/5/2001 12/6/2001 12/6/2001 26.47
12/8/2000 Long Term Gain 3.88769 12/6/2000 12/7/2000 12/7/2000 33.56
12/8/2000 Short Term Gain 1.34829 12/6/2000 12/7/2000 12/7/2000 33.56
12/23/1999 Long Term Gain 0.51068 12/21/1999 12/22/1999 12/22/1999 28.91

Holdings

Top 10 Holdings

Top 10 Equity Holdings

The top 10 companies in which the portfolio invests, measured by a percentage of total investments.

Issues in Portfolio: 45
Click here for all Fund Holdings

Important Disclosure

Holdings are subject to change.

Industry classifications provided by MSCI. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used as a basis for other indices or any securities or financial products. This report is not approved, reviewed or produced by MSCI.


Management & Commentary

Fund Management

Calvert Investment Management, Inc.

As investment advisor to the Calvert family of funds, Calvert Investment Management, Inc. oversees assets covering a broad range of equity, fixed-income, balanced, and asset allocation funds.

New Amsterdam Partners LLC

Founded in 1986 and 100 percent employee-owned, New Amsterdam applies a growth-at a-reasonable price investment strategy and a proprietary, dynamic valuation model.

Michelle Clayman, CFA
Founder, Managing Partner and CIO

Nathaniel Paull, CFA
Partner and Senior Portfolio Manager

Fees & Minimums

Annual Operating Expenses (deducted from Fund assets)

Description Expense
Management fees 0.750%
Distribution and service (12b-1) fees none
Other expenses 0.100%
Total annual Fund operating expenses 0.850%

Shareholder Fees (fees paid directly from your account)

Description Fee
Maximum sales charge (load) imposed on purchases
(as a percentage of offering price)
none
Maximum deferred sales charge (load)
(as a percentage of purchase or redemption
proceeds, whichever is lower)
none
Redemption Fee
(unless otherwise noted in the prospectus the redemption fee applies to redemptions, including exchanges within 30 days of purchase (seven days for Class I and R shares)
2.00%

Fund Expense Ratios

Description Expense
Expense Ratio
(if no waiver/reimbursement
in effect)
0.85%
Net Expense Ratio
(if waiver/reimbursement
in effect)
n/a
Gross Expense Ratio
(if waiver/reimbursement
in effect)
n/a

Investment Minimums

Description Minimum
Minimum Initial Investment (ClassI) $1,000,000
Minimum Initial Investment for IRA (ClassI) $1,000,000
Minimum Subsequent Investment (ClassI) $250

Important Disclosure

Calvert has agreed contractually to limit direct net annual operating expenses for Calvert Capital Accumulation Fund through January 31, 2015. Direct net operating expenses will not exceed 0.86% for Class I shares of the Fund. Only the Board of Trustees of the Fund may terminate the Fund's expense limitation before the contractual period expires, upon 60 days' prior notice to shareholders. Under the terms of the contractual expense limitation, operating expenses do not include interest expense, brokerage commissions, extraordinary expenses and taxes.

Management fees include the advisory fee paid by the Fund to the Advisor, and the administrative fee paid by the Fund to Calvert Investment Administrative Services, Inc., an affiliate of the Advisor.


Morningstar Style Box™

Morningstar Style

A style box is a graphical representation of a mutual fund's characteristics. Together, the vertical and horizontal axes can be used to classify a mutual fund into one of nine categories.

Medium Growth

CCPIX is categorized as: Medium Growth

Morningstar Category™

Mid-Cap Growth

Risk/Return Assessment

Risk/Return Assessment

Demonstrates where the Fund falls on a risk/return spectrum, relative to other Calvert Funds. Funds with more conservative objectives and strategies would fall on the left side of the spectrum, while funds with more aggressive objectives and strategies would appear on the right.

Compared against all Calvert Funds