Calvert Capital Accumulation Fund: I Shares

PERFORMANCE PROFILE AS OF 3/31/2013
Objective	Strategy	Morningstar Category: Medium Growth	Morningstar Box
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.	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. Subadvisor 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 addess corporate responsibility and sustainability challenges.	The Morningstar Style Box^TM reveals a fund's current investment strategy. For equity funds, the vertical axis shows the market capitalization of the stocks owned; the horizontal axis shows investment style (value, blend, or growth).

Ticker Symbol	CUSIP Number	Net Assets ($MILS)	# Of Holdings	Benchmark	Management
CCPIX	131649709	$312.1	43	Russell Midcap Growth Index	Calvert Investment Management, Inc. (Advisor) New Amsterdam Partners LLC (Sub-Advisor)

RISK MEASURES (3-Year)As of 3/31/2013
	FUND	BENCHMARK
STANDARD DEVIATION	19.35%	17.78%
ALPHA	1.38%	0.00%
BETA	1.06	1.00
EXCESS RETURN	2.21%	0.00%
R-SQUARED	94.20%	100.00%
TRACKING ERROR	4.76%	0.00%
INFORMATION RATIO	0.46	0.00
SHARPE RATIO	0.85	0.80

Source: Zephyr StyleAdvisor using Morningstar^TM and/or Lipper data.

MARKET CAPITALIZATIONAs of 3/31/2013 ($ Millions)
	FUND	BENCHMARK
Weighted Average	5,083.6	9,453.4
Median	3,956.1	4,928.3
Weighted Median	4,142.7	9,104.6

Source: Analysis performed by FactSet.

TOP HOLDINGSAs of 3/31/2013
Holding	% of Net Assets
CHURCH + DWIGHT CO INC	3.69%
WESCO INTERNATIONAL INC	3.57%
INGREDION INC	3.26%
LUFKIN INDUSTRIES INC	3.21%
POLARIS INDUSTRIES INC	3.16%
SYNTEL INC	3.06%
DST SYSTEMS INC	3.05%
VALMONT INDUSTRIES	3.04%
TRW AUTOMOTIVE HOLDINGS CORP	2.85%
COINSTAR INC	2.72%
Total	31.62%

The Fund may or may not still invest in, and no action is recommended on, companies listed. For the most recently available information on the Fund's holdings, visit www.calvert.com.

ASSET ALLOCATION% of assets as of 3/31/2013
	Equity	Fixed Income	Cash
Calvert Capital Accumulation Fund	97.96%	0.45%	1.59%

Source: State Street Bank & Trust Company

VALUATIONKey Portfolio Statistics as of 3/31/2013
	1 YEAR P/E		3 YEAR EPS GROWTH		RETURN ON EQUITY	PRICE TO CASH FLOW	PRICE TO BOOK	Dividend Yield
	PROJECTED	TRAILING	PROJECTED	TRAILING	RETURN ON EQUITY	PRICE TO CASH FLOW	PRICE TO BOOK	Dividend Yield
Calvert Capital Accumulation Fund	14.3	16.0	16.0%	32.9%	21.3%	10.4	2.8	0.7
Russell Midcap Growth Index	18.2	20.5	15.8%	33.1%	19.3%	13.1	4.8	1.1

Source: Analysis performed by FactSet.

PERFORMANCE Average Annual Returns (%) for Period Ended 3/31/2013
	QTR	YTD	1 YEAR	3 YEARS	5 YEARS	10 YEARS	SINCE INCEPTION	INCEPTION DATE
I Shares	9.61	9.61	12.41	16.44	9.22	9.65	5.17	2/26/1999
Russell Midcap Growth Index	11.51	11.51	12.76	14.23	7.98	11.53	6.26
Lipper Mid-Cap Core Funds Index	12.37	12.37	15.47	12.30	7.64	10.98	8.49

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted. Index reflects no deductions for fees or expenses. An investor cannot invest directly in an index. Visit www.calvert.com to obtain performance data current to the most recent month-end. Returns for periods of less than one year are not annualized.

PERFORMANCE ATTRIBUTIONRelative to the Russell Midcap Growth Index for the quarter ending 3/31/2013

TOP CONTRIBUTORS BY SECTORQuarter ended 3/31/2013
Sector	Average Weight	Return	Contribution
Health Care	14.67%	14.87%	2.11%
Consumer Discretionary	24.51%	6.82%	1.67%
Industrials	15.04%	10.19%	1.61%
Energy	7.98%	17.74%	1.34%
Consumer Staples	6.77%	17.14%	1.13%

TOP CONTRIBUTORS BY HOLDINGQuarter ended 3/31/2013
Holding	Average Weight	Return	Contribution
Church & Dwight Co.	3.57%	21.21%	0.71%
Syntel Inc.	2.83%	25.99%	0.69%
Gannett Co. Inc.	2.34%	22.62%	0.50%
Corporate Executive Board Co.	2.30%	23.04%	0.49%
Valmont Industries Inc.	3.09%	15.34%	0.46%

BOTTOM CONTRIBUTORS BY SECTORQuarter ended 3/31/2013
Sector	Average Weight	Return	Contribution
Utilities	0.00%	0.00%	0.00%
Telecomm Services	1.23%	9.66%	0.11%
Materials	6.22%	9.43%	0.58%
Information Technology	17.21%	4.25%	0.79%
Financials	6.37%	14.23%	0.86%

BOTTOM CONTRIBUTORS BY HOLDINGQuarter ended 3/31/2013
Holding	Average Weight	Return	Contribution
Ulta Salon Cosmetics & Frg Inc.	2.33%	-17.39%	-0.43%
Lender Processing Services Inc.	0.80%	-9.02%	-0.24%
F5 Networks Inc.	1.75%	-8.31%	-0.20%
Teradata Corp.	2.03%	-5.46%	-0.11%
Myriad Genetics Inc.	1.35%	-6.79%	-0.10%

Source: Analysis performed by FactSet. Equity holdings only. Return calculation is based on daily holding periods and excludes all fund expenses and trading costs. Portfolio weight is calculated as the average weight over the quarter.

The performance data quoted represents past performance, which does not guarantee future results. Current performance may differ from that shown. The statistical information above is taken from sources believed to be reliable but cannot be guaranteed as to accuracy.

10 BEST PERFORMERS FOR THE QUARTER as of 3/31/2013
Rank	Company	Industry	Return
1	Syntel Inc.	Information Technology	25.99%
2	Corporate Executive Board Co.	Industrials	23.04%
3	Gannett Co. Inc.	Consumer Discretionary	22.62%
4	CareFusion Corp.	Health Care	22.43%
5	Questcor Pharmaceuticals Inc.	Health Care	21.78%
6	Church & Dwight Co.	Consumer Staples	21.21%
7	FMC Technologies Inc.	Energy	20.29%
8	AmerisourceBergen Corp.	Health Care	19.69%
9	Wellcare Health Plans Inc.	Health Care	19.04%
10	First Republic Bank	Financials	17.82%

10 WORST PERFORMERS FOR THE QUARTER as of 3/31/2013
Rank	Company	Industry	Return
1	Ulta Salon Cosmetics & Frg Inc.	Consumer Discretionary	-17.39%
2	Lender Processing Services Inc.	Information Technology	-9.02%
3	F5 Networks Inc.	Information Technology	-8.31%
4	Myriad Genetics Inc.	Health Care	-6.79%
5	Teradata Corp.	Information Technology	-5.46%
6	Owens-Illinois Inc.	Materials	-3.65%
7	Expedia Inc.	Consumer Discretionary	-2.15%
8	Cubic Corp.	Industrials	-0.60%
9	IPG Photonics Corp.	Information Technology	-0.36%
10	WEX Inc.	Information Technology	0.38%

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.

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, unlike Class A, has no Rule 12b-1 fees.

Holdings are subject to change.

Net assets include all share classes.

Calvert funds are available at NAV for RIAs and Wrap Programs. Not all funds available at all firms.

I800ATT

FOR INSTITUTIONAL INVESTOR AND BROKER/DEALER USE ONLY. NOT FOR PUBLIC DISTRIBUTION.

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