Investment Professionals, Welcome to Calvert!
The decision to integrate the strategies of these two UNIFI Company subsidiaries provides many advantages including:
- Keeping the continuity of portfolio management teams and established track records of performance
- Creating economies of scale in mutual fund operations, which will provide the same or lower expenses for the funds
- Award-winning fixed income* and sustainably managed equity funds that go beyond traditional financial measures to deliver incremental value to our shareholders
- Flexible investment options, with multiple share classes (including A, I, Y, C, and R) to meet your clients' needs
- Experienced money managers with a proven track record under various market conditions
- Premier equity sub-advisors who provide expertise in their areas of specialization
- Our award-winning website www.calvert.com, which features an abundance of sales tools and fund literature to help satisfy client needs and build your book of business, including:
- Investment process pieces and fact sheets on the mutual funds and insurance accounts
- News, market commentaries, portfolio manager webcasts and conference calls, and newsletters—available both on the website and through our Business Builder and Institutional Insight emails
- Prospecting resources including sales tools, brochures and white papers
- Sustainable investing resources such as issue briefs, our popular Mutual Funds that Make a Difference brochure, and the speaking availability of our expert analysts
Who is Calvert?
For more than 30 years, Calvert has been dedicated to offering quality mutual fund investments through financial professionals. Our award-winning fixed income funds and innovative equity funds are managed by experts who average more than 20 years of industry experience and have established a history of solid performance in their investment styles.
Today, Calvert manages more than $11 billion (as of 11/30/2008) in assets for financial advisors’ clients and institutions. These investors trust our investment approach, with its emphasis on rigorous fundamental research that goes beyond traditional measures to uncover companies strongly positioned for potential long-term success.
How is this merger impacting the Funds?
Summit Bond Fund and Summit Money Market Fund will be merged into the Calvert Income Fund and Calvert Cash Reserves Institutional Prime Fund, respectively. The mergers provide similar investment objectives, stronger performance track records with comparable portfolio characteristics, and lower expense ratios.
Everest Fund manager James McGlynn and his team, consisting of assistant portfolio manager, Yvonne Bishop and senior analyst, Soniya Choksi, will join CAMCO’s in-house equity team, ensuring Fund shareholders will continue to enjoy the same management expertise. Everest will be merged into a newly created portfolio named Calvert Large Cap Value Fund. This fund will feature a new approach known as Calvert SAGE™ - that’s Sustainability Achieved through Greater Engagement. Under the SAGE approach, James will continue to invest in most of the same types of companies found in today’s Everest portfolio. For those companies that do not meet Calvert’s sustainability standards; Calvert will take advantage of its position as company shareowner to advocate for improvements on key sustainability concerns through focused dialogue with company management, shareholder resolutions, and other engagement tools.
High Yield Bond Fund assistant portfolio managers Kevin Aug and Sam Cooper will become part of CAMCO’s award-winning taxable bond team led by Greg Habeeb. Establishing a high-yield bond strategy has been a top priority at Calvert. Consistent with the management approach for the majority of taxable bond portfolios at Calvert, the High Yield Bond Fund will not employ any environmental, social and governance sustainability criteria in the investment management process.
Short-Term Government Fund will also become part of Calvert’s taxable bond fund line-up.
Nasdaq-100 Index Fund (former Apex Series) is being liquidated and the Fund dissolved. If your plan holds any assets in this fund at the close of the stock market on December 12, 2008, the assets will be transferred to the Calvert Cash Reserves Institutional Prime Fund Class I Shares. (Please note: Summit Nasdaq-100 Index Portfolio in the former Pinnacle Series remains active.)
All exchange-traded and indexed variable insurance trust portfolios will retain Summit Investment Partners, Inc. as sub-advisor with Calvert assuming the role of Advisor. The one exception is EAFE International Index Portfolio, which will continue to be sub-advised by World Asset Management, Inc. As a result, the current investment management teams, performance track records, and expense ratios will remain the same.
Finding Your Way Around the Calvert Website
You'll find a wealth of sales tools and fund literature to help meet client needs and build your book of business on the Calvert Advisor site. Resources such as:
- Investment Process Pieces, Fund Fact Sheets, Portfolio Manager Interviews and other fund literature for the 14 fixed-income, 13 equity, and 4 asset allocation/balanced retail funds
- Timely, in-depth market analysis from portfolio managers and our investment team, keeping you up-to-date on how the market is affecting your clients' investments
- A variety of sales tools, collateral and educational materials to share with clients
- Access to your clients' accounts through DST Vision® and Financial Advisor Network™ Mail
- Email subscriptions to have news, market commentaries, fund information and more—you choose exactly what you want and when you want it—delivered to your in-box with Business Builder emails
You may have already received a log-in for the Financial Advisor section of the Calvert website. If you have not received it, please call us at 800.987.2770 or register online.
NOTE: Information on the (former) Pinnacle Portfolios and other insurance investments is available without a log-in at the Calvert Institutional site, under Insurance Companies.
Who to Contact
Most of your contacts will not be changing. If you are trying to reach your sales representative just call 800.368.2750 and ask to be connected to them.
We look forward to working with you!
Specific Fund Information
The chart below lists each Summit Fund on the left and its new name in the Calvert Fund family on the right. Simply click on either fund name and you'll be taken to its Profile and performance information.
For more information on any Calvert fund, please contact your financial advisor or call Calvert at 800.368.2748 for a free prospectus. An investor should consider the investment objectives, risks, charges, and expenses of an investment carefully before investing. The prospectus contains this and other information. Read it carefully before you invest or send money.
An investment in a Calvert money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although each Calvert money market fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in these Funds.
* Calvert Social Investment Fund (CSIF) Bond Portfolio Class I Shares (CBDIX) has won the Lipper Award for the three-year period, for four of the last five years. For the three-year periods ended December 31, 2003, 2005, 2006, 2007 the Class I Shares of the Portfolio were chosen from among 154, 152, 150, and 144 funds, respectively, in the Corporate Debt Funds A Rated classification. The CSIF Bond Portfolio Class I Shares (CBDIX) received the Lipper Award (out of 128 funds) in the Corporate Debt Funds A Rated classification for the five-year period ended December 31, 2007. The CSIF Bond Portfolio Class A Shares (CSIBX) received the Lipper Award (out of 58 funds) in the Corporate Debt Funds A Rated classification for the ten-year period ended December 31, 2007. The Calvert Income Fund Class A Shares (CFICX) received the Lipper Award (out of 48 funds) in the Corporate Debt Funds BBB Rated classification for the ten-year period ended December 31, 2007. The Calvert Income Fund Class I Shares (CINCX) received the Lipper Award (out of 100 funds) in the Corporate Debt Funds BBB Rated classification for the five-year period ended December 31, 2007. The Calvert Long-Term Income Fund Class A Shares (CLDAX) received the Lipper Award (out of 117 funds) in the Corporate Debt Funds BBB Rated classification for three-year period ended December 31, 2007.
Lipper Fund Awards are granted annually to the funds in each Lipper classification that achieve the highest score for Consistent Return, a measure of funds' historical risk-adjusted returns, measured in local currency, relative to peers. Funds registered for sale in a given country are selected, and then scores for Consistent Return are computed for all Lipper global classifications with five or more distinct portfolios. The scores are subject to change every month and are calculated for the following periods: three-year, five-year, ten-year, and overall. The highest 20% of funds in each classification are named Lipper Leaders for Consistent Return. The highest Lipper Leader for Consistent Return within each eligible classification determines the fund classification winner over three, five, or ten years. Source: Lipper, Inc.
Calvert mutual funds are underwritten and distributed by Calvert Distributors Inc., member FINRA, a subsidiary of Calvert Group, Ltd. 1-800-368-2748
