Jon A. Vacko Sr., CFA, serves as Senior Portfolio Manager and Co-Head of Research for the Calamos Dynamic Convertible and Income Fund, bringing over two decades of specialized experience in convertible securities and credit analysis. Vacko joined Calamos Advisors in 2000 and has been Co-Portfolio Manager and Co-Head of Research since August 2013, overseeing the firm's research capabilities and portfolio management processes. His extensive financial industry experience began in 1992 at the Federal Reserve Bank of Chicago as an Examiner, where he gained deep regulatory and supervisory experience in banking operations. He transitioned to Fitch Ratings in 1997 as a Senior Bank Credit Analyst, specializing in credit ratings for both investment-grade and non-investment-grade securities, providing crucial expertise in credit risk assessment. At Calamos since 2000, Vacko initially served as a Senior Sector Analyst specializing in equity, convertible bond, and high-yield portfolios before advancing to leadership roles. He held the position of Co-Head of Research and Investments from 2010 to 2013, demonstrating his progression within the organization and expanding responsibilities. Vacko earned a Bachelor of Business Administration in Finance and Accounting from the University of Wisconsin-Madison in 1992, providing a strong foundation in financial analysis and accounting principles. He further enhanced his credentials with a Master of Business Administration with a focus on Finance from the University of Chicago in 1999, one of the nation's premier business schools. His CFA designation reflects his commitment to professional excellence and adherence to the highest standards of investment management. Under his portfolio management leadership, the fund has maintained its focus on convertible securities while adapting to changing market conditions and investor needs.

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The fund seeks to provide total return through a combination of capital appreciation and current income by investing at least 80% of managed assets in convertible securities and income-producing securities. By investing at least 50% in convertibles, the fund seeks upside participation in equity markets with less downside exposure over a full market cycle. The investment approach leverages Calamos' expertise in convertible securities developed over more than four decades, applying option pricing theory to demonstrate the benefits of convertibles as part of an investment strategy. The fund invests in convertibles and high-yield fixed-income securities with the aim of generating total return through both capital appreciation and income generation. This strategy reflects a time-tested commitment to offering risk-adjusted returns through innovative approaches that emphasize risk management and capital preservation. The fund's capabilities are built on pioneering work in convertible securities that dates back to the challenging markets of the 1970s when founder John P. Calamos Sr. began using convertible securities to help clients build wealth and manage risk. The approach emphasizes using investment techniques to control risk more precisely than historically possible, leveraging the modern convertible bond market's development alongside the options market. The fund maintains a focus on innovation, risk management, and client focus that continues to define the organization today. The strategy seeks to capitalize on opportunities for active and selective managers given the market's increased attention to individual company fundamentals. The fund operates with the belief that convertible securities, when properly analyzed and valued, can provide superior risk-adjusted returns compared to traditional equity or fixed-income investments alone.

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