Fund Manager Calamos Files Plan to Go Public

Calamos Asset Management Inc., manager of one of America’s most popular mutual funds this year, on Monday filed to take itself public in an offering that could raise up to $100 million.

The family-run Naperville, Ill.-based firm plans to use part of the proceeds to develop its hedge fund unit, according to a filing with the Securities and Exchange Commission.

The filing said Calamos’ mutual funds, led by the flagship Calamos Growth, attracted a net $6.8 billion in the first half of 2004, lifting the firm’s assets under management to $32.3 billion.

The Calamos Growth fund gained 15.8% a year over the last five years, through July 30. In the same period the Standard & Poor’s 500 index lost 2.2% a year.

Founded in 1977 by John Calamos, Calamos Asset Management has seen assets more than triple in the last 30 months. The firm earned $57.1 million in the first half of 2004, compared with $67.3 million during all of 2003.

Revenue jumped to $139.5 million in the first half, from $162.4 million in all of 2003.

Besides mutual funds, Calamos manages portfolios for institutions and wealthy individuals.