CALAMOS CONVERTIBLE & HIGH INCOME FUND

Calamos Convertible and High Income Fund is a closed-end fund designed to achieve total return by combining capital appreciation and current income. The fund invests primarily in a diversified mix of convertible securities and high-yield (below investment grade) corporate bonds. This blend allows the fund to participate in the potential upside of equities through its convertible holdings, while also generating consistent income from high-yield debt instruments. Notably, the portfolio aims to be less susceptible to interest rate rises compared to traditional fixed-income strategies, thanks to its focus on lower-duration and more flexible asset classes. The fund utilizes active management to dynamically allocate between different security types, optimizing for risk and reward across various market cycles. By employing leverage, the fund seeks to enhance returns, distributing income to investors on a monthly basis at levels considered sustainable by the management team. As an alternative to funds focused solely on investment-grade debt, the Calamos Convertible and High Income Fund provides market participants with diversified exposure to both equity-sensitive and income-generating securities, making it a unique component in broader asset allocation strategies.