CHY

Calamos Convertible and High Income Fund is a diversified, closed-end management investment company focused on generating current income and capital appreciation through convertible securities and high-yield debt instruments. The fund invests primarily in convertible bonds, which combine characteristics of debt and equity, offering income plus participation in underlying stock appreciation. CHY also allocates to high-income fixed income securities including corporate bonds rated below investment grade. The fund's strategy leverages Calamos Investments' specialized expertise in convertible security analysis and selection. As a closed-end fund, CHY trades on exchanges with a fixed share count, potentially at premiums or discounts to its net asset value. The fund may use leverage to enhance income generation and total returns. Performance depends on credit markets, interest rate movements, equity market conditions, and the manager's ability to identify attractively valued convertible and high-yield opportunities.