Calamos Asset Management had $42.6 billion in assets under management as of March 31, down 4.7% from the previous quarter and 10.5% from the previous year. Separate account assets totaled $10.5 billion, down 7.9% for the quarter and 13.9% for the year, while mutual fund assets totaled $32.1 billion, down 3.6% for the quarter and 9.3% for the year.
Maryellen Thielen, a spokeswoman, declined to explain the drop in total assets, citing company disclosure policy. According to the firms 2006 annual report, $660 million in private client assets were reclassified and included within mutual fund and separate account totals; asset figures from previous time periods reflect this change. In the second half of 2006, Calamos had net redemptions of $1.7 billion for mutual funds and $1 billion for separate accounts, the report said.