Company: CHY
Filing Date: 2025-12-29
Form Type: N-CSR
Source: 0001104659-25-124662
Chunk: 185

Company: CALAMOS CONVERTIBLE & HIGH INCOME FUND
Filing Date: 2025-12-29
Form: N-CSR
Chunk 185
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 Fund. The Board considered factors that led to more expenses for registered funds including but not limited to: (i) capital expenditures to establish a fund, (ii) length of time to reach critical mass, and the related expenses, (iii) higher servicing costs of intermediaries and shareholders, (iv) higher redemption rates of assets under management, (v) entrepreneurial risk assumed by the Adviser and (vi) greater exposure to "make whole" errors. The Board also considered the Adviser's costs in serving as each Fund's investment adviser and manager, including but not limited to costs associated with technology, infrastructure and compliance necessary to manage each Fund. The Board reviewed the Adviser's methodology for allocating costs among the Adviser's lines of business. The Board also considered information regarding the structure of the Adviser's compensation program for portfolio managers, analysts and certain other employees, and the relationship of such compensation to the attraction and retention of quality personnel. Finally, the Board reviewed information on the profitability of the Adviser in serving as the Funds' investment adviser and of the Adviser and its affiliates in all of their relationships with the Funds, as well as an explanation of the methodology utilized in allocating various expenses among the Funds and the Adviser's other business units. Data was provided to the Board with respect to profitability, both on a pre- and post-marketing cost basis. The Board reviewed the financial statements of the Adviser's parent company and discussed its corporate structure. Further detail considered by the Board regarding the management fee rate and total expense ratio of each Fund is set forth below: CHY.The Board considered that the Fund's total expense ratio was equal to the Expense Group median and that its management fee rate was higher than the Expense Group median. The Board reviewed the Fund's expenses in light of its performance record. www.calamos.com
251 Trustee Approval of Management Agreement (Unaudited) CHI.The Board considered that the Fund's total expense ratio was equal to the Expense Group median and that its management fee rate was higher than the Expense Group median. The Board reviewed the Fund's expenses in light of its performance record. CCD.The Board considered that the Fund's total expense ratio and management fee rate are higher than the respective Expense Group medians. The Board also considered that the Fund's total expense ratio was only three basis points higher than the Expense Group median. The Board reviewed the Fund's expenses in light of longer-term performance record. CHW.The Board considered that the Fund's management fee rate and total expense ratio are higher than