Calamos Asset Management, a US long-only and hedge fund manager, has lost $3.4bn (â¬2.14bn) of its assets following a "very difficult period" of trading, which saw an investment bank last month downgrade its rating.
Chief executive office John Calamos said the US asset manager now managed $41.2bn, down from $44.6bn at the end of May. Its investors have now withdrawn $542m in the first half of 2008.
