Tough times are proving a boon to John Calamos Sr. and his Calamos Funds. The Wall Street Journal reports that assets in Calamos Convertible Fund Class A have more than tripled to $1.73 billion since last October when Calamos reopened the fund to new investors.

The fund is benefiting from strong relative performance -- it is up 15.1 percent compared to 9.83 percent for Merrill's convertible index since it reopened. The fund has gained more than 17 percent for the year. 

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