<SEC-DOCUMENT>0001387131-18-002774.txt : 20180824
<SEC-HEADER>0001387131-18-002774.hdr.sgml : 20180824
<ACCEPTANCE-DATETIME>20180619150712
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001387131-18-002774
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20180619

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CALAMOS GLOBAL TOTAL RETURN FUND
		CENTRAL INDEX KEY:			0001285650
		IRS NUMBER:				203377281
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
		BUSINESS PHONE:		6302451046

	MAIL ADDRESS:	
		STREET 1:		2020 CALAMOS COURT
		STREET 2:		C/O CALAMOS ADVISORS LLC
		CITY:			NAPERVILLE
		STATE:			IL
		ZIP:			60563
</SEC-HEADER>
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<TYPE>CORRESP
<SEQUENCE>1
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

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    <TD nowrap STYLE="width:2%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><IMG SRC="logo.jpg" ALT="Logo" STYLE="height: 79px; width: 52px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><P STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">ROPES
        &amp; GRAY LLP<BR> 191 NORTH WACKER DRIVE<BR>
        32nd FLOOR<BR>
        CHICAGO, ILLINOIS 60606-4302<BR> WWW.ROPESGRAY.COM</FONT></P></TD></TR>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">June 19, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">Ms. Lisa N. Larkin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">100 F Street, NE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-weight: normal">Washington,
DC 20549-4720</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in"><FONT STYLE="font-weight: normal">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-weight: normal">Re:</FONT></TD><TD><FONT STYLE="font-weight: normal">Calamos Global Total Return (File Nos. 333-224205, 811-21547) (the &#8220;<U>Registrant</U>&#8221;
or the &#8220;<U>Fund</U>&#8221;)</FONT></TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Dear Ms. Larkin:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This letter is in response to the comment of
the staff (the &ldquo;<U>Staff</U>&rdquo;) of the Securities and Exchange Commission (the &ldquo;<U>Commission</U>&rdquo;) that
you provided by telephone on June 14, 2018, with respect to the Registrant&rsquo;s registration statement on Form N-2 filed with
the Commission pursuant to the Securities Act of 1933, as amended (the &ldquo;<U>Securities Act</U>&rdquo;), and the Investment
Company Act of 1940, as amended (&ldquo;1940 Act&rdquo;), on April 9, 2018 (the &ldquo;<U>Registration Statement</U>&rdquo;). We
have, for the convenience of the Staff, repeated below the comment followed by the Fund&rsquo;s response.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We respectfully submit this response letter
on behalf of the Registrant. We believe that the disclosure changes discussed in this letter resolve the matter raised. The Registrant
is filing this response in advance of filing of Pre-Effective Amendment No. 1 to the Registration Statement. Capitalized terms
not otherwise defined herein have the meanings ascribed to them in the Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B><U>PROSPECTUS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify"><U>Comment</U>. The Staff notes the following disclosure on page six relating to &ldquo;Foreign
Securities&rdquo;:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Under normal circumstances, the Fund
will invest at least 30% of its managed assets in securities of foreign issuers; however, the Fund anticipates that ordinarily
Calamos&rsquo; investment process will result in the Fund investing at least 40% of its managed assets in securities of foreign
issuers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">In light of the use of the term &ldquo;global&rdquo;
in the Fund&rsquo;s name, please modify this policy to state that the Fund will normally invest at least 40% of its managed assets
in securities of foreign issuers. Please make this change in all applicable locations.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><B><U>Response</U></B>. The requested
change has been made. In response to the Staff&rsquo;s comment, the Registrant has modified the policy, in all applicable locations,
as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">Under normal circumstances, the Fund
will invest at least <STRIKE>30</STRIKE> <U>40</U>% of its managed assets in securities of foreign issuers<U>.</U><STRIKE>; however,
the Fund anticipates that ordinarily Calamos&rsquo; investment process will result in the Fund investing at least 40% of its managed
assets in securities of foreign issuers.</STRIKE></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in">* * * * *</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We hope that the foregoing response adequately
addresses your comment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Should you have any further questions or comments,
please do not hesitate to contact me at (312) 845-1376.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR>
    <TD>Very truly yours,</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 29%; border-bottom: Black thin solid">/s/ Matthew A. Brunmeier</TD>
    <TD STYLE="width: 71%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Matthew A. Brunmeier, Esq.<BR></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 0pt; margin-top: 0pt; margin-bottom: 6pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">MB/cc:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 88%; padding-right: 5.4pt; ">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">John P. Calamos, Sr., Chairman, Trustee and President, Calamos Global
        Total Return Fund</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">J. Christopher Jackson, Esq., Vice President and Secretary, Calamos
        Global Total Return Fund</P></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; "><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Jeremy C. Smith, Esq., Ropes &amp; Gray LLP</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Paulita A. Pike, Esq., Ropes &amp; Gray LLP</P></TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>




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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">&nbsp;</P>
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