Advent Capital Management
LISLE, Ill.--(BUSINESS WIRE)-- Advent Claymore Convertible Securities and Income Fund (NYSE: AVK), a diversified closed-end management investment company, has declared its monthly dividend of $0.1718 per share (the same amount per share as the previous monthly distribution paid in September). This represents an annualized distribution rate of 12.91% based upon the last closing market price of $15.97 as of September 30, 2008. Since the Fund's inception on April 29, 2003 through September 30, 2008 the Fund generated an average annual total return, including reinvestment of dividends, of 3.94% based on net asset value ("NAV") and 1.25% based on the Fund's market price. The Fund's one-year total return, including reinvestment of dividends, as of September 30, 2008, was -28.40% based on NAV and -30.91% based on market price. The Fund's five-year total return, including reinvestment of dividends, as of September 30, 2008, was 2.77% based on NAV and 1.68% based on market price. Past performance does not guarantee ...
LISLE, Ill.--(BUSINESS WIRE)-- Advent/Claymore Global Convertible Securities & Income Fund (NYSE: AGC), a diversified closed-end management investment company, has declared its monthly dividend of $0.1458 per share. This represents an annualized distribution rate of 14.90% based upon the last closing market price of $11.74 as of August 29, 2008. Since the Fund's inception on May 29, 2007 through August 31, 2008 the Fund generated an average annual total return, including reinvestment of dividends, of -16.76% based on net asset value ("NAV") and -27.45% based on market price. The Fund's one year total return, including reinvestment of dividends, as of August 31, 2008, was -14.79% based on NAV and -21.53% based on market price. Past performance does not guarantee future results. The Fund's investment objective is to provide total return, through a combination of capital appreciation and current income. Under normal market conditions, the Fund will invest at ...
LISLE, Ill.--(BUSINESS WIRE)-- Advent Claymore Convertible Securities and Income Fund (NYSE: AVK), a diversified closed-end management investment company, has declared its monthly dividend of $0.1718 per share. This represents an annualized distribution rate of 10.53% based upon the last closing market price of $19.58 as of August 29, 2008. Since the Fund's inception on April 29, 2003 through August 31, 2008 the Fund generated an average annual total return, including reinvestment of dividends, of 7.77% based on net asset value ("NAV") and 4.99% based on market price. The Fund's one year total return, including reinvestment of dividends, as of August 31, 2008, was -9.13% based on NAV and -13.11% based on market price. The Fund's five year total return, including reinvestment of dividends, as of August 31, 2008, was 7.05% based on NAV and 5.93 ...
LISLE, Ill.--(BUSINESS WIRE)-- Advent/Claymore Global Convertible Securities & Income Fund (NYSE: AGC) (the "Fund") announced today that the Board of Trustees of the Fund has approved a change to one of the Fund's non-fundamental investment policies. Specifically, the change allows the portfolio management team at the Fund's investment manager, Advent Capital Management, LLC, the flexibility to invest without limit in convertible securities of any credit quality. This modification was designed to expand the portfolio management flexibility of the Fund and may provide an opportunity to enhance shareholder returns through the investment manager's expanded investment capabilities and reduce risks during certain market environments. Effective October 7, 2008, the Fund may invest in securities of any credit quality, including securities that are of below investment grade quality without restrictions on maintaining a minimum weighted average portfolio rating of investment grade with respect to the portion of the Fund's managed assets invested in convertible securities. Securities of below investment grade quality are ...
LISLE, Ill.--(BUSINESS WIRE)-- Advent Claymore Convertible Securities and Income Fund (NYSE: AVK), a diversified closed-end management investment company, has declared its monthly dividend of $0.1718 per share. This represents an annualized distribution rate of 10.31% based upon the closing market price of $19.99 on July 31, 2008. Since the Fund's inception on April 29, 2003 through July 31, 2008 the Fund generated an average annual total return, including reinvestment of dividends, of 7.93% based on net asset value ("NAV") and 5.32% based on market price. The Fund's one year total return, including reinvestment of dividends, as of July 31, 2008, was -9.68% based on NAV and -11.89% based on market price. The Fund's five year total return, including reinvestment of dividends, as of July 31, 2008, was 7.67% based on NAV and 6.65 ...
