|
AGC Fund Overview
|
|
(AGC) Advent/Claymore Global Convertible Securities & Income Fund
|
Common Shares
Daily Data
|
|
|
|
|
|
| 52-week Average Premium/Discount |
|
|
| Current Distribution Rate1 |
|
|
| Monthly Dividend Per Share2 |
|
|
|
|
|
|
|
|
| 52 Week High/Low Share Price3 |
|
|
|
|
| Intraday Trading Information |
|
|
|
|
Weekly Data
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Percent Leveraged From Preferred Shares |
|
|
|
|
Semi-Annual Data
|
|
|
|
|
|
| Expense Ratio (Common Shares)5 |
|
|
| Expense Ratio (Total Fund)5 |
|
|
|
|
|
|
Inception Information
Common Shares4
|
|
|
|
|
|
| The Wall Street Journal Listing |
|
|
|
|
|
|
|
|
|
|
Auction Market Preferred Shares
|
|
|
|
| 1940 Act Asset Coverage Ratio7 |
|
|
|
|
|
|
|
|
|
|
1 Latest declared monthly dividend per share annualized and divided by the current share price. To the extent any portion of the current distribution is estimated to be sourced from something other than income, such as return of capital, the source would be disclosed on a Section 19a-1 letter located under the “Fund News” section of the “News & Literature” section of the Fund’s website. The distribution rate may include net investment income, capital gains and/or return of capital. The distribution rate alone is not indicative of Fund performance.
2 Dividend per share is subject to change on the ex-dividend date. The distribution amount may include net investment income, capital gains and/or return of capital. The distribution amount alone is not indicative of Fund performance.
3 Figures are based on market close.
4 Based on the prospectus information.
|
5 Expense ratio is annualized
6 Not Annualized
7 The Fund is required to maintain, with respect to the AMPS, as of the last business day of each month in which any AMPS are outstanding, asset coverage of at least 200% with respect to senior securities which are beneficial interests in the Fund.
|
|
|
|
AGC
Investment Objective |
Advent/Claymore Global Convertible Securities & Income Fund (the “Fund”) is a diversified, closed-end management investment company. The Fund’s investment objective is to provide total
return, through a combination of capital appreciation and current income. There can be no assurance that the Fund will
achieve its investment objective.
Under normal market conditions, the Fund will invest at least 80% of its
Managed Assets in a diversified portfolio of convertible securities and non-convertible
income-producing securities, each of U.S. and non-U.S. issuers. Within this general investment policy, the Fund will
follow, under normal market conditions, the following investment parameters:
• the Fund will invest at least 50% of its Managed Assets in convertible securities;
• the Fund may invest up to 40% of its Managed Assets in non-convertible income-producing securities; and
• the Fund will invest at least 50% of its Managed Assets in foreign securities.
The portion of the Fund’s Managed Assets invested in convertible securities, non-convertible income-producing
securities and foreign securities will vary from time to time consistent with the Fund’s investment objective, changes in equity
prices and changes in interest rates and other economic and market factors. The Fund may invest in securities of any credit
quality, including securities that are of below investment grade quality; however, under normal market conditions, the Fund
will maintain 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 regarded as having
speculative characteristics with respect to the issuer’s capacity to pay interest and repay principal and are commonly referred
to as “junk bonds” or “high yield securities.” In furtherance of the Fund’s investment objective, the Fund intends to engage in
an option strategy of writing (selling) covered call options on up to 25% of the securities held in the Fund’s portfolio, to seek
to generate current gains from option premiums as a means to enhance distributions payable to the holders of common shares.
|
|
|
AGC Portfolio
Overview |
(as of
7/31/2008)
|
|
|
|
|
| Convertible Securities |
68.48%
|
|
|
| Equities |
10.87%
|
|
|
| High Yield Securities |
10.50%
|
|
|
| Bank Loans |
10.15%
|
|
|
|
(as of
7/31/2008)
|
|
|
|
|
| International |
56.47%
|
|
|
| U.S. |
43.53%
|
|
|
|
(as of
7/31/2008)
|
|
|
|
|
| Investment Grade |
50.93%
|
|
|
| Non Investment Grade |
49.07%
|
|
|
|
(as of
7/31/2008)
|
|
|
|
|
| AA |
14.85%
|
|
|
| A |
16.17%
|
|
|
| BBB |
19.91%
|
|
|
| BB |
19.38%
|
|
|
| B |
22.45%
|
|
|
| Below B |
7.24%
|
|
The above ratings are the lesser rating of S&P and Moody's. If neither S&P or Moody's provide ratings for particular securities, then an internal implied / estimated rating is applied to the securities by the advisor.
Bonds with a credit rating of BB or lower are considered below investment grade.
"Non-Rated" are securities that do not have a rating from S&P, Moody's or Fitch.
|
|
(as of
7/31/2008)
|
|
|
|
|
| Avg Length of Contract |
23 days
|
|
|
| Type of Options |
Stocks
|
|
|
| Securities with Options Written Against Them |
35.00%
|
|
|
|
(as of
7/31/2008)
|
|
|
|
|
| Financial |
15.62%
|
|
|
| Energy |
14.49%
|
|
|
| Healthcare |
13.65%
|
|
|
| Consumer Discretionary |
13.42%
|
|
|
| Industrials |
12.75%
|
|
|
| Materials |
12.44%
|
|
|
| Technology |
7.21%
|
|
|
| Telecommuncations |
4.84%
|
|
|
| Consumer Staples |
3.62%
|
|
|
| Media |
1.37%
|
|
|
| Transportation |
0.59%
|
|
|
|
(as of
7/31/2008)
|
|
|
|
|
| ABB Ltd |
2.95%
|
|
|
| Hengan International |
2.79%
|
|
|
| Mylan |
2.51%
|
|
|
| Vallourec |
2.51%
|
|
|
| Cia Vale Do Rio Doce |
2.44%
|
|
|
| Banco Bradesco |
2.39%
|
|
|
| Teva Pharmaceutical |
2.34%
|
|
|
| Bayer Cap |
2.30%
|
|
|
| Lafarge |
2.24%
|
|
|
| General Motors |
2.18%
|
|
|
|
All portfolio data will change as the Fund's holdings change (which can be on a daily basis).
|
|