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AVK Fund Overview
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(AVK) Advent Claymore
Convertible Securities and Income Fund
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Common Shares
Daily Data
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| 52-week Average Premium/Discount |
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| Current Distribution Rate1 |
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| Monthly Dividend Per Share2 |
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| 52 Week High/Low Share Price3 |
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| Intraday Trading Information |
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Weekly Data
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| Percent Leveraged From Preferred Shares |
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Semi Annual Data
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| Shareholder Servicing Agent |
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| Expense Ratio (Common Shares)5 |
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| Expense Ratio (Total Fund)5 |
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Inception Information
Common Shares4
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| The Wall Street Journal Listing |
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Auction Market Preferred Shares
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| 1940 Act Asset Coverage Ratio7 |
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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.
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5 Expense ratio is annualized; Common Share Expense Ratio includes fee waiver of 0.29%, Total Fund Expense Ratio includes fee waiver of 0.20%
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.
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AVK
Investment Objective |
| 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 least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities. Under normal market conditions, the Fund will invest at least 60% of its managed assets in convertible securities and up to 40% of its managed assets in lower-grade, non-convertible income securities, although the portion of the Fund's assets invested in convertible securities and non-convertible income 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 expects to invest approximately 70% of its assets in lower-grade securities, however from time to time it is possible that all of the Fund’s assets may be invested in lower-grade securities.
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AVK Portfolio
Overview |
(as of
7/31/2008)
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| Convertible Securities |
83.78%
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| High Yield Securities |
14.44%
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| Other |
1.78%
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(as of
7/31/2008)
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| U.S. |
84.56%
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| International |
15.44%
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(as of
7/31/2008)
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| AA |
3.62%
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| A |
14.03%
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| BBB |
21.06%
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| BB |
29.34%
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| B |
22.75%
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| Below B |
9.20%
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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.
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(as of
7/31/2008)
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| Watson Pharmaceuticals |
2.74%
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| Transocean |
2.69%
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| NY Community Cap Trust V |
2.33%
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| NII Holdings |
2.28%
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| Teva Pharmaceuticals |
2.26%
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| Medtronic |
2.23%
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| Freeport-McMoran |
2.23%
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| Metlife |
2.10%
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| Mylan |
2.10%
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| Entergy Corp |
2.04%
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(as of
7/31/2008)
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| Healthcare |
21.50%
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| Financial |
21.21%
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| Technology |
11.00%
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| Energy |
9.14%
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| Consumer Discretionary |
8.04%
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| Telecommuncations |
7.96%
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| Materials |
6.90%
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| Industrials |
5.69%
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| Utilities |
4.53%
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| Transportation |
2.25%
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| Media |
1.51%
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| Consumer Staples |
0.27%
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All portfolio data will change as the Fund's holdings change (which can be on a daily basis).
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