Advent/Claymore Closed-End Funds Announce August 2018 Distributions
August 01 2018 - 4:15PM
Advent Claymore Convertible Securities and Income Fund (NYSE: AVK),
Advent Claymore Convertible Securities and Income Fund II (NYSE:
AGC), and Advent/Claymore Enhanced Growth & Income Fund (NYSE:
LCM), each a closed-end fund (together, the “Funds”) announced
today that the Funds have declared their distributions. The table
below summarizes the distribution schedule for each Fund.
The following dates apply to the
distributions:
Record Date
August 15, 2018
Ex-Dividend Date August 14,
2018
Payable Date
August 23, 2018
Distribution Schedule |
NYSE Ticker |
Closed-End Fund Name |
Distribution Per
Share |
Change from Previous Distribution |
Frequency |
AGC |
Advent Claymore Convertible Securities and Income Fund
II |
$ |
0.0471 |
|
Monthly |
AVK |
Advent Claymore Convertible Securities and Income
Fund |
$ |
0.11721 |
|
Monthly |
LCM |
Advent/Claymore Enhanced Growth & Income Fund |
$ |
0.211 |
|
Quarterly |
1 A portion of this distribution is estimated to be a return of
capital rather than income. Final determination of the character of
distributions will be made at year-end. The Section 19(a) notice
referenced below provides more information and can be found at
www.guggenheiminvestments.com.
As previously announced, shareholders of the Funds have approved
the merger of each of Advent Claymore Convertible Securities and
Income Fund II and Advent/Claymore Enhanced Growth & Income
Fund with and into Advent Claymore Convertible Securities and
Income Fund. Subject to the satisfaction of certain customary
closing conditions, the mergers are expected to be effective with
the open of the New York Stock Exchange on August 27, 2018.
Past performance is not indicative of future
performance. As of this announcement, the sources of each
fund distribution are estimates. Distributions may be paid from
sources of income other than ordinary income, such as short-term
capital gains, long-term capital gains or return of capital. Unless
otherwise noted, the distributions above are not anticipated to
include a return of capital. If a distribution consists of
something other than ordinary income, a Section 19(a) notice
detailing the anticipated source(s) of the distribution will be
made available. The Section 19(a) notice will be posted to a Fund’s
website and to the Depository Trust & Clearing Corporation so
that brokers can distribute such notices to Shareholders of the
Fund. Section 19(a) notices are provided for informational purposes
only and not for tax reporting purposes. The final determination of
the source and tax characteristics of all distributions in 2018
will be made after the end of the year. This information is not
legal or tax advice. Consult a professional regarding your specific
legal or tax matters.
About Advent Capital ManagementAdvent Capital
Management, LLC (“Advent”) is a registered investment advisor
dedicated to providing its clients with superior investment
performance. Advent invests primarily in convertible, high yield
and equity securities offered through long only, hedge-fund and
NYSE-listed closed-end fund products. Advent’s investment team
consists of seasoned professionals performing bottom-up fundamental
research. Since inception in 1995, Advent has grown into a $9.0
billion diversified investment management firm (as of March 31,
2018) with the ability to capture opportunities globally. Advent’s
growing client base includes some of the world’s largest public and
corporate pension plans, foundations, endowments, insurance
companies and high net worth individuals.
About Guggenheim InvestmentsGuggenheim
Investments is the global asset management and investment advisory
division of Guggenheim Partners, LLC (“Guggenheim”), with $208
billion* in assets under management across fixed income, equity,
and alternative strategies. We focus on the return and risk needs
of insurance companies, corporate and public pension funds,
sovereign wealth funds, endowments and foundations, consultants,
wealth managers, and high-net-worth investors. Our 300+ investment
professionals perform rigorous research to understand market trends
and identify undervalued opportunities in areas that are often
complex and underfollowed. This approach to investment management
has enabled us to deliver innovative strategies providing
diversification opportunities and attractive long-term results.
Guggenheim Investments includes Guggenheim Funds Investment
Advisors, LLC (“GFIA”) and Guggenheim Funds Distributors, LLC (the
servicing agent for AVK). GFIA serves as Investment Adviser for AGC
and LCM. Advent Capital Management, LLC serves as Investment
Adviser for AVK and Investment Manager for AGC and LCM and is not
affiliated with Guggenheim.
*Assets under management is as of 06.30.2018 and includes
leverage of $11.7bn. Guggenheim Investments represents the
following affiliated investment management businesses of Guggenheim
Partners, LLC: Guggenheim Partners Investment Management, LLC,
Security Investors, LLC, Guggenheim Funds Investment Advisors, LLC,
Guggenheim Funds Distributors, LLC, Guggenheim Real Estate, LLC, GS
GAMMA Advisors, LLC, Guggenheim Partners Europe Limited and
Guggenheim Partners India Management.
This information does not represent an offer to sell securities
of the Funds and it is not soliciting an offer to buy securities of
the Funds. There can be no assurance that the Funds will achieve
their investment objectives. Investments in the Funds involve
operating expenses and fees. The net asset value of the Funds will
fluctuate with the value of the underlying securities. It is
important to note that closed-end funds trade on their market
value, not net asset value, and closed-end funds often trade at a
discount to their net asset value. Past performance is not
indicative of future performance. An investment in closed-end funds
is subject to investment risk, including the possible loss of the
entire amount that you invest. Some general risks and
considerations associated with investing in a closed-end fund may
include: Investment and Market Risk; Lower Grade Securities Risk;
Equity Securities Risk; Foreign Securities Risk; Interest Rate
Risk; Illiquidity Risk; Derivative Risk; Management Risk;
Anti-Takeover Provisions; Market Disruption Risk and Leverage Risk.
See www.guggenheiminvestments.com/cef for a detailed discussion of
Fund-specific risks.
Investors should consider the investment objectives and
policies, risk considerations, charges and expenses of any
investment before they invest. For this and more information, visit
www.guggenheiminvestments.com or contact a securities
representative or Guggenheim Funds Distributors, LLC 227 West
Monroe Street, Chicago, IL 60606, 800-345-7999.
Analyst InquiriesWilliam T.
Korvercefs@guggenheiminvestments.com
NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE
VALUEMember FINRA/SIPC (08/18)
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