AVK and AGC DECLARE DIVIDENDS AVK DECLARES MONTHLY DIVIDEND
Lisle, Illinois – October 31, 2008 – (NYSE: AVK) Advent Claymore Convertible Securities and Income Fund, a diversified closed-end management investment company, has declared its November monthly dividend of $0.1718 per share. This represents an annualized distribution rate of 16.64% based upon the last closing market price of $12.39, as of October 30, 2008. Since the Fund’s inception on April 29, 2003 through October 30, 2008 the Fund generated an average annual total return, including reinvestment of dividends, of -3.17% based on net asset value (“NAV”) and -3.31% based on market price. The Fund’s one-year total return, including reinvestment of dividends, as of October 30, 2008, was -52.06% based on NAV and -45.66% based on market price. The Fund’s five-year total return, including reinvestment of dividends, as of October 30, 2008, was -5.69% based on NAV and -4.13% 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. The Fund pursues its objective, under normal market conditions, by investing at least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities. The November 2008 dividend will be paid on November 28, 2008 to shareholders of record as of November 14, 2008 with an ex-dividend date of November 12, 2008. If it is determined that a notification is required, pursuant to Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to the Fund’s website after the close of business three business days prior to the payable date. If a distribution rate is largely comprised of sources other than income, it may not be reflective of the Fund’s performance. Advent Capital Management, LLC serves as the Fund’s Investment Adviser. Claymore Securities, Inc. serves as the Fund’s Servicing Agent.
An investment in the Fund is subject to certain risks and other considerations. Such risks and considerations include, but are not limited to: Investment and Market Risk; Convertible and Synthetic Convertible Securities Risk; Lower Grade Securities Risk; Foreign Securities Risks; Derivatives Risk; Interest Rate Risk; Leverage Risk; Management Risk; Anti-Takeover Provisions; Strategic Transactions Risk; Market Disruption Risk; Anti-Takeover Provision Risk, Illiquidity Risk and AMPS Risk.
AGC DECLARES MONTHLY DIVIDEND
Lisle, Illinois – October 31, 2008 – (NYSE: AGC) Advent/Claymore Global Convertible Securities & Income Fund, a diversified closed-end management investment company, has declared its November monthly dividend of $0.095 per share. This represents an annualized distribution rate of 20.07% based upon the last closing market price of $5.68 as of October 30, 2008.
Since the Fund’s inception on May 29, 2007 through October 30, 2008 the Fund generated an average annual total return, including reinvestment of dividends, of -47.63% based on net asset value (“NAV”) and -54.20% based on market price. The Fund’s one-year total return, including reinvestment of dividends, as of October 30, 2008, was -60.97% based on NAV and -60.72% 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 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, in order to attempt to achieve this objective.
The November 2008 dividend will be paid on November 28, 2008 to shareholders of record as of November 14, 2008 with an ex-dividend date of November 12, 2008. If it is determined that a notification is required, pursuant to
Section 19(a) of the Investment Company Act of 1940, as amended, such notice will be posted to the Fund’s website after the close of business three business days prior to the payable date. If a distribution rate is largely comprised of sources other than income, it may not be reflective of the Fund’s performance. Advent Capital Management, LLC serves as the Fund’s Investment Manager. Based in New York, New York, Advent is a credit-oriented firm specializing in the management of convertible, high-yield and equity securities across three lines of business – long-only strategies, hedge funds and closed-end mutual funds. The firm
manages assets for several FORTUNE 500 companies, foundations, endowments, public pension plans, insurance companies and two other closed-end funds, the Advent Claymore Convertible Securities and Income Fund (NYSE: AVK) and the Advent/Claymore Enhanced Growth & Income Fund (NYSE: LCM). Claymore Advisors, LLC (an affiliate of Claymore Securities, Inc.) serves as the Fund’s Investment Adviser. Based in Lisle, Illinois, Claymore Securities, Inc. is a privately-held financial services company offering unique investment solutions for financial advisors and their valued clients. Claymore entities have provided supervision, management, servicing and/or distribution on approximately $13.8 billion in assets, as of September 30, 2008. Claymore currently offers closed-end funds, unit investment trusts and exchange-traded funds. Registered investment products are sold by prospectus only and investors should read the prospectus carefully before investing. Additional information on Claymore’s closed-end funds is available at www.claymore.com/CEF.
This information does not represent an offer to sell securities of the Fund and it is not soliciting an offer to buy securities of the Fund. There can be no assurance that the Fund will achieve its investment objectives. The net asset value of the Fund 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 the Fund is subject to certain risks and other considerations. Convertible securities generally offer lower interest or dividend yields than non-convertible securities of similar quality. Investments in non-U.S. issuers may involve unique risks compared to investing in securities of U.S. issuers and are more pronounced to the extent that the Fund invests a significant portion of its non-U.S. investments in one region or in the securities of emerging market issuers. In addition the Fund is also subject, but not limited, to: Investment and Market Risk; Convertible Securities Risk; Structured and Synthetic Convertible Securities Risk; Lower Grade Securities Risk; Equity Securities Risk; Preferred Securities Risk; Derivatives Risk; Interest Rate Risk; Leverage Risk; Anti-Takeover Provisions; Foreign Securities Risk; Foreign Currency Risk; Market Disruption Risk; Risk Associated with the Fund’s Covered Call Option Writing Strategy; Senior and Second Lien Secured Loan Risk, Illiquidity Risk and AMPS Risk.
Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Fund carefully before they invest. For this and more information, please contact a securities representative or Claymore Securities, Inc., 2455 Corporate West Drive, Lisle, Illinois 60532, 800-345-7999. Press Inquiries: Advent Capital Management, LLC Maggie Lahey 212-482-1600 Analyst Inquiries:
mlahey@adventcap.com
Member FINRA/SIPC (10/08)
Claymore Securities, Inc. William T. Korver 630-505-3700 wkorver@claymore.com
NOT FDIC-INSURED | NOT BANK-GUARANTEED | MAY LOSE VALUE