AGC Declares Monthly Dividend
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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 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 September 2008 dividend will be paid on September 30, 2008 to
shareholders of record as of September 15, 2008 with an ex-dividend
date of September 11, 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 $18.4
billion in assets, as of June 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/CEFs.
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 and Illiquidity
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.
Member FINRA/SIPC (9/08)
NOT FDIC-INSURED - NOT BANK-GUARANTEED - MAY LOSE VALUE
Advent Capital Management, LLC
Press Inquiries:
Maggie Lahey
212-482-1600
mlahey@adventcap.com
or
Claymore Securities, Inc.
Analyst Inquiries:
William T. Korver
630-505-3700
wkorver@claymore.com
Copyright Business Wire 2008
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