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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Advent/Claymore Enhanced Growth & Income Fund Advent/Claymore Enhanced Growth & Income Fund of Beneficial Interest (delisted) | NYSE:LCM | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.74 | 0.00 | 01:00:00 |
•
|
Daily, weekly and monthly data on share prices, net asset values, distributions, and more
|
•
|
Portfolio overviews and performance analyses
|
•
|
Announcements, press releases and special notices
|
•
|
Fund and adviser contact information
|
April 30, 2013
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 3
|
DEAR SHAREHOLDER continued
|
April 30, 2013
|
4 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
QUESTIONS & ANSWERS (Unaudited)
|
April 30, 2013
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 5
|
QUESTIONS & ANSWERS continued (Unaudited)
|
April 30, 2013
|
6 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
QUESTIONS & ANSWERS continued (Unaudited)
|
April 30, 2013
|
•
|
the aggregate initial margin and premiums required to establish its futures, options on futures and swaps did not exceed 5% of the liquidation value of the Fund’s portfolio, after taking into account unrealized profits and losses on such positions; or
|
|
•
|
the aggregate net notional value of its futures, options on futures and swaps did not exceed 100% of the liquidation value of the Fund’s portfolio, after taking into account unrealized profits and losses on such positions.
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 7
|
QUESTIONS & ANSWERS continued (Unaudited)
|
April 30, 2013
|
8 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
QUESTIONS & ANSWERS continued (Unaudited)
|
April 30, 2013
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 9
|
FUND SUMMARY (Unaudited)
|
April 30, 2013
|
Fund Statistics
|
||||
Share Price
|
$
|
10.01
|
||
Common Share Net Asset Value
|
$
|
11.21
|
||
Premium/Discount to NAV
|
-10.70%
|
|||
Net Assets ($000)
|
$
|
152,558
|
Total Returns
|
|||||||
(Inception 1/31/05)
|
Market
|
NAV
|
|||||
Six Month
|
10.57
|
%
|
10.00
|
%
|
|||
One Year
|
11.50
|
%
|
12.09
|
%
|
|||
Three Year - average annual
|
3.23
|
%
|
4.81
|
%
|
|||
Five Year - average annual
|
2.14
|
%
|
0.94
|
%
|
|||
Since Inception - average annual
|
1.16
|
%
|
2.21
|
%
|
|
%
of Long-Term
|
|||
Top Ten Industries
|
Investments
|
|||
Pharmaceuticals
|
8.7
|
%
|
||
Banks
|
6.1
|
%
|
||
Biotechnology
|
5.7
|
%
|
||
Telecommunications
|
5.6
|
%
|
||
Software
|
5.5
|
%
|
||
Mining
|
5.4
|
%
|
||
Health Care Products
|
5.1
|
%
|
||
Semiconductors
|
4.9
|
%
|
||
Oil & Gas
|
3.9
|
%
|
||
Insurance
|
3.7
|
%
|
|
%
of Long-Term
|
|||
Top Ten Issuers
|
Investments
|
|||
Alpha Natural Resources, Inc.
|
2.5
|
%
|
||
Hologic, Inc.
|
2.3
|
%
|
||
Ciena Corp.
|
2.3
|
%
|
||
Nuance Communications, Inc.
|
2.2
|
%
|
||
Illumina, Inc.
|
2.2
|
%
|
||
Glencore Finance Europe SA
|
2.1
|
%
|
||
ArcelorMittal
|
1.9
|
%
|
||
Micron Technology, Inc.
|
1.8
|
%
|
||
Sharp Corp.
|
1.7
|
%
|
||
EMC Corp.
|
1.6
|
%
|
10 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
PORTFOLIO OF INVESTMENTS (Unaudited)
|
April 30, 2013
|
Principal
|
Optional Call
|
|||||||||||||
Amount~
|
Description
|
Rating*
|
Coupon
|
Maturity
|
Provisions**
|
Value
|
||||||||
Long-Term Investments – 132.1%
|
||||||||||||||
Convertible Bonds – 92.5%
|
||||||||||||||
Apparel – 0.3%
|
||||||||||||||
458,000
|
Iconix Brand Group, Inc.(a)
|
NR
|
1.500%
|
03/15/2018
|
N/A
|
$
|
522,692
|
|||||||
Auto Manufacturers – 2.1%
|
||||||||||||||
1,263,000
|
Navistar International Corp.
|
CCC+
|
3.000%
|
10/15/2014
|
N/A
|
1,301,680
|
||||||||
EUR 1,400,000
|
Volkswagen International Finance NV (Netherlands)(a)
|
BBB
|
5.500%
|
11/09/2015
|
N/A
|
1,905,895
|
||||||||
3,207,575
|
||||||||||||||
Auto Parts & Equipment – 0.8%
|
||||||||||||||
1,297,000
|
Meritor, Inc.(l)
|
B–
|
4.000%
|
02/15/2027
|
02/15/19 @ 100
|
1,154,330
|
||||||||
Biotechnology – 7.2%
|
||||||||||||||
1,462,000
|
Cubist Pharmaceuticals, Inc.(l)
|
NR
|
2.500%
|
11/01/2017
|
N/A
|
2,476,262
|
||||||||
366,000
|
Dendreon Corp.
|
NR
|
2.875%
|
01/15/2016
|
N/A
|
291,427
|
||||||||
1,250,000
|
Gilead Sciences, Inc., Series C(l)
|
A–
|
1.000%
|
05/01/2014
|
N/A
|
2,807,031
|
||||||||
4,246,000
|
Illumina, Inc.(a) (l)
|
NR
|
0.250%
|
03/15/2016
|
N/A
|
4,421,148
|
||||||||
954,000
|
InterMune, Inc.
|
NR
|
2.500%
|
12/15/2017
|
N/A
|
1,013,029
|
||||||||
11,008,897
|
||||||||||||||
Coal – 3.5%
|
||||||||||||||
278,000
|
Alpha Appalachia Holdings, Inc.
|
B+
|
3.250%
|
08/01/2015
|
N/A
|
265,490
|
||||||||
5,319,000
|
Alpha Natural Resources, Inc.(l)
|
B–
|
2.375%
|
04/15/2015
|
N/A
|
5,013,157
|
||||||||
5,278,647
|
||||||||||||||
Computers – 4.7%
|
||||||||||||||
2,353,000
|
EMC Corp., Series B(l)
|
A
|
1.750%
|
12/01/2013
|
N/A
|
3,316,271
|
||||||||
1,621,000
|
NetApp, Inc.(l)
|
BBB+
|
1.750%
|
06/01/2013
|
N/A
|
1,768,916
|
||||||||
1,595,000
|
SanDisk Corp.(l)
|
BB
|
1.500%
|
08/15/2017
|
N/A
|
2,013,688
|
||||||||
7,098,875
|
||||||||||||||
Diversified Financial Services – 3.3%
|
||||||||||||||
1,600,000
|
HKEx International Ltd. (Hong Kong)
|
NR
|
0.500%
|
10/23/2017
|
N/A
|
1,763,600
|
||||||||
HKD 10,000,000
|
Tong Jie Ltd., Series 363 (British Virgin Islands)(b)
|
NR
|
0.000%
|
02/18/2018
|
N/A
|
1,315,620
|
||||||||
1,765,000
|
Walter Investment Management Corp.(l)
|
NR
|
4.500%
|
11/01/2019
|
N/A
|
1,877,519
|
||||||||
4,956,739
|
||||||||||||||
Electric – 0.3%
|
||||||||||||||
CNY 2,300,000
|
China Power International Development Ltd. (Hong Kong)
|
NR
|
2.250%
|
05/17/2016
|
N/A
|
483,970
|
||||||||
Electronics – 0.9%
|
||||||||||||||
1,000,000
|
TPK Holding Co. Ltd., Series REGS (Cayman Islands)(b)
|
NR
|
0.000%
|
10/01/2017
|
N/A
|
1,312,750
|
||||||||
Food – 0.6%
|
||||||||||||||
GBP 550,000
|
J Sainsbury PLC (United Kingdom)
|
NR
|
4.250%
|
07/16/2014
|
N/A
|
945,047
|
||||||||
Gas – 0.9%
|
||||||||||||||
1,250,000
|
ENN Energy Holdings Ltd. (Cayman Islands)(b)
|
NR
|
0.000%
|
02/26/2018
|
N/A
|
1,429,688
|
||||||||
Hand & Machine Tools – 1.6%
|
||||||||||||||
JPY 105,000,000
|
Disco Corp. (Japan)(b)
|
NR
|
0.000%
|
12/16/2014
|
N/A
|
1,275,177
|
||||||||
90,000,000
|
OSG Corp. (Japan)(b)
|
NR
|
0.000%
|
04/04/2022
|
N/A
|
1,115,645
|
||||||||
2,390,822
|
See notes to financial statements.
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 11
|
PORTFOLIO OF INVESTMENTS (Unaudited) continued
|
April 30, 2013
|
Principal
|
Optional Call
|
|||||||||||||
Amount~
|
Description
|
Rating*
|
Coupon
|
Maturity
|
Provisions**
|
Value
|
||||||||
Health Care Products – 6.0%
|
||||||||||||||
2,360,000
|
HeartWare International, Inc.(l)
|
NR
|
3.500%
|
12/15/2017
|
N/A
|
$
|
2,991,300
|
|||||||
646,000
|
Hologic, Inc.(c) (k)
|
B+
|
2.000%
|
12/15/2037
|
12/15/13 @ 100
|
649,637
|
||||||||
1,241,000
|
Hologic, Inc., Series 2010(c) (d) (l)
|
B+
|
2.000%
|
12/15/2037
|
12/15/16 @ 100
|
1,420,945
|
||||||||
2,596,000
|
Hologic, Inc., Series 2012(c) (e) (l)
|
B+
|
2.000%
|
03/01/2042
|
03/06/18 @ 100
|
2,652,788
|
||||||||
1,465,000
|
Volcano Corp.
|
NR
|
1.750%
|
12/01/2017
|
N/A
|
1,425,628
|
||||||||
9,140,298
|
||||||||||||||
Health Care Services – 2.5%
|
||||||||||||||
1,855,000
|
LifePoint Hospitals, Inc.(l)
|
B
|
3.500%
|
05/15/2014
|
N/A
|
2,019,631
|
||||||||
1,755,000
|
Molina Healthcare, Inc.(a)
|
NR
|
1.125%
|
01/15/2020
|
N/A
|
1,866,881
|
||||||||
3,886,512
|
||||||||||||||
Home Builders – 1.1%
|
||||||||||||||
400,000
|
Ryland Group, Inc.(l)
|
BB–
|
1.625%
|
05/15/2018
|
N/A
|
631,250
|
||||||||
1,000,000
|
Toll Brothers Finance Corp.(a) (l)
|
BB+
|
0.500%
|
09/15/2032
|
09/15/17 @ 100
|
1,056,875
|
||||||||
1,688,125
|
||||||||||||||
Home Furnishings – 2.2%
|
||||||||||||||
JPY 350,000,000
|
Sharp Corp., Series 20 (Japan)(b)
|
B
|
0.000%
|
09/30/2013
|
N/A
|
3,390,951
|
||||||||
Insurance – 1.9%
|
||||||||||||||
2,213,000
|
Radian Group, Inc.
|
CCC+
|
3.000%
|
11/15/2017
|
N/A
|
2,882,433
|
||||||||
Internet – 1.7%
|
||||||||||||||
800,000
|
BroadSoft, Inc.(l)
|
NR
|
1.500%
|
07/01/2018
|
N/A
|
816,000
|
||||||||
2,000,000
|
WebMD Health Corp.(l)
|
NR
|
2.500%
|
01/31/2018
|
N/A
|
1,842,500
|
||||||||
2,658,500
|
||||||||||||||
Lodging – 1.9%
|
||||||||||||||
2,548,000
|
MGM Resorts International(j) (l)
|
B+
|
4.250%
|
04/15/2015
|
N/A
|
2,826,688
|
||||||||
Machinery-Diversified – 2.4%
|
||||||||||||||
1,000,000
|
AGCO Corp.(l)
|
BB+
|
1.250%
|
12/15/2036
|
12/19/13 @ 100
|
1,328,750
|
||||||||
JPY 200,000,000
|
Ebara Corp., Series 6 (Japan)(b)
|
NR
|
0.000%
|
03/19/2018
|
N/A
|
2,407,350
|
||||||||
3,736,100
|
||||||||||||||
Media – 0.5%
|
||||||||||||||
GBP 250,000
|
ITV PLC (United Kingdom)
|
BBB–
|
4.000%
|
11/09/2016
|
N/A
|
715,555
|
||||||||
Metal Fabricate & Hardware – 0.6%
|
||||||||||||||
924,000
|
RTI International Metals, Inc.
|
NR
|
1.625%
|
10/15/2019
|
N/A
|
947,100
|
||||||||
Mining – 6.6%
|
||||||||||||||
3,700,000
|
Glencore Finance Europe SA (Luxembourg)
|
BBB
|
5.000%
|
12/31/2014
|
N/A
|
4,255,925
|
||||||||
2,207,000
|
Newmont Mining Corp., Series B(l)
|
BBB+
|
1.625%
|
07/15/2017
|
N/A
|
2,509,083
|
||||||||
3,318,000
|
Royal Gold, Inc.(l)
|
NR
|
2.875%
|
06/15/2019
|
N/A
|
3,272,378
|
||||||||
10,037,386
|
||||||||||||||
Oil & Gas – 3.0%
|
||||||||||||||
2,995,000
|
Chesapeake Energy Corp.(l)
|
BB–
|
2.250%
|
12/15/2038
|
12/15/18 @ 100
|
2,665,550
|
||||||||
645,000
|
Cobalt International Energy, Inc.
|
NR
|
2.625%
|
12/01/2019
|
N/A
|
721,997
|
||||||||
1,000,000
|
Premier Oil Finance Jersey Ltd., Series PMO (Jersey)
|
NR
|
2.500%
|
07/27/2018
|
N/A
|
1,199,000
|
||||||||
4,586,547
|
||||||||||||||
Oil & Gas Services – 3.3%
|
||||||||||||||
1,923,000
|
Hornbeck Offshore Services, Inc.(a) (l)
|
BB–
|
1.500%
|
09/01/2019
|
N/A
|
2,225,873
|
||||||||
EUR 2,160,000
|
Technip SA, Series TEC (France)
|
BBB+
|
0.500%
|
01/01/2016
|
N/A
|
2,803,718
|
||||||||
5,029,591
|
See notes to financial statements.
|
12 |
LCM |
ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
PORTFOLIO OF INVESTMENTS (Unaudited) continued
|
April 30, 2013
|
Principal
|
Optional Call
|
|||||||||||||
Amount~
|
Description
|
Rating*
|
Coupon
|
Maturity
|
Provisions**
|
Value
|
||||||||
Pharmaceuticals – 9.4%
|
||||||||||||||
2,396,000
|
Auxilium Pharmaceuticals, Inc.(l)
|
NR
|
1.500%
|
07/15/2018
|
N/A
|
$
|
2,246,250
|
|||||||
748,000
|
Endo Health Solutions, Inc.(l)
|
NR
|
1.750%
|
04/15/2015
|
N/A
|
1,010,735
|
||||||||
500,000
|
Isis Pharmaceuticals, Inc.(a)
|
NR
|
2.750%
|
10/01/2019
|
N/A
|
763,750
|
||||||||
1,100,000
|
Medivation, Inc.(l)
|
NR
|
2.625%
|
04/01/2017
|
N/A
|
1,441,687
|
||||||||
1,600,000
|
Salix Pharmaceuticals Ltd.
|
NR
|
1.500%
|
03/15/2019
|
N/A
|
1,740,000
|
||||||||
JPY 205,000,000
|
Sawai Pharmaceutical Co. Ltd. (Japan)(b)
|
NR
|
0.000%
|
09/17/2015
|
N/A
|
2,867,390
|
||||||||
1,925,000
|
Shire PLC, Series SHP (Jersey)
|
NR
|
2.750%
|
05/09/2014
|
N/A
|
2,110,763
|
||||||||
1,563,000
|
Theravance, Inc.(l)
|
NR
|
2.125%
|
01/15/2023
|
N/A
|
2,220,437
|
||||||||
14,401,012
|
||||||||||||||
Real Estate – 1.1%
|
||||||||||||||
1,540,000
|
Forest City Enterprises, Inc.(l)
|
B
|
4.250%
|
08/15/2018
|
N/A
|
1,745,012
|
||||||||
Real Estate Investment Trusts – 4.2%
|
||||||||||||||
923,000
|
Boston Properties, LP(a) (l)
|
A–
|
3.625%
|
02/15/2014
|
N/A
|
974,919
|
||||||||
1,500,000
|
Host Hotels & Resorts, LP(a) (l)
|
BBB–
|
2.500%
|
10/15/2029
|
10/20/15 @ 100
|
2,158,125
|
||||||||
731,000
|
Redwood Trust, Inc.(l)
|
NR
|
4.625%
|
04/15/2018
|
N/A
|
824,202
|
||||||||
2,000,000
|
SL Green Operating Partnership, LP(a) (l)
|
BB+
|
3.000%
|
10/15/2017
|
N/A
|
2,468,750
|
||||||||
6,425,996
|
||||||||||||||
Semiconductors – 6.6%
|
||||||||||||||
2,662,000
|
Advanced Micro Devices, Inc.(l)
|
B
|
6.000%
|
05/01/2015
|
N/A
|
2,701,930
|
||||||||
897,000
|
Intel Corp.(l)
|
A–
|
3.250%
|
08/01/2039
|
N/A
|
1,152,089
|
||||||||
922,000
|
LAM Research Corp.
|
BBB–
|
1.250%
|
05/15/2018
|
N/A
|
1,055,690
|
||||||||
1,816,000
|
Micron Technology, Inc., Series A(l)
|
NR
|
1.500%
|
08/01/2031
|
08/05/15 @ 100
|
2,058,890
|
||||||||
1,387,000
|
Micron Technology, Inc., Series E(a)
|
BB–
|
1.625%
|
02/15/2033
|
02/20/18 @ 100
|
1,576,845
|
||||||||
1,300,000
|
SK Hynix, Inc. (South Korea)
|
NR
|
2.650%
|
05/14/2015
|
N/A
|
1,472,900
|
||||||||
10,018,344
|
||||||||||||||
Software – 6.5%
|
||||||||||||||
2,539,000
|
Electronic Arts, Inc.(l)
|
NR
|
0.750%
|
07/15/2016
|
N/A
|
2,485,046
|
||||||||
2,907,000
|
Microsoft Corp.(a) (b)
|
AAA
|
0.000%
|
06/15/2013
|
N/A
|
2,979,675
|
||||||||
3,677,000
|
Nuance Communications, Inc.(l)
|
BB–
|
2.750%
|
08/15/2027
|
08/20/14 @ 100
|
4,460,661
|
||||||||
9,925,382
|
||||||||||||||
Telecommunications – 4.2%
|
||||||||||||||
1,500,000
|
Ciena Corp.(l)
|
B
|
0.875%
|
06/15/2017
|
N/A
|
1,376,250
|
||||||||
3,000,000
|
Ciena Corp.(a) (l)
|
B
|
3.750%
|
10/15/2018
|
N/A
|
3,346,875
|
||||||||
JPY 100,000,000
|
KDDI Corp. (Japan)(b)
|
NR
|
0.000%
|
12/14/2015
|
N/A
|
1,681,809
|
||||||||
6,404,934
|
||||||||||||||
Transportation – 0.6%
|
||||||||||||||
918,000
|
Ship Finance International Ltd. (Bermuda)
|
NR
|
3.250%
|
02/01/2018
|
N/A
|
911,689
|
||||||||
Total Convertible Bonds – 92.5%
|
||||||||||||||
(Cost $135,077,157)
|
141,148,187
|
|||||||||||||
Corporate Bonds – 13.1%
|
||||||||||||||
Auto Manufacturers – 0.9%
|
||||||||||||||
1,263,000
|
Navistar International Corp.
|
CCC+
|
8.250%
|
11/01/2021
|
11/01/14 @ 104
|
1,321,414
|
||||||||
Auto Parts & Equipment – 1.2%
|
||||||||||||||
1,667,000
|
Meritor, Inc.(l)
|
B–
|
8.125%
|
09/15/2015
|
N/A
|
1,808,695
|
||||||||
Banks – 1.7%
|
||||||||||||||
2,294,000
|
CIT Group, Inc.(a) (l)
|
BB–
|
5.500%
|
02/15/2019
|
N/A
|
2,597,955
|
See notes to financial statements.
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 13
|
PORTFOLIO OF INVESTMENTS (Unaudited) continued
|
April 30, 2013
|
Principal
|
Optional Call
|
|||||||||||||
Amount~
|
Description
|
Rating*
|
Coupon
|
Maturity
|
Provisions**
|
Value
|
||||||||
Electronics – 0.6%
|
||||||||||||||
918,000
|
Viasystems, Inc.(a) (l)
|
BB–
|
7.875%
|
05/01/2019
|
05/01/15 @ 106
|
$
|
984,555
|
|||||||
Household Products & Housewares – 2.0%
|
||||||||||||||
2,815,000
|
Reynolds Group Issuer, Inc.
|
CCC+
|
8.500%
|
05/15/2018
|
05/15/14 @ 104
|
3,012,050
|
||||||||
Lodging – 1.0%
|
||||||||||||||
1,000,000
|
Inn of the Mountain Gods Resort & Casino(a) (m)
|
NR
|
1.250%
|
11/30/2020
|
10/01/13 @ 100
|
935,000
|
||||||||
500,000
|
MTR Gaming Group, Inc.(h)
|
B–
|
11.500%
|
08/01/2019
|
08/01/15 @ 106
|
530,000
|
||||||||
1,465,000
|
||||||||||||||
Media – 0.7%
|
||||||||||||||
921,000
|
Media General, Inc.
|
B–
|
11.750%
|
02/15/2017
|
02/15/14 @ 106
|
1,045,335
|
||||||||
Mining – 0.6%
|
||||||||||||||
921,000
|
FMG Resources August 2006 Pty Ltd. (Australia)(a) (l)
|
B+
|
6.875%
|
02/01/2018
|
02/01/14 @ 105
|
984,319
|
||||||||
Oil & Gas – 2.2%
|
||||||||||||||
1,200,000
|
Alta Mesa Holdings, LP / Alta Mesa Finance Services Corp.(l)
|
B
|
9.625%
|
10/15/2018
|
10/15/14 @ 105
|
1,296,000
|
||||||||
1,991,000
|
PetroBakken Energy Ltd. (Canada)(a)
|
CCC+
|
8.625%
|
02/01/2020
|
02/01/16 @ 104
|
2,060,685
|
||||||||
3,356,685
|
||||||||||||||
Software – 0.7%
|
||||||||||||||
1,065,000
|
First Data Corp.(a) (l)
|
B–
|
8.250%
|
01/15/2021
|
01/15/16 @ 104
|
1,136,887
|
||||||||
Telecommunications – 1.5%
|
||||||||||||||
1,844,000
|
Sprint Nextel Corp.(a)
|
BB–
|
9.000%
|
11/15/2018
|
N/A
|
2,272,730
|
||||||||
Total Corporate Bonds – 13.1%
|
||||||||||||||
(Cost $19,278,107)
|
19,985,625
|
|||||||||||||
Term Loans – 0.7%(g)
|
||||||||||||||
Telecommunications – 0.7%
|
||||||||||||||
1,000,000
|
Sorenson Communication, Inc.
|
B2
|
9.500%
|
10/31/2014
|
N/A
|
1,018,438
|
||||||||
Total Term Loans – 0.7%
|
||||||||||||||
(Cost $1,003,287)
|
1,018,438
|
|||||||||||||
Number of
|
||||||||||||||
Shares
|
Description
|
Rating *
|
Coupon
|
Maturity
|
Value
|
|||||||||
Convertible Preferred Stocks – 9.1%
|
||||||||||||||
Auto Manufacturers – 1.7%
|
||||||||||||||
55,996
|
General Motors Co., Series B(l)
|
NR
|
4.750%
|
12/01/2013
|
$
|
2,602,694
|
||||||||
Auto Parts & Equipment – 0.8%
|
||||||||||||||
27,450
|
Goodyear Tire & Rubber Co.
|
NR
|
5.875%
|
04/01/2014
|
1,196,271
|
|||||||||
Banks – 2.4%
|
||||||||||||||
2,000
|
Bank of America Corp., Series L(f) (l)
|
BB+
|
7.250%
|
–
|
2,489,360
|
|||||||||
50,000
|
Synovus Financial Corp., Series tMED
|
NR
|
8.250%
|
05/15/2013
|
1,238,500
|
|||||||||
3,727,860
|
||||||||||||||
Insurance – 1.1%
|
||||||||||||||
31,823
|
MetLife, Inc.(l)
|
BBB–
|
5.000%
|
03/26/2014
|
1,595,923
|
|||||||||
Iron & Steel – 2.5%
|
||||||||||||||
180,571
|
ArcelorMittal, Series MTUS (Luxembourg)(j) (l)
|
B+
|
6.000%
|
01/15/2016
|
3,766,603
|
|||||||||
Telecommunications – 0.6%
|
||||||||||||||
1,000
|
Lucent Technologies Capital Trust I
|
CCC
|
7.750%
|
03/15/2017
|
945,000
|
|||||||||
Total Convertible Preferred Stocks – 9.1%
|
||||||||||||||
(Cost $13,012,693)
|
13,834,351
|
See notes to financial statements.
|
14 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
PORTFOLIO OF INVESTMENTS (Unaudited) continued
|
April 30, 2013
|
Number of
|
||||||||||||
Shares
|
Description
|
Rating*
|
Coupon
|
Maturity
|
Value
|
|||||||
Common Stocks – 16.6%
|
||||||||||||
Airlines – 0.6%
|
||||||||||||
50,000
|
Delta Air Lines, Inc.(i) (j)
|
$
|
857,000
|
|||||||||
Banks – 3.9%
|
||||||||||||
299,800
|
Mitsubishi UFJ Financial Group, Inc. (Japan)
|
2,040,523
|
||||||||||
914,600
|
Mizuho Financial Group, Inc. (Japan)
|
2,018,674
|
||||||||||
41,500
|
Sumitomo Mitsui Financial Group, Inc. (Japan)
|
1,961,888
|
||||||||||
6,021,085
|
||||||||||||
Biotechnology – 0.3%
|
||||||||||||
91,532
|
Harvard Bioscience, Inc.(i)
|
468,644
|
||||||||||
Commercial Services – 0.3%
|
||||||||||||
25,800
|
Park24 Co. Ltd. (Japan)
|
520,450
|
||||||||||
Electrical Components & Equipment – 0.5%
|
||||||||||||
11,200
|
Nidec Corp. (Japan)
|
762,304
|
||||||||||
Health Care Products – 0.8%
|
||||||||||||
35,000
|
ArthroCare Corp.(i)
|
1,212,750
|
||||||||||
Health Care Services – 0.5%
|
||||||||||||
27,000
|
Brookdale Senior Living, Inc.(i) (j) (l)
|
696,330
|
||||||||||
Insurance – 2.0%
|
||||||||||||
75,000
|
American International Group, Inc.(i) (j) (l)
|
3,106,500
|
||||||||||
Internet – 1.4%
|
||||||||||||
3,072
|
priceline.com, Inc.(i) (j) (l)
|
2,138,081
|
||||||||||
Miscellaneous Manufacturing – 1.0%
|
||||||||||||
23,900
|
FUJIFILM Holdings Corp. (Japan)
|
490,219
|
||||||||||
40,000
|
Textron, Inc.(j)
|
1,030,000
|
||||||||||
1,520,219
|
||||||||||||
Pharmaceuticals – 2.0%
|
||||||||||||
27,000
|
BioMarin Pharmaceutical, Inc.(i) (j) (l)
|
1,771,200
|
||||||||||
83,100
|
MannKind Corp.(i)
|
328,245
|
||||||||||
30,000
|
Questcor Pharmaceuticals, Inc.(j) (l)
|
922,200
|
||||||||||
3,021,645
|
||||||||||||
Real Estate – 1.0%
|
||||||||||||
32,000
|
Realogy Holdings Corp.(i) (j) (l)
|
1,536,000
|
||||||||||
Real Estate Investment Trusts – 0.4%
|
||||||||||||
24,564
|
Spirit Realty Capital, Inc.
|
528,863
|
||||||||||
Retail – 1.4%
|
||||||||||||
75,000
|
Aeropostale, Inc.(i) (j) (l)
|
1,099,500
|
||||||||||
15,000
|
Tiffany & Co.(j) (l)
|
1,105,200
|
||||||||||
2,204,700
|
||||||||||||
Telecommunications – 0.5%
|
||||||||||||
25,853
|
Vodafone Group PLC, ADR (United Kingdom)
|
790,843
|
||||||||||
Total Common Stocks – 16.6%
|
||||||||||||
(Cost $24,412,020)
|
25,385,414
|
See notes to financial statements.
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 15
|
PORTFOLIO OF INVESTMENTS (Unaudited) continued
|
April 30, 2013
|
Number
|
||||||||||
of Shares
|
Description
|
Value
|
||||||||
Warrants – 0.1%
|
||||||||||
159,000
|
MannKind Corp., expiring 02/15/2019 (i)
|
|||||||||
(Cost $70,560)
|
$
|
198,750
|
||||||||
Total Long-Term Investments – 132.1%
|
||||||||||
(Cost $192,853,824)
|
201,570,765
|
|||||||||
Contracts
|
||||||||||
(100 shares
|
Expiration
|
Exercise
|
||||||||
per contract)
|
Options Purchased (i)
|
Date
|
Price
|
Value
|
||||||
Call Options Purchased – 0.1%
|
||||||||||
1,000
|
Aeropostale, Inc.
|
May 2013
|
$ 15.00
|
$
|
40,000
|
|||||
150
|
Coinstar, Inc.
|
May 2013
|
$ 57.50
|
4,500
|
||||||
998
|
NetApp, Inc.
|
June 2013
|
$ 39.00
|
70,858
|
||||||
(Cost $127,297)
|
115,358
|
|||||||||
Put Options Purchased – 0.0%***
|
||||||||||
370
|
Cliffs Natural Resources, Inc.
|
May 2013
|
$ 16.00
|
3,700
|
||||||
2,000
|
iShares Russell 2000 Index Fund
|
May 2013
|
$ 86.00
|
24,000
|
||||||
500
|
iShares Russell 2000 Index Fund
|
May 2013
|
$ 87.00
|
8,000
|
||||||
369
|
iShares Russell 2000 Index Fund
|
May 2013
|
$ 88.00
|
8,118
|
||||||
(Cost $288,204)
|
43,818
|
|||||||||
Total Options Purchased – 0.1%
|
||||||||||
(Cost $415,501)
|
159,176
|
|||||||||
Total Investments – 132.2%
|
||||||||||
(Cost $193,269,325)
|
201,729,941
|
|||||||||
Other Assets in excess of Liabilities – 1.0%
|
1,552,162
|
|||||||||
Total Value of Options Written – (0.5%) (Premiums received – $732,954)
|
(724,519
|
)
|
||||||||
Borrowings – (32.7% of Net Assets or 24.7% of Total Investments)
|
(50,000,000
|
)
|
||||||||
Net Assets – 100.0%
|
$
|
152,557,584
|
~
|
The principal amount is denominated in U.S. Dollars unless otherwise noted.
|
*
|
Ratings shown are per Standard & Poor’s Rating Group, Moody’s Investor Services, Inc. or Fitch Ratings. Securities classified as NR are not rated. (For securities not rated by Standard & Poor’s Rating Group, the rating by Moody’s Investor Services, Inc. is provided. Likewise, for securities not rated by Standard & Poor’s Rating Group and Moody’s Investor Services, Inc., the rating by Fitch Ratings is provided.) All ratings are unaudited. The ratings apply to the credit worthiness of the issuers of the underlying securities and not to the Fund or its shares.
|
**
|
Date and price of the earliest optional call or put provision. There may be other call provisions at varying prices at later dates.
|
***
|
Amount is less than 0.1%.
|
(a)
|
Securities are exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At April 30, 2013, these securities amounted to $37,240,434, which represents 24.4% of net assets.
|
See notes to financial statements.
|
16 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
PORTFOLIO OF INVESTMENTS (Unaudited) continued
|
April 30, 2013
|
(b)
|
Zero coupon bond.
|
(c)
|
Security is a “step-down” bond where the coupon decreases or steps down at a predetermined rate. The rate shown reflects the rate in effect as of April 30, 2013.
|
(d)
|
Security becomes an accreting bond after December 15, 2016 with a 2.00% principal accretion rate.
|
(e)
|
Security becomes an accreting bond after March 1, 2018 with a 2.00% principal accretion rate.
|
(f)
|
Security is perpetual and, thus does not have a predetermined maturity date. The coupon rate shown is in effect as of April 30, 2013.
|
(g)
|
Term loans held by the Fund have a variable interest rate feature which is periodically adjusted based on an underlying interest rate benchmark. In addition, term loans may include mandatory and/or optional prepayment terms. As a result, the actual maturity dates of the loan may be different than the date disclosed in the portfolio of investments. Term loans may be considered restricted in that the Fund may be contractually obligated to secure approval from the Agent Bank and/or Borrower prior to the sale or disposition of loan.
|
(h)
|
The issuer of this security may elect to accrue interest at a rate of 11.500% per annum and make interest payments as follows: (1) 1.000% in payment-in-kind shares and (2) 10.500% in cash until August 2013. Thereafter, the issuer will pay the 11.500% coupon entirely in cash.
|
(i)
|
Non-income producing security.
|
(j)
|
All or a portion of this security is segregated as collateral (or potential collateral for future transactions) for written options.
|
(k)
|
Security becomes an accreting bond after December 15, 2013 with a 2.00% principal accretion rate.
|
(l)
|
All or a portion of this security has been physically segregated in connection with the line of credit and forward exchange currency contracts. As of April 30, 2013, the total amount segregated was $106,416,356.
|
(m)
|
The issuer of this security will make interest payments of 1.250% payment-in-kind shares until first out notes are repaid. Thereafter, 2.250% payment-in-kind shares and 11.875% in cash.
|
Contracts
|
||||||||||
(100 shares
|
Expiration
|
Exercise
|
||||||||
per contract)
|
Call Options Written (a)
|
Month
|
Price
|
Market Value
|
||||||
400
|
Aeropostale, Inc.
|
January 2014
|
$ 18.00
|
$
|
(35,000
|
)
|
||||
750
|
American International Group, Inc.
|
November 2013
|
48.00
|
(71,250
|
)
|
|||||
922
|
ArcelorMittal
|
January 2014
|
14.00
|
(84,363
|
)
|
|||||
270
|
BioMarin Pharmaceutical, Inc.
|
October 2013
|
75.00
|
(37,800
|
)
|
|||||
270
|
Brookdale Senior Living, Inc.
|
July 2013
|
30.00
|
(14,175
|
)
|
|||||
500
|
Delta Air Lines, Inc.
|
September 2013
|
21.00
|
(27,000
|
)
|
|||||
924
|
MGM Resorts International
|
January 2015
|
17.00
|
(151,536
|
)
|
|||||
29
|
priceline.com, Inc.
|
January 2014
|
750.00
|
(142,970
|
)
|
|||||
200
|
Questcor Pharmaceuticals, Inc.
|
July 2013
|
38.00
|
(20,500
|
)
|
|||||
320
|
Realogy Holdings Corp.
|
September 2013
|
55.00
|
(35,200
|
)
|
|||||
400
|
Textron, Inc.
|
December 2013
|
29.00
|
(46,600
|
)
|
|||||
150
|
Tiffany & Co.
|
January 2014
|
80.00
|
(58,125
|
)
|
|||||
Total Value of Call Options Written
|
||||||||||
(Premiums received $(732,954))
|
$
|
(724,519
|
)
|
|||||||
(a) Non-income producing security.
|
See notes to financial statements.
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 17
|
STATEMENT OF ASSETS AND LIABILITIES (Unaudited)
|
April 30, 2013
|
Assets
|
||||
Investments, at value (cost $193,269,325)
|
$
|
201,729,941
|
||
Cash & cash equivalents
|
2,508,295
|
|||
Securities sold receivable
|
7,008,735
|
|||
Interest receivable
|
1,258,090
|
|||
Unrealized appreciation on forward exchange currency contracts
|
96,248
|
|||
Unrealized appreciation on unfunded loan commitments
|
625
|
|||
Dividends receivable
|
15,730
|
|||
Tax reclaims receivable
|
6,824
|
|||
Other assets
|
3
|
|||
Total assets
|
212,624,491
|
|||
Liabilities
|
||||
Borrowings
|
50,000,000
|
|||
Payable for securities purchased
|
8,569,510
|
|||
Options written, at value (premiums received of $732,954)
|
724,519
|
|||
Unrealized depreciation on forward exchange currency contracts
|
356,077
|
|||
Investment management fee payable
|
83,548
|
|||
Investment advisory fee payable
|
80,271
|
|||
Interest due on borrowings
|
60,801
|
|||
Trustees fee payable
|
5,988
|
|||
Administrative fee payable
|
4,427
|
|||
Accrued expenses and other liabilities
|
181,766
|
|||
Total liabilities
|
60,066,907
|
|||
Net Assets
|
$
|
152,557,584
|
||
Composition of Net Assets
|
||||
Common stock, $0.001 par value per share; unlimited number of shares authorized, 13,603,025 shares issued and outstanding
|
$
|
13,603
|
||
Additional paid-in capital
|
221,675,659
|
|||
Accumulated net realized loss on investments, written options, swaps and foreign currency transactions
|
(73,398,503
|
)
|
||
Net unrealized appreciation on investments, written options, unfunded loan commitments and foreign currency translation
|
8,193,826
|
|||
Distributions in excess of net investment income
|
(3,927,001
|
)
|
||
Net Assets
|
$
|
152,557,584
|
||
Net Asset Value
(based on 13,603,025 common shares outstanding)
|
$
|
11.21
|
See notes to financial statements.
|
18 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
STATEMENT OF OPERATIONS
For the six months ended April 30, 2013 (Unaudited)
|
April 30, 2013
|
Investment Income
|
|||||||
Interest
|
$
|
2,799,447
|
|||||
Dividends
|
998,587
|
||||||
Total income
|
$
|
3,798,034
|
|||||
Expenses
|
|||||||
Investment management fee
|
497,347
|
||||||
Investment advisory fee
|
477,844
|
||||||
Professional fees
|
102,877
|
||||||
Trustees’ fees and expenses
|
82,176
|
||||||
Fund accounting
|
33,704
|
||||||
Printing expense
|
27,712
|
||||||
Administration fee
|
26,812
|
||||||
Custodian fee
|
18,936
|
||||||
Insurance
|
14,668
|
||||||
NYSE listing fee
|
11,765
|
||||||
Transfer agent fee
|
8,842
|
||||||
Miscellaneous
|
4,198
|
||||||
Interest expense
|
324,078
|
||||||
Total expenses
|
1,630,959
|
||||||
Net investment income
|
2,167,075
|
||||||
Realized and Unrealized Gain (Loss) on Investments, Written Options, Swaps, Unfunded Loan
|
|||||||
Commitments and Foreign Currency Transactions
|
|||||||
Net realized gain (loss) on:
|
|||||||
Investments
|
9,919,878
|
||||||
Written options
|
(1,448,431
|
)
|
|||||
Foreign currency transactions
|
(59,409
|
)
|
|||||
Swaps
|
(702,617
|
)
|
|||||
Change in net unrealized appreciation (depreciation) on:
|
|||||||
Investments
|
4,644,574
|
||||||
Foreign currency translation
|
(322,211
|
)
|
|||||
Written options
|
(15,626
|
)
|
|||||
Swaps
|
(135,479
|
)
|
|||||
Unfunded loan commitments
|
625
|
||||||
Net realized and unrealized gain on investments, written options, swaps, unfunded loan commitments and foreign currency transactions
|
11,881,304
|
||||||
Net Increase in Net Assets Resulting from Operations
|
$
|
14,048,379
|
See notes to financial statements.
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 19
|
STATEMENT OF CHANGES IN NET ASSETS
|
April 30, 2013
|
For the
|
|||||||
Six Months Ended
|
For the
|
||||||
April 30, 2013
|
Year Ended
|
||||||
(unaudited
|
)
|
October 31, 2012
|
|||||
Change in Net Assets from Operations
|
|||||||
Net investment income
|
$
|
2,167,075
|
$
|
5,515,580
|
|||
Net realized gain (loss) on investments, written options, swaps, and foreign currency transactions
|
7,709,421
|
5,807,738
|
|||||
Net change in unrealized appreciation (depreciation) on investments, written options, swaps, unfunded loan commitments and foreign currency translation
|
4,171,883
|
527,291
|
|||||
Net increase in net assets resulting from operations
|
14,048,379
|
11,850,609
|
|||||
Distributions to Shareholders
|
|||||||
From and in excess of net investment income
|
(5,713,271
|
)
|
(11,707,174
|
)
|
|||
Return of capital
|
—
|
(453,930
|
)
|
||||
Total dividends and distributions to common shareholders
|
(5,713,271
|
)
|
(12,161,104
|
)
|
|||
Total increase (decrease) in net assets
|
8,335,108
|
(310,495
|
)
|
||||
Net Assets
|
|||||||
Beginning of year
|
144,222,476
|
144,532,971
|
|||||
End of year (including distributions in excess of net investment income of $(3,927,001) and $(380,805), respectively)
|
$
|
152,557,584
|
$
|
144,222,476
|
See notes to financial statements.
|
20 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
STATEMENT OF CASH FLOWS
For the six months ended April 30, 2013 (Unaudited)
|
April 30, 2013
|
Cash Flows from Operating Activities:
|
||||
Net increase in net assets resulting from operations
|
$
|
14,048,379
|
||
Adjustments to Reconcile Net Increase in Net Assets Resulting from Operations to
|
||||
Net Cash Provided by Operating and Investing Activities:
|
||||
Net change in unrealized appreciation on investments
|
(4,644,574
|
)
|
||
Net change in unrealized depreciation on written options
|
15,626
|
|||
Net change in unrealized depreciation on swaps
|
135,479
|
|||
Net change in unrealized depreciation on foreign currency translation
|
322,211
|
|||
Net realized gain on investments
|
(9,919,878
|
)
|
||
Purchase of long-term investments
|
(315,821,888
|
)
|
||
Proceeds from sale of long-term investments
|
314,693,217
|
|||
Corporate actions and other payments
|
(317,306
|
)
|
||
Net decrease in premiums received on written options
|
(124,103
|
)
|
||
Increase in securities sold receivable
|
(4,416,632
|
)
|
||
Decrease in interest receivable
|
338,330
|
|||
Decrease in dividends receivable
|
157,431
|
|||
Increase in tax reclaims receivable
|
(117
|
)
|
||
Decrease in upfront premium paid on swap contracts
|
412,718
|
|||
Decrease in other assets
|
14,669
|
|||
Decrease in interest due on borrowings
|
(2,680
|
)
|
||
Increase in payable for securities purchased
|
3,544,045
|
|||
Decrease in investment management fee payable
|
(806
|
)
|
||
Decrease in investment advisory fee payable
|
(775
|
)
|
||
Decrease in administrative fee payable
|
(46
|
)
|
||
Increase in trustee fee payable
|
5,377
|
|||
Decrease in accrued expenses and other liabilities
|
(22,799
|
)
|
||
Net Cash Provided by Operating and Investing Activities
|
(1,584,122
|
)
|
||
Cash Flows From Financing Activities:
|
||||
Dividends paid to common shareholders
|
(5,713,271
|
)
|
||
Net Cash Used by Financing Activities
|
(5,713,271
|
)
|
||
Net decrease in cash
|
(7,297,393
|
)
|
||
Cash at Beginning of Period
|
9,805,688
|
|||
Cash at End of Period
|
$
|
2,508,295
|
||
Supplemental Disclosure of Cash Flow Information: Cash paid during the period for interest
|
$
|
315,829
|
See notes to financial statements.
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 21
|
FINANCIAL HIGHLIGHTS
|
April 30, 2013
|
For the
|
||||||||||||||||||||||||
Six Months Ended
|
For the
|
For the
|
For the
|
For the
|
For the
|
|||||||||||||||||||
Per share operating performance for a common share
|
April 30, 2013
|
Year Ended
|
Year Ended
|
Year Ended
|
Year Ended
|
Year Ended
|
||||||||||||||||||
outstanding throughout the period
|
(unaudited)
|
October 31, 2012
|
October 31, 2011
|
October 31, 2010
|
October 31, 2009
|
October 31, 2008
|
||||||||||||||||||
Net asset value, beginning of period
|
$ | 10.60 | $ | 10.63 | $ | 12.11 | $ | 11.72 | $ | 10.91 | $ | 20.09 | ||||||||||||
Income from investment operations
|
||||||||||||||||||||||||
Net investment income
(a)
|
0.16 | 0.41 | 0.42 | 0.40 | 0.39 | 0.47 | ||||||||||||||||||
Net realized and unrealized gain (loss) on investments, written options, swaps, and foreign currency transactions
|
0.87 | 0.45 | (0.84 | ) | 1.05 | 1.56 | (8.05 | ) | ||||||||||||||||
Total from investment operations
|
1.03 | 0.86 | (0.42 | ) | 1.45 | 1.95 | (7.58 | ) | ||||||||||||||||
Distributions to shareholders
|
||||||||||||||||||||||||
From and in excess of net investment income
|
(0.42 | ) | (0.86 | ) | (0.47 | ) | (1.06 | ) | (0.67 | ) | (0.90 | ) | ||||||||||||
Return of capital
|
– | (0.03 | ) | (0.59 | ) | – | (0.47 | ) | (0.70 | ) | ||||||||||||||
Total distributions
|
(0.42 | ) | (0.89 | ) | (1.06 | ) | (1.06 | ) | (1.14 | ) | (1.60 | ) | ||||||||||||
Net asset value, end of period
|
$ | 11.21 | $ | 10.60 | $ | 10.63 | $ | 12.11 | $ | 11.72 | $ | 10.91 | ||||||||||||
Market value, end of period
|
$ | 10.01 | $ | 9.46 | $ | 9.73 | $ | 11.38 | $ | 10.48 | $ | 8.97 | ||||||||||||
Total investment return
(b)
|
||||||||||||||||||||||||
Net asset value
|
10.00 | % | 8.59 | % | -4.18 | % | 13.14 | % | 19.74 | % | -40.37 | % | ||||||||||||
Market value
|
10.57 | % | 6.78 | % | -6.27 | % | 19.37 | % | 34.17 | % | -42.88 | % | ||||||||||||
Ratios and supplemental data
|
||||||||||||||||||||||||
Net assets, end of period (thousands)
|
$ | 152,558 | $ | 144,222 | $ | 144,533 | $ | 168,684 | $ | 159,370 | $ | 148,383 | ||||||||||||
Ratios to Average Net Assets applicable to Common Shares:
|
||||||||||||||||||||||||
Operating Expenses
|
1.80 | % (d)(f) | 1.82 | % (f) | 1.72 | % | 1.71 | % | 1.42 | % | 1.34 | % | ||||||||||||
Interest Expense
(c)
|
0.44 | % (d) | 0.50 | % | 0.39 | % | 0.39 | % (d) | N/A | N/A | ||||||||||||||
Total Expenses
|
2.24 | % (d)(f) | 2.32 | % (f) | 2.11 | % | 2.10 | % | N/A | N/A | ||||||||||||||
Net investment income
|
2.98 | % (d) | 3.85 | % | 3.54 | % | 3.43 | % | 3.68 | % | 2.91 | % | ||||||||||||
Portfolio turnover rate
(g)
|
163 | % | 141 | % | 121 | % | 127 | % | 236 | % | 192 | % | ||||||||||||
Senior Indebtedness
|
||||||||||||||||||||||||
Total Borrowings outstanding (in thousands)
|
$ | 50,000 | $ | 50,000 | $ | 50,000 | $ | 50,000 | N/A | N/A | ||||||||||||||
Asset Coverage per $1,000 of indebtedness
(e)
|
$ | 4,051 | $ | 3,884 | $ | 3,891 | $ | 4,293 | N/A | N/A |
(a)
|
Based on average shares outstanding during the period.
|
(b)
|
Total investment return is calculated assuming a purchase of a common share at the beginning of the period and a sale on the last day of the period reported either at net asset value (“NAV”) or market price per share. Distributions are assumed to be reinvested at NAV for NAV returns or the prices obtained under the Fund’s Dividend Reinvestment Plan for market value returns. Total investment return does not reflect brokerage commissions. A return calculated for a period of less than one year is not annualized.
|
(c)
|
Interest expense ratio relates to interest associated with borrowings.
|
(d)
|
The ratio is annualized.
|
(e)
|
Calculated by subtracting the Fund’s total liabilities (not including the borrowings) from the Fund’s total assets and dividing by the total borrowings.
|
(f)
|
The expense ratio does not reflect fees and expenses incurred by the Fund as a result of its investment in shares of other business development companies. If these fees were included in the expense ratio, the increase to the expense ratio would be approximately 0.02% for the six months ended April 30, 2013 and 0.07% for the year ended October 31, 2012.
|
(g)
|
Portfolio turnover is not annualized for periods of less than one year.
|
See notes to financial statements.
|
22 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
NOTES TO FINANCIAL STATEMENTS (Unaudited)
|
April 30, 2013
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 23
|
NOTES TO FINANCIAL STATEMENTS (Unaudited) continued
|
April 30, 2013
|
Quoted Prices
|
|||||||||||||
in Active
|
Significant
|
||||||||||||
Markets for
|
Other
|
Significant
|
|||||||||||
Identical
|
Observable
|
Unobservable
|
|||||||||||
Assets
|
Inputs
|
Inputs
|
|||||||||||
Description
|
(Level 1
|
)
|
(Level 2
|
)
|
(Level 3
|
)
|
Total
|
||||||
(value in $000s)
|
|||||||||||||
Assets:
|
|||||||||||||
Convertible Bonds
|
$
|
—
|
$
|
141,148
|
$
|
—
|
$
|
141,148
|
|||||
Corporate Bonds
|
—
|
19,986
|
—
|
19,986
|
|||||||||
Term Loans
|
—
|
1,018
|
—
|
1,018
|
|||||||||
Convertible
|
|||||||||||||
Preferred Stocks:
|
|||||||||||||
Auto Manufacturers
|
2,603
|
—
|
—
|
2,603
|
|||||||||
Auto Parts
|
|||||||||||||
& Equipment
|
1,196
|
—
|
—
|
1,196
|
|||||||||
Banks
|
3,728
|
—
|
—
|
3,728
|
|||||||||
Insurance
|
1,596
|
—
|
—
|
1,596
|
|||||||||
Iron & Steel
|
3,767
|
—
|
—
|
3,767
|
|||||||||
Telecommunications
|
—
|
945
|
—
|
945
|
|||||||||
Common Stocks
|
25,385
|
—
|
—
|
25,385
|
|||||||||
Warrants
|
—
|
199
|
—
|
199
|
|||||||||
Options Purchased
|
159
|
—
|
—
|
159
|
|||||||||
Foreign Exchange
|
|||||||||||||
Currency Contracts
|
—
|
96
|
—
|
96
|
|||||||||
Unfunded loan
|
|||||||||||||
commitments
|
—
|
625
|
—
|
625
|
|||||||||
Total Assets
|
$
|
38,434
|
$
|
164,017
|
$
|
—
|
$
|
202,451
|
|||||
Liabilities:
|
|||||||||||||
Options Written
|
$
|
725
|
$
|
—
|
$
|
—
|
$
|
725
|
|||||
Foreign Exchange
|
|||||||||||||
Currency Contracts
|
—
|
356
|
—
|
356
|
|||||||||
Total Liabilities
|
$
|
725
|
$
|
356
|
$
|
—
|
$
|
1,081
|
24 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
NOTES TO FINANCIAL STATEMENTS (Unaudited) continued
|
April 30, 2013
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 25
|
NOTES TO FINANCIAL STATEMENTS (Unaudited) continued
|
April 30, 2013
|
26 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
NOTES TO FINANCIAL STATEMENTS (Unaudited) continued
|
April 30, 2013
|
Managed Assets
|
Rate
|
|||
First $200,000,000
|
0.0275
|
%
|
||
Next $300,000,000
|
0.0200
|
%
|
||
Next $500,000,000
|
0.0150
|
%
|
||
Over $1,000,000,000
|
0.0100
|
%
|
|
Net Tax
|
||||||||||||
Cost of
|
|
|
Net Tax
|
Unrealized
|
|||||||||
Investments
|
Gross Tax
|
Gross Tax
|
Unrealized
|
Depreciation
|
|||||||||
for Tax
|
Unrealized
|
Unrealized
|
Appreciation
|
on Derivatives and
|
|||||||||
Purposes
|
Appreciation
|
Depreciation
|
on Investments
|
Foreign Currency
|
|||||||||
$ 194,095,367
|
$
|
11,602,136
|
$
|
(3,967,562
|
)
|
$
|
7,634,574
|
$
|
(251,395
|
)
|
Undistributed
|
Undistributed
|
||||||
Ordinary
|
Long-Term
|
||||||
Income/
|
Gains/
|
||||||
(Accumulated
|
(Accumulated
|
||||||
Ordinary Loss
|
)
|
Capital Loss
|
)
|
||||
$
|
—
|
$
|
(80,370,853
|
)
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 27
|
NOTES TO FINANCIAL STATEMENTS (Unaudited) continued
|
April 30, 2013
|
Distributions paid from:
|
2012
|
|||
Ordinary income
|
$
|
11,707,174
|
||
Return of capital
|
453,930
|
|||
$
|
12,161,104
|
Number of Contracts
|
Premiums Received
|
||||||
Options outstanding, beginning of year
|
8,199
|
$
|
857,057
|
||||
Options written during the year
|
67,308
|
7,159,748
|
|||||
Options expired during the year
|
(3,080
|
)
|
(202,840
|
)
|
|||
Options closed during the year
|
(66,889
|
)
|
(7,055,184
|
)
|
|||
Options assigned during the year
|
(403
|
)
|
(25,827
|
)
|
|||
Options outstanding, end of year
|
5,135
|
$
|
732,954
|
28 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
NOTES TO FINANCIAL STATEMENTS (Unaudited) continued
|
April 30, 2013
|
Net Unrealized
|
|||||||||||||
Value at
|
Appreciation
|
||||||||||||
Contracts to Sell
|
Counterparty
|
Settlement Date
|
Settlement Value
|
4/30/13
|
(Depreciation
|
) | |||||||
EUR
|
6,104,000
|
||||||||||||
for USD
|
7,975,913
|
The Bank of New York Mellon
|
6/19/2013
|
$ 7,975,913
|
$ 8,050,204
|
$ (74,291
|
) | ||||||
GBP
|
1,607,000
|
||||||||||||
for USD
|
2,433,730
|
The Bank of New York Mellon
|
6/19/2013
|
2,433,730
|
2,500,327
|
(66,597
|
) | ||||||
JPY
|
1,528,000,000
|
||||||||||||
for USD
|
15,475,131
|
The Bank of New York Mellon
|
6/19/2013
|
15,475,131
|
15,690,320
|
(215,189
|
) | ||||||
JPY
|
321,000,000
|
||||||||||||
for USD
|
3,349,210
|
The Bank of New York Mellon
|
6/19/2013
|
3,349,210
|
3,296,199
|
53,011
|
|||||||
(303,066
|
) |
Net Unrealized
|
|||||||||||||
Value at
|
Appreciation
|
||||||||||||
Contracts to Buy
|
Counterparty
|
Settlement Date
|
Settlement Value
|
4/30/13
|
(Depreciation
|
) | |||||||
EUR
|
1,612,000
|
||||||||||||
for USD
|
2,102,456
|
The Bank of New York Mellon
|
6/19/2013
|
$ 2,102,456
|
$ 2,125,971
|
$ 23,515
|
|||||||
GBP
|
533,000
|
||||||||||||
for USD
|
812,656
|
The Bank of New York Mellon
|
6/19/2013
|
812,656
|
829,293
|
16,637
|
|||||||
JPY
|
117,375,000
|
||||||||||||
for USD
|
1,201,874
|
The Bank of New York Mellon
|
6/19/2031
|
1,201,874
|
1,204,959
|
3,085
|
|||||||
43,237
|
|||||||||||||
Total unrealized depreciation on forward exchange currency contracts
|
$ (259,829
|
) |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 29
|
NOTES TO FINANCIAL STATEMENTS (Unaudited) continued
|
April 30, 2013
|
Statement of Asset & Liabilities Presentation of Fair Values of Derivative Instruments:
|
||||||||
(amounts in thousands)
|
||||||||
Asset Derivatives
|
Liability Derivatives
|
|||||||
Derivatives not accounted
for as hedging instruments
|
Statement of Assets
and Liabilities Location
|
Fair Value
|
Statement of Assets
and Liabilities Location
|
Fair Value
|
||||
Equity risk
|
Investments, at value
(options purchased)
|
$ 159
|
Options written, at value
|
$ 725
|
||||
Foreign exchange risk
|
Unrealized appreciation on forward
exchange currency contracts
|
96
|
Unrealized depreciation on forward
exchange currency contracts
|
356
|
||||
Total
|
$ 255
|
$ 1,081
|
Effect of Derivative Instruments on the Statement of Operations:
|
|||||||||||||
(amounts in thousands)
|
|||||||||||||
Amount of Realized Gain/(Loss) on Derivatives
|
|||||||||||||
Derivatives not accounted for as hedging
|
Foreign Currency
|
||||||||||||
instruments
|
Options
|
Swaps
|
Transactions
|
Total
|
|||||||||
Equity risk
|
$
|
(1,448
|
)
|
$
|
—
|
$
|
—
|
$
|
(1,448
|
)
|
|||
Credit risk
|
—
|
(703
|
)
|
—
|
(703
|
)
|
|||||||
Foreign exchange risk
|
—
|
—
|
(59
|
)
|
(59
|
)
|
|||||||
Total
|
$
|
(1,448
|
)
|
$
|
(703
|
)
|
$
|
(59
|
)
|
$
|
(2,210
|
)
|
Derivative Volume
|
||||
Forward Exchange Currency Contracts:
|
||||
Average Settlement Value Purchased
|
$
|
1,167,537
|
||
Average Settlement Value Sold
|
$
|
1,079,166
|
||
Ending Settlement Value Purchased
|
$
|
4,116,986
|
||
Ending Settlement Value Sold
|
$
|
29,233,984
|
30 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
NOTES TO FINANCIAL STATEMENTS (Unaudited) continued
|
April 30, 2013
|
Commitment | |||||||||||||
Borrower
|
Maturity Date
|
Rate if Funded
|
Par Value
|
Unrealized Appreciation
|
|||||||||
HJ Heinz Co.
|
10/31/14
|
5.00
|
%
|
$
|
1,000,000
|
$
|
625
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 31
|
SUPPLEMENTAL INFORMATION (Unaudited)
|
April 30, 2013
|
Name, Address, Year
of Birth and
Position(s) Held
with Registrant
|
Term of Office*
and Length
of Time Served
|
Principal Occupations During the Past Five Years and
Other Affiliations
|
Number of
Funds in
Fund Complex**
Overseen by Trustee
|
Other Directorships
Held by Trustee
|
||||
Independent Trustees:
|
||||||||
Daniel L. Black+
Year of birth: 1960
Trustee
|
Since 2005
|
Managing Partner, the Wicks Group of Cos., LLC (2003-present). Formerly, Managing Director and Co-head of the Merchant Banking Group at BNY Capital Markets, a division of The Bank of New York Co., Inc. (1998-2003).
|
3
|
Director, Bendon Publishing International (2012-present). Director of Antenna International, Inc. (2010-present). Director of Bonded Services, Ltd. (2011- present). Director of Penn Forest Education Group, Inc. (2007-2009).
|
||||
Randall C. Barnes++
Year of birth: 1951
Trustee
|
Since 2005
|
Private Investor (2001-present). Formerly, Senior Vice President & Treasurer PepsiCo, Inc. (1993-1997), President, Pizza Hut International (1991-1993) and Senior Vice President, Strategic Planning and New Business Development of PepsiCo, Inc. (1987-1990).
|
48
|
None.
|
||||
Derek Medina+
Year of birth: 1966
Trustee
|
Since 2004
|
Senior Vice President, Business Affairs at ABC News (2008-present). Vice President, Business Affairs and News Planning at ABC News (2003-2008). Formerly, Executive Director, Office of the President at ABC News (2000-2003). Former Associate at Cleary Gottlieb Steen & Hamilton (law firm) (1995-1998). Former associate in Corporate Finance at J.P. Morgan/ Morgan Guaranty (1988-1990).
|
3
|
Director, Young Scholar’s Institute (2005-present); Director, Oliver Scholars (2011-present).
|
||||
Ronald A. Nyberg++
Year of birth: 1953
Trustee
|
Since 2004
|
Partner of Nyberg & Cassioppi, LLC, a law firm specializing in corporate law, estate planning and business transactions (2000-present). Formerly, Executive Vice President, General Counsel and Corporate Secretary of Van Kampen Investments (1982-1999).
|
50
|
None.
|
||||
Gerald L. Seizert, CFA, CIC+
Year of birth: 1952
Trustee
|
Since 2004
|
Chief Executive Officer of Seizert Capital Partners, LLC, where he directs the equity disciplines of the firm and serves as a co-manager of the firm’s hedge funds. Formerly, Co-Chief Executive (1998-1999) and a Managing Partner and Chief Investment Officer-Equities of Munder Capital Management, LLC (1995-1999). Former Vice President and Portfolio Manager of Loomis, Sayles & Co., L.P. (asset manager) (1984-1995). Former Vice President and Portfolio Manager at First of America Bank (1978-1984).
|
3
|
Director, Beaumont Hospital (2012-present).
|
||||
Michael A. Smart+
Year of birth: 1960
Trustee
|
Since 2004
|
Managing Partner, Cordova, Smart & Williams, LLC (2003-present). Formerly, Principal, First Atlantic Capital Ltd., (2001-2004). Formerly, a Managing Director in Investment Banking-The Private Equity Group (1995-2001) and a Vice President in Investment Banking-Corporate Finance (1992-1995) at Merrill Lynch & Co. Founding Partner of The Carpediem Group, a private placement firm (1991-1992). Former Associate at Dillon, Read and Co. (investment bank) (1988-1990).
|
3
|
Chairman, Board of Directors, Berkshire Blanket, Inc. (2006- present); President and Chairman, Board of Directors, Sqwincher Holdings (2006-present); Board of Directors, Sprint Industrial Holdings (2007-present); Board of Directors, National Association of Investment Companies (“NAIC”) (2010-present).
|
32 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
SUPPLEMENTAL INFORMATION (Unaudited) continued
|
April 30, 2013
|
Name, Address, Year
of Birth and
Position(s) Held
with Registrant
|
Term of Office*
and Length
of Time Served
|
Principal Occupations During the Past Five Years and
Other Affiliations
|
Number of
Funds in
Fund Complex**
Overseen by Trustee
|
Other Directorships
Held by Trustee
|
||||
Interested Trustees:
|
||||||||
Tracy V. Maitland+ø
Year of birth: 1960
Trustee, President and
Chief Executive Officer
|
Since 2004
|
President of Advent Capital Management, LLC, which he founded in June 2001. Prior to June 2001, President of Advent Capital Management, a division of Utendahl Capital.
|
3
|
None.
|
+
|
Address for all Trustees noted: 1271 Avenue of the Americas, 45th Floor, New York, NY 10018
|
++
|
Address for all Trustees noted: 2455 Corporate West Drive, Lisle, IL 60532
|
*
|
Each Trustee generally serves a three-year term concurrent with the class of Trustees for which he serves:
|
—
|
Messrs. Smart and Black, as Class I Trustees, are expected to stand for re-election at the Fund’s 2014 annual meeting of shareholders.
|
|
—
|
Messrs. Maitland and Nyberg, as a Class II Trustees, are expected to stand for re-election at the Fund’s 2015 annual meeting of shareholders.
|
**
|
The Guggenheim Investments Fund Complex consists of U.S. registered investment companies advised or serviced by Guggenheim Funds Investment Advisors, LLC or Guggenheim Funds Distributors, LLC, or affiliates of such entities. The Guggenheim Investments Fund Complex is overseen by multiple Boards of Trustees.
|
ø
|
Mr. Maitland is an “interested person” (as defined in section 2(a)(19) of the 1940 Act) of the Fund because of his position as an officer of Advent Capital Management, LLC, the Fund’s Investment Manager.
|
Name, Address*, Year of Birth and
Position(s) Held with Registrant
|
Term of Office** and
Length of Time Served
|
Principal Occupations During the Past Five Years and
Other Affiliations
|
||
Officers: | ||||
Robert White
Year of birth: 1965
Treasurer and
Chief Financial Officer
|
Since 2005
|
Chief Financial Officer, Advent Capital Management, LLC (2005-present). Previously, Vice President, Client Service Manager, Goldman Sachs Prime Brokerage (1997-2005).
|
||
Edward C. Delk
Year of birth: 1968
Secretary and
Chief Compliance Officer
|
Since 2012
|
General Counsel and Chief Compliance Officer, Advent Capital Management, LLC (2012-present). Formerly, Assistant General Counsel and Chief Compliance Officer, Insight Venture Management, LLC (2009-2012). Associate General Counsel, TIAA-CREF (2008-2009). Principal, Legal Department, The Vanguard Group, Inc. (2000-2008).
|
||
Douglas Teresko
Year of Birth: 1971
Vice President and
Assistant Secretary
|
Since 2013
|
Managing Director and co- Portfolio Manager, Advent Capital Management, LLC (2011-present). Formerly, Portfolio Manager of Credit Suisse (2005-2011); Portfolio Manager of DKR Capital (2003-2005); Portfolio Manager, GDO Capital (2001-2003); Portfolio Manager of Citadel Investment Group (1999-2001).
|
*
|
Address for all Officers unless otherwise noted: 1271 Avenue of the Americas, 45th Floor, New York, NY 10018
|
**
|
Officers serve at the pleasure of the Board of Trustees and until his or her successor is appointed and qualified or until his or her earlier resignation or removal.
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 33
|
DIVIDEND REINVESTMENT PLAN (Unaudited)
|
April 30, 2013
|
34 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
INVESTMENT MANAGEMENT AGREEMENT RE-APPROVAL
|
April 30, 2013
|
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 35
|
INVESTMENT MANAGEMENT AGREEMENT RE-APPROVAL continued
|
April 30, 2013
|
36 |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT
|
FUND INFORMATION
|
April 30, 2013
|
Board of Trustees
Randall C. Barnes
Daniel L. Black
Tracy V. Maitland*
Chairman
Derek Medina
Ronald A. Nyberg
Gerald L. Seizert
Michael A. Smart
|
Officers
Tracy V. Maitland
President and Chief
Executive Officer
Robert White
Treasurer and Chief
Financial Officer
Edward C. Delk
Secretary and Chief
Compliance Officer
Douglas Teresko
Vice President and
Assistant Secretary
|
Investment Manager
Advent Capital
Management, LLC
New York, New York
Investment Adviser
Guggenheim Funds
Investment Advisors, LLC
Lisle, Illinois
Administrator
Rydex Fund Services, LLC
Rockville, Maryland
Accounting Agent
and Custodian
The Bank of
New York Mellon
New York, New York
|
Legal Counsel
Skadden, Arps, Slate,
Meagher & Flom LLP
New York, New York
Independent Registered
Public Accounting Firm
PricewaterhouseCoopers LLP
New York, New York
|
|
*
|
Trustee is an “interested person” of the Fund as defined in the Investment Company Act of 1940, as amended.
|
|||
•
|
If your shares are held in a Brokerage Account, contact your Broker.
|
•
|
If you have physical possession of your shares in certificate form, contact the Fund’s Transfer Agent:
|
Computershare Shareowner Services LLC, 480 Washington Boulevard, Jersey City, NJ 07310; (866) 488-3559. |
LCM
| ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND SEMIANNUAL REPORT | 39
|
ABOUT THE FUND MANAGER
|
1
|
Screen the convertible and high-yield markets for securities with attractive risk/reward characteristics and favorable cash flows;
|
2
|
Analyze the quality of issues to help manage downside risk;
|
3
|
Analyze fundamentals to identify catalysts for favorable performance; and
|
4
|
Continually monitor the portfolio for improving or deteriorating trends in the financials of each investment.
|
Advent Capital Management, LLC
|
Guggenheim Funds Distributors, LLC
|
1271 Avenue of the Americas
|
2455 Corporate West Drive
|
New York, New York 10018
|
Lisle, IL 60532
|
Member FINRA/SIPC
|
|
(6/13)
|
Name
|
Since
|
Professional Experience
|
Tracy Maitland
|
2003
(Inception)
|
Chief Executive Officer and Founder at Advent Capital Management, LLC.
|
Hart Woodson
|
2007
(Inception)
|
Portfolio Manager at Advent Capital Management, LLC since March 2007. He was previously a Senior Vice President at GAMCO Investments, Inc. from 1994-2007.
|
Paul Latronica
|
2011
|
Portfolio Manager at Advent Capital Management, LLC. He has been associated with Advent Capital Management for more than fifteen years.
|
Doug Teresko
|
2013
|
Portfolio Manager at Advent Capital Management, LLC since October 2011. He was previously Head of Relative Value Equity Trading at Credit Suisse from 2005–2011.
|
Type of Account
|
Number of
Accounts
|
Total Assets
in the Accounts
|
Number of Accounts
In Which the Advisory
Fee is Based on Performance
|
Total Assets in the
Accounts In Which the
Advisory Fee is Based
on Performance
|
Registered investment companies
|
2
|
$1,134,589,140.66
|
0
|
0
|
Other pooled investment vehicles
|
1
|
$13,013,261.58
|
0
|
0
|
Other accounts
|
55
|
$3,801,264,340.81
|
1
|
$ 406,596,087.84
|
Type of Account
|
Number of
Accounts
|
Total Assets
in the Accounts
|
Number of Accounts
In Which the Advisory
Fee is Based on Performance
|
Total Assets in the
Accounts In Which the
Advisory Fee is Based
on Performance
|
Registered investment companies
|
2
|
$1,134,589,140.66
|
0
|
0
|
Other pooled investment vehicles
|
6
|
$652,653,944.14
|
0
|
0
|
Other accounts
|
15
|
$1,999,340,878.84
|
0
|
0
|
Type of Account
|
Number of
Accounts
|
Total Assets
in the Accounts
|
Number of Accounts
In Which the Advisory
Fee is Based on Performance
|
Total Assets in the
Accounts In Which the
Advisory Fee is Based
on Performance
|
Registered investment companies
|
2
|
$1,134,589,140.66
|
0
|
0
|
Other pooled investment vehicles
|
5
|
$639,640,682.56
|
0
|
0
|
Other accounts
|
3
|
$350,495,590.02
|
0
|
0
|
Type of Account
|
Number of
Accounts
|
Total Assets
in the Accounts
|
Number of Accounts In
Which the Advisory Fee
is Based on Performance
|
Total Assets in the
Accounts In Which the
Advisory Fee is Based
on Performance
|
Registered investment companies
|
0
|
$0
|
0
|
0
|
Other pooled investment vehicles
|
0
|
$0
|
0
|
0
|
Other accounts
|
177
|
$166,900,333.08
|
0
|
0
|
Name of Portfolio Manager
|
Dollar Range of Equity Securities in Fund |
Tracy Maitland | $5,001- $50,000 |
Paul Latronica | $5,001- $50,000 |
Hart Woodson | $100,001 - $500,000 |
Doug Teresko | $100,001 - $500,000 |
1 Year Advent Claymore Chart |
1 Month Advent Claymore Chart |
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