UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-21504
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Advent/Claymore Enhanced Growth & Income Fund
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(Exact name of registrant as specified in charter)
1065 Avenue of the Americas, New York, NY 10018
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(Address of principal executive offices) (Zip code)
Robert White, Treasurer
1065 Avenue of the Americas
New York, NY 10018
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(Name and address of agent for service)
Registrant's telephone number, including area code: (212) 479-0675
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Date of fiscal year end: October 31
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Date of reporting period: January 31, 2009
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q,
and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-Q
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street,
NW, Washington, DC 20549-0609. The OMB has reviewed this collection of
information under the clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
Attached hereto.
LCM | ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND
PORTFOLIO OF INVESTMENTS
JANUARY 31, 2009 (UNAUDITED)
PRINCIPAL AMOUNT VALUE
-----------------------------------------------------------------------------------------------------------------------
LONG-TERM INVESTMENTS -- 91.4%
CONVERTIBLE BONDS -- 49.6%
AEROSPACE AND DEFENSE - 1.6%
$ 2,000,000 Alliant Techsystems, Inc., BB-
2.75%, 2/15/24 (a) $ 2,170,000
-------------
AGRICULTURE - 1.8%
$ 750,000 Archer-Daniels-Midland Co., A
0.875%, 2/15/14 (a) 693,750
HKD 12,500,000 Chaoda Modern Agriculture Holdings Ltd., Ser. CHAO, BB-
0.00%, 5/8/11 (Cayman Islands) (f) 1,778,539
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2,472,289
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BANKS - 0.7%
$ 1,000,000 National City Corp., A
4.00%, 2/1/11 918,750
-------------
BEVERAGES - 0.7%
$ 950,000 Molson Coors Brewing Co., BBB
2.50%, 7/30/13 (a) 1,023,625
-------------
BIOTECHNOLOGY - 3.9%
$ 3,000,000 Amgen, Inc., A+
0.125%, 2/1/11 2,790,000
$ 1,150,000 Life Technologies Corp., BB+
2.00%, 8/1/23 (a) 1,105,438
$ 1,500,000 United Therapeutics Corp., NR
0.50%, 10/15/11 (a) 1,539,375
-------------
5,434,813
-------------
CHEMICALS -- 4.1%
(euro) 2,000,000 Bayer Capital Corp. BV, BBB
6.625%, 6/1/09 (Netherlands) (a) 2,907,209
CHF 1,300,000 Lonza Finance Ltd., NR
1.50%, 7/15/09 (Jersey) (a) 1,302,016
HKD 9,250,000 Sinofert Holdings Ltd., NR
0.00% 8/7/11 (Bermuda) (f) 1,514,897
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5,724,122
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COAL - 0.6%
$ 1,250,000 Massey Energy Co., BB-
3.25%, 8/1/15 (a) 771,875
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COMPUTERS - 1.4%
$ 500,000 DST Systems, Inc. NR
4.125%, 8/15/23 (a)(g) 463,125
$ 1,500,000 EMC Corp., A-
1.75%, 12/1/11 (a) 1,455,000
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1,918,125
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DIVERSIFIED FINANCIAL SERVICES - 5.3%
$ 3,750,000 Merrill Lynch & Co., Inc., NR
0.00%, 3/13/32 (f) (h) 4,071,000
$ 3,300,000 Nasdaq OMX Group, Inc. (The), BB+
2.50%, 8/15/13 (a)(d) 2,541,000
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6,612,000
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ELECTRONICS - 0.1%
$ 202,000 Flextronics International Ltd., BB-
1.00%, 8/1/10 (Singapore) 172,963
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HEALTHCARE - PRODUCTS - 2.7%
$ 1,500,000 Apogent Technologies, Inc., A-
0.74625%, 12/15/33 (a)(h) 1,911,900
$ 2,000,000 Beckman Coulter, Inc., BBB
2.50%, 12/15/36 (a) 1,902,500
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3,814,400
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HEALTHCARE - SERVICES - 1.0%
$ 1,565,000 Laboratory Corp. of America Holdings, BBB-
0.00%, 9/11/21 (a)(f) 1,320,469
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INSURANCE - 1.8%
$ 2,600,000 Prudential Financial, Inc., A
0.36625%, 12/15/37 (a)(h) 2,496,000
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INTERNET - 2.7%
$ 1,250,000 Akamai Technologies, Inc., NR
1.00%, 12/15/33 (a) 1,339,063
$ 1,500,000 HLTH Corp., NR
1.75%, 6/15/23 1,385,625
$ 1,000,000 Symantec Corp., NR
0.75%, 6/15/11 (a) 987,500
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3,712,188
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LEISURE TIME - 1.9%
$ 3,000,000 Carnival Corp., A-
2.00%, 4/15/21 (Panama) (a) 2,651,250
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MINING - 1.3%
$ 1,000,000 Newmont Mining Corp., BBB+
1.25%, 7/15/14 1,063,750
$ 500,000 Placer Dome, Inc./Barrick Gold Corp., A-
2.75%, 10/15/23 (Canada) (a) 782,500
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1,846,250
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MISCELLANEOUS MANUFACTURING - 1.0%
$ 1,600,000 Danaher Corp., A+
0.00%, 1/22/21 (a)(f) 1,394,000
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OIL & GAS - 2.8%
$ 838,000 Carrizo Oil & Gas, Inc., NR
4.375%, 6/01/28 (a) 424,238
$ 3,000,000 Transocean, Inc., Ser. A, BBB+
1.625%, 12/15/37 (Switzerland) (a) 2,655,000
$ 1,000,000 SOCO Finance Jersey Ltd., Ser. SIA, NR
4.50%, 5/16/13 (Jersey) 786,953
$ 1,000,000 Transocean, Inc., Ser. C, BBB+
1.5%, 12/15/37 (Switzerland) (a) 791,250
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4,657,441
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OIL & GAS SERVICES - 1.1%
$ 1,725,000 Core Laboratories LP, NR
0.25%, 10/31/11 (a) 1,571,906
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PACKAGING AND CONTAINERS - 0.2%
$ 330,000 Sealed Air Corp., BB+
3.00%, 6/30/33 (d) 284,625
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PHARMACEUTICALS - 2.7%
$ 1,750,000 Shire PLC, Ser. REGs, NR
2.75%, 5/9/14 (Jersey) (a) 1,423,424
$ 700,000 Teva Pharmaceutical Finance Co. BV, Ser. D, BBB+
1.75%, 2/1/26 (Netherlands Antilles) (a) 745,500
$ 1,625,000 Teva Pharmaceutical Finance LLC, Ser. C, BBB+
0.25%, 2/1/26 (a) 1,610,781
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3,779,705
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REITS - 2.5%
$ 944,000 Hospitality Properties Trust, BBB
3.80%, 3/15/27 (a) 588,820
$ 1,250,000 Host Hotels & Resorts LP, BB+
3.25%, 4/15/24 (d) 1,129,688
$ 1,300,000 Reckson Operating Partnership LP/SL Green Realty Corp., BB+
4.00%, 6/15/25 (a) 1,166,750
$ 700,000 UDR, Inc., BBB
4.00%, 12/15/35 (a) 593,250
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3,478,508
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RETAIL - 1.8%
$ 2,500,000 Dick's Sporting Goods, Inc., NR
0.00%, 2/18/24 (g) 1,662,500
HKD 5,800,000 Golden Eagle Retail Group Ltd., NR
0.00%, 10/23/11 (Cayman Islands) (f) 776,917
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2,439,417
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SEMICONDUCTORS - 1.6%
$ 2,083,000 Linear Technology Corp., Ser. A, NR
3.00%, 5/1/27 (a) 1,632,551
$ 750,000 ON Semiconductor Corp., Ser. B, B+
0.00%, 4/15/24 (a)(f) 647,813
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2,280,364
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SOFTWARE - 1.1%
$ 1,500,000 CA, Inc., BBB
1.625%, 12/15/09 (a) 1,567,500
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TELECOMMUNICATIONS - 3.2%
$ 1,600,000 Inmarsat PLC, Ser. ISAT, NR
1.75%, 11/16/17 (United Kingdom) 1,304,013
$ 1,250,000 Lucent Technologies, Inc., Ser. A, BB-
2.875%, 6/15/23 1,012,500
JPY 168,000,000 Softbank Corp., BB
1.50%, 3/31/13 (Japan) 1,619,130
$ 1,000,000 Virgin Media, Inc., B-
6.50%, 11/15/16, (a)(d) 451,250
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4,386,893
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TOTAL CONVERTIBLE BONDS - 49.6%
(Cost $69,308,219) 68,899,478
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NUMBER OF SHARES VALUE
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CONVERTIBLE PREFERRED STOCKS -- 17.6%
ADVERTISING - 1.0%
$ 125,925 Elf Special Financing Ltd./Interpublic Group of Companies, Inc., B+
2.34625%, 6/15/09 (a)(d)(h) 1,362,900
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BANKS -- 3.3%
2,235 Bank of America Corp., Ser. L, 7.25%, 2049 (a)(e) 1,127,557
85,985 Citigroup, Inc., Ser. T, 6.50%, 2049 (a)(e) 1,311,271
14,000 Keycorp, Ser. A, 7.75%, 2049 (a)(e) 920,920
2,000 Wells Fargo & Co., Ser. L, 7.5%, 2049 (a)(e) 1,274,000
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4,633,748
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DIVERSIFIED FINANCIAL SERVICES -- 1.9%
4,405 SLM Corp., Ser. C, 7.25%, 2010 (a) 2,628,684
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ELECTRIC - 2.5%
44,100 Entergy Corp., 7.625%, 2009 (a) 2,143,701
6,000 NRG Energy, Inc. 5.75%, 2009 (a) 1,290,000
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3,433,701
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HOUSEHOLD PRODUCTS/WARES-- 1.2%
60,000 Avery Dennison Corp., 7.875%, 2020 1,740,000
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MINING - 2.2%
30,000 Freeport-McMoran Copper & Gold, Inc., 6.75%, 2010 (a) 1,398,000
55,450 Vale Capital Ltd., Ser. RIO, 5.5%, 2010 (Brazil) (i) 1,727,267
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3,125,267
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PHARMACEUTICALS -- 4.7%
5,570 Mylan, Inc., 6.50%, 2010 (a) 3,733,961
16,000 Schering-Plough Corp., 6.00%, 2010 (a)(c ) 2,784,160
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6,518,121
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TELECOMMUNICATIONS-- 0.8%
3,574 Lucent Technologies Capital Trust I, 7.75%, 2017 1,072,200
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TOTAL CONVERTIBLE PREFERRED STOCKS - 17.6%
(Cost $34,288,807) 24,514,621
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PRINCIPAL AMOUNT VALUE
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CORPORATE BONDS -- 13.3%
DIVERSIFIED FINANCIAL SERVICES - 7.4%
$ 10,237,501 Dow Jones CDX North America High Yield, Ser. 3-4, NR
10.50%, 12/29/09 (d) 10,339,876
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HEALTHCARE-SERVICES -- 0.4%
$ 500,000 HCA, Inc., BB-
9.25%, 11/15/16 477,500
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HOLDING COMPANIES - DIVERSIFIED -- 0.6%
$ 1,000,000 Leucadia National Corp., BB+
8.125%, 9/15/15 810,000
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OIL AND GAS SERVICES -- 1.8%
$ 3,000,000 CCS, Inc., B-
11.00%, 11/15/15 (Canada) (d) 2,100,000
$ 750,000 Forbes Energy Services, Ltd., B
11.00%, 2/15/15 (Bermuda) 450,000
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2,550,000
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PHARMACEUTICALS - 1.1%
$ 1,665,000 Axcan Intermediate Holdings, Inc., B
12.75%, 3/1/16 1,498,500
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SEMICONDUCTORS -- 0.7%
$ 1,700,000 Amkor Technology, Inc., B+
9.25%, 6/1/16 943,500
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TELECOMMUNICATIONS - 1.3%
$ 750,000 Fairpoint Communications, Inc., B+
13.125%, 4/1/18 (d) 420,000
$ 1,500,000 Intelsat Jackson Holdings Ltd., CCC+
11.25%, 6/15/16 (Bermuda) 1,434,375
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1,854,375
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TOTAL CORPORATE BONDS --13.3%
(Cost $20,771,105) 18,473,751
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NUMBER OF SHARES VALUE
-----------------------------------------------------------------------------------------------------------------------
COMMON STOCKS -- 9.5%
AGRICULTURE-- 1.5%
35,000 Lorillard, Inc. (a) 2,081,100
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BIOTECHNOLOGY - 0.7%
15,000 Genzyme Corp. (a)(b) 1,033,800
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CHEMICALS -- 0.4%
1,000,000 Sinofert Holdings Ltd. (Bermuda) 575,139
-------------
ELECTRONICS - 0.3%
20,000 Avnet, Inc. (a)(b) 396,400
-------------
HEALTHCARE - PRODUCTS -- 0.9%
100,000 Hologic, Inc. (a)(b) 1,179,000
-------------
LEISURE TIME - 0.1%
10,000 Carnival Corp. (Panama) (a) 181,900
-------------
OIL & GAS - 1.5%
85,000 Advantage Energy Income Fund (Income Trust) (Canada) 359,550
40,000 Bonavista Energy Trust (Income Trust) (Canada) 580,715
30,000 Chesapeake Energy Corp. (a) 474,300
35,000 Enerplus Resources Fund (Income Trust) (Canada) 718,151
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2,132,716
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PHARMACEUTICALS -- 2.0%
60,000 Isis Pharmaceuticals, Inc. (a)(b) 847,800
14,000 Roche Holding AG (Switzerland) (a) 1,970,880
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2,818,680
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RETAIL -- 1.1%
60,000 GameStop Corp., Class A (a)(b) 1,486,800
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SEMICONDUCTORS - 0.5%
40,000 ASML Holding NV (a) 661,600
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TELECOMMUNICATIONS -- 0.5%
40,000 Amdocs Ltd. (Guernsey) (a)(b) 676,800
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TOTAL COMMON STOCKS - 9.5%
(Cost $19,705,611) 13,223,935
-------------
EXCHANGE TRADED FUNDS - 1.4%
15,000 iShares MSCI EAFE Index Fund (a) 580,500
15,000 ProShares Ultra Dow30 (a) 395,850
45,000 ProShares Ultra S&P500 (a) 985,950
(Cost $2,014,469) -------------
1,962,300
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TOTAL LONG-TERM INVESTMENTS - 91.4% 127,074,085
(Cost $146,088,211) -------------
CONTRACTS
(100 SHARES EXPIRATION EXERCISE
PER CONTRACT) OPTIONS PURCHASED(b) DATE PRICE VALUE
-----------------------------------------------------------------------------------------------------------------------
CALL OPTIONS PURCHASED -- 0.0%
350 Exxon Mobil Corp. (a) February 2009 $ 90.00 $ 1,750
250 Darden Restaurants, Inc. (a) April 2009 45.00 2,500
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4,250
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PUT OPTIONS PURCHASED -- 0.1%
100 CARBO Ceramics, Inc. March 2009 35.00 28,750
500 Citigroup, Inc. February 2009 3.00 17,500
250 Darden Restaurants, Inc. April 2009 22.50 46,250
350 Exxon Mobil Corp. February 2009 75.00 68,950
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161,450
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TOTAL OPTIONS PURCHASED - 0.1%
(Cost $268,188) 165,700
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TOTAL INVESTMENTS -- 91.5%
(Cost $146,356,399) 127,239,785
Other assets in excess of liabilities - 8.8% 12,176,985
Total Options Written (Premiums received $619,426) - (0.3%) (449,858)
-------------
NET ASSETS - 100.0% $ 138,966,912
=============
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AG - Stock Corporation
LLC - Limited Liability Corp.
Ltd. - Limited
PLC - Public Limited Company
(a) All or a portion of this security position represents cover (directly
or through conversion rights) for outstanding options written.
(b) Non-income producing security.
(c) All or a portion of these securities with an aggregate market value of
$2,088,120 have been physically segregated to collateralize written
call options.
(d) 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 January 31, 2009, these securities amounted to 13.4% of net assets.
(e) Security is convertible until December 31, 2049.
(f) Zero-coupon bond.
(g) Security is a "step up" bond where the coupon increases or steps up at
a predetermined date.
(h) Variable rate or floating rate security. The rate shown is as of
January 31, 2009.
(i) Synthetic Convertible - A synthetic convertible security is either a
bond or preferred security structured by an investment bank that
provides exposure to a specific company's common stock.
Ratings shown are per Standard & Poor's and are unaudited. Securities classified
as NR are not rated by Standard & Poors.
Country Breakdown*
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United States 73.6%
Switzerland 4.2%
Canada 3.6%
Cayman Islands 3.1%
Netherlands 2.8%
Bermuda 2.8%
Jersey 2.8%
Panama 2.2%
Brazil 1.4%
Japan 1.3%
United Kingdom 1.0%
Netherlands Antilles 0.6%
Guernsey 0.5%
Singapore 0.1%
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* As a percentage of total investments. Subject to change daily.
See previously submitted notes to the financial statements for the period ending
October 31, 2008.
ADVENT/CLAYMORE ENHANCED GROWTH & INCOME FUND
CONTRACTS
(100 SHARES EXPIRATION EXERCISE
PER CONTRACT) CALL OPTIONS WRITTEN(a) DATE PRICE VALUE
--------------------------------------------------------------------------------------------------------
50 Akamai Technologies, Inc. February 2009 $ 17.50 $ 500
50 Akamai Technologies, Inc. March 2009 15.00 4,250
50 Alliant Techsystems, Inc. February 2009 90.00 750
50 Alliant Techsystems, Inc. February 2009 95.00 750
100 Amdocs Ltd. February 2009 20.00 500
100 Amdocs Ltd. February 2009 17.50 5,000
25 Apogent Technologies, Inc. February 2009 40.00 750
50 Archer-Daniels-Midland Co. February 2009 30.00 2,750
100 ASML Holding NV February 2009 20.00 1,000
50 ASML Holding NV February 2009 17.50 2,250
50 ASML Holding NV March 2009 17.50 4,625
100 Avnet, Inc. February 2009 20.00 7,500
100 Avnet, Inc. February 2009 17.50 25,000
152 Bank of America Corp. February 2009 9.00 3,952
100 Bayer Capital Corp. BV February 2009 46.00 2,691
50 Beckman Coulter, Inc. February 2009 50.00 6,500
100 CA, Inc. February 2009 20.00 1,000
100 Carnival Corp. February 2009 27.50 500
50 Carrizo Oil & Gas, Inc. March 2009 17.50 3,750
50 Chesapeake Energy Corp. February 2009 17.50 3,500
100 Chesapeake Energy Corp. March 2009 20.00 5,500
50 Citigroup, Inc. February 2009 8.00 100
75 Core Laboratories LP February 2009 80.00 6,000
75 Danaher Corp. February 2009 60.00 3,750
250 Darden Restaurants, Inc. April 2009 30.00 40,000
25 DST Systems, Inc. February 2009 40.00 125
10 Elf Special Financing Ltd./Interpublic March 2009 5.00 150
Group of Companies, Inc.
47 EMC Corp. March 2009 12.00 2,068
50 Entergy Corp. February 2009 85.00 1,550
350 Exxon Mobil Corp. February 2009 80.00 34,650
100 Freeport-McMoRan Copper & Gold, Inc. February 2009 30.00 4,600
200 GameStop Corp., Class A February 2009 25.00 32,000
100 GameStop Corp., Class A February 2009 30.00 2,000
200 GameStop Corp., Class A March 2009 30.00 19,000
25 Genzyme Corp. February 2009 72.50 2,525
50 Genzyme Corp. February 2009 70.00 11,550
300 Hologic, Inc. February 2009 15.00 3,000
25 Hospitality Properties Trust February 2009 15.00 1,875
25 Host Hotels & Resorts LP February 2009 7.50 250
50 iShares MSCI EAFE Index Fund February 2009 41.00 3,000
150 Isis Pharmaceuticals, Inc. February 2009 15.00 7,500
150 Isis Pharmaceuticals, Inc. March 2009 15.00 13,500
25 Keycorp March 2009 10.00 750
75 Laboratory Corp. of America Holdings March 2009 65.00 4,312
75 Life Technologies Corp. February 2009 30.00 1,875
50 Linear Technology Corp. February 2009 25.00 1,500
50 Lonza Finance Ltd. March 2009 115.00 6,462
150 Lorillard, Inc. February 2009 60.00 32,250
50 Lorillard, Inc. February 2009 65.00 3,000
100 Massey Energy Co. February 2009 17.50 5,500
25 Molson Coors Brewing Co. February 2009 50.00 125
100 Mylan, Inc. March 2009 12.50 5,000
50 NASDAQ OMX Group, Inc. (The) February 2009 25.00 2,050
100 NRG Energy, Inc. February 2009 25.00 6,000
10 ON Semiconductor Corp. April 2009 5.00 450
50 Placer Dome, Inc./Barrick Gold Corp. February 2009 42.50 3,550
50 PNC Financial Services Group, Inc. February 2009 45.00 1,000
50 ProShares Ultra Dow30 February 2009 30.00 2,250
50 ProShares Ultra S&P500 February 2009 25.00 2,750
100 Prudential Financial, Inc. February 2009 35.00 7,000
20 Reckson Operating Partnership LP/SL February 2009 20.00 1,200
Green Realty Corp.
100 Roche Holding AG February 2009 180.00 4,222
50 Schering-Plough Corp. February 2009 20.00 750
200 Schering-Plough Corp. March 2009 20.00 8,000
5 Shire PLC March 2009 1,100.00 1,838
80 SLM Corp. March 2009 15.00 2,400
100 SLM Corp. April 2009 12.50 15,500
25 Symantec Corp. March 2009 17.50 1,000
50 Teva Pharmaceutical Finance LLC February 2009 45.00 750
100 Transocean, Inc. February 2009 60.00 11,500
50 Transocean, Inc. March 2009 65.00 7,250
10 UDR, Inc. March 2009 12.50 900
75 United Therapeutics Corp. February 2009 70.00 11,813
100 Vale Capital Ltd., Ser. RIO February 2009 14.00 11,300
100 Vale Capital Ltd., Ser. RIO March 2009 15.00 11,500
10 Virgin Media, Inc. February 2009 5.00 350
50 Wells Fargo & Co. February 2009 24.00 1,550
--------
TOTAL VALUE OF CALL OPTIONS WRITTEN
(Premiums received $619,426) $449,858
--------
(a) Non-income producing security.
CREDIT DEFAULT SWAPS AGREEMENTS
NOTIONAL UNREALIZED
BUY/SELL TERMINATION AMOUNT PAYING APPRECIATION
COUNTERPARTY REFERENCE ENTITY PROTECTION DATE (000) FIXED RATE (DEPRECIATION)
----------------------------------------------------------------------------------------------------------------------
Citigroup Darden Restaurants, Inc. Buy 3/20/2014 $ (1,500) 2.95% (13,314)
Citigroup Kohl's Corp. Buy 3/20/2014 (1,000) 2.60% (4,521)
Citigroup Nabors Industries Buy 3/20/2014 (1,000) 4.00% (28,567)
Credit Suisse First Boston Cardinal Health, Inc. Buy 12/20/2013 (1,000) 1.05% (19,893)
Credit Suisse First Boston Darden Restaurants, Inc. Buy 3/20/2014 (3,000) 3.00% (56,849)
Credit Suisse First Boston Republic of Italy Buy 3/20/2014 (2,000) 1.78% (14,896)
Credit Suisse First Boston LVMH Moet Hennessy Buy 3/20/2014 (1,500) 1.45% 10,316
Louis Vuitton
Credit Suisse First Boston Kingdom of Spain Buy 3/20/2014 (2,000) 1.35% 633
Credit Suisse First Boston Renault Buy 3/20/2014 (1,500) 3.60% 2,986
-----------
$ (124,105)
===========
* For each swap noted, the Fund pays the fixed rate.
FORWARD EXCHANGE CURRENCY CONTRACTS
UNREALIZED
APPRECIATION/
SHORT CONTRACTS CURRENT VALUE (DEPRECIATION)
----------------------------------------------------------------------------------------------------------------------
Canadian Dollar, 1,100,000 expiring 3/18/09 $ 886,846 $ (5,718)
Euro, 500,000 expiring 3/18/09 640,359 27,741
Japanese Yen, 116,800,000 expiring 3/18/09 1,301,578 (24,238)
Pound Sterling, 890,796 expiring 2/3/09 to 3/18/09 1,284,064 2,876
Swiss Franc, 1,000,000 expiring 3/18/09 862,042 (9,454)
--------
Total unrealized appreciation/depreciation for forward exchange currency contracts $ (8,793)
--------
In September, 2006, the FASB issued Statement of Financial Accounting Standards
No. 157, "Fair Valuation Measurements" ("FAS 157"). This standard clarifies the
definition of fair value for financial reporting, establishes a framework for
measuring fair value and requires additional disclosures about the use of fair
value measurements. FAS 157 establishes three different categories for
valuations. Level 1 valuations are those based upon quoted prices in active
markets. Level 2 valuations are those based upon quoted prices in inactive
markets or based upon significant observable inputs (i.e. yield curves;
benchmark interest rates; indices). Level 3 valuations are those based upon
unobservable inputs (i.e. discounted cash flow analysis; non-market based
methods used to determine fair valuation).
Valuations at January 31, 2009
Description Securities Derivatives Total
---------- ----------- ---------
(value in $000s)
Assets:
Level 1 $ 39,701 $ 166 $ 39,867
Level 2 87,373 45 87,418
Level 3 - - -
--------- --------- ---------
Total $ 127,074 $ 210 $ 127,284
========= ========= =========
Liabilities:
Level 1 $ - $ 450 $ 450
Level 2 - 177 177
Level 3 - - -
--------- --------- ---------
Total $ - $ 628 $ 627
========= ========= =========
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive officer and principal financial
officer have evaluated the registrant's disclosure controls and
procedures (as defined in Rule 30a-3(c) under the Investment Company
Act of 1940, as amended) as of a date within 90 days of the filing date
of this report and have concluded based on such evaluation, that the
registrant's disclosure controls and procedures were effective, as of
that date, in ensuring that information required to be disclosed by the
registrant on this Form N-Q was recorded, processed, summarized and
reported within the time periods specified in the Securities and
Exchange Commission's rules and forms.
(b) There was no change in the registrant's internal controls over
financial reporting (as defined in Rule 30a-3(d) under the Investment
Company Act of 1940, as amended) that occurred during the registrant's
last fiscal quarter that has materially affected or is reasonably
likely to materially affect the registrant's internal control over
financial reporting.
ITEM 3. EXHIBITS.
A separate certification for each principal executive officer and principal
financial officer of the registrant as required by Rule 30a-2(a) under the
Investment Company Act of 1940, as amended (17 CFR 270.30a-2(a)), Is attached
hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Advent/Claymore Enhanced Growth & Income Fund
By: /s/ Tracy V. Maitland
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Tracy V. Maitland
President and Chief Executive Officer
Date: March 27, 2009
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By: /s/ Tracy V. Maitland
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Tracy V. Maitland
President and Chief Executive Officer
Date: March 27, 2009
By: /s/ Robert White
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Robert White
Treasurer and Chief Financial Officer
Date: March 27, 2009