Michael Smart - Advent Claymore Independent Trustee

AVK Fund  USD 12.18  0.02  0.16%   
Michael Smart is Fund Manager at Advent Claymore Convertible
Mr. Michael A. Smart is Independent Trustee of the Company. He is Managing Partner, Cordova, Smart Williams LLC . Formerly, Principal, First Atlantic Capital Ltd., . Formerly, a Managing Director in Investment BankingThe Private Equity Group and a Vice President in Investment BankingCorporationrate Finance at Merrill Lynch Co. Founding Partner of The Carpediem Group, a private placement firm . Former Associate at Dillon, Read and Co. and Chairman, Board of Directors, Berkshire Blanket, Inc. President and Chairman, Board of Directors, Sqwincher Holdings Board of Directors, Sprint Industrial Holdings Board of Directors, National Association of Investment Companies
Age 59
Phone212-482-1600
Webhttps://www.guggenheimfunds.com/cef/fund/avk
Smart’s service as a Trustee of each Trust, and as a board member, managing partner and employee of various financial and operating companies provides him with experience in financial, accounting, regulatory, governance, investment banking, private equity and investment matters.

Advent Claymore Management Performance (%)

The company has Return on Asset of 1.09 % which means that on every $100 spent on assets, it made $1.09 of profit. This is way below average. In the same way, it shows a return on shareholders' equity (ROE) of (15.74) %, meaning that it generated no profit with money invested by stockholders. Advent Claymore's management efficiency ratios could be used to measure how well Advent Claymore manages its routine affairs as well as how well it operates its assets and liabilities.
Advent Claymore Convertible has 349.02 M in debt with debt to equity (D/E) ratio of 0.68, which is OK given its current industry classification. Advent Claymore Conv has a current ratio of 0.13, suggesting that it has not enough short term capital to pay financial commitments when the payables are due. Debt can assist Advent Claymore until it has trouble settling it off, either with new capital or with free cash flow. So, Advent Claymore's shareholders could walk away with nothing if the company can't fulfill its legal obligations to repay debt. However, a more frequent occurrence is when companies like Advent Claymore Conv sell additional shares at bargain prices, diluting existing shareholders. Debt, in this case, can be an excellent and much better tool for Advent to invest in growth at high rates of return. When we think about Advent Claymore's use of debt, we should always consider it together with cash and equity.

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Advent Claymore Convertible Securities and Income Fund is a closed-ended fixed income mutual fund launched and managed by Advent Capital Management, LLC. Advent Claymore Convertible Securities and Income Fund was formed on April 29, 2003 and is domiciled in the United States. Advent Claymore operates under Asset Management classification in the United States and is traded on New York Stock Exchange. The fund is not filed under any group at the present time.

Management Performance

Advent Claymore Conv Leadership Team

Elected by the shareholders, the Advent Claymore's board of directors comprises two types of representatives: Advent Claymore inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Advent. The board's role is to monitor Advent Claymore's management team and ensure that shareholders' interests are well served. Advent Claymore's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Advent Claymore's outside directors are responsible for providing unbiased perspectives on the board's policies.
Edward Delk, Chief Compliance Officer, Secretary
Daniel Black, Lead Independent Trustee
Michael Smart, Independent Trustee
Tony Huang, Vice President Assistant Secretary
Robert White, Chief Financial Officer, Treasurer
Gerald Seizert, Independent Trustee
Tracy Maitland, Chairman of the Board of Trustees, President, Chief Executive Officer
Randall Barnes, Independent Trustee
Nancy Stuebe, Independent Trustee
Derek Medina, Independent Trustee
Ronald Nyberg, Independent Trustee

Advent Fund Performance Indicators

The ability to make a profit is the ultimate goal of any investor. But to identify the right fund is not an easy task. Is Advent Claymore a good investment? Although profit is still the single most important financial element of any organization, multiple performance indicators can help investors identify the equity that they will appreciate over time.

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Other Information on Investing in Advent Fund

Advent Claymore financial ratios help investors to determine whether Advent Fund is cheap or expensive when compared to a particular measure, such as profits or enterprise value. In other words, they help investors to determine the cost of investment in Advent with respect to the benefits of owning Advent Claymore security.
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