<SEC-DOCUMENT>0000891804-20-000015.txt : 20200102
<SEC-HEADER>0000891804-20-000015.hdr.sgml : 20200102
<ACCEPTANCE-DATETIME>20200102144957
ACCESSION NUMBER:		0000891804-20-000015
CONFORMED SUBMISSION TYPE:	N-CSR
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20191031
FILED AS OF DATE:		20200102
DATE AS OF CHANGE:		20200102
EFFECTIVENESS DATE:		20200102

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADVENT CONVERTIBLE & INCOME FUND
		CENTRAL INDEX KEY:			0001219120
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CSR
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-21309
		FILM NUMBER:		20501229

	BUSINESS ADDRESS:	
		STREET 1:		227 W. MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-827-0100

	MAIL ADDRESS:	
		STREET 1:		227 W. MONROE STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ADVENT CLAYMORE CONVERTIBLE SECURITIES & INCOME FUND
		DATE OF NAME CHANGE:	20030219
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSR
<SEQUENCE>1
<FILENAME>gug78704-ncsr.htm
<DESCRIPTION>AVK
<TEXT>
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    <div style="text-align: center; margin-bottom: 12pt;">UNITED STATES<br>
      SECURITIES AND EXCHANGE COMMISSION<br>
      Washington, D.C. 20549</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">FORM N-CSR</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES</div>
    <div style="text-align: center; margin-bottom: 12pt;">Investment Company Act file number <u>811-21309</u></div>
    <div style="text-align: center;"><u>Advent Convertible and Income Fund</u><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"><u>1</u></sup><br>
      (Exact name of registrant as specified in charter)</div>
    <div style="text-align: center;"><br>
      <br>
      <u>888 Seventh Ave, 31st Floor, New York, NY 10019</u><br>
      (Address of principal executive offices) (Zip code)</div>
    <div><br>
    </div>
    <div style="text-align: center;">Robert White, Treasurer</div>
    <div style="text-align: center; margin-bottom: 12pt;"><u>888 Seventh Ave, 31st Floor, New York, NY 10019</u><br>
      (Name and address of agent for service)</div>
    <div style="text-align: center; margin-bottom: 12pt;">Registrant&#8217;s telephone number, including area code: <u>(212) 482-1600</u></div>
    <div style="text-align: center; margin-bottom: 12pt;">Date of fiscal year end: <u>October 31</u></div>
    <div style="text-align: center; margin-bottom: 12pt;">Date of reporting period: <u>November 1, 2018 - October 31, 2019</u></div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="margin-bottom: 12pt;"><br>
      <br>
      <hr noshade="noshade" align="left" style="background-color: #000000; border: 0px; height: 1px; width: 2in; margin-left: 0pt; margin-right: auto; color: #000000;">
      <div style="margin-bottom: 12pt;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> Effective July 1, 2019 the Registrant&#8217;s name changed from Advent Claymore Convertible Securities and Income Fund to Advent Convertible and Income Fund</div>
    </div>
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    <div style="margin-bottom: 12pt; font-weight: bold;">Item 1.&#160; Reports to Stockholders.</div>
    <div style="margin-bottom: 12pt;">The registrant&#8217;s annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the &#8220;Investment Company Act&#8221;), is as follows: <br>
    </div>
    <div style="margin-bottom: 12pt;"> <font style="font-family: Arial;"></font><img src="cover.jpg">
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      <div>&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-size: 18pt;">GUGGENHEIMINVESTMENTS.COM/AVK</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-size: 14pt;">...YOUR BRIDGE TO THE LATEST, MOST UP-TO-DATE INFORMATION ABOUT THE ADVENT</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-size: 14pt;">CONVERTIBLE AND INCOME FUND</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The shareholder report you are reading right now is just the beginning of the story.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Online at <font style="font-weight: bold;">guggenheiminvestments.com/avk</font>, you will find:</div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z9876d1ab7a904448b6eac804ea87e589" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top; font-family: Arial;">
                <div>Daily, weekly and monthly data on share prices, net asset values, dividends and more</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z0ec4165779c94d78a0141271327a9e89" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top; font-family: Arial;">
                <div>Portfolio overviews and performance analyses</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z036523d0c12946e4a3be3d360fc320c8" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <div style="margin-left: 18pt;">&#8226;</div>
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                <div>Announcements, press releases and special notices</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="zb03e4258659e49d191e975c50a38bc3c" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top; font-family: Arial;">
                <div>Fund and adviser contact information</div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent Capital Management and Guggenheim Investments are continually updating and expanding shareholder information services on the Fund&#8217;s website in an ongoing effort to provide
        you with the most current information about how your Fund&#8217;s assets are managed and the results of our efforts. It is just one more small way we are working to keep you better informed about your investment in the Fund.</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="za16441484cba4bafb002e9bf149e2e36" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 50.49%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">(Unaudited)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 49.51%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">DEAR SHAREHOLDER</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;"><img src="maitland1.jpg"></font></div>
        <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;">Tracy V. Maitland</font><font style="font-family: Arial;"><br>
          </font><font style="font-family: Arial; font-style: italic;">President and Chief Executive Officer</font></div>
        We thank you for your investment in the Advent Convertible and Income Fund (the &#8220;Fund&#8221; or &#8220;AVK&#8221;) (formerly known as Advent Claymore Convertible Securities and Income Fund). This report covers the Fund&#8217;s performance for the 12 months ended
        October&#160;31, 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent Capital Management, LLC (&#8220;Advent&#8221; or the &#8220;Investment Adviser&#8221;) serves as the Fund&#8217;s Investment Adviser. Based in New York, New York, with additional investment personnel
        in London, England, Advent is a credit-oriented firm specializing in the management of global convertible, high-yield and equity securities across three lines of business&#8212;long-only strategies, hedge funds and closed-end funds. As of October 31,
        2019, Advent managed approximately $9.4 billion in assets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Guggenheim Funds Distributors, LLC (the &#8220;Servicing Agent&#8221;) serves as the servicing agent to the Fund. The Servicing Agent is an affiliate of Guggenheim Partners, LLC, a global
        diversified financial services firm.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund&#8217;s investment objective is to provide total return through a combination of capital appreciation and current income. Under normal market conditions, the Fund invests at
        least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income securities. Under normal market conditions, the Fund will invest at least 30% of its managed assets in convertible securities and may
        invest up to 70% of its managed assets in non-convertible income securities. The Fund may invest without limitation in foreign securities. The Fund also uses a strategy of writing (selling) covered call options on up to 25% of the securities held
        in the portfolio, thus generating option writing premiums.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">All AVK returns cited&#8212;whether based on net asset value (&#8220;NAV&#8221;) or market price&#8212;assume the reinvestment of all distributions. For the 12-month period ended October 31, 2019, the
        Fund generated a total return based on market price of 17.01% and a total return of 9.94% based on NAV. As of October 31, 2019, the Fund&#8217;s market price of $14.79 represented a discount of 9.49% to NAV of $16.34.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Past performance is not a guarantee of future results. All NAV returns include the deduction of management fees, operating expenses, and all other Fund expenses. The market price
        of the Fund&#8217;s shares fluctuates from time to time, and may be higher or lower than the Fund&#8217;s NAV.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND
        INCOME FUND ANNUAL REPORT l 3</div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
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              <div><font style="font-family: Arial; font-weight: bold;">DEAR SHAREHOLDER (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 30.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund paid a distribution each month of the annual period. The most recent monthly distribution, $0.1172, represents an annualized distribution rate of 9.51% based upon the
        last closing market price of $14.79 on October 31, 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">There is no guarantee of any future distribution or that the current returns and distribution rate will be maintained. The Fund&#8217;s distribution rate is not constant and the amount
        of distributions, when declared by the Fund&#8217;s Board of Trustees, is subject to change based on the performance of the Fund. Please see the Questions and Answers on page 5 for more information on distributions for the period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">We encourage shareholders to consider the opportunity to reinvest their distributions from the Fund through the Dividend Reinvestment Plan (&#8220;DRIP&#8221;), which is described in detail
        on page 71 of this report. When shares trade at a discount to NAV, the DRIP takes advantage of the discount by reinvesting the monthly dividend distribution in common shares of the Fund purchased in the market at a price less than NAV. Conversely,
        when the market price of the Fund&#8217;s common shares is at a premium above NAV, the DRIP reinvests participants&#8217; dividends in newly issued common shares at the greater of NAV per share or 95% of the market price per share. The DRIP provides a
        cost-effective means to accumulate additional shares and enjoy the benefits of compounding returns over time.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund is managed by a team of experienced and seasoned professionals led by myself in my capacity as Chief Investment Officer (as well as President and Founder) of Advent
        Capital Management, LLC. We encourage you to read the following Questions &amp; Answers section, which provides additional information regarding the factors that influenced the Fund&#8217;s performance.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">We thank you for your investment in the Fund and we are honored that you have chosen the Advent Convertible and Income Fund as part of your investment portfolio. For the most
        up-to-date information regarding your investment, including related investment risks, please visit the Fund&#8217;s website at guggenheiminvestments.com/avk.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Sincerely,</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial;"><img src="maitland2.jpg"></font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial;">Tracy V. Maitland</font><font style="font-family: Arial;"><br>
        </font><font style="font-family: Arial; font-style: italic;">President and Chief Executive Officer of the</font><font style="font-family: Arial; font-style: italic;"><br>
        </font><font style="font-family: Arial; font-style: italic;">Advent Convertible and Income Fund</font><font style="font-family: Arial;"><br>
        </font><font style="font-family: Arial;">November 30, 2019</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">4 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
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      <div style="font-family: Arial;"><br>
      </div>
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              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 33.35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">The individuals who are primarily responsible for the day-to-day management of portfolio (the &#8220;Portfolio Managers&#8221;) of Advent Convertible and Income Fund (the
        &#8220;Fund&#8221; or &#8220;AVK&#8221;) include Tracy Maitland (President and Chief Investment Officer of Advent), Paul Latronica (Managing Director of Advent) and Tony Huang (Director of Advent). Mr. Maitland and Mr. Latronica are portfolio managers and Mr. Huang is an
        associate portfolio manager. The Portfolio Managers are supported by teams of investment professionals who make investment decisions for the Fund&#8217;s core portfolios of convertible bonds, the Fund&#8217;s high yield securities investments and the Fund&#8217;s
        leverage allocation, respectively. In the following interview, the management team discusses the convertible securities and high yield markets and Fund performance for the 12-month period ended October 31, 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Please describe the Fund&#8217;s objective and management strategies.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund&#8217;s investment objective is to provide total return through a combination of capital appreciation and current income. Under normal market conditions, the Fund invests at
        least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income producing securities. Under normal market conditions, the Fund must invest at least 30% of its managed assets in convertible securities
        and may invest up to 70% of its managed assets in nonconvertible income securities. The Fund may invest without limitation in foreign securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund also uses a strategy of writing (selling) covered call options on up to 25% of the securities held in the portfolio. The objective of this strategy is to generate
        current gains from option premiums to enhance distributions payable to the holders of common shares. In addition, the Fund may invest in other derivatives, such as put options, forward foreign currency exchange contracts, futures contracts, and
        swaps.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund uses financial leverage to finance the purchase of additional securities. Although financial leverage may create an opportunity for increased return for shareholders, it
        also results in additional risks and can magnify the effect of any losses. There is no assurance that the strategy will be successful. If income and gains earned on securities purchased with the financial leverage proceeds are greater than the cost
        of the financial leverage, shareholders&#8217; return will be greater than if financial leverage had not been used. Conversely, if the income or gains from the securities purchased with the proceeds of financial leverage are less than the cost of the
        financial leverage, shareholders&#8217; return will be less than if financial leverage had not been used.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Discuss Advent&#8217;s investment approach.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent&#8217;s approach involves core portfolios of convertible bonds that are managed, subject to the Fund&#8217;s investment policies and restrictions, in a manner similar to that of
        Advent&#8217;s Balanced Convertible Strategy and Global Balanced Convertible Strategy, which seek high total returns by investing in a portfolio of U.S.-dollar convertible securities and global convertible securities, respectively, that provide
        equity-like returns while seeking to limit downside risk.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND
        INCOME FUND ANNUAL REPORT l 5</div>
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      </div>
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          <tr>
            <td style="width: 72.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">These core portfolios are supplemented by investments in high yield securities selected in a manner similar to that of Advent&#8217;s High Yield Strategy, which seeks income and total
        return by investing primarily in high yielding corporate credit using fundamental and relative value analysis to identify undervalued securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent uses a separate portion of the Fund&#8217;s portfolio to increase or decrease relative overall exposure to convertible securities, high yield securities, and equities. This
        portion of the Fund&#8217;s portfolio incorporates leverage and operates as an asset-allocation tool reflecting Advent&#8217;s conservative management philosophy and its views on the relative value of these three asset classes under changing market conditions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Please describe the economic and market environment over the last 12 months.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The end result of fiscal year 2019 was strong gains in the corporate bond and equity markets, but with significant periods of volatility, as in fiscal year 2018. Fiscal year 2019
        began with a meaningful correction in the last two months of calendar year 2018, as fears of global demand slowdown began to take hold. Adding to this was the last U.S. Federal Reserve (the &#8220;Fed&#8221;) rate tightening in December, which markets began to
        fear as a policy mistake. Equity markets corrected and corporate bond spreads widened as major economic data began decelerating. Yield curves continued a multi-quarter trend of flattening, as longer-maturity instruments reflected economic slowdown
        more quickly than front-end bonds more sensitive to monetary policy.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">However, reaction to the global slowing by the Fed was fairly swift, with a declaration early in the year that the target Federal Open Market Committee (&#8220;FOMC&#8221;) rate would not
        rise throughout 2019. As economic data continued to fade in the spring, sentiment inside and outside the Fed moved toward adopting a series of rate reductions as a necessity to ensure economic expansion. Helped by falling inflation, the FOMC
        instituted three reductions in the target rate to 1.50-1.75% as the fiscal year closed.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">As 2019 progressed, rate reductions led to powerful rallies in the equity markets, falling spreads in the corporate bond markets, and major reductions in risk-free rates, with
        the yield curves actually steepening as the fiscal year closed, after briefly inverting in the summer. While corporate profits stalled with slowing demand and difficult year-over-year comparisons after lapping the 2018 implementation of new
        corporate tax law, equity market valuations rose with the monetary stimulus amidst optimism of a soft landing and possible reacceleration in 2020.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In certain months in the spring and summer, trade negotiations introduced volatility into the markets as U.S.-China talks resulted in the escalation and expansion of tariffs and
        the goods to which they applied. As the fiscal year closed, trade diplomacy continued between the two nations, but with news reversing seemingly on a daily basis and uncertainty over extent of a first-phase agreement.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Optimism is plentiful about the next fiscal year as the lagged effect of both the Fed and European Central Bank monetary stimulus will be in full force. Corporate earnings could
        be poised to reaccelerate with recovery in cyclical sectors. The 2020 U.S. elections promise to provide much</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">6 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z048fa782448b4cb584fbf49f62b107b8" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72.72%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 27.28%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">uncertainty for investors to ponder, and populist protests and geopolitical strife around the world seem to be more common in recent months. However, the U.S. economy has proven
        to be resilient, helped by the lower interest rates and liquidity injections and the willingness of consumers to spend as employment remains strong.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">How did the Fund perform in this environment?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">All AVK returns cited&#8212;whether based on net asset value (&#8220;NAV&#8221;) or market price&#8212;assume the reinvestment of all distributions. For the 12-month period ended October 31, 2019, the
        Fund generated a total return based on market price of 17.01% and a total return of 9.94% based on NAV. As of October 31, 2019, the Fund&#8217;s market price of $14.79 represented a discount of 9.49% to NAV of $16.34. As of October 31, 2018, the Fund&#8217;s
        market price of $13.93 represented a discount of 14.01% to NAV of $16.20.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Past performance is not a guarantee of future results. All NAV returns include the deduction of management fees, operating expenses, and all other Fund expenses. The market price
        of the Fund&#8217;s shares fluctuates from time to time, and may be higher or lower than the Fund&#8217;s NAV.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">How did other markets perform in this environment for the 12-month period ended October 31, 2019?</div>
      <table cellspacing="0" cellpadding="0" id="zd5d4bd16f17046c68cbae186edf83cb4" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.76%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Index</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Total Return</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Bloomberg Barclays U.S. Aggregate Bond Index</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">11.51%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">ICE Bank of America (&#8220;BofA&#8221;) Merrill Lynch U.S. Convertible Index</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12.45%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">ICE BofA Merrill Lynch U.S. High Yield Index</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">8.32%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Standard &amp; Poor&#8217;s 500</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup>(&#8220;S&amp;P 500&#8221;) Index&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">14.32%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Thomson Reuters Convertible Global Focus USD Hedged Index</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6.89%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">MSCI World Index</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12.69%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">MSCI World 100% Hedged to USD Index</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">13.48%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">What contributed to performance?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The ratio of returns between convertibles and equities at 87% is unusual given that the delta, or percent sensitivity of index securities to their underlying equities, is between
        50-60%. However, the convertible market benefitted during the year from a higher exposure to the technology sector than the S&amp;P 500, a favorable interest-rate environment that helped bond pricing, and higher volatility that enhanced pricing of
        the embedded equity options.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Global convertibles to global equities (MSCI indices) had a reasonable 51% ratio.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In the U.S. high-yield corporate bond market, price gains from falling interest rates augmented the index&#8217;s strong coupon. This was a reversal from the previous fiscal year when
        Fed rate hikes reduced bond prices and offset the universe&#8217;s coupon income.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" style="height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); margin-left: auto; margin-right: auto; border: medium none;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL
        REPORT l 7</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z8c59da3a614d42bdbe0b8b590de4132c" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72.72%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 27.28%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 72.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Please discuss the Fund&#8217;s distributions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund paid a distribution each month of the annual period. The most recent monthly distribution, $0.1172, represents an annualized distribution rate of 9.51% based upon the
        last closing market price of $14.79 on October 31, 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund currently anticipates that some of the 2019 distributions will consist of income and some will be a return of capital. A final determination of the tax character of
        distributions paid by the Fund in 2019 will be reported to shareholders in January 2020 on form 1099-DIV.</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z4ac89a57082a45b0b0b0d2156f75f2f3" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 90%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 10%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">Payable Date</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">November 30, 2018</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">December 31, 2018</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">January 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">February 28, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">March 29, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">April 30, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">May 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">June 28, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">July 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">August 30, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">September 30, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$0.1172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 90%; vertical-align: bottom; background-color: rgb(204, 238, 255); padding-bottom: 4px;">
              <div><font style="font-family: Arial; font-weight: bold;">Total</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">$1.4064</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">There is no guarantee of any future distribution or that the current returns and distribution rate will be maintained. The Fund&#8217;s distribution rate is not constant and the amount
        of distributions, when declared by the Fund&#8217;s Board of Trustees, is subject to change based on the performance of the Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">While the Fund generally seeks to pay distributions that will consist primarily of investment company taxable income and net capital gain, because of the nature of the Fund&#8217;s
        investments and changes in market conditions from time to time, or in order to maintain a more stable distribution level over time, the distributions paid by the Fund for any particular period may be more or less than the amount of net investment
        income from that period. If the Fund&#8217;s total distributions in any year exceed the amount of its investment company taxable income and net capital gain for the year, any such excess would generally be characterized as a return of capital for U.S.
        federal income tax purposes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">A return of capital distribution is in effect a partial return of the amount a shareholder invested in the Fund. A return of capital does not necessarily reflect the Fund&#8217;s
        investment performance and should not be confused with &#8220;yield&#8221; or &#8220;income.&#8221; A return of capital distribution decreases the Fund&#8217;s total assets and, therefore, could have the effect of increasing the Fund&#8217;s expense ratio. Please see Note 2(g) on
        page 45 for more information on distributions for the period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">8 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
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              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">How has the Fund&#8217;s leverage strategy affected performance?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">As part of its investment strategy, the Fund utilizes leverage to finance the purchase of additional securities that provide increased income and potentially greater appreciation
        potential to common shareholders than could be achieved from a portfolio that is not leveraged.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund&#8217;s leverage outstanding as of October 31, 2019, consisted of $387 million in borrowings with a related average interest rate of 3.55% and was approximately 41% of the
        Fund&#8217;s total managed assets. During the fiscal year, leverage stayed relatively constant as the market value of the Fund&#8217;s equity appreciated at a rate similar to the Fund&#8217;s distribution ratio.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The NAV return for the Fund was above the cost of leverage for the 12 months. Although Advent looks at funds deployed from borrowings differently than funds which use the
        shareholder equity base, on this simple metric, the Fund&#8217;s leverage was beneficial to shareholders for the fiscal period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent continues to seek attractive and relatively lower-risk opportunities to invest borrowings that have very low cost compared to history and plans to continue taking
        advantage of the yield curve and interest rate environment for the benefit of shareholders.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">What was the impact of the Fund&#8217;s covered call strategy?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Volatility during the fiscal year 2019 increased from the low levels that prevailed in the prior year. The CBOE VIX Volatility Index, or &#8220;VIX&#8221; for its ticker, averaged 16.8, up
        from the average of 14.8 for fiscal 2018. The increase in volatility occurred almost entirely in the first quarter of the fiscal year as global economies slowed and the impact of the Fed&#8217;s rate increases weighed on equity sentiment. After the first
        quarter, the VIX averaged 15.1, levels close to that of the prior fiscal year as Fed rate reductions helped stabilize the domestic economy and money flows. The Fund reduced its equity allocations as markets appreciated late in the fiscal period and
        only made select call option sales given the calmer markets. When volatility is lower, the income generated from call option writing is less than at other times, making for a less favorable trade-off in deciding whether to cap upside participation
        in equities held.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">How were the Fund&#8217;s total investments allocated among asset classes during the 12 months ended October 31, 2019, and what did this mean for performance?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">On October 31, 2019, the Fund&#8217;s total investments were invested approximately 47.6% in convertible bonds, convertible preferred securities, and mandatory convertibles; 42.8% in
        corporate bonds; 5.2% in equities; 3.4% in cash and cash equivalents; and 1.0% in senior floating rate interests.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">On October 31, 2018, the Fund&#8217;s total investments were invested approximately 48.8% in convertible bonds, convertible preferred securities, and mandatory convertibles; 37.9% in
        corporate bonds; 9.1% in equities; 3.2% in cash and cash equivalents; and 1.0% in senior floating rate interests.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Asset class allocations were similar at the end of the prior fiscal year and the end of this fiscal year. The Fund did have a slightly higher allocation toward equities early in
        the period, sourced primarily from high-yield, as strong economic growth in the U.S. coupled with higher corporate profit growth</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
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        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 9</div>
      </div>
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              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
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              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">due partly to tax reform led to more opportunities for capital appreciation in the equity markets. Higher borrowing costs also led the asset allocation sleeve to invest more
        capital in higher-dividend equities and less in convertibles and BB high-yield securities, where spreads had become less attractive. As the fiscal year reached a close, the effect of the Fed&#8217;s rate reductions had made a powerful impact on equity
        valuations, all while corporate earnings growth had been roughly flat compared to 2018. As a result equity valuation multiples had risen and raised the downside risks. By fiscal year end, the Fund had reduced its equity position and boosted the
        allocation to high-yield.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">International investments were flat from 22.1% at October 2018 to 22.8% at October 2019. International economic growth struggled in 2019 as geopolitical events and trade tensions
        hurt demand for many of the cyclical industries in foreign developed markets which are common issuers of convertible securities. Purchasing manager indices decelerated throughout the fiscal year, and while foreign developed equity indices advanced
        in the fiscal year, it was not to the extent of the U.S. markets. Seeing more opportunities in U.S. issuers, especially as the Fed began reducing interest rates, the Fund did not increase its international securities allocation over the year.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Which investment decisions had the greatest effect on the Fund&#8217;s performance?</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">As discussed in the performance contributor section above, the Fund and convertible market continued to have strong performance thanks to exposure from technology sector issuers.
        The semiconductor industry began the fiscal year in its first cyclical downturn in three years as global economies began to slow, but the downturn proved short-lived, and a recovery has been assisted by Fed rate reductions catalyzing investment
        demand. Microchip Technology, a leading semiconductor maker and industry consolidator, benefitted from solid execution of its large Microsemi acquisition where synergies have resulted in over $1 billion of debt paydown since closure. Security
        software provider Rapid7 is experiencing an acceleration of revenue growth in the 2019 calendar year to above 30% as it enters the large security information and event management market and adds new verticals such as the federal government.
        Finally, within traditional convertible bonds, insulin device maker Insulet had a series of powerful quarterly earnings reports showing accelerated adoption of its DASH delivery system worldwide.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Although the convertible security universe tends to have lower maturities and duration than other fixed-income classes, two convertible preferred stocks issued by large banks
        Wells Fargo and Bank of America had strong returns for the Fund during the fiscal year given the price gains experienced by similar securities of long-maturity fixed-income bonds. Yields for the 30-year U.S. Treasury fell from 3.39% to 2.18% during
        the fiscal year, and these convertible preferred stocks are more sensitive to the rate environment than the equities. Lastly, high-yield bonds of office products retailer Staples had strong returns after the company chose to call the bonds as part
        of a refinancing. That call involved a valuable make-whole payment to holders of the remaining coupons and led to a substantial price gain.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Among detractors, convertibles in cloud networking hardware vendor Nutanix declined after the company struggled to perform an encore to its 30% growth in calendar year 2018, and
        experienced deceleration in its sales funnel. This, plus aggressive spending on new product initiatives, reversed</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">10 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
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      <table cellspacing="0" cellpadding="0" id="z3f2627cd614c4a81a122962d9d0de208" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 27.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">cash flow momentum, hurting profitability and the stock valuation. While fundamentals rebounded somewhat closing the Fund&#8217;s fiscal year, the Fund reduced the position given the
        cash flow direction and lack of delta participation in the bonds.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In energy, the Fund&#8217;s sleeves have generally been underweight versus benchmarks, but some individual holdings performed poorly in the context of an entire sector that depreciated
        during the fiscal year. Oil and natural gas prices struggled in fiscal 2019, with global demand waning with the worldwide economic slowdown and oil supply from U.S. producers offsetting production cuts from the Organization of Petroleum Exporting
        Countries. Convertibles and high-yield bonds held in Oasis Petroleum fell after the company experienced production shortfalls and was forced to raise capital spending, thereby pushing out reaching cash flow break-even. High-yield bonds of oil
        services provider Superior Energy also suffered as customers reduced capital spending. As of the end of the fiscal year, the Fund&#8217;s energy exposure remains modest at approximately 5% of total assets and weighted heavily toward straight bond
        holdings with little-to-no direct equity risk.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Stock holdings in retailer Macy&#8217;s declined as the company struggled with online competition and high inventories. The theory that Macy&#8217;s would benefit from the bankruptcy of
        competitor Sears did not play out as Macy&#8217;s inexpensive share valuation worsened. Convertibles in Chinese media provider iQIYI fell amidst macro uncertainty in China and lower advertising revenues along with negative sentiment related to trade
        uncertainty between China and the U.S. The company&#8217;s plans to monetize more users in mid-tier Chinese cities and to control content costs appear intact, and convertibles remain attractive from a yield and upside participation standpoint.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" style="height: 2px; color: rgb(0, 0, 0); background-color: rgb(0, 0, 0); margin-left: auto; margin-right: auto; border: medium none;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL
        REPORT l 11</div>
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              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
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              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Index Definitions</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following indices are referenced throughout this report. It is not possible to invest directly in an index. These indices are intended as measures of broad market returns.
        The Fund&#8217;s mandate differs materially from each of the individual indices. The Fund also maintains leverage and incurs transaction costs, advisory fees, and other expenses, while these indices do not.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Bloomberg Barclays U.S. Aggregate Bond Index </font><font style="font-family: Arial;">is a broad-based flagship benchmark that measures the
          investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including U.S. Treasuries, government-related and corporate securities, mortgage-backed securities or &#8220;MBS&#8221; (agency fixed-rate and hybrid adjustable-rate mortgage, or
          &#8220;ARM&#8221;, pass-throughs), asset-backed securities (&#8220;ABS&#8221;), and commercial mortgage-backed securities (&#8220;CMBS&#8221;) (agency and non-agency).</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">VIX is the ticker symbol for the <font style="font-weight: bold;">Chicago Board Options Exchange Market Volatility Index</font>, a popular measure of the implied volatility of
        S&amp;P 500 Index options. It is a weighted blend of prices for a range of options on the S&amp;P 500 Index.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">ICE BofA Merrill Lynch U.S. Convertible Index </font><font style="font-family: Arial;">consists of convertible bonds traded in the U.S. dollar
          denominated investment grade and noninvestment grade convertible securities sold into the U.S. market and publicly traded in the United States. The Index constituents are market-value weighted based on the convertible securities prices and
          outstanding shares, and the underlying index is rebalanced daily.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">ICE BofA Merrill Lynch U.S High Yield Index </font><font style="font-family: Arial;">includes USD-denominated, high yield, fixed-rate corporate
          securities. Securities are classified as high yield if the rating of Moody&#8217;s, Fitch, or S&amp;P is Ba1/BB +/BB + or below.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">S&amp;P 500</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#174; </sup><font style="font-weight: bold;">Index </font>is a
          capitalization-weighted index of 500 stocks designed to measure the performance of the broad economy, representing all major industries and is considered a representation of U.S. stock market.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Thomson Reuters Convertible Global Focus USD Hedged Index </font><font style="font-family: Arial;">is a market-weighted index with a minimum
          size for inclusion of $500 million (US), &#8364;200 million (Europe), &#165;22 billion (Japan), and $275 million (Other) of Convertible Bonds with an Equity Link.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">AVK Risks and Other Considerations</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The views expressed in this report reflect those of the Investment Adviser only through the report period as stated on the cover. These views are subject to change at any time,
        based on market and other conditions and should not be construed as a recommendation of any kind. The material may also contain forward-looking statements that involve risk and uncertainty, and there is no guarantee they will come to pass. There
        can be no assurance that the Fund will achieve its investment objectives or avoid losses. The value of the Fund will fluctuate with the value of the underlying securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">12 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
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              <div><font style="font-family: Arial; font-weight: bold;">QUESTIONS &amp; ANSWERS (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
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              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Historically, closed-end funds often trade at a discount to their net asset value. In the normal course of business, the Fund trades financial instruments and enters into
        financial transactions where risk of potential loss exists due to, among other things, changes in the market (market risk) or the potential inability of a counterparty to meet the terms of an agreement (counterparty risk). The Fund is also exposed
        to other risks such as, but not limited to, concentration, interest rate, credit and financial leverage risks.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Please see Note 2(i) beginning on page 46 for a discussion of certain Fund risks and considerations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic; font-weight: bold;">This material is not intended as a recommendation or as investment advice of any kind, including in connection with rollovers, transfers,
        and distributions. Such material is not provided in a fiduciary capacity, may not be relied upon for or in connection with the making of investment decisions, and does not constitute a solicitation of an offer to buy or sell securities. All content
        has been provided for informational or educational purposes only and is not intended to be and should not be construed as legal or tax advice and/or a legal opinion. Always consult a financial, tax and/or legal professional regarding your specific
        situation.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
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        REPORT l 13</div>
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              <div><font style="font-family: Arial; font-weight: bold;">FUND SUMMARY (Unaudited)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
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              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 20.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="5">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">Fund Statistics</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Share Price</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$14.79</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Net Asset Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$16.34</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Discount to NAV</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">-9.49%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Net Assets ($000)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$564,148</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="5">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 55.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">AVERAGE ANNUAL TOTAL RETURNS</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">FOR THE PERIOD ENDED October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">One</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Three</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Five</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Ten</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Advent Convertible and</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Income Fund</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 9pt;"><font style="font-family: Arial;">NAV</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">9.94%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">8.48%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4.50%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">7.40%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 9pt;"><font style="font-family: Arial;">Market</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">17.01%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">11.26%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5.31%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">8.57%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">Portfolio Breakdown</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 20.03%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">% of Net Assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Corporate Bonds</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">72.0%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Convertible Bonds</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">65.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Convertible Preferred Stocks</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">14.5%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Common Stocks</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">8.8%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Money Market Fund</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5.8%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Senior Floating Rate Interests</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Options Written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">-0.1%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">168.3%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Other Assets &amp; Liabilities, net</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">-68.3%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 55.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Net Assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.22%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 9.88%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">100.0%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Past performance does not guarantee future results and does not reflect the deductions of taxes that a shareholder would pay on fund distributions. All NAV returns include the
        deduction of management fees, operating expenses and all other Fund expenses. All portfolio data is subject to change daily. For more information, please visit guggenheiminvestments.com/avk.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The above summaries are provided for informational purposes only and should not be viewed as recommendations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">14 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z322361f65ce149d1999178c38c8e7c90" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 66.66%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 33.34%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 66.66%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">FUND SUMMARY (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 33.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><img src="charts.jpg"> </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">All or a portion of the above distributions may be characterized as a return of capital. For the year ended October 31, 2019, 60% of the distributions were characterized as
        return of capital. The final determination of the tax character of the distributions paid by the Fund in 2019 will be reported to shareholders in January 2020.</div>
      <table cellspacing="0" cellpadding="0" id="z35d0f107478347c48111ecbe55e92c1e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 100%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" colspan="2">
              <div style="text-align: center; font-weight: bold;">Country Diversification</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="2">&#160;</td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="2">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Country</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">% of Long-Term Investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">United States</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">77.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Cayman Islands</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4.3%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Canada</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Netherlands</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3.1%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">France</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.8%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Japan</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Bermuda</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.4%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Luxembourg</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.9%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">China</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.8%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">United Kingdom</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Panama</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Australia</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.5%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Germany</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.5%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Jersey</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.4%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Greece</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.3%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Finland</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.3%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Spain</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.3%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Switzerland</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.3%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Monaco</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Virgin Islands (UK)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Austria</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Hong Kong</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Malaysia</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Taiwan, Province of China</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.1%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Belgium</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.1%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Denmark</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">0.1%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Total Long-Term Investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">100.0%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="2">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 29.3%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 70.7%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 15&#160;</div>
            </td>
          </tr>

      </table>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" id="zab0a7444e380446297384261490b412f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 69.97%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15.01%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15.01%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">COMMON STOCKS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224; </sup><font style="font-weight: bold;">&#8211; 8.8%</font>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Cyclical &#8211; 4.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Six Flags Entertainment Corp.</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">163,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 6,876,970</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Carnival Corp.</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">150,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,433,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Delta Air Lines, Inc.</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">100,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,508,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Las Vegas Sands Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">75,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,638,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Consumer, Cyclical</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">23,456,470</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Industrial &#8211; 1.9%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Boeing Co.</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">19,200</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,526,272</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Eaton Corporation plc</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">50,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,355,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Industrial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">10,881,772</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Technology &#8211; 0.8%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Western Digital Corp.</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">90,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,648,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Financial &#8211; 0.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Citigroup, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">50,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,593,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Communications &#8211; 0.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Alibaba Group Holding Ltd. ADR*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">20,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,533,400</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Energy &#8211; 0.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Chevron Corp.</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">30,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,484,200</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Common Stocks</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">(Cost $51,049,683)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">49,597,342</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE PREFERRED STOCKS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224; </sup><font style="font-weight: bold;">&#8211; 14.5%</font>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Financial &#8211; 3.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Wells Fargo &amp; Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.50% </font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,4</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">9,067,975</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Bank of America Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.25%</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,4</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,066,360</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Crown Castle International Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.88% due 08/01/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,996</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,486,397</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">QTS Realty Trust, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.50%</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,4</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">15,083</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,892,012</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Assurant, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.50% due 03/15/21</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,387</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">673,213</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Financial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">20,185,957</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Non-cyclical &#8211; 2.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Danaher Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.75% due 04/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,535</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">7,255,941</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Bunge Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.88%</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,4</sup>&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">36,391</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,694,327</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 64.64%; vertical-align: bottom; font-family: Arial;" rowspan="1">
              <div>
                <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">16 l <font style="font-weight: bold;">AVK </font>l ADVENT
                CONVERTIBLE AND INCOME FUND ANNUAL REPORT <br>
              </div>
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zcaa095056b404dfda1b56b1e3f7f6db5" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 69.97%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15.01%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15.01%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 69.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.01%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE PREFERRED STOCKS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224; </sup><font style="font-weight: bold;">&#8211; 14.5% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Non-cyclical &#8211; 2.7% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Becton Dickinson and Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.13% due 05/01/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">52,354</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 3,229,195</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Avantor, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.25% due 05/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">25,867</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,345,343</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Consumer, Non-cyclical</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">15,524,806</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Technology &#8211; 2.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Broadcom, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.00% due 09/30/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">13,158</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">14,250,377</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Change Healthcare, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.00% due 06/30/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">15,756</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">796,151</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Technology</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">15,046,528</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Industrial &#8211; 2.3%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Energizer Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.50% due 01/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">97,842</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">9,085,608</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Fortive Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 07/01/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,836</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,663,428</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Stanley Black &amp; Decker, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.38% due 05/15/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">11,555</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,177,917</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Colfax Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 01/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,343</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">783,337</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Industrial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12,710,290</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Utilities &#8211; 1.8%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Dominion Energy, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.25% due 06/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">18,505</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,982,811</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">DTE Energy Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.25% due 11/01/22*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">38,565</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,958,330</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Southern Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.75% due 08/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">34,367</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,821,451</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">CenterPoint Energy, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.00% due 09/01/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">25,266</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,288,566</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Sempra Energy</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.75% due 07/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">10,450</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,214,238</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">American Electric Power Company, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.13% due 03/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">18,997</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,044,645</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">NextEra Energy, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.87% due 09/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">17,700</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">900,222</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Utilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">10,210,263</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 17</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z8bf6232beab2485aa20ac29a7cbe81c7" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE PREFERRED STOCKS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224; </sup><font style="font-weight: bold;">&#8211; 14.5% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Basic Materials &#8211; 1.4%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">International Flavors &amp; Fragrances, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.00% due 09/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">169,564</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 7,930,508</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Convertible Preferred Stocks</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">(Cost $75,653,061)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">81,608,352</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">MONEY MARKET FUND</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224; </sup><font style="font-weight: bold;">&#8211; 5.8%</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Morgan Stanley Institutional Liquidity Government Portfolio &#8211;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">Institutional Class 1.72%</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">32,701,173</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">32,701,173</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Money Market Fund</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">(Cost $32,701,173)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">32,701,173</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CORPORATE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 72.0%</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Non-cyclical &#8211; 13.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Bausch Health Companies, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 08/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,690,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 5,104,772</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.00% due 03/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,587,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,712,922</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">HCA, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.50% due 02/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,190,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,771,280</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.69% due 06/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,112,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,345,520</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Tenet Healthcare Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.63% due 07/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,146,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,218,428</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.88% due 01/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,983,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,054,884</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.00% due 08/01/25</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,837,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,908,551</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Encompass Health Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 09/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,782,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,966,372</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 11/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,834,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,858,071</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Land O&#8217;Lakes Capital Trust I</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.45% due 03/15/28</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,750,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,237,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">United Rentals North America, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.50% due 12/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,793,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,120,146</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Molina Healthcare, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.38% due 11/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,830,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,055,013</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Capitol Investment Merger Sub 2 LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.00% due 08/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,597,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,713,902</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">MEDNAX, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.25% due 01/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,729,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,701,032</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Nielsen Finance LLC / Nielsen Finance Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 04/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,596,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,632,032</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Magellan Health, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.90% due 09/22/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,556,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,538,220</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Centene Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.75% due 05/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,430,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,515,750</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>18 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
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          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CORPORATE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 72.0% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Non-cyclical &#8211; 13.2% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Ritchie Bros Auctioneers, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.38% due 01/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,249,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 3,403,328</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Constellation Brands, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.15% due 08/01/29</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,253,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,319,397</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Cardtronics Incorporated / Cardtronics USA Inc</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 05/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,569,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,665,338</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Ortho-Clinical Diagnostics Incorporated / Ortho-Clinical Diagnostics S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.63% due 05/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,233,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,160,428</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Spectrum Brands, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 07/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,758,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,841,505</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Central Garden &amp; Pet Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.13% due 11/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,419,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,473,986</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Envision Healthcare Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.75% due 10/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,857,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,077,060</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Dean Foods Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.50% due 03/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,132,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,012,700</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Service Corporation International</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.00% due 11/15/21</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">159,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">175,695</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Land O&#8217; Lakes, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
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            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">45,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">47,981</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">74,631,813</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Cyclical &#8211; 12.8%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Scientific Games International, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.00% due 12/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,336,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,440,250</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.25% due 03/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,868,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,980,080</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Navistar International Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.63% due 11/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,500,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,612,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Eagle Intermediate Global Holding BV/Ruyi US Finance LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.50% due 05/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,230,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,582,788</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Staples, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.75% due 04/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,595,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,705,288</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.50% due 04/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,770,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,845,579</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Dana Financing Luxembourg Sarl</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.50% due 06/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,636,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,835,980</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Enterprise Development Authority</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">12.00% due 07/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,432,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,775,200</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Downstream Development Authority of the Quapaw Tribe of Oklahoma</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.50% due 02/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,546,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,749,895</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Churchill Downs, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.75% due 01/15/28</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,011,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,131,440</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 04/01/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">428,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">454,750</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Michaels Stores, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.00% due 07/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,371,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,340,492</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
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      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 19</div>
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        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;"><br>
      </div>
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          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CORPORATE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 72.0% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Cyclical &#8211; 12.8% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Wolverine World Wide, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 09/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,201,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 3,249,015</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Truck Hero, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.50% due 04/21/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,174,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,162,097</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Mattamy Group Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.88% due 12/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,037,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,154,684</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Wynn Macau Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 10/01/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,754,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,840,923</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">American Greetings Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.75% due 04/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,040,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,796,800</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Carlson Travel, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">9.50% due 12/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,600,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,632,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">TRI Pointe Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.88% due 07/01/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,484,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,564,730</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Delphi Technologies plc</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 10/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,745,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,388,150</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Goodyear Tire &amp; Rubber Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.75% due 08/15/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,130,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,233,838</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">AAG FH Limited Partnership / AAG FH Finco, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">9.75% due 07/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,254,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,090,585</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Six Flags Entertainment Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.88% due 07/31/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,070,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Tempur Sealy International, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.63% due 10/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,065,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Scotts Miracle-Gro Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.25% due 12/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,716,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,812,525</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">GameStop Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.75% due 03/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,250,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,256,250</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">William Carter Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.63% due 03/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">703,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">754,846</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Consumer, Cyclical</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">72,526,185</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Communications &#8211; 11.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Sprint Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.88% due 09/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,900,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">7,633,125</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.25% due 09/15/21</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,731,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,851,408</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Sirius XM Radio, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.38% due 04/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,218,750</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.88% due 08/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,689,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,759,586</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 08/01/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">297,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">313,335</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">CenturyLink, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.45% due 06/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,312,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,494,160</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.88% due 01/15/28</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,284,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,367,460</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">CommScope, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.25% due 03/01/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,674,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,444,881</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>20 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="za37be5308541401698b36e2f7839496c" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CORPORATE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 72.0% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Communications &#8211; 11.7% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Altice Luxembourg S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.50% due 05/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,547,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 4,021,411</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Charter Communications Operating LLC / Charter Communications Operating Capital</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.58% due 07/23/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,900,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,933,793</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Symantec Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 04/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,775,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,873,401</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">DISH DBS Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.75% due 06/01/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,015,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,120,788</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.13% due 05/01/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,716,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,737,450</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Diamond Sports Group LLC / Diamond Sports Finance Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.38% due 08/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,360,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,519,600</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Cincinnati Bell, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.00% due 10/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,534,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,171,765</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">MDC Partners, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.50% due 05/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,293,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,165,396</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Meredith Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.88% due 02/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,601,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,693,934</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">National CineMedia LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.00% due 04/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,774,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,796,352</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.88% due 04/15/28</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">659,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">694,323</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Photo Holdings Merger Sub, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.50% due 10/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,808,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,478,425</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Nokia Oyj</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.38% due 06/12/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,361,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,393,464</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">T-Mobile USA, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.00% due 04/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,741,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,801,430</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">GrubHub Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 07/01/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup></font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"></sup> <br>
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            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">1,741,000 <br>
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            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">1,636,540 <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Communications</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">66,120,777</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Basic Materials &#8211; 8.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Alcoa Nederland Holding BV</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.75% due 09/30/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,225,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.13% due 05/15/28</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,495,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,757,125</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Commercial Metals Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 04/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,019,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,120,891</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.88% due 05/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,112,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">FMG Resources August 2006 Pty Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.75% due 05/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,756,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,849,015</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.13% due 03/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,087,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">First Quantum Minerals Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.88% due 03/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,924,000</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,860,235</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.50% due 04/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">800,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">805,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">New Gold, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.38% due 05/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,850,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,677,135</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 21</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z9098248610b14596973c804da8353307" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CORPORATE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 72.0% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Basic Materials &#8211; 8.6% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Valvoline, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 07/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,406,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 2,509,007</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.38% due 08/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,022,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Compass Minerals International, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.88% due 07/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,281,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,215,380</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">AK Steel Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.50% due 07/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,100,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,123,250</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Steel Dynamics, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 10/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,563,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,647,015</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Freeport-McMoRan, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.55% due 03/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,293,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,324,529</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">TPC Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.50% due 08/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,016,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,147,040</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Kaiser Aluminum Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.88% due 05/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,038,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,124,615</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Tronox Finance plc</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 10/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup></font><font style="font-family: Arial;"> </font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"></sup> <br>
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            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">1,983,000 <br>
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            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">1,878,892 <br>
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            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Basic Materials</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">48,486,629</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Energy &#8211; 8.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">PBF Holding Company LLC / PBF Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.25% due 06/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,857,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,045,029</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Parsley Energy LLC / Parsley Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.63% due 10/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,158,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,238,925</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.38% due 01/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,703,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,761,719</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Calumet Specialty Products Partners Limited Partnership / Calumet Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">11.00% due 04/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,698,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,716,490</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Parkland Fuel Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.88% due 07/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,178,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,371,286</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">PDC Energy, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 05/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,433,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,218,438</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Genesis Energy Limited Partnership / Genesis Energy Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.25% due 05/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,431,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,190,830</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Oasis Petroleum, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.25% due 05/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,465,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,058,525</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Ascent Resources Utica Holdings LLC / ARU Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.00% due 11/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,100,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,617,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.00% due 04/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,438,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,367,969</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Murphy Oil Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.88% due 08/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,688,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,848,850</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Plains All American Pipeline, LP</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.13% </font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">4,5</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,802,060</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Continental Resources, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 09/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,598,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,619,566</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>22 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z5de25d6e081e4b80b1c99eea26fc396b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CORPORATE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 72.0% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Energy &#8211; 8.6% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Alliance Resource Operating Partners Limited Partnership / Alliance Resource Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.50% due 05/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,859,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 2,430,150</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Summit Midstream Holdings LLC / Summit Midstream Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.75% due 04/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,768,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,159,040</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 08/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">125,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">112,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Gulfport Energy Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.00% due 10/15/24</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,430,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,220,925</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">SM Energy Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.75% due 09/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,356,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,032,050</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Indigo Natural Resources LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.88% due 02/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,082,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,905,030</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">PBF Logistics Limited Partnership / PBF Logistics Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.88% due 05/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,565,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,611,950</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Energy</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">48,328,332</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Financial &#8211; 5.9%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">GMAC, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.00% due 11/01/31</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,306,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,616,003</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">SBA Communications Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.00% due 10/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,697,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,789,980</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Credit Acceptance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.63% due 03/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,920,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,109,800</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.38% due 03/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">655,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">678,744</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Springleaf Finance Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.75% due 10/01/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,347,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,660,848</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Fidelity &amp; Guaranty Life Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 05/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,168,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,397,680</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">CIT Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 08/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,920,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,111,464</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Navient Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.00% due 03/25/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,008,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,079,440</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Ardonagh Midco 3 plc</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.63% due 07/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,836,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,687,110</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">CoreCivic, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.63% due 05/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,665,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,508,431</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">AG Merger Sub II, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.75% due 08/01/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,510,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,497,450</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Newmark Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.13% due 11/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">90,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">98,219</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Financial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">33,235,169</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Technology &#8211; 5.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Amkor Technology, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.63% due 09/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,249,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,873,900</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 23</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z172b657a2f934c1faebe38b2cfcf9642" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CORPORATE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 72.0% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Technology &#8211; 5.7% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">NCR Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.00% due 07/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 5,050,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Qorvo, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 07/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,279,920</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Seagate HDD Cayman</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.25% due 03/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,058,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,203,242</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Infor US, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.50% due 05/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,070,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Western Digital Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.75% due 02/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,906,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,998,865</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Dell, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.63% due 04/01/21</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,675,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,789,384</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Technology</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">32,265,311</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Industrial &#8211; 5.1%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">MasTec, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.88% due 03/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,715,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,797,512</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Louisiana-Pacific Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.88% due 09/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,779,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,901,818</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">WESCO Distribution, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.38% due 06/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,433,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,561,737</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Ball Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.38% due 12/15/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,432,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,502,785</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Energizer Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.38% due 07/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,206,400</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Navios Maritime Acquisition Corporation / Navios Acquisition Finance US, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">8.13% due 11/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,695,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,029,900</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">TransDigm, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.00% due 07/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,558,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,604,684</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Navios Maritime Holdings, Inc. / Navios Maritime Finance II US, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.38% due 01/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,512,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,054,520</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Mueller Water Products, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.50% due 06/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,899,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,996,324</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Industrial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">28,655,680</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Utilities &#8211; 0.4%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Talen Energy Supply LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">10.50% due 01/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,700,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,466,250</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">6.63% due 01/15/28</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">776,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">752,720</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Utilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,218,970</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Corporate Bonds</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">(Cost $402,880,189)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">406,468,866</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">24 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z43af1f1b0558483ba67ff02215123373" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 65.6%</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Technology &#8211; 16.4%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Microchip Technology, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.63% due 02/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">8,554,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 11,219,287</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Alteryx, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.00% due 08/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">7,211,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,536,829</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Splunk, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 09/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,744,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,265,118</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Nuance Communications, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.00% due 12/15/35</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,885,630</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.25% due 04/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,171,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,236,869</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Akamai Technologies, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.13% due 05/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,676,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,135,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.38% due 09/01/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,321,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,320,716</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Workiva, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.13% due 08/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,721,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,259,883</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">STMicroelectronics N.V.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 07/03/24</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,200,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,155,360</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">ON Semiconductor Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.63% due 10/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,315,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,136,961</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Rapid7, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.25% due 08/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,899,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,020,416</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Synaptics, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 06/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,785,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Talend S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.75% due 09/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 3,180,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,443,358</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Workday, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 10/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,675,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,415,426</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Pure Storage, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.13% due 04/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,173,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,343,737</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Insight Enterprises, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 02/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,002,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,189,155</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Coupa Software, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.13% due 06/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,804,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,048,828</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Five9, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.13% due 05/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,365,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,025,319</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">New Relic, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 05/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,080,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,004,288</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Zynga, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 06/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,789,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,833,475</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Lumentum Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 03/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,353,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,714,100</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">DocuSign, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 09/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,250,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,474,153</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Pluralsight, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.38% due 03/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,668,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,467,723</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;" rowspan="1" colspan="3">
              <div style="text-align: right;">&#160;<font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 25&#160;</div>
            </td>
          </tr>

      </table>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zedf22d4976e64b858f30242c6a76684f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 65.6% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Technology &#8211; 16.4% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Lenovo Group Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.38% due 01/24/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,350,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 1,464,356</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Envestnet, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.75% due 06/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,288,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,459,809</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">ServiceNow, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 19.45pt;"><font style="font-family: Arial;">due 06/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">711,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,333,677</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">LivePerson, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 03/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,007,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,276,372</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">CSG Systems International, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.25% due 03/15/36</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">999,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,173,924</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Tabula Rasa HealthCare, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.75% due 02/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">967,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,006,284</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Altair Engineering, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 06/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">953,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">990,119</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Teradyne, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.25% due 12/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">475,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">945,319</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Twilio, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 06/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">550,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">837,223</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Verint Systems, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.50% due 06/01/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">682,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">698,197</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Cypress Semiconductor Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.50% due 01/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">330,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">573,053</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Technology</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">92,675,464</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Non-cyclical &#8211; 15.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Exact Sciences Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.38% due 03/15/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,424,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,916,588</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Herbalife Nutrition Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.63% due 03/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,743,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,809,298</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Wright Medical Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.63% due 06/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,566,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,288,183</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Jazz Investments I Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.50% due 08/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,046,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,810,911</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Heska Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.75% due 09/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,979,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,783,612</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Square, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 05/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,933,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,352,781</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Lannett Company, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.50% due 10/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,142,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">DexCom, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 12/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,064,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,669,265</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Illumina, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 06/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,042,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,664,905</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 08/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">803,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">872,020</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>26 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z06c30d866d3446c3bc6be6ab0f20027a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 65.6% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Non-cyclical &#8211; 15.7% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">BioMarin Pharmaceutical, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.50% due 10/15/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,307,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 3,479,162</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Intercept Pharmaceuticals, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.25% due 07/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,548,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,125,887</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Ionis Pharmaceuticals, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.00% due 11/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,522,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,782,982</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Insulet Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.38% due 09/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,791,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,681,104</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Euronet Worldwide, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 03/15/49</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,270,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,587,204</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Chegg, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.13% due 03/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,547,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,389,850</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Wright Medical Group N.V.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.25% due 11/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,942,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,291,124</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">NuVasive, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.25% due 03/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,735,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,183,393</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Teladoc Health, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.38% due 05/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,150,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,869,441</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Orpea</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.38% due 05/17/27</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">9,164</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">**</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,641,512</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">QIAGEN N.V.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 09/13/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,600,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,548,152</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Horizon Pharma Investment Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.50% due 03/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,257,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,511,143</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Neurocrine Biosciences, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.25% due 05/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">962,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,406,371</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Yaoko Company Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 06/20/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 120,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,152,379</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Sarepta Therapeutics, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.50% due 11/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">775,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,094,796</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">CONMED Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.63% due 02/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">729,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,004,035</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Anthem, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.75% due 10/15/42</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">264,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">999,064</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">WuXi AppTec Company Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 09/17/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">900,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">986,782</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Flexion Therapeutics, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.38% due 05/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,019,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">983,614</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Biocartis N.V.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.00% due 05/09/24</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 1,100,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">926,548</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Nipro Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 01/29/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 90,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">864,329</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">GMO Payment Gateway, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 06/19/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 70,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">824,773</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;" rowspan="1" colspan="3">
              <div style="text-align: right;"><font style="font-weight: bold;">AVK</font> l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 27&#160;</div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z6450246e1e794aba874016102bc70b1e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 65.6% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Non-cyclical &#8211; 15.7% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Insmed, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.75% due 01/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">918,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 788,290</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">GN Store Nord A/S</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 05/21/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 700,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">775,450</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Carrefour S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 03/27/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">800,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">772,720</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Top Glove Labuan Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.00% due 03/01/24</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">675,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">666,632</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">J Sainsbury plc</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.88% due 12/29/49</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">5</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">GBP 500,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">653,088</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">PTC Therapeutics, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-indent: 18pt;">
                <div><font style="font-family: Arial;">1.50% due 09/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup> <br>
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                <font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"></sup> </font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">248,000 <br>
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            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">258,881 <br>
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            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Consumer, Non-cyclical</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">88,558,269</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Communications &#8211; 13.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Liberty Media Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.38% due 10/15/23</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,138,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,231,839</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.25% due 12/01/48</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,839,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,365,144</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">YY, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.38% due 06/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,715,704</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 06/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,149,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,923,157</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Palo Alto Networks, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 07/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,815,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,425,359</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">DISH Network Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.38% due 08/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,946,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,637,178</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Booking Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.90% due 09/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,042,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,405,043</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.35% due 06/15/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,094,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,706,035</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Twitter, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 06/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,294,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,110,438</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">IAC Financeco 2, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.88% due 06/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,802,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,108,924</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Proofpoint, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 08/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,738,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,878,175</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Viavi Solutions, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.00% due 03/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,625,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,527,344</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Snap, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 08/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,759,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,795,502</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Ctrip.com International Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.99% due 07/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,436,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,553,232</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Zillow Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 09/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,425,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,445,662</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">GCI Liberty, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.75% due 09/30/46</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,810,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,442,685</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>28 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z3151ffb0b06e4c35964d937aca545d91" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 65.6% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Communications &#8211; 13.7% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Vonage Holdings Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.75% due 06/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,507,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 2,436,892</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Q2 Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.75% due 06/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,238,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,374,005</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Okta, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.13% due 09/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,347,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,232,711</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Etsy, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.13% due 10/01/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,454,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,228,639</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Wayfair, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.00% due 08/15/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,146,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,918,896</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.13% due 11/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">205,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">209,829</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Liberty Latin America Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.00% due 07/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,874,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,951,905</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">iQIYI, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.00% due 04/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,050,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,856,609</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Zendesk, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 03/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,218,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,589,042</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">FireEye, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.88% due 06/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,357,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,345,525</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">8x8, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 02/01/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,229,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,257,517</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">InterDigital, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,063,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,050,831</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Pinduoduo, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">395,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">460,478</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Communications</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">77,184,300</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Industrial &#8211; 5.4%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Airbus SE</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 07/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 1,600,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,350,292</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 06/14/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 1,700,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,072,478</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">KBR, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.50% due 11/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,379,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,243,423</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Fortive Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.88% due 02/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,452,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,425,217</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Cellnex Telecom S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.50% due 01/16/26</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 1,600,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,382,780</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Sika A.G.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.15% due 06/05/25</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">CHF 1,980,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,284,098</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">China Railway Construction Corporation Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 01/29/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,120,554</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Asia Cement Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 09/21/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,627,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,868,740</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">OSI Systems, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.25% due 09/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,430,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,581,938</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial; text-align: right;" rowspan="1" colspan="3">
              <div><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 29&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zeebfce42393f443b9e849e5afd0ee5f4" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 65.6% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Industrial &#8211; 5.4% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Vinci S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.38% due 02/16/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,200,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 1,483,380</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">MINEBEA MITSUMI, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 08/03/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 120,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,320,301</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Taiwan Cement Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 12/10/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,100,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,290,219</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Chart Industries, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.00% due 11/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">947,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,142,193</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Vishay Intertechnology, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.25% due 06/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,119,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,105,422</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">CRRC Corporation Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 02/05/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">963,311</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Mesa Laboratories, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.38% due 08/15/25</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">781,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">820,538</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Air Transport Services Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-indent: 18pt;">
                <div><font style="font-family: Arial;">1.13% due 10/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> <br>
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                <font style="font-family: Arial;"></font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">818,000 <br>
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            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">751,926 <br>
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            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Industrial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">30,206,810</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Cyclical &#8211; 4.7%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Huazhu Group Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.38% due 11/01/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,025,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,511,797</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Tesla, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.00% due 05/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,175,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,667,252</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.25% due 03/01/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">909,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">990,441</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Marriott Vacations Worldwide Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.50% due 09/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,542,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,601,515</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Zhongsheng Group Holdings Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 05/23/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">HKD 17,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,386,185</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Harvest International Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 11/21/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">HKD 16,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,069,036</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Guess?, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.00% due 04/15/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,982,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,899,004</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Sony Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 09/30/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 147,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,898,064</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Cie Generale des Etablissements Michelin SCA</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
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            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
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            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,825,884</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Adidas AG</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.05% due 09/12/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 800,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,086,760</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Meritor, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.25% due 10/15/37</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,032,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,062,529</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Suzuki Motor Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 03/31/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 70,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">823,749</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">EZCORP, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.38% due 05/01/25</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">858,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">644,161</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>30 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zfc79fdeda98d4cab84002959985b48db" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 65.6% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Cyclical &#8211; 4.7% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Kering S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 09/30/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 400,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 478,846</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">LVMH Moet Hennessy Louis Vuitton SE</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 02/16/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,031</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">**</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">471,949</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Consumer, Cyclical</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">26,417,172</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Financial &#8211; 4.6%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">AXA S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">7.25% due 05/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,3</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,371,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,540,376</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">SBI Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 09/13/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 300,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,930,675</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Poseidon Finance 1 Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 02/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,424,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,431,719</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Deutsche Wohnen SE</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.33% due 07/26/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 1,800,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,104,764</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">PRA Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.50% due 06/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,960,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,991,588</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Colony Capital, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.88% due 01/15/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,909,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,880,371</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">IMMOFINANZ AG</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.50% due 01/24/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 1,300,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,840,271</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">BofA Finance LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.25% due 05/01/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,523,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,536,333</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Blackstone Mortgage Trust, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.75% due 03/15/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,263,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,336,362</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Aurelius SE</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.00% due 12/01/20</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 1,200,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,312,609</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">IH Merger Sub LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">3.50% due 01/15/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">835,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,151,227</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">PHP Finance Jersey NO 2 Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.88% due 07/15/25</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">GBP 785,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,092,644</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Cindai Capital Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 02/08/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">800,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">775,773</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">LEG Immobilien AG</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.88% due 09/01/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"></sup> <br>
                </font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">EUR 600,000 <br>
              </div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1">
              <div style="text-align: right;">770,555 <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Financial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">25,695,267</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(204, 238, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Basic Materials &#8211; 2.1%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Toray Industries, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 08/31/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 370,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,759,866</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Brenntag Finance BV</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.88% due 12/02/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,500,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,457,300</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Mitsubishi Chemical Holdings Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 03/29/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY 130,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,246,078</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial; text-align: right;" rowspan="1" colspan="3">
              <div><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 31&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="ze78399e43464438fbc92338be0c82d05" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">CONVERTIBLE BONDS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224; </sup><font style="font-weight: bold;">&#8211; 65.6% (continued)</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Basic Materials &#8211; 2.1% (continued)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Cleveland-Cliffs, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.50% due 01/15/25</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">930,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 1,022,620</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Osisko Gold Royalties Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.00% due 12/31/22</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">CAD 1,300,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,006,490</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Pretium Resources, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.25% due 03/15/22</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">837,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">892,995</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Glencore Funding LLC</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 03/27/25</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">800,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">678,072</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Basic Materials</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12,063,421</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Energy &#8211; 1.8%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">TOTAL S.A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 12/02/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,109,360</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Transocean, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">0.50% due 01/30/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,326,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,916,429</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">RAG-Stiftung</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 02/18/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 800,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">893,806</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 10/02/24</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 700,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">781,799</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">BP Capital Markets plc</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.00% due 04/28/23</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">GBP 1,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,564,898</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Whiting Petroleum Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">1.25% due 04/01/20</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,380,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,363,321</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Eni SpA</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 04/13/22</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR 900,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,038,525</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Helix Energy Solutions Group, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.13% due 09/15/23</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">632,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">765,905</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Energy</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">10,434,043</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Utilities &#8211; 1.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">NRG Energy, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">2.75% due 06/01/48</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,318,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,635,633</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">CenterPoint Energy, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.52% due 09/15/29</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">40,717</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">**</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,369,322</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">China Yangtze Power International BVI 1 Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">due 11/09/21</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1,6</sup>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,775,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,857,551</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Utilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,862,506</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Convertible Bonds</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">(Cost $352,213,811)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">370,097,252</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">32 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
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          <tr>
            <td style="width: 70%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 15%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount~</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">SENIOR FLOATING RATE INTERESTS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224;,7 </sup><font style="font-weight: bold;">&#8211; 1.7%</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Cyclical &#8211; 1.0%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">PetSmart, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.04% (3 Month USD LIBOR + 3.00%, Rate Floor: 1.00%) due 03/11/22</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,878,150</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 3,790,099</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Alterra Mountain Co.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.80% (3 Month USD LIBOR + 3.00%, Rate Floor: 0.00%) due 07/31/24</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,864,785</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,869,447</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Consumer, Cyclical</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">5,659,546</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Communications &#8211; 0.5%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Sprint Communications, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">4.56% (3 Month USD LIBOR + 2.50%, Rate Floor: 0.75%) due 02/03/24</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,925,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,896,978</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Consumer, Non-cyclical &#8211; 0.2%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Refinitiv US Holdings, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">5.79% (3 Month USD LIBOR + 3.75%, Rate Floor: 0.00%) due 10/01/25</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">992,500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">998,644</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Senior Floating Rate Interests</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">(Cost $9,669,440)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">9,555,168</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Investments &#8211; 168.4%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">(Cost $924,167,357)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 950,028,153</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="vertical-align: middle; font-family: Arial; background-color: rgb(255, 255, 255);" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">LISTED OPTIONS WRITTEN</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224; </sup><font style="font-weight: bold;">&#8211; (0.1)%</font>&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Call options on:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Citigroup, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
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            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">500</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (50,000)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Alibaba Group Holdings, Ltd.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">Expiring November 2019 with strike price of $180.00 (Notional Value $3,600,000)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">200</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(89,000)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Las Vegas Sands Corp.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">Expiring November 2019 with strike price of $60.00 (Notional Value $4,500,000)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">750</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(201,000)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Call Options</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(340,000)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Listed Options Written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">(Premiums received $202,770)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(340,000)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Other Assets &amp; Liabilities, net &#8211; (68.3)%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(385,539,893)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 70%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Net Assets &#8211; 100.0%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 564,148,260</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 33</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z20f9603d6a074588984a72337f260de5" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 13.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 5.27%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 12.63%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 11.57%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 12.63%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 12.63%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 16.84%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 14.74%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 55.79%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="5">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="8">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="8">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 55.79%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">FORWARD FOREIGN CURRENCY EXCHANGE CONTRACTS</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">&#8224;&#8224;</sup>&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 13.7%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 5.27%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Unrealized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.7%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 5.27%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Settlement</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Settlement</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value at</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Appreciation</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">Counterparty</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 17.9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Contracts to Sell</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Currency</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Date</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">(Depreciation)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="2">
              <div><font style="font-family: Arial;">Bank of New York Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,649,306,300</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/13/19</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$15,410,265</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$&#160; 15,300,648</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 109,617</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.96%; vertical-align: bottom; background-color: rgb(255, 255, 255);" colspan="2">
              <div><font style="font-family: Arial;">Bank of New York Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">34,500,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">HKD</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/13/19</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,402,431</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">4,400,918</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,513</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="2">
              <div><font style="font-family: Arial;">Bank of New York Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,361,891</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">CAD</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/13/19</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,037,284</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1,036,377</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">907</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.96%; vertical-align: bottom; background-color: rgb(255, 255, 255);" colspan="2">
              <div><font style="font-family: Arial;">Bank of New York Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,204,393</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">CHF</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/13/19</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,236,126</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,241,882</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(5,756)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="2">
              <div><font style="font-family: Arial;">Bank of New York Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2,578,424</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">GBP</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/13/19</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,198,452</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,341,465</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(143,013)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="2">
              <div><font style="font-family: Arial;">Bank of New York Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">22,436,676</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/13/19</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">24,868,586</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">25,108,540</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(239,954)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 5.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$(276,686)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.7%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 5.27%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Settlement</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Settlement</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value at</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Unrealized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">Counterparty</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 17.9%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Contracts to Buy</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
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            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Date</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Appreciation</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.96%; vertical-align: bottom; background-color: rgb(204, 238, 255);" colspan="2">
              <div><font style="font-family: Arial;">Bank of New York Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">927,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">EUR</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/13/19</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$1,019,084</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$&#160;&#160; 1,037,391</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$&#160;&#160; 18,307</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="2">
              <div><font style="font-family: Arial;">Bank of New York Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">50,700,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">JPY</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/13/19</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">466,748</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">470,345</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3,597</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 13.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 5.27%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 12.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 14.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$&#160;&#160; 21,904</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">~&#160;&#160;&#160; The face amount is denominated in U.S. dollars unless otherwise indicated.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">*&#160;&#160; &#160; Non-income producing security.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">**&#160;&#160;&#160; Represents shares.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">&#8224; &#160;&#160; Value determined based on Level 1 inputs &#8212; See Note 6. </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">&#8224;&#8224;&#160; Value determined based on Level 2 inputs &#8212; See Note 6.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; text-indent: -18pt; margin-left: 18pt; font-style: italic;">1 &#160;&#160; All or a portion of these securities have been physically segregated in connection with the margin loan and
        reverse repurchase agreements. As of October 31, 2019, the total value of securities segregated was $757,529,999.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">2&#160;&#160;&#160; Rate indicated is the 7-day yield as of October 31, 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; text-indent: -18pt; margin-left: 18pt; font-style: italic;">3&#160;&#160;&#160; Security is a 144A or Section 4(a)(2) security. These securities have been determined to be liquid under
        guidelines established by the Board of Trustees. The total market value of 144A or Section 4(a)(2) securities is $317,074,656 (cost $312,051,608), or 56.2% of total net assets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">4&#160;&#160;&#160; Perpetual maturity.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">5&#160;&#160;&#160; Security has a fixed rate coupon which will convert to a floating or variable rate coupon on a future date.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">6&#160;&#160;&#160; Zero coupon rate security.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; text-indent: -18pt; margin-left: 18pt; font-style: italic;">7&#160;&#160;&#160; Variable rate security. Rate indicated is the rate effective at October 31, 2019. In some instances, the effective
        rate is limited by a minimum rate floor or a maximum rate cap established by the issuer. The settlement status of a position may also impact the effective rate indicated. In some cases, a position may be unsettled at period end and may not have a
        stated effective rate. In instances where multiple underlying reference rates and spread amounts are shown, the effective rate is based on a weighted average.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">34 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z6df1e1bd66344241a8940bd252d16bc8" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 10.19%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 57.15%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 32.66%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 67.34%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
              <div><font style="font-family: Arial; font-weight: bold;">PORTFOLIO OF INVESTMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="3">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">ADR</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">American Depositary Receipt</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">CAD</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div style="font-style: italic;"><font style="font-family: Arial;">Canadian Dollar</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">CHF</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div style="font-style: italic;"><font style="font-family: Arial;">Swiss Franc</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">EUR</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div style="font-style: italic;"><font style="font-family: Arial;">Euro</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">GBP</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div style="font-style: italic;"><font style="font-family: Arial;">British Pound</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">HKD</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div style="font-style: italic;"><font style="font-family: Arial;">Hong Kong Dollar</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">JPY</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div style="font-style: italic;"><font style="font-family: Arial;">Japanese Yen</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">LIBOR</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div style="font-style: italic;"><font style="font-family: Arial;">London Interbank Offered Rate</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.19%; vertical-align: bottom;">
              <div style="text-indent: 9pt; font-style: italic;"><font style="font-family: Arial;">plc</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 57.15%; vertical-align: bottom;">
              <div style="font-style: italic;"><font style="font-family: Arial;">Public Limited Company</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.66%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">See Sector Classification in Other Information section.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following table summarizes the inputs used to value the Fund&#8217;s investments at October 31, 2019 (See Note 6 in the Notes to Financial Statements):</div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Level 2</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Level 3</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Level 1</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Significant</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Significant</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Quoted</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Observable</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Unobservable</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div><font style="font-family: Arial; font-weight: bold;">Investments in Securities (Assets)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Prices</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Inputs</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Inputs</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Total</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Common Stocks</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">49,597,342</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">49,597,342</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Convertible Preferred Stocks</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">81,608,352</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">81,608,352</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Money Market Fund</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">32,701,173</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">32,701,173</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Corporate Bonds</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">406,468,866</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">406,468,866</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Convertible Bonds</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">370,097,252</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">370,097,252</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Senior Floating Rate Interests</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">9,555,168</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">9,555,168</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Forward Foreign Currency</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="text-indent: 18pt;"><font style="font-family: Arial;">Exchange Contracts*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">133,941</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">133,941</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Total Assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">163,906,867</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">786,255,227</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">950,162,094</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial; background-color: #FFFFFF;" colspan="16">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Level 2</font><font style="font-family: Arial;"> </font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Level 3</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial; background-color: #FFFFFF;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Level 1</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Significant</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Significant</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Quoted</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Observable</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Unobservable</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Investments in Securities (Liabilities)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Prices</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Inputs</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Inputs</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Total</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Options Written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">340,000</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">340,000</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Forward Foreign Currency</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
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              <div style="text-indent: 18pt;"><font style="font-family: Arial;">Exchange Contracts*</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">388,723</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">388,723</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 52%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
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            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">340,000</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">388,723</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">728,723</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="16">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
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              <div><font style="font-family: Arial;">* This derivative is reported as unrealized appreciation/depreciation at period end.</font><font style="font-family: Arial;"> </font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Please refer to the detailed portfolio for the breakdown of investment type by industry category.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement purposes. As of the period end, reverse repurchase
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The fund did not hold any Level 3 securities during the year ended October 31, 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
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      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 35</div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div><font style="font-family: Arial; font-weight: bold;">STATEMENT OF ASSETS AND LIABILITIES</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;"> </font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="4">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="4">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">ASSETS:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Investments, at value (cost $924,167,357)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">950,028,153</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Cash</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">656,000</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Unrealized appreciation on forward foreign currency exchange contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">133,941</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Receivables:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Investments sold</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">9,943,112</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Interest</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">7,916,314</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Dividends</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">213,854</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Tax reclaims</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">63,780</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Other assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">186,043</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Total assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">969,141,197</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial; font-weight: bold;">LIABILITIES:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Margin Loan</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">210,000,000</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Reverse repurchase agreements (Note 7)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">177,016,427</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Options Written, at value (proceeds $202,770)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">340,000</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Unrealized depreciation on forward foreign currency exchange contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">388,723</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Interest payable on the margin loan</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">23,731</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Payable for:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Investments purchased</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">16,057,139</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Investment advisory fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">434,500</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Professional fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">266,239</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Servicing fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">169,053</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Other liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">297,125</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Total liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">404,992,937</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">NET ASSETS</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">564,148,260</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial; font-weight: bold;">NET ASSETS CONSIST OF:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Common stock, $0.001 par value per share; unlimited number of shares authorized,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">34,525,222 shares issued and outstanding</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">34,525</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Additional paid-in capital</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">574,932,410</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Total distributable earnings (loss)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(10,818,675</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">NET ASSETS</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">564,148,260</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Shares outstanding ($0.001 par value with unlimited amount authorized)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">34,525,222</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Net asset value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">16.34</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">36 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT</div>
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        <div id="DSPFPageBreak" style="page-break-after:always;">
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
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          <tr>
            <td style="width: 67.68%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 32.32%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 67.68%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">STATEMENT OF OPERATIONS</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.32%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 67.68%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">For the Year Ended October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.32%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
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      </div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
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            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
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            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">33,363,974</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Dividends (net of foreign taxes withholding $2,804)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">5,974,976</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Total investment income</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">39,338,950</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">EXPENSES:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Interest expense</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">14,250,656</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Investment advisory fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">5,118,997</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Servicing fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">1,990,721</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Trustees&#8217; fees and expenses*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">463,609</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Professional fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">428,202</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Insurance</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">191,778</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Administration fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">182,194</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Fund accounting fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">172,587</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Printing fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">113,940</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Custodian fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">60,088</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Registration and filing fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">33,855</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Transfer agent fees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">20,380</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Other expenses</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">30,341</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Total expenses</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">23,057,348</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Net investment income</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">16,281,602</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">NET REALIZED AND UNREALIZED GAIN (LOSS):</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Net realized gain (loss) on:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(6,130,747</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Foreign currency transactions</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(40,029</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Forward foreign currency exchange contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">2,083,374</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Options Written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">66,968</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Net realized loss</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(4,020,434</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Net change in unrealized appreciation (depreciation) on:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">42,204,732</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
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              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Foreign currency translations</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">7,424</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Forward foreign currency exchange contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(1,151,928</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="margin-left: 10pt;"><font style="font-family: Arial;">Options Written</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(56,885</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Net change in unrealized appreciation (depreciation)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">41,003,343</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Net realized and unrealized gain</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">36,982,909</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: 4px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Net increase in net assets resulting from operations</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">53,264,511</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">* Relates to Trustees not deemed &#8220;interested persons&#8221; within the meaning of Section 2(a)(19) of the 1940 Act.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
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          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
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            <td valign="bottom" style="vertical-align: middle; font-family: Arial;">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div><font style="font-family: Arial; font-weight: bold;">STATEMENTS OF CHANGES IN NET ASSETS</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial; border-bottom: #000000 solid 2px;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;"> </font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="8">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial; border-bottom: #000000 solid 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31, 2019</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31, 2018</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">INCREASE (DECREASE) IN NET ASSETS FROM OPERATIONS:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net investment income</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">16,281,602</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">11,487,807</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Net realized gain (loss) on investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(4,020,434</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">24,129,828</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net change in unrealized appreciation (depreciation)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="font-family: &#38;quot; text-indent: 18pt;"><font style="font-family: Arial;">on investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">41,003,343</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(51,825,603</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net increase (decrease) in net assets resulting from operations</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">53,264,511</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(16,207,968</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Distributions to shareholders</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(19,250,159</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(13,035,462</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Return of capital</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(29,306,113</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(18,468,343</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">SHAREHOLDER TRANSACTIONS:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net proceeds from the issuance of shares due to merger</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">253,762,759</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">a</sup>&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Net increase in net assets resulting from shareholder transactions</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">253,762,759</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net increase in net assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">4,708,239</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">206,050,986</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">NET ASSETS:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="font-family: &#38;quot; text-indent: 18pt;"><font style="font-family: Arial;">Beginning of period</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">559,440,021</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">353,389,035</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;">
              <div style="font-family: &#38;quot; text-indent: 18pt;"><font style="font-family: Arial;">End of period</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">564,148,260</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">559,440,021</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial; width: 76%;">
              <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">a </sup>Fund merger &#8211; See note 11&#160;</div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">38 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT</div>
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          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div><font style="font-family: Arial; font-weight: bold;">STATEMENT OF CASH FLOWS</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div><font style="font-family: Arial;">For the Year Ended October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Cash Flows from Operating Activities:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="font-family: &#38;quot; text-indent: 9pt;"><font style="font-family: Arial;">&#160;Net increase in net assets resulting from operations</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">53,264,511</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Adjustments to Reconcile Net Increase in Net Assets Resulting from Operations to</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Net Cash Provided by Operating and Investing Activities:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Net change in unrealized (appreciation) depreciation on investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(42,204,732</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Net change in unrealized (appreciation) depreciation on forward foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="font-family: &#38;quot; text-indent: 18pt;"><font style="font-family: Arial;">currency exchange contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">1,151,928</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Net change in unrealized (appreciation) depreciation on options written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">56,885</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Net realized loss on investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">6,130,747</font><font style="font-family: Arial;"></font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Net realized gain on options written</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(66,968</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Purchase of long-term investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(1,132,278,062</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Proceeds from sale of long-term investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">1,162,613,882</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Net purchases of short-term investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(2,533,308</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Return of capital distributions received from investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">103,050</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Net accretion of discount and amortization of premium</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(1,165,039</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Corporate actions and other payments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">473,236</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Premiums received on options written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">647,632</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Cost of closing options written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(785,689</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease investments sold receivable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">9,972,044</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in dividend receivable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">417,116</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Increase in interest receivable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(405,318</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in tax reclaims receivable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">219,675</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in other assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">71,458</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in investments purchased payable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(5,387,298</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in interest payable on margin loan</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(2,546</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in professional fees payable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(105,748</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in servicing fees payable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(2,913</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in due to custodian</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(858,165</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in investment advisory fees payable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(7,490</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div style="text-indent: 12pt;"><font style="font-family: Arial;">Decrease in merger fees payable</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(225,003</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="font-family: &#38;quot; text-indent: 9pt;"><font style="font-family: Arial;">&#160;Increase in other liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">118,387</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net Cash Provided by Operating and Investing Activities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
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            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">49,212,272</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Cash Flows From Financing Activities:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="font-family: &#38;quot; text-indent: 18pt;"><font style="font-family: Arial;">Distributions to common shareholders</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(48,556,272</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="font-family: &#38;quot; text-indent: 27pt;"><font style="font-family: Arial;">Net Cash Used in Financing Activities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(48,556,272</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="font-family: &#38;quot; text-indent: 18pt;"><font style="font-family: Arial;">Net increase in cash</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">656,000</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Cash at Beginning of Year</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Cash at End of Year</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">656,000</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial; font-weight: bold;">Supplemental Disclosure of Cash Flow Information:</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 4px; background-color: #CCEEFF;">
              <div style="font-family: &#38;quot; text-indent: 18pt;"><font style="font-family: Arial; font-weight: bold;">Cash paid during the year for interest</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #CCEEFF;" colspan="1">
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 4px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">14,251,765</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
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            <td style="width: 48.5%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 9.71%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 10.02%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 9.71%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 9.52%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 12.53%; vertical-align: middle; font-family: Arial;">&#160;</td>
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          <tr>
            <td style="width: 48.5%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">FINANCIAL HIGHLIGHTS</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 9.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.02%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.71%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 12.53%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial; border-bottom: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;"> 2019</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2018</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2017</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2016</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2015</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" colspan="20" style="vertical-align: middle; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Per Share Data:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Net asset value, beginning of period</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">16.20</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">17.63</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">16.26</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">17.11</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">19.00</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Income from investment operations:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Net investment income</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(a)</sup>&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">0.47</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">0.51</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">0.69</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">0.75</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">0.65</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Net gain (loss) on investments (realized and unrealized)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">1.08</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(0.54</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">1.86</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(0.47</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(1.41</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Total from investment operations</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">1.55</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(0.03</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">2.55</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">0.28</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(0.76</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Less distributions from:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Net investment income</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(0.56</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(0.58</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(0.75</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(0.74</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(0.76</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Return of capital</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(0.85</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(0.82</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(0.49</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(0.39</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(0.37</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Total distributions to shareholders</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(1.41</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(1.40</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(1.24</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(1.13</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(1.13</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Increase resulting from tender offer and repurchase of Common Shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">0.06</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Net asset value, end of period</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">16.34</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">16.20</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">17.63</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">16.26</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">17.11</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Market value, end of period</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">14.79</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">13.93</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">16.09</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">14.01</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">14.13</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Total Return</font><font style="font-family: Arial;"><sup style="font-weight: bold; vertical-align: text-top; line-height: 1; font-size: smaller;">(b)</sup>&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Net asset value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">9.94</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(0.34</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">%)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">16.55</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">1.94</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">(4.20</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">%)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Market value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">17.01</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">(5.22</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%)</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">7.57</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <div><font style="font-family: Arial;">(12.57</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
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              <div><font style="font-family: Arial; font-weight: bold;">Ratios/Supplemental Data:</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">564,148</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">559,440</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
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            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">353,389</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
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            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">383,513</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
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            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">403,555</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">See notes to financial statements.
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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">40 l<font style="font-weight: bold;"> AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT</div>
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      <div style="font-family: Arial;"><br>
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            <td style="width: 2.23%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 25.1%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 5.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 7.38%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 7.38%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 8.42%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 6.34%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 9.47%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 9.47%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 8.42%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 10.5%; vertical-align: middle; font-family: Arial;">&#160;</td>
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            <td style="width: 32.63%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="3">
              <div><font style="font-family: Arial; font-weight: bold;">FINANCIAL HIGHLIGHTS continued</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 7.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 7.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 8.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 6.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.47%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 9.47%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 8.42%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 10.5%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
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          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="11">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="11">
              <div>&#160;</div>
            </td>
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          <tr>
            <td valign="bottom" rowspan="1" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: bottom; font-family: Arial;">
              <div style="text-align: right; font-family: 'Times New Roman';"> <font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
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          <tr>
            <td valign="bottom" rowspan="1" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160; <br>
              </div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: bottom; font-family: Arial;">
              <div style="text-align: right; font-family: 'Times New Roman';"> <font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31,</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" rowspan="1" style="vertical-align: bottom; font-family: Arial; border-bottom: #000000 solid 2px;">
              <div>&#160;<br>
              </div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: bottom; font-family: Arial; border-bottom: #000000 solid 2px;">
              <div style="text-align: right; font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;"> 2019</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2018</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2017</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2016</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2015</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">&#160;</td>
          </tr>
          <tr>
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              <div style="text-indent: 3pt;"><font style="font-family: Arial;">Ratio to average net assets of:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" rowspan="1" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; font-family: Arial;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;">
              <div style="text-indent: 3pt;"><font style="font-family: Arial;">Net investment income, including interest expense</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">2.90</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">2.93</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <div><font style="font-family: Arial;">4.04</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">4.66</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">3.56</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">&#160;Total expenses, including interest expense</font><font style="font-family: Arial;"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(c),(d)</sup>&#160;</font></div>
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            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">4.11</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">3.87</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">2.72</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
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            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">2.92</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">2.48</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">%</font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">&#160;Portfolio turnover rate</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">123</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">121</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">110</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">98</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">117</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">%</font></div>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;">
              <div style="text-indent: 3pt;"><font style="font-family: Arial; font-weight: bold;">Senior Indebtedness:</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #CCEEFF;">
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            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
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            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">210,000</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">235,000</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">227,000</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">262,000</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 40%; background-color: #FFFFFF;">
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            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">3,686</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" rowspan="1" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">3,381</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">2,557</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">2,464</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">2,540</font></div>
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            <td valign="bottom" nowrap="nowrap" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;">&#160;</td>
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          <tr>
            <td valign="bottom" colspan="20" style="vertical-align: middle; font-family: Arial; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" colspan="1" style="font-family: Arial; vertical-align: bottom; background-color: #CCEEFF;">&#160;</td>
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          <tr>
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              <div><font style="font-family: Arial;">(a)</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 25.1%; vertical-align: bottom;">
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            <td style="width: 5.3%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 7.38%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.38%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 6.34%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 9.47%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 9.47%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2.23%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(b)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 97.77%; vertical-align: bottom;" colspan="10">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">Total 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 the net asset
                  value (&#8220;NAV&#8221;)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 2.23%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 97.77%; vertical-align: bottom;" colspan="10">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">or market price per share. Dividends and distributions are assumed to be reinvested at NAV for NAV returns or the prices obtained under the Fund&#8217;s Dividend Reinvestment Plan
                  for</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 2.23%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 45.16%; vertical-align: bottom;" colspan="4">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">market value returns. Total return does not reflect brokerage commissions.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 6.34%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.47%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.47%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2.23%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(c)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 97.77%; vertical-align: bottom;" colspan="10">
              <div><font style="font-family: Arial;">Expense ratio does not reflect the fees and expenses incurred directly by the Fund as a result of its investment in shares of business development companies. If these fees were included</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 2.23%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 97.77%; vertical-align: bottom;" colspan="10">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">in the expense ratio, the increase to the expense ratio would be approximately 0.00%, 0.00%, 0.00%, 0.01% and 0.01% for the years ended October 31, 2019, 2018, 2017, 2016 and
                  2015.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 2.23%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(d)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 53.58%; vertical-align: bottom;" colspan="5">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">Excluding interest expense, the operating expense ratios for the years ended October 31 would be:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 6.34%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.47%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.47%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 2%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2018</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2017</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2016</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">2015</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.57%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.62%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.49%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.52%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">1.42%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.5%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">(e)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);" colspan="10">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">Commencing on October 31, 2018, as a result of the Fund having earmarked or segregated cash to collateralize the reverse repurchase agreement transactions or otherwise having</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom;" colspan="10">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">covered the transactions, in accordance with releases and interpretive letters issued by the Securities and Exchange Commission (the &#8220;SEC&#8221;), the Fund does not treat its
                  obligations</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom; background-color: rgb(255, 255, 255);" colspan="6">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">under such transactions as senior securities representing indebtedness for purposes of the 1940 Act.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.5%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 2%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(f)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="vertical-align: bottom;" colspan="8">
              <div style="text-indent: 0.05pt;"><font style="font-family: Arial;">Calculated by subtracting the Fund&#8217;s total liabilities (not including the margin loan) from the Fund&#8217;s total assets and dividing by the margin loan.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.42%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;">
        <div style="font-family: 'Times New Roman';"><font style="font-family: Arial; font-style: italic;">See notes to financial statements.</font><font style="font-family: Arial;"> <br>
          </font>
          <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      </div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 41</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="ze4e75a5b263b45ada7923f1b9b187f48" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 64.65%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 35.35%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 64.65%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 35.35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 1 <font style="font-weight: bold;">&#8211; Organization</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent Convertible and Income Fund (the &#8220;Fund&#8221;) (formerly known as Advent Claymore Convertible Securities and Income Fund) was organized as a Delaware statutory trust on February
        19, 2003. The Fund is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the &#8220;1940 Act&#8221;).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund&#8217;s investment objective is to provide total return through a combination of capital appreciation and current income. The Fund pursues its investment objective by
        investing at least 80% of its managed assets in a diversified portfolio of convertible securities and non-convertible income producing securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 2 <font style="font-weight: bold;">&#8211; Significant Accounting Policies</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund operates as an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (&#8220;FASB&#8221;)
        Accounting Standards Codification Topic 946 Financial Services &#8211; Investment Companies.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following significant accounting policies are in conformity with U.S. generally accepted accounting principles (&#8220;U.S. GAAP&#8221;) and are consistently followed by the Fund. This
        requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and
        expenses during the reporting period. Actual results could differ from these estimates. All time references are based on Eastern Time.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(a) Valuation of Investments</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Board of Trustees of the Fund (the &#8220;Board&#8221;) has adopted policies and procedures for the valuation of the Fund&#8217;s investments (the &#8220;Valuation Procedures&#8221;). Pursuant to the
        Valuation Procedures, the Board has delegated to a valuation committee, consisting of representatives from investment management, finance, legal and compliance departments (the &#8220;Valuation Committee&#8221;), the day-to-day responsibility for implementing
        the Valuation Procedures, including, under most circumstances, the responsibility for determining the fair value of the Fund&#8217;s securities and/or other assets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Valuations of the Fund&#8217;s securities are supplied primarily by pricing services appointed pursuant to the processes set forth in the Valuation Procedures. The Valuation Committee
        convenes quarterly, or more frequently as needed, to review the valuation of all assets which have been fair valued for reasonableness. The Fund&#8217;s officers, through the Valuation Committee and consistent with the monitoring and review
        responsibilities set forth in the Valuation Procedures, regularly review procedures used and valuations provided by the pricing services.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">If the pricing service cannot or does not provide a valuation for a particular investment or such valuation is deemed unreliable, such investment is fair valued by the Valuation
        Committee.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Securities listed on an exchange or on an over-the-counter market will be valued at the last reported sale price on the primary exchange or market on which they are traded;
        provided, however, that securities listed on the National Association of Securities Dealers Automated Quotations (&#8220;NASDAQ&#8221;) National Market system will be valued at the NASDAQ Official Closing Price, which may not necessarily represent the last
        sale price.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">42 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zb01dd7d3daf84960b0f018f7c9495900" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Equity securities that are traded on an exchange or on the over-the-counter market and for which there are no transactions on a given day are valued at the mean of the closing
        bid and asked prices.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Open-end investment companies are valued at their net asset value (&#8220;NAV&#8221;) as of the close of business, on the valuation date. Exchange-traded funds and closed-end investment
        companies are valued at the last quoted sale price.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Generally, trading in foreign securities markets is substantially completed each day at various times prior to the close of the New York Stock Exchange (&#8220;NYSE&#8221;). The values of
        foreign securities are determined as of the close of such foreign markets or the close of the NYSE, if earlier. All investments quoted in foreign currencies are valued in U.S. dollars on the basis of the foreign currency exchange rates prevailing
        at the close of U.S. business at 4:00 p.m. Investments in foreign securities may involve risks not present in domestic investments. The Valuation Committee will determine the current value of such foreign securities by taking into consideration
        certain factors which may include those discussed above, as well as the following factors, among others: the value of the securities traded on other foreign markets, ADR trading, closed-end fund trading, foreign currency exchange activity, and the
        trading prices of financial products that are tied to foreign securities. In addition, under the Valuation Procedures, the Valuation Committee is authorized to use prices and other information supplied by a third party pricing vendor in valuing
        foreign securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Debt securities are valued based on prices provided by pricing services or, if not available or if Advent Capital Management, LLC (&#8220;Advent&#8221; or the &#8220;Investment Adviser&#8221;) considers
        that price to not represent fair value, by dealers using the mean of the closing bid and asked prices for such securities or, if such prices are not available, at prices for securities of comparable maturity, quality and type. If sufficient market
        activity is limited or does not exist, the pricing services or dealers may utilize proprietary valuation models which may, for example, consider market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads,
        estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, or other unique security features in order to estimate relevant cash flows, which are then discounted to calculate a security&#8217;s fair value.
        Short-term securities with remaining maturities of 60 days or less at the time of valuation are valued at amortized cost, which approximates market value. Short-term securities which have a term-to-maturity greater than 60 days from the date of
        purchase are valued at their current market quotations until maturity or disposition. Convertible securities are valued in the same manner as debt securities. Repurchase agreements are valued at amortized cost, provided such amounts approximate
        market value.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Typically, loans are valued using information provided by an independent third party pricing service which uses broker quotes. If the pricing service cannot or does not provide a
        valuation for a particular investment or such valuation is deemed unreliable, such investment is fair valued by the Valuation Committee.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Listed options are valued at the Official Settlement Price listed in by the exchange, usually as of 4:00 p.m. Long options are valued using the bid price and short options are
        valued using the ask price. In the event that a settlement price is not available, fair valuation is enacted. Over-the-counter (&#8220;OTC&#8221;) options are valued using the average bid price (for long options), or average ask price (for short options)
        obtained from one or more security dealers.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND
        INCOME FUND ANNUAL REPORT l 43</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z0cf10349d1fe419ea681c204407e6462" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Forward foreign currency exchange contracts are valued by pricing services or, if not available or if Advent considers that price to not represent fair value, by dealers using
        the mid price. Futures contracts are valued using the settlement price established each day on the exchange on which they are traded.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Valuations in accordance with these methods are intended to reflect each security&#8217;s (or asset&#8217;s or liability&#8217;s) &#8220;fair value&#8221;. Each such determination is based on a consideration
        of all relevant factors, which are likely to vary from one pricing context to another. Examples of such factors may include, but are not limited to market prices; sale prices; broker quotes; and models which derive prices based on inputs such as
        prices of securities with comparable maturities and characteristics, or based on inputs such as anticipated cash flows or collateral, spread over U.S. Treasuries, and other information analysis.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(b) Investment Transactions and Investment Income</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Investment transactions are accounted for on the trade date. Realized gains and losses on investments are determined on the identified cost basis. Dividend income is recorded net
        of applicable withholding taxes on the ex-dividend date and interest income is recorded on an accrual basis. Discounts or premiums on debt securities purchased are accreted or amortized to interest income over the lives of the respective securities
        using the effective interest method.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(c) Convertible Securities</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund invests in convertible securities, preferred stocks and fixed-income securities which are convertible into common stock. Convertible securities may be converted either
        at a stated price or rate within a specified period of time into a specified number of shares of common stock. Most commonly, convertible securities have paid dividends or interest greater than on the related common stocks, but less than fixed
        income non-convertible securities. By investing in a convertible security, the Fund may participate in any capital appreciation or depreciation of a company&#8217;s stock, but to a lesser degree than if it had invested in that company&#8217;s common stock.
        Convertible securities rank senior to common stock in a corporation&#8217;s capital structure and, therefore, entail less risk than the corporation&#8217;s common stock.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(d) Senior Floating Rate Interests</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Senior floating rate interests in which the Fund invests generally pay interest rates which are periodically adjusted by reference to a base short-term floating rate, plus a
        premium. These base lending rates are generally (i) the lending rate offered by one or more major European banks, such as the one-month or three-month London Inter-Bank Offered Rate (&#8220;LIBOR&#8221;), (ii) the prime rate offered by one or more major United
        States banks, or (iii) the bank&#8217;s certificate of deposit rate. Senior floating rate interests often require repayments from excess cash flows or permit the borrower to repay at its election. The rate at which the borrower repays cannot be predicted
        with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown on the Schedule of Investments.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(e) Currency Translation</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The accounting records of the Fund are maintained in U.S. dollars. All assets and liabilities initially expressed in foreign currencies are converted into U.S. dollars at
        prevailing exchange rates. Purchases and sales of investment securities, dividend and interest income, and certain expenses are translated at the rates of exchange prevailing on the respective dates of such transactions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">44 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z2424419f46554a19b85947023076757f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund does not isolate that portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in
        market prices of securities held. Such fluctuations are included with the net realized gain or loss and unrealized appreciation or depreciation on investments.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Foreign exchange realized gain or loss resulting from holding of a foreign currency, expiration of a currency exchange contract, difference in exchange rates between the trade
        date and settlement date of an investment purchased or sold, and the difference between dividends or interest actually received compared to the amount shown in the Fund&#8217;s accounting records on the date of receipt, if any, is shown as net realized
        gains or losses on foreign currency transactions on the Fund&#8217;s Statement of Operations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Foreign exchange unrealized appreciation or depreciation on assets and liabilities, other than investments, if any, is shown as unrealized appreciation (depreciation) on foreign
        currency translation on the Fund&#8217;s Statement of Operations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(f) Forward Foreign Currency Exchange Contracts</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Forward foreign currency exchange contracts are agreements between two parties to buy and sell currencies at a set price on a future date. Fluctuations in the value of open
        forward foreign currency exchange contracts are recorded for financial reporting purposes as unrealized appreciation and depreciation by the Fund until the contracts are closed. When the contracts are closed, realized gains and losses are recorded,
        and included on the Statement of Operations in forward foreign currency exchange contracts.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(g) Distributions to Shareholders</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund declares and pays monthly distributions to common shareholders. These distributions consist of investment company taxable income, which generally includes qualified
        dividend income, ordinary income and short-term capital gains. Any net realized long-term capital gains are distributed annually to common shareholders. To the extent distributions exceed taxable income, the excess will be deemed a return of
        capital.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Distributions to shareholders are recorded on the ex-dividend date. The amount and timing of distributions are determined in accordance with U.S. federal income tax regulations,
        which may differ from U.S. GAAP.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(h) Covered Call Options and Put Options</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">When an option is written, the premium received is recorded as an asset with an equal liability and is subsequently marked to market to reflect the current market value of the
        option written. These liabilities are reflected as options written on the Statement of Assets and Liabilities. Premiums received from writing options which expire unexercised are recorded on the expiration date as a realized gain. The difference
        between the premium received and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain, or if the premium is less than the amount paid for the closing purchase transactions,
        as a realized loss. If an option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether there has been a realized gain or loss.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 45</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z2f320539667d4aa6ba4373a588f1ec3e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">When a call option is purchased, the Fund obtains the right (but not the obligation) to buy the underlying instrument at the strike price at anytime during the option period.
        When a put option is purchased, the Fund obtains the right (but not the obligation) to sell the option&#8217;s underlying instrument at the strike price at anytime during the option period. When the Fund purchases an option, an amount equal to the
        premium paid by the Fund is reflected as an asset and subsequently marked-to-market to reflect the current market value of the option purchased. Purchased options are included with Investments on the Statement of Assets and Liabilities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(i) Certain Risks and Other Considerations</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In the normal course of business, the Fund trades financial instruments and enters into financial transactions where risk of potential loss exists due to, among other things,
        changes in the market (market risk) or the potential inability of a counterparty to meet the terms of an agreement (counterparty risk). The Fund is also exposed to other risks such as, but not limited to, convertible securities, equity securities,
        illiquid securities, leverage concentration, interest rate and credit risks.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Investment and Market Risk. </font><font style="font-family: Arial;">An investment in the Fund&#8217;s common shares is subject to investment risk,
          including the possible loss of the entire principal amount that you invest. An investment in the Fund&#8217;s common shares represents an indirect investment in the securities owned by the Fund. The value of the securities owned by the Fund may
          fluctuate, sometimes rapidly and unpredictably, which will affect the NAV and may affect the market price of the common shares. The value of securities owned by the Fund may decline due to general market conditions that are not specifically
          related to a particular issuer, such as real or perceived economic conditions, changes in interest or currency rates or changes in investor sentiment or market outlook generally. At any point in time, your common shares may be worth less than
          your original investment, including the reinvestment of the Fund&#8217;s dividends and distributions.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Convertible Securities Risk. </font><font style="font-family: Arial;">The market value of a convertible security is a function of its
          &#8220;investment value&#8221; and its &#8220;conversion value.&#8221; A security&#8217;s &#8220;investment value&#8221; represents the value of the security without its conversion feature (i.e., a nonconvertible fixed income security). The investment value may be determined by reference
          to its credit quality and the current value of its yield to maturity or probable call date. At any given time, investment value is dependent upon such factors as the general level of interest rates, the yield of similar nonconvertible securities,
          the financial strength of the issuer, and the seniority of the security in the issuer&#8217;s capital structure. A security&#8217;s &#8220;conversion value&#8221; is determined by multiplying the number of shares the holder is entitled to receive upon conversion or
          exchange by the current price of the underlying security. If the conversion value of a convertible security is significantly below its investment value, the convertible security will trade like nonconvertible debt or preferred stock and its
          market value will not be influenced greatly by fluctuations in the market price of the underlying security. In that circumstance, the convertible security takes on the characteristics of a bond, and its price moves in the opposite direction from
          interest rates. Conversely, if the conversion value of a convertible security is near or above its investment value, the market value of the convertible security will be more heavily influenced by fluctuations in the market price of the
          underlying security. In that case, the convertible security&#8217;s price may be as volatile as that of common stock. Because both interest rates and market movements can influence its value, a convertible security generally is not as sensitive to
          interest rates as a similar fixed income security, nor is it as sensitive to changes in share price as its underlying equity security. Convertible securities are often rated below investment grade or are not rated.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">46 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z2336f36785ed419fb08c8bd3d2439a74" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Although all markets are prone to change over time, the generally high rate at which convertible securities are retired (through mandatory or scheduled conversions by issuers or
        through voluntary redemptions by holders) and replaced with newly issued convertibles may cause the convertible securities market to change more rapidly than other markets. For example, a concentration of available convertible securities in a few
        economic sectors could elevate the sensitivity of the convertible securities market to the volatility of the equity markets and to the specific risks of those sectors. Moreover, convertible securities with innovative structures, such as
        mandatory-conversion securities and equity-linked securities, have increased the sensitivity of the convertible securities market to the volatility of the equity markets and to the special risks of those innovations, which may include risks
        different from, and possibly greater than, those associated with traditional convertible securities. A convertible security may be subject to redemption at the option of the issuer at a price set in the governing instrument of the convertible
        security.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">If a convertible security held by the Fund is subject to such redemption option and is called for redemption, the Fund must allow the issuer to redeem the security, convert it
        into the underlying common stock, or sell the security to a third party.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">As a result of the conversion feature, convertible securities typically offer lower interest rates than if the securities were not convertible. During periods of rising interest
        rates, it is possible that the potential for capital gain on convertible securities may be less than that of a common stock equivalent if the yield on the convertible security is at a level that would cause it to sell at discount.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Also, in the absence of adequate anti-dilution provisions in a convertible security, dilution in the value of the Fund&#8217;s holding may occur in the event the underlying stock is
        subdivided, additional securities are issued, a stock dividend is declared, or the issuer enters into another type of corporate transaction which increases its outstanding securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Equity Securities Risk. </font><font style="font-family: Arial;">Equity securities risk is the risk that the value of the securities held by the
          Fund will fall due to general market and economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate or factors relating to specific companies in which the Fund invests. Stock of an
          issuer in the Fund&#8217;s portfolio may decline in price if the issuer fails to make anticipated dividend payments because, among other reasons, the issuer of the security experiences a decline in its financial condition. Common stock in which the
          Fund may invest is structurally subordinated to preferred stock, bonds and other debt instruments in a company&#8217;s capital structure, in terms of priority to corporate income, and therefore will be subject to greater dividend risk than preferred
          stock or debt instruments of such issuers. In addition, while common stock has historically generated higher average returns than fixed income securities, common stock has also experienced significantly more volatility in those returns. An
          adverse event, such as an unfavorable earnings report, may depress the value of common stock of an issuer held by the Fund. Common stocks are susceptible to general stock market fluctuations and to volatile increases and decreases in value as
          market confidence in and perceptions of their issuers change. These investor perceptions are based on various and unpredictable factors including expectations regarding: government, economic, monetary and fiscal policies; inflation and interest
          rates; economic expansion or contraction; and global or regional political, economic and banking crises.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 47</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z00ad353175b844788456445e429c4ae1" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Illiquid Securities Risk. </font><font style="font-family: Arial;">Illiquid securities may be difficult to dispose of at a fair price at the
          times when the Fund believes it is desirable to do so. The market price of illiquid securities generally is more volatile than that of more liquid securities, which may adversely affect the price that the Fund pays for or recovers upon the sale
          of illiquid securities. Illiquid securities are also more difficult to value and the manager&#8217;s judgment may play a greater role in the valuation process. Investment of the Fund&#8217;s assets in illiquid securities may restrict the Fund&#8217;s ability to
          take advantage of market opportunities. The risks associated with illiquid securities may be particularly acute in situations in which the Fund&#8217;s operations require cash and could result in the Fund borrowing to meet its short-term needs or
          incurring losses on the sale of illiquid securities. Although many of the Rule 144A Securities in which the Fund invests may be, in the view of the manager, liquid, if qualified institutional buyers are unwilling to purchase these Rule 144A
          Securities, they may become illiquid.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Leverage Risk. </font><font style="font-family: Arial;">The use of leverage may result in higher income to common shareholders over time;
          however, there can be no assurance that these expectations will be realized or that a leveraging strategy will be successful in any particular time period. Use of leverage creates an opportunity for increased income and capital appreciation but,
          at the same time, creates special risks. Leverage is a speculative technique that exposes the Fund to greater risk and increased costs than if it were not implemented. There can be no assurance that a leveraging strategy will be utilized or will
          be successful.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The use of leverage by the Fund will cause the NAV, and possibly the market price, of the Fund&#8217;s common shares to fluctuate significantly in response to changes in interest rates
        and other economic indicators. As a result, the NAV and market price and dividend rate of the common shares of the Fund is likely to be more volatile than those of a closed-end management investment company that is not exposed to leverage. In a
        declining market the use of leverage may result in a greater decline in the NAV of the common shares than if the Fund were not leveraged.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Leverage will increase operating costs, which may reduce total return. The Fund will have to pay interest on its indebtedness, if any, which may reduce the Fund&#8217;s return. This
        interest expense may be greater than the Fund&#8217;s return on the underlying investment, which would negatively affect the performance of the Fund. Increases in interest rates that the Fund must pay on its indebtedness will increase the cost of
        leverage and may reduce the return to common shareholders. This risk may be greater in the current market environment because interest rates are near historically low levels.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Certain types of indebtedness subject the Fund to covenants in credit agreements relating to asset coverage and portfolio composition requirements. Certain indebtedness issued by
        the Fund also may be subject to certain restrictions on investments imposed by guidelines of one or more rating agencies, which may issue ratings for such indebtedness. These guidelines may impose asset coverage or portfolio composition
        requirements that are more stringent than those imposed by the 1940 Act.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Reverse repurchase agreements involve the risks that the interest income earned on the investment of the proceeds will be less than the interest expense and Fund expenses
        associated with the repurchase agreement, that the market value of the securities sold by the Fund may decline below the price at which the Fund is obligated to repurchase such securities and that the securities may not be returned to the Fund.
        There is no assurance that reverse repurchase agreements can be</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">48 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zc8cae1167e58440489a45473f01aabec" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">successfully employed. In connection with reverse repurchase agreements, the Fund will also be subject to counterparty risk with respect to the purchaser of the securities. If
        the broker/dealer to whom the Fund sells securities becomes insolvent, the Fund&#8217;s right to purchase or repurchase securities may be restricted.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund may have leverage outstanding during a shorter-term period during which such leverage may not be beneficial to the Fund if it believes that the long-term benefits to
        common shareholders of such leverage would outweigh the costs and portfolio disruptions associated with redeeming and reissuing such leverage. However, there can be no assurance that the Fund&#8217;s judgment in weighing such costs and benefits will be
        correct.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">During the time in which the Fund is utilizing leverage, the amount of the fees paid for investment advisory services will be higher than if the Fund did not utilize leverage
        because the fees paid will be calculated based on the Fund&#8217;s managed assets, including proceeds of leverage. This may create a conflict of interest between the Adviser and the common shareholders, as common shareholders bear the portion of the
        investment advisory fee attributable to the assets purchased with the proceeds of leverage, which means that common shareholders effectively bear the entire advisory fee.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In addition, the Fund may engage in certain derivatives transactions that have economic characteristics similar to leverage. The Fund intends to earmark or segregate cash or
        liquid securities or otherwise cover such transactions in accordance with applicable interpretations of the staff of the SEC. Securities so segregated or designated as &#8220;cover&#8221; will be unavailable for sale (unless replaced by other securities
        qualifying for segregation or cover requirements), which may adversely affect the ability of the Fund to pursue its investment objective.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund may be required to pay a commitment fee on unused portions of its credit facility. In connection with the use of leverage, the Fund may enter into interest rate swap or
        cap transactions, either separately or as a component of its credit facility in order to fix its borrowing costs. In the event the Fund elects or are required to de-lever, the Fund may be required to pay early termination payments and other
        breakage costs associated with the termination of the interest rate swap or cap transaction. While such transactions are intended to reduce the risks associated with an increase in short-term interest rates, the use of interest rate swaps and caps
        involves investment techniques and risks different from those associated with ordinary portfolio security transactions. Depending on the state of interest rates in general, the Fund&#8217;s use of interest rate instruments could enhance or harm the
        overall performance of the Fund&#8217;s common shares.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Credit Risk. </font><font style="font-family: Arial;">Credit risk is the risk that one or more income securities in the Fund&#8217;s portfolio will
          decline in price, or fail to pay interest and principal when due, because the issuer of the security experiences a decline in its financial status. The Fund&#8217;s investments in income securities involve credit risk. However, in general, lower rated,
          lower grade and non-investment grade securities carry a greater degree of risk that the issuer will lose its ability to make interest and principal payments, which could have a negative impact on the Fund&#8217;s NAV or dividends.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Interest Rate Risk. </font><font style="font-family: Arial;">Convertible and nonconvertible income-producing securities including preferred
          stock and debt securities (collectively, &#8220;income securities&#8221;) are subject to certain interest rate risks. If interest rates go up, the value of income securities in the Fund&#8217;s portfolio generally will decline. These risks may be greater in the
          current market environment because interest rates are near</font></div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND
        INCOME FUND ANNUAL REPORT l 49</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zd2fb8a0e87bc44018b70895288e26869" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">historically low levels. During periods of rising interest rates, the average life of certain types of income securities may be extended because of slower than expected principal
        payments. This may lock in a below market interest rate, increase the security&#8217;s duration (the estimated period until the security is paid in full) and reduce the value of the security. This is known as extension risk. During periods of declining
        interest rates, the issuer of a security may exercise its option to prepay principal earlier than scheduled, forcing the Fund to reinvest in lower yielding securities. This is known as call or prepayment risk. Lower grade securities have call
        features that allow the issuer to repurchase the security prior to its stated maturity. An issuer may redeem a lower grade security if the issuer can refinance the security at a lower cost due to declining interest rates or an improvement in the
        credit standing of the issuer.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Lower Grade Securities Risk. </font><font style="font-family: Arial;">Investing in lower grade and non-investment grade securities involves
          additional risks. Securities of below investment grade quality are commonly referred to as &#8220;junk bonds&#8221; or &#8220;high yield securities.&#8221; Investment in securities of below investment grade quality involves substantial risk of loss. Securities of below
          investment grade quality are predominantly speculative with respect to the issuer&#8217;s capacity to pay interest and repay principal when due and therefore involve a greater risk of default or decline in market value due to adverse economic and
          issuer specific developments. Issuers of below investment grade securities are not perceived to be as strong financially as those with higher credit ratings. Issuers of lower grade securities may be highly leveraged and may not have available to
          them more traditional methods of financing. Therefore, the risks associated with acquiring the securities of such issuers generally are greater than is the case with higher rated securities. These issuers are more vulnerable to financial setbacks
          and recession than more creditworthy issuers, which may impair their ability to make interest and principal payments. The issuer&#8217;s ability to service its debt obligations also may be adversely affected by specific issuer developments, the
          issuer&#8217;s inability to meet specific projected business forecasts or the unavailability of additional financing. Therefore, there can be no assurance that in the future there will not exist a higher default rate relative to the rates currently
          existing in the market for lower grade securities. The risk of loss due to default by the issuer is significantly greater for the holders of lower grade securities because such securities may be unsecured and may be subordinate to other creditors
          of the issuer. Securities of below investment grade quality display increased price sensitivity to changing interest rates and to a deteriorating economic environment. The market values for securities of below investment grade quality tend to be
          more volatile and such securities tend to be less liquid than investment grade debt securities. To the extent that a secondary market does exist for certain below investment grade securities, the market for them may be subject to irregular
          trading activity, wide bid/ask spreads and extended trade settlement periods.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Foreign Securities and Emerging Markets Risk. </font><font style="font-family: Arial;">Investing in non-U.S. issuers may involve unique risks,
          such as currency, political, economic and market risk. In addition, investing in emerging markets entails additional risk including, but not limited to: news and events unique to a country or region; smaller market size, resulting in lack of
          liquidity and price volatility; certain national policies which may restrict the Fund&#8217;s investment opportunities; less uniformity in accounting and reporting requirements; unreliable securities valuation; and custody risk.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Counterparty Risk. </font><font style="font-family: Arial;">The Fund is subject to counterparty credit risk, which is the risk that the
          counterparty fails to perform on agreements with the Fund such as swap and option contracts, and reverse repurchase agreements.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">50 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z8c18ebccb3134585be4a47540440b788" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">LIBOR Risk. </font><font style="font-family: Arial;">The London Interbank Offered Rate (&#8220;LIBOR&#8221;) as a reference or benchmark interest rate in
          the U.S. and globally for commercial and financial contracts. LIBOR is used as a benchmark rate for floating rate debt, bank loans, derivatives and other borrowings or debt securities. The Fund has leverage arrangements that require the Fund to
          pay a floating rate of interest based on LIBOR. In addition, the Fund may invest in instruments that pay a floating rate of interest based on LIBOR. In July 2017, the head of the United Kingdom Financial Conduct Authority announced the desire to
          phase out the use of LIBOR by the end of 2021. Abandonment of or modifications to LIBOR could have adverse impacts on newly issued financial instruments and existing financial instruments which reference LIBOR. It is expected that a number of
          private-sector banks currently reporting information used to set LIBOR will stop doing so after 2021 when their current reporting commitment ends. The U.S. and other countries are currently working to replace LIBOR with alternative reference
          rates. There is currently no definitive information regarding the future utilization of LIBOR and the nature of any replacement rate. The expected discontinuation of LIBOR, and the transition to an alternative benchmark rate, may require
          renegotiation by the Fund of certain of its investment instruments and its leverage arrangements. Moreover, the discontinuation of LIBOR and the transition to an alternative benchmark rate may adversely impact the functioning, liquidity,
          volatility, and value of floating rate income securities and could lead to significant short-term and long-term uncertainty and market instability. These risks will be exacerbated if the work necessary to effect an orderly transition to an
          alternative reference rate is not completed in a timely manner. These events may also increase the difficulty of borrowing or refinancing and may diminish the effectiveness of hedging strategies. The precise impacts of a transition away from
          LIBOR on the Fund, on floating rate income securities in which the Fund may invest, and on the financing market generally remain uncertain. Additionally, because the usefulness of LIBOR as a benchmark could deteriorate during the transition
          period, these effects could occur prior to the end of 2021.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">(j) Indemnifications</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Under the Fund&#8217;s organizational documents, its Trustees and Officers are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In
        addition, throughout the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties which provide general indemnifications. The Fund&#8217;s maximum exposure under these arrangements is unknown, as
        this would involve future claims that may be made against the Fund and/or its affiliates that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 3 <font style="font-weight: bold;">&#8211; Derivatives</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">As part of its investment strategy, the Fund utilizes derivative instruments. These investments involve, to varying degrees, elements of market risk and risks in excess of
        amounts recognized in the Statement of Assets and Liabilities. Valuation and accounting treatment of these instruments can be found under Significant Accounting Policies in Note 2 of these Notes to Financial Statements.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Derivatives are instruments whose values depend on, or are derived from, in whole or in part, the value of one or more other assets, such as securities, currencies, commodities
        or indices. Derivative instruments may be used to increase investment flexibility (including to maintain cash reserves while maintaining exposure to certain other assets), for risk management (hedging) purposes, to facilitate trading, to reduce
        transaction costs and to pursue higher investment returns. Derivative</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 51</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z3c4dc6b5ffc148918e57a71de82a143b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">instruments may also be used to mitigate certain investment risks, such as foreign currency exchange rate risk, interest rate risk and credit risk. U.S. GAAP requires disclosures
        to enable investors to better understand how and why a Fund uses derivative instruments, how these derivative instruments are accounted for and their effects on the Fund's financial position and results of operations.<br>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund utilized derivatives for the following purposes:</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Hedge </font><font style="font-family: Arial;">&#8211; an investment made in order to seek to reduce the risk of adverse price movements in a
          security, by taking an offsetting position to protect against broad market moves.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt;"><font style="font-family: Arial; font-weight: bold;">Incom</font><font style="font-family: Arial;">e &#8211; the use of any instrument that distributes cash flows typically based upon some rate of
          interest.</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Options Purchased and Written</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">A call option on a security gives the purchaser of the option the right to buy, and the writer of a call option the obligation to sell, the underlying security. The purchaser of
        a put option has the right to sell, and the writer of the put option the obligation to buy, the underlying security at any time during the option period. The risk associated with purchasing options is limited to the premium originally paid.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The risk in writing a call option is that a Fund may incur a loss if the market price of the underlying security increases and the option is exercised. The risk in writing a put
        option is that a Fund may incur a loss if the market price of the underlying security decreases and the option is exercised. In addition, there may be an imperfect correlation between the movement in prices of options and the underlying securities
        where a Fund may not be able to enter into a closing transaction because of an illiquid secondary market; or, for OTC options, a Fund may be at risk because of the counterparty&#8217;s inability to perform.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following table represents the Fund&#8217;s use and volume of call options written on a monthly basis:</div>
      <table cellspacing="0" cellpadding="0" id="zfec7cbb82be64a08973fed5326f747fe" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 46.48%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 53.52%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Average Notional</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 46.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Use</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 53.52%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 46.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Income</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 53.52%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 1,963,750</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Forward Foreign Currency Exchange Contracts</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">A forward foreign currency exchange contract is an agreement between two parties to exchange two designated currencies at a specific time in the future. Certain types of
        contracts may be cash settled, in an amount equal to the change in exchange rates during the term of the contract. The contracts can be used to hedge or manage exposure to foreign currency risks with portfolio investments or to gain exposure to
        foreign currencies.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The market value of a forward foreign currency exchange contract changes with fluctuations in foreign currency exchange rates. Furthermore, the Fund may be exposed to risk if the
        counterparties cannot meet the contract terms or if the currency value changes unfavorably as compared to the U.S.&#160;dollar.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">52 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zf622d21131734a1586083d5defb0bd1b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following table represents the Fund&#8217;s use, and volume of forward foreign currency exchange contracts on a monthly basis:</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z97fb9cede64a44efa5ba0ea07f1aef8a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 80%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2" rowspan="1">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">Average Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 80%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">Use</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Purchased</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;" rowspan="1">
              <div style="text-align: right; font-family: 'Times New Roman';">&#160;<font style="font-family: Arial; font-weight: bold;">Sold</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 80%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Hedge</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 3,804,052</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 47,648,489</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Derivative Investment Holdings Categorized by Risk Exposure</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following is a summary of the location of derivative investments on the Fund&#8217;s Statement of Assets and Liabilities as of October 31, 2019:</div>
      <table cellspacing="0" cellpadding="0" id="z7b318cd0d963483aabedc1eca30fba96" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 44.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Derivative Investment Type</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 38.38%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Asset Derivatives</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 17.18%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Liability Derivatives</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 44.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Currency contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 38.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">Unrealized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 17.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">Unrealized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 44.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 38.38%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">appreciation</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 17.18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">depreciation</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 44.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 38.38%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">on forward</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 17.18%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">on forward</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 44.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 38.38%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">foreign currency</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 17.18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">foreign currency</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 44.44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 38.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">exchange contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 17.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">exchange contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 44.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Equity contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 38.38%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 17.18%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">Options written,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 44.44%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 38.38%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 17.18%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">at value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following table sets forth the fair value of the Fund&#8217;s derivative investments categorized by primary risk exposure at October 31, 2019:</div>
      <table cellspacing="0" cellpadding="0" id="z50ab857e43d54dd08929c1badb197c5f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 47.97%; vertical-align: bottom; border-bottom: #000000 2px solid;" rowspan="1" colspan="3">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">Asset Derivative Investments Value</font><font style="font-family: Arial;">&#160;</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial;">Forward Foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.57%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 23.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial;">Currency Exchange</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.57%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 23.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial;">Risk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 23.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 133,941</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 23.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" rowspan="1" colspan="3">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">Liability Derivative Investments Value</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 28.57%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial;">Forward Foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.46%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial;">Total Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">Options Written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.57%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">Currency Exchange</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.46%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">at October 31,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">Equity Risk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">Risk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 47.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 340,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 388,723</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 728,723</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following is a summary of the location of derivative investments on the Fund&#8217;s Statement of Operations for the year ended October 31, 2019:</div>
      <table cellspacing="0" cellpadding="0" id="z5368a871b255481ca1d19826341f4bb3" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 31.32%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 68.68%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Location of Gain (Loss)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.32%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">Derivative Investment Type</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 68.68%; vertical-align: bottom; border-bottom: 4px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">on Derivatives</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.32%; vertical-align: top; font-family: Arial; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div>Currency contracts</div>
            </td>
            <td style="width: 68.68%; vertical-align: top; font-family: Arial; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;">Net realized gain (loss) on forward foreign currency exchange contracts </div>
              <div style="text-align: right;">Net change in unrealized appreciation (depreciation) on forward foreign currency exchange contracts</div>
            </td>
          </tr>
          <tr>
            <td style="width: 31.32%; vertical-align: top; font-family: Arial; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div>Equity contracts</div>
            </td>
            <td style="width: 68.68%; vertical-align: top; font-family: Arial; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;">Net realized gain (loss) on options written </div>
              <div style="text-align: right;">Net change in unrealized appreciation (depreciation) on options written</div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 53</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zbac644faac24464782adb0ce443c31e3" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following is a summary of the Fund&#8217;s realized gain (loss) and change in unrealized appreciation (depreciation) on derivative investments recognized on the Statement of
        Operations categorized by primary risk exposure for the year ended October 31, 2019:</div>
      <table cellspacing="0" cellpadding="0" id="z451333a9fb80418ca7b8d298d80031e1" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 100%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="3" rowspan="1">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">Realized Gain (Loss) on Derivative Investments Recognized on the Statement of Operations:</font><font style="font-family: Arial;">&#160;</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Forward</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Options</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Currency</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Equity</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Exchange</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Risk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Risk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Total</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 66,968</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 2,083,374</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 2,150,342</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 86.88%; vertical-align: bottom; background-color: rgb(255, 255, 255);" colspan="3" rowspan="1">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">Change in Unrealized Appreciation (Depreciation) on Derivative Investments</font><font style="font-family: Arial;">&#160;</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1" colspan="3">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">Recognized on the Statement of Operations</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Forward</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Options</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Written</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Currency</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Equity</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Exchange</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Risk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Risk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Total</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (56,885)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.14%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (1,151,928)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.12%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (1,208,813)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In conjunction with the use of derivative instruments, the Fund is required to maintain collateral in various forms. Depending on the financial instrument utilized and the broker
        involved, the Fund uses margin deposits at the broker, cash and/or securities segregated at the custodian bank, discount notes or repurchase agreements allocated to the Fund as collateral.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund has established counterparty credit guidelines and enters into transactions only with financial institutions of investment grade or better. The Fund monitors the
        counterparty credit risk.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 4 <font style="font-weight: bold;">&#8211; Offsetting</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In the normal course of business, the Fund enters into transactions subject to enforceable master netting arrangements or other similar arrangements. Generally, the right to
        offset in those agreements allows the Fund to counteract the exposure to a specific counterparty with collateral received or delivered to that counterparty based on the terms of the arrangements. These arrangements provide for the right to
        liquidate upon the occurrence of an event of default, credit event upon merger or additional termination event.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In order to better define their contractual rights and to secure rights that will help the Fund mitigate its counterparty risk, the Fund may enter into an International Swaps and
        Derivatives Association, Inc. Master Agreement (&#8220;ISDA Master Agreement&#8221;) or similar agreement with its derivative contract counterparties. An ISDA Master Agreement is a bilateral agreement between a fund and a counterparty that governs OTC
        derivatives, including foreign exchange contracts, and typically contains, among other things, collateral posting terms and netting provisions in the event of a default and/or termination event. The provisions of the ISDA Master Agreement typically
        permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">For derivatives traded under an ISDA Master Agreement, the collateral requirements are typically calculated by netting the mark-to-market amount for each transaction under such
        agreement and comparing that amount to the value of any collateral currently pledged by the Fund and the</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">54 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z8bdd7cf775b94e68b60de25fe5060ff8" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">counterparty. For financial reporting purposes, cash collateral that has been pledged to cover obligations of the Fund and cash collateral received from the counterparty, if any,
        are reported separately on the Statement of Assets and Liabilities as segregated cash with broker/receivable for variation margin, or payable for swap settlement/variation margin. Cash and/or securities pledged or received as collateral by the Fund
        in connection with an OTC derivative subject to an ISDA Master Agreement generally may not be invested, sold or rehypothecated by the counterparty or the Fund, as applicable, absent an event of default under such agreement, in which case such
        collateral generally may be applied towards obligations due to and payable by such counterparty or the Fund, as applicable. Generally, the amount of collateral due from or to a counterparty must exceed a minimum transfer amount threshold (e.g.,
        $300,000) before a transfer is required to be made. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty nonperformance. The Fund
        attempts to mitigate counterparty risk by only entering into agreements with counterparties that it believes to be of good standing and by monitoring the financial stability of those counterparties.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and
        Liabilities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following tables present derivative financial instruments and secured financing transactions that are subject to enforceable netting arrangements and offset in the Statement
        of Assets and Liabilities in conformity with U.S. GAAP.</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z5d7548bb8a114673a758dd273a2823b7" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 14.55%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 11.44%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 11.44%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 11.44%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 11.44%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 11%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 10%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 10.4%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 10%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Gross</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Net Amounts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom;" colspan="2">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">Gross Amounts Not Offset</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amounts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">of Assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom;" colspan="2">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">in the Statement of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; padding-bottom: 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Gross</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; padding-bottom: 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Offset in the</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; padding-bottom: 2px;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Presented in</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: center;"><font style="font-family: Arial; font-weight: bold;">Assets and Liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amounts of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Statement&#160;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; text-align: right;">&#160;<font style="font-family: Arial; font-weight: bold;">the Statement&#160;</font><font style="font-family: Arial;"> <br>
              </font></td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Derivatives</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Investment</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Recognized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">of Assets &amp;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">of Assets &amp;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Available</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Financial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Collateral</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Net</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Counterparty</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Type</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Assets</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">for Offset</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Instruments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Received</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Bank of New York</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Forward</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$133,941</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$133,941</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$(133,941)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
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          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
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            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
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            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Gross</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 11.44%; vertical-align: bottom;">
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            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
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            <td style="width: 11%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; padding-bottom: 2px;">
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            <td style="width: 11%; vertical-align: bottom; font-family: Arial; padding-bottom: 2px;">
              <div>&#160;</div>
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            <td style="width: 10%; vertical-align: bottom; font-family: Arial; padding-bottom: 2px;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
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            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Statement&#160;</font><font style="font-family: Arial;"></font></div>
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            <td style="width: 11.44%; vertical-align: bottom; text-align: right;">&#160;<font style="font-family: Arial; font-weight: bold;"> the Statement</font><font style="font-family: Arial;">&#160; <br>
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            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Derivatives</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Investment</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Recognized</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 11.44%; vertical-align: bottom;">
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            <td style="width: 11.44%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">of Assets &amp;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Available</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Financial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Collateral</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Net</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Counterparty</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Type</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">for Offset</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Instruments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Pledged</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Amount</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Soci&#233;t&#233;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Reverse</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">G&#233;n&#233;rale</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Repurchase</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Agreements</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Bank of New York</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Forward</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">388,723</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">388,723</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">(133,941)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 10%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">254,782</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Mellon</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Currency</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Exchange</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 14.55%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11.44%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 11%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10.4%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 10%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The table above does not include the additional collateral pledged to the counterparty for the reverse repurchase agreement. Total additional collateral pledged for the reverse
        repurchase agreement was $90,983,662.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 55</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z1afca467d0ff47739d06810ceeedc608" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 5 <font style="font-weight: bold;">&#8211; Fees and Other Transactions</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Pursuant to an Investment Advisory Agreement between the Fund and Advent, the Investment Adviser is responsible for the daily management of the Fund&#8217;s portfolio of investments,
        which includes buying and selling securities for the Fund, as well as investment research. The Investment Adviser will receive an annual fee from the Fund based on the average value of the Fund&#8217;s Managed Assets. In addition, subject to the approval
        of the Fund&#8217;s Board, a pro rata portion of the salaries, bonuses, health insurance, retirement benefits and similar employment costs for the time spent on Fund operations (other than the provision of services required under the Investment Advisory
        Agreement) of all personnel employed by the Investment Adviser who devote substantial time to Fund operations may be reimbursed by the Fund to the Investment Adviser. For the year ended October 31, 2019, the Investment Adviser was not reimbursed by
        the Fund for these items. The annual fee will be determined as follows:</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">(a) If the average value of the Fund&#8217;s Managed Assets (calculated monthly) is greater than $250 million, the fee will be a maximum amount equal to 0.54% of the average value of
        the Fund&#8217;s Managed Assets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">(b) If the average value of the Fund&#8217;s Managed Assets (calculated monthly) is $250 million or less, the fee will be a maximum amount equal to 0.55% of the average value of the
        Fund&#8217;s Managed Assets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Pursuant to a Servicing Agreement between the Fund and Guggenheim Funds Distributors, LLC (the &#8220;Servicing Agent&#8221;), the Servicing Agent will act as servicing agent to the Fund.
        The Servicing Agent will receive an annual fee of 0.21% of the average value of the Fund&#8217;s Managed Assets.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">For purposes of calculating the fees payable under the foregoing agreements, average daily managed assets means the average daily value of the Fund&#8217;s total assets minus the sum
        of its accrued liabilities. Total assets means all of the Fund&#8217;s assets and is not limited to its investment securities. Accrued liabilities means all of the Fund&#8217;s liabilities other than borrowings for investment purposes.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Certain officers of the Fund may also be officers, directors and/or employees of the Investment Adviser or Servicing Agent. The Fund does not compensate its officers who are
        officers, directors and/or employees of the aforementioned firms.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">MUFG Investor Services (US), LLC (&#8220;MUIS&#8221;) acts as the Fund&#8217;s administrator. The Bank of New York Mellon Corp. (&#8220;BNY&#8221;) acts as the Fund&#8217;s custodian and accounting agent. As
        custodian, BNY is responsible for the custody of the Fund&#8217;s assets. As accounting agent, BNY is responsible for maintaining the books and records of the Fund&#8217;s securities and cash. For providing the aforementioned services, MUIS and BNY are
        entitled to receive a monthly fee equal to an annual percentage of the Fund&#8217;s average daily managed assets subject to certain minimum monthly fees and out of pocket expenses.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 6 <font style="font-weight: bold;">&#8211; Fair Value Measurement</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In accordance with U.S. GAAP, fair value is defined as the price that the Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with
        an independent buyer in the principal market, or in the absence of a principal market, the most advantageous market for the investment or liability. U.S. GAAP establishes a three-tier fair value hierarchy based on the types of</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">56 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zb28f17c3d24048eab27704aee3f9d353" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">inputs used to value assets and liabilities and requires corresponding disclosure. The hierarchy and the corresponding inputs are summarized below: </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Level 1 &#8212; quoted prices in active markets for identical assets or liabilities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Level 2 &#8212; significant other observable inputs (for example quoted prices for securities that are similar based on characteristics such as interest rates, prepayment speeds,
        credit risk, etc.).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Level 3 &#8212; significant unobservable inputs based on the best information available under the circumstances, to the extent observable inputs are not available, which may include
        assumptions.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The types of inputs available depend on a variety of factors, such as the type of security and the characteristics of the markets in which it trades, if any. Fair valuation
        determinations that rely on fewer or no observable inputs require greater judgment. Accordingly, fair value determinations for Level 3 securities require the greatest amount of judgment.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Independent pricing services are used to value a majority of the Fund&#8217;s investments. When values are not available from a pricing service, they will be determined under the
        valuation policies that have been reviewed and approved by the Board. In any event, values may be determined using a variety of sources and techniques, including: market prices; broker quotes; and models which derive prices based on inputs such as
        prices of securities with comparable maturities and characteristics or based on inputs such as anticipated cash flows or collateral, spread over U.S. Treasury Securities, and other information and analysis.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The suitability of the
        techniques and sources employed to determine fair valuation are regularly monitored and subject to change.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 7 <font style="font-weight: bold;">&#8211; Reverse Repurchase Agreements</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund may enter into reverse repurchase agreements as part of its financial leverage strategy. Under a reverse repurchase agreement, the Fund temporarily transfers possession
        of a portfolio instrument to another party, such as a bank or broker-dealer, in return for cash. At the same time, the Fund agrees to repurchase the instrument at an agreed upon time and price, which reflects an interest payment. Such agreements
        have the economic effect of borrowings. The Fund may enter into such agreements when it is able to invest the cash acquired at a rate higher than the cost of the agreement, which would increase earned income. When the Fund enters into a reverse
        repurchase agreement, any fluctuations in the market value of either the instruments transferred to another party or the instruments in which the proceeds may be invested would affect the market value of the Fund&#8217;s assets. As a result, such
        transactions may increase fluctuations in the market value of the Fund&#8217;s assets. For the year ended October 31, 2019, the average daily balance for which reverse repurchase agreements were outstanding amounted to $173,643,836. The average interest
        rate was 3.53%. As of October 31, 2019 there were $177,016,427 reverse repurchase agreements outstanding.</div>
      <table cellspacing="0" cellpadding="0" id="z7eb21595fe01464084ce238eba037c4a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18.55%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 40.2%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 24.75%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 16.5%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 18.55%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Counterparty</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 40.2%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Interest Rate(s)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 24.75%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Maturity Date(s)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Face Value</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.55%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Soci&#233;t&#233; G&#233;n&#233;rale</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 40.2%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">3.45%-3.83%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 24.75%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">12/15/2020-12/15/2022</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 123,012,298</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Soci&#233;t&#233; G&#233;n&#233;rale</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 40.2%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">2.75% (3 Month USD LIBOR+0.85%)*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 24.75%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">11/21/2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">54,004,129</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.55%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 40.2%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 24.75%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 83.5%; vertical-align: bottom; background-color: rgb(255, 255, 255);" colspan="3">
              <div><font style="font-family: Arial;">* Variable rate security. Rate indicated is the rate effective at October 31, 2019.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.5%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="4">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18.55%; vertical-align: bottom; font-family: Arial; border-top: 2px solid rgb(0, 0, 0);">
              <div>&#160;</div>
            </td>
            <td style="width: 81.45%; vertical-align: bottom; font-family: Arial; border-top: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right; text-indent: 67.85pt;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 57&#160;</div>
            </td>
          </tr>

      </table>
      <br>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z8a9862e162344b3e998fc4feb944942d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The following is a summary of the remaining contractual maturities of the reverse repurchase agreements outstanding as of October 31, 2019, aggregated by asset class of the
        related collateral pledged by the Fund:</div>
      <table cellspacing="0" cellpadding="0" border="0" id="zd2c0229432ca47e1ae5a94ecb5f82fdd" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 25%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Overnight and</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Up to</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">31 &#8211; 90</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Greater than</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Continuous</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">30 days</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">days</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">90 days</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Total</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial;">Corporate Bonds</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Total Reverse</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Repurchase Agreements</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Gross amount of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">recognized liabilities</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial; background-color: rgb(204, 238, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">for reverse repurchase</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; font-family: Arial; background-color: rgb(255, 255, 255);">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">agreements</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 15.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 177,016,427</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 8 <font style="font-weight: bold;">&#8211; Margin Loan</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">On November 9, 2012, the Fund entered into a five year margin loan agreement with an approved counterparty whereby the counterparty agreed to provide secured financing to the
        Fund and the Fund provided pledged collateral to the lender. The interest rate on the amount borrowed was a fixed 1.74%. An unused commitment fee of 0.25% was charged on the difference between the $170,000,000 margin loan agreement and the amount
        borrowed. If applicable, the unused commitment fee was included in Interest Expense on the Statement of Operations. On December 20, 2012, the Fund borrowed $170,000,000 under the margin loan agreement. On December 15, 2017, the Fund terminated its
        existing margin loan agreement and transferred the $150,000,000 loan obligation to another approved counterparty.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Concurrent with the termination of the margin loan on December 15, 2017, the Fund entered into a new senior secured credit agreement with Soci&#233;t&#233; G&#233;n&#233;rale. Under the terms of the
        new credit agreement, the Fund&#8217;s credit facility is as follows:</div>
      <table cellspacing="0" cellpadding="0" id="zd19994ec24a443348dd2d6f10d1086eb" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 71.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">3.43% fixed rate 3-year maturity</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 65,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.72%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">3.83% fixed rate 5-year maturity</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.28%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right; text-indent: 12.85pt;"><font style="font-family: Arial;">65,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 71.72%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">3 Month USD LIBOR+0.85% floating rate 175-day evergreen maturity</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 28.28%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right; text-indent: 12.85pt;"><font style="font-family: Arial;">20,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund pays a commitment fee on the undrawn portion of the 175-day evergreen facility in the amount of 0.25% per annum. If applicable, the unused commitment fee is included in
        Interest Expense on the Statement of Operations. On March 14, 2018 the Fund reallocated its leverage with Soci&#233;t&#233; G&#233;n&#233;rale, terminating its 3 Month USD LIBOR+0.85% floating rate 175-day evergreen maturity of $20,000,000.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">On August 27, 2018, with the completion of the mergers of Advent Claymore Convertible Securities and Income Fund II (&#8220;AGC&#8221;) and Advent Claymore Enhanced Growth and Income Fund
        (&#8220;LCM&#8221;) (together the &#8220;Target Funds&#8221;) into Advent Convertible and Income Fund (&#8220;AVK&#8221; or the &#8220;Acquiring</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">58 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z9140019415784994ae458552c8f78ab5" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Fund&#8221;), the Fund amended its leverage facilities with Soci&#233;t&#233; G&#233;n&#233;rale in order to assume the leverage of the Target Funds. Under the terms of the amended credit agreement, the
        Fund&#8217;s credit facility is as follows:</div>
      <table cellspacing="0" cellpadding="0" id="z93dd51b2fc9b41c3849b025e4428f20d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 60.59%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">3.48% fixed rate 3-year maturity</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 39.41%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 114,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 60.59%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">3.89% fixed rate 5-year maturity</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 39.41%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">114,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 60.59%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">3 Month USD LIBOR+0.85% floating rate</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 39.41%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">7,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 60.59%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">0.25% Undrawn Commitment Fee</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 39.41%; vertical-align: bottom; background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">30,000,000</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">On December 20, 2018, the Fund reallocated its leverage with Soci&#233;t&#233; G&#233;n&#233;rale, decreasing its 3.48% fixed rate 3-year maturity margin loan by $25,000,000 and increasing its
        reverse repurchase agreements by the same amount.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">As of October 31, 2019, there was $210,000,000 outstanding in connection with the Fund&#8217;s margin loan agreement. The average daily amount of borrowings on the margin loan during
        the year ended October 31, 2019 was $213,356,164, with a related average interest rate of 3.56%. The maximum amount outstanding during the year was $235,000,000. As of October 31, 2019, the total value of securities segregated as collateral in
        connection with the margin loan was $489,529,910.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The margin loan agreement governing the loan facility includes usual and customary covenants. These covenants impose on the Fund asset coverage requirements, collateral
        requirements, investment strategy requirements, and certain financial obligations. These covenants place limits or restrictions on the Fund&#8217;s ability to (i) enter into additional indebtedness with a party other than the counterparty, (ii) change
        its fundamental investment policy, or (iii) pledge to any other party, other than to the counterparty, securities owned or held by the Fund over which the counterparty has a lien. In addition, the Fund is required to deliver financial information
        to the counterparty within established deadlines, maintain an asset coverage ratio (as defined in Section 18(g) of the 1940 Act) greater than 300%, comply with the rules of the stock exchange on which its shares are listed, and maintain its
        classification as a &#8220;closed-end management investment company&#8221; as defined in the 1940 Act.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">There is no guarantee that the Fund&#8217;s leverage strategy will be successful. The Fund&#8217;s use of leverage may cause the Fund&#8217;s NAV and market price of common shares to be more
        volatile and can magnify the effect of any losses.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 9 &#8211; <font style="font-weight: bold;">Federal Income Taxes Information</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund intends to continue to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies.
        Accordingly, no provision for U.S. federal income taxes is required. In addition, by distributing substantially all of its ordinary income and long-term capital gains, if any, during each calendar year, the Fund avoids a 4% federal excise tax that
        is assessed on the amount of the under distribution.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In order to present paid-in capital in excess of par and total distributable earnings or losses on the Statement of Assets and Liabilities that more closely represent their tax
        character, certain adjustments have been made to total distributable earnings or losses and paid-in capital. For the year ended October 31, 2019, the adjustments were to decrease paid-in capital by $1,217,661 and increase total distributable
        earnings (loss) by $1,217,661 due to the difference in the treatment for book and tax purposes of distributions to shareholders, real estate investment trusts, partnerships, contingent payment debt instruments and capital loss carryforward
        expiration.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 59</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zacb48fa182bd4a73b5530cac18e2410e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">As of October 31, 2019, the cost of investments for U.S. federal income tax purposes, the aggregate gross unrealized appreciation for all investments for which there was an
        excess of value over tax cost, and the aggregate gross unrealized depreciation for all investments for which there was an excess of tax cost over value, were as follows:</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z447964ed8feb480daf8c5f8eb0b3ba2d" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 25%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 25%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Tax</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Tax</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Tax</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Unrealized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Unrealized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Net Unrealized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Cost</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Appreciation</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Depreciation</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Appreciation</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 926,250,099</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 44,735,027</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (21,092,690)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 23,642,337</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The differences between book basis and tax basis unrealized appreciation/(depreciation) are primarily attributable to the tax deferral of losses on wash sales, the mark-to-market
        of certain derivatives, and additional income adjustments for tax purposes on certain convertible securities.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">As of October 31, 2019, tax components of distributable earnings (loss) were as follows:</div>
      <table cellspacing="0" cellpadding="0" border="0" id="zf3e720aab60d4e2f8aaa4f7815d2183e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Undistributed</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Undistributed</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 33%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Ordinary</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Long-Term</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 33%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Income/</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Capital Gain/</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Net Unrealized</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">(Accumulated</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">(Accumulated</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Appreciation/</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Ordinary Loss)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Capital Loss)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">(Depreciation)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ &#8212;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (33,454,459)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 22,635,784</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The components of distributable earnings&#8217; differences between book basis and tax basis are attributable to the tax deferral of losses on wash sales, straddle loss deferrals, and
        additional income adjustments on certain convertible bonds.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">At October 31, 2019, the Fund had a capital loss carryforward available as shown in the table below, to offset possible future capital gains. Under the RIC Modernization Act of
        2010, the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital loss carryforwards will retain their character as either short-term or long-term
        capital losses.</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z3622ebb516014cd99c969ba51a771a91" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 33%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 34%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 32.65%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Total</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Unlimited</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom;">
              <div style="text-align: right; text-indent: 14pt;"><font style="font-family: Arial; font-weight: bold;">Unlimited</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.65%; vertical-align: bottom;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Capital Loss</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Short-Term</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Long-Term</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.65%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Carryforward</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 33%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (27,512,559)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (5,941,900)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 32.65%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ (33,454,459)*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zba1f8255715942d89d9d04388d90e0c2" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 4.16%; vertical-align: top;" rowspan="1">
              <div><font style="font-family: Arial;">* &#160;&#160;</font><font style="font-family: Arial;"> In accordance with Sections 382-384 of the Internal Revenue Code, a portion of certain Fund losses are subject to an annual limitation. This annual
                  limitation is generally applicable to all of the capital loss carryforwards shown.</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">For the year ended October 31, 2019, the capital loss carryforward amounts expired and utilized were $1,291,643 and $0, respectively.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">For the years ended October 31, 2019 and 2018, the tax character of distributions paid, as reflected on the Statements of Changes in Net Assets, of $19,250,159 and $13,035,462
        was ordinary income and $29,306,113 and $18,468,343 was return of capital, respectively.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">60 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zdcc766e2b47a41b5a30b5a07523faa3b" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">For all open tax years and all major jurisdictions, management of the Fund has concluded that there are no significant uncertain tax positions that would require recognition in
        the financial statements. Uncertain tax positions are tax positions taken or expected to be taken in the course of preparing the Fund&#8217;s tax returns that would not meet a more-likely-than not threshold of being sustained by the applicable tax
        authority and would be recorded as a tax expense in the current year. Open tax years are those that are open for examination by taxing authorities (i.e., generally the last four tax year ends and the interim tax period since then). Furthermore,
        management of the Fund is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 10 <font style="font-weight: bold;">&#8211; Security Transactions</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">For the year ended October 31, 2019, the cost of purchases and proceeds from sales of investment securities, excluding options written and short-term securities, were as follows:</div>
      <table cellspacing="0" cellpadding="0" id="z9122a2776e6d4d33b7f9d32852b9a4d4" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 86.86%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 13.14%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 86.86%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Purchases</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.14%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Sales</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 86.86%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 1,132,278,062</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.14%; vertical-align: bottom; background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">$ 1,162,613,882</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 86.86%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Note 11 </font><font style="font-family: Arial; font-weight: bold;">&#8211; Mergers</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.14%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 86.86%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">On August 27, 2018 the mergers of AGC and LCM with and into AVK were completed.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.14%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In the mergers, common shareholders of AGC and LCM, respectively, received newly-issued AVK common shares in tax-free transactions having an aggregate net asset value equal to
        the aggregate net asset value of their holdings of AGC and/or LCM common shares, as applicable, as determined at the close of business on August 24, 2018. Fractional AVK shares were not issued in the mergers and consequently cash was distributed
        for any such fractional amounts. Relevant details pertaining to the mergers are as follows:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="zc7cf1aacd76748d0b23682ebed2a526b">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div><font style="font-family: Arial; font-weight: bold;">Fund</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">NAV/Share ($)</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Advent Claymore Convertible Securities and Income Fund (AVK)</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">17.52</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">N/A</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Advent Claymore Convertible Securities and Income Fund II (AGC)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">6.36</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">0.36302760</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Advent/Claymore Enhanced Growth &amp; Income Fund (LCM)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">8.68</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">0.49513765</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>

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      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Investments</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The cost, fair value and net unrealized appreciation (depreciation) of the investments of the Target Funds as of the date of the mergers, were as follows:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z1e52cb96ab2741a895c27c9d3a425ba1">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial; border-bottom: #000000 solid 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;"> AGC</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">LCM</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Cost of investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">291,324,660</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">111,470,689</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Fair value of investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">297,048,631</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">114,147,866</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net unrealized appreciation (depreciation) on investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">5,723,971</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">2,677,177</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Net unrealized appreciation (depreciation) on forward foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div style="text-indent: 9pt;"><font style="font-family: Arial;">currency exchange contracts</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">503,058</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">235,863</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Net unrealized appreciation (depreciation) on foreign</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div style="margin-left: 9pt;"><font style="font-family: Arial;">currency translations</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">85</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(419</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 61</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z9009683020eb45ada0ef8b88e76c01ff" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

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      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Common Shares</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The common shares outstanding, net assets applicable to common shares and NAV per common share outstanding immediately before and after the mergers were as follows:</div>
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          <tr>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: middle; font-family: Arial;" colspan="2">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div><font style="font-family: Arial; font-weight: bold;">Target Funds &#8211; Prior to Mergers</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">AGC</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">LCM</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%;">
              <div><font style="font-family: Arial;">Common shares outstanding</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div><font style="font-family: Arial;">27,367,344</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1">
              <div><font style="font-family: Arial;">9,182,041</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net assets applicable to common shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">174,095,431</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
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            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">79,667,328</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">NAV per common share</font><font style="font-family: Arial;">&#160;</font></div>
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            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">6.36</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">8.68</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">Acquiring Fund &#8211; Prior to Mergers</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;"> AVK</font><font style="font-family: Arial;"> </font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Common shares outstanding</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><font style="font-family: Arial;">20,043,745</font><font style="font-family: Arial;"></font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Net assets applicable to common shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">
              <div><font style="font-family: Arial;">351,231,894</font></div>
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            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">NAV per common share</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div><font style="font-family: Arial;">17.52</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial; font-weight: bold;">Acquiring Fund &#8211; Post Mergers</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;"> AVK</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Common shares outstanding</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255);" colspan="1">
              <div><font style="font-family: Arial;">34,525,222</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Net assets applicable to common shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255);" colspan="1">
              <div><font style="font-family: Arial;">604,994,653</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255);" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">NAV per common share</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="font-family: Arial; vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" nowrap="nowrap" style="font-family: Arial; vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">
              <div><font style="font-family: Arial;">17.52</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);" colspan="1">&#160;</td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Cost and Expenses</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In connection with the mergers, the Target Funds and the Acquiring Fund incurred certain associated costs and expenses. Such amounts incurred by the Acquiring Fund are shown on
        the Statement of Assets and Liabilities and on the Statement of Operations as &#8220;Merger fees&#8221;. Costs specific to one or each of the funds were expensed to such fund as incurred. With respect to any expenses incurred in connection with the mergers
        that were not attributable to a specific fund, such expenses were allocated in proportion to the projected expense savings to be realized by each fund as a result of the Mergers. Of the estimated total costs of the mergers, approximately $579,000
        was borne by AGC, $260,000 was borne by LCM and $86,000 was borne by AVK.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Pro Forma Results of Operations</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Assuming the acquisition had been completed on November 1, 2017, the beginning of the fiscal reporting period of AVK, the pro forma results of operations for the year ended
        October 31, 2018, are as follows:</div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z5e520ce182124933afdede25b94dc857">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div><font style="font-family: Arial; font-weight: bold;">Acquiring Fund &#8211; Pro Forma Results from Operations (unaudited)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">AVK</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Net investment income (loss)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">17,253,226</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Net realized and unrealized gains (losses)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">(17,845,647</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 88%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Change in net assets resulting from operations</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">$</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">(592,421</font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">)</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Because the combined investment portfolios have been managed as a single integrated portfolio since the acquisition was completed, it is not practicable to separate the amounts
        of revenue and earnings of AGC and LCM that have been included in AVK&#8217;s Statement of Operations since August&#160;27, 2018.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">62 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z1940ce489b5e443eaa5e4cba4cac1576" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 12 <font style="font-weight: bold;">&#8211; Capital</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Common Shares</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund has an unlimited amount of common shares, $0.001 par value, authorized and 34,525,222 issued and outstanding. In connection with the Fund&#8217;s dividend reinvestment plan,
        the Fund did not issue shares during the year ended October 31, 2019, or the year ended October 31, 2018. As of October 31, 2019, Advent Capital Management LLC, the Fund&#8217;s Investment Adviser, owned 152,662 shares of the Fund.</div>
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          <tr>
            <td style="width: 55.1%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Transactions in common shares were as follows:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25.52%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 19.38%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; text-align: left; color: #000000; width: 100%;" id="z9716a19bf8084d37a8123e5656468d03">

          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">Year Ended</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; font-family: Arial; border-bottom: #000000 solid 2px;">
              <div>&#160;</div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31, 2019</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">October 31, 2018</font><font style="font-family: Arial;"> </font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Beginning shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">34,525,222</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">20,043,745</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">
              <div><font style="font-family: Arial;">Shares issued in fund merger</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">&#8212;</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
              <div><font style="font-family: Arial;">14,481,477</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: bottom; width: 76%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;">
              <div><font style="font-family: Arial;">Ending shares</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">34,525,222</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
            <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
              <div><font style="font-family: Arial;">34,525,222</font><font style="font-family: Arial;"></font></div>
            </td>
            <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 13 <font style="font-weight: bold;">&#8211; Recent Regulatory Reporting Updates</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In August 2018, the Financial Accounting Standards Board issued an Accounting Standards Update, ASU 2018-13, Fair Value Measurement (Topic 820), Disclosure Framework - Changes to
        the Disclosure Requirements for Fair Value Measurement (the &#8220;2018 ASU&#8221;) which adds, modifies and removes disclosure requirements related to certain aspects of fair value measurement. The 2018 ASU is effective for fiscal years, and interim periods
        within those fiscal years, beginning after December 15, 2019. Early adoption is permitted. As of October 31, 2019, the Fund has fully adopted the provisions of the 2018 ASU, which did not have a material impact on the Fund&#8217;s financial statements
        and related disclosures or impact the Fund&#8217;s net assets or results of operations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 14 <font style="font-weight: bold;">&#8211; Recent Accounting Pronouncements</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In March 2017, the Financial Accounting Standards Board issued an Accounting Standards Update, ASU 2017-08, Receivables &#8211; Nonrefundable Fees and Other Costs (Subtopic 310-20),
        Premium Amortization on Purchased Callable Debt Securities (the &#8220;ASU&#8221;) which amends the amortization period for certain purchased callable debt securities held at a premium, shortening such period to the earliest call date. The ASU does not require
        any accounting change for debt securities held at a discount; the discount continues to be amortized to maturity. The ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. Management
        has evaluated the implications of these changes and has determined that the adoption of the ASU will have no impact on the Fund&#8217;s net assets or results of operations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Note 15 <font style="font-weight: bold;">&#8211; Subsequent Events:</font></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">On November 1, 2019, the Fund declared a monthly distribution to common shareholders of $0.1172 per common share. The distribution is payable on November 29, 2019 to shareholders
        of record on November 15, 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">On December 2, 2019, the Fund declared a monthly distribution to common shareholders of $0.1172 per common share. The distribution is payable on December 31, 2019 to shareholders
        of record on December 13, 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 63</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z05a8c1de94574b16a12014648bf87887" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 70.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 29.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 70.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">NOTES TO FINANCIAL STATEMENTS continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund has performed an evaluation of subsequent events through the date of issuance of this report and has determined that there are no material events that would require
        disclosure other than the events disclosed above.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">64 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z599b0bebb4b04ddd80c0f6086a04a1f8" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 83.84%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 16.16%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 83.84%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 16.16%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">To the Board of Trustees and Shareholders of Advent Convertible and Income Fund</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Opinion on the Financial Statements</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">We have audited the accompanying statement of assets and liabilities, including the portfolio of investments, of Advent Convertible and Income Fund (the &#8220;Fund&#8221;) as of October 31,
        2019, the related statements of operations and cash flows for the year ended October 31, 2019, the statement of changes in net assets for each of the two years in the period ended October 31, 2019, including the related notes, and the financial
        highlights for each of the five years in the period ended October 31, 2019 (collectively referred to as the &#8220;financial statements&#8221;). In our opinion, the financial statements present fairly, in all material respects, the financial position of the
        Fund as of October 31, 2019, the results of its operations and its cash flows for the year then ended, the changes in its net assets for each of the two years in the period ended October 31, 2019 and the financial highlights for each of the five
        years in the period ended October 31, 2019 in conformity with accounting principles generally accepted in the United States of America.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Basis for Opinion</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">These financial statements are the responsibility of the Fund&#8217;s management. Our responsibility is to express an opinion on the Fund&#8217;s financial statements based on our audits. We
        are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable
        rules and regulations of the Securities and Exchange Commission and the PCAOB.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain
        reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that
        respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates
        made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of October 31, 2019 by correspondence with the custodian, transfer agent and brokers; when
        replies were not received from brokers, we performed alternative auditing procedures. We believe that our audits provide a reasonable basis for our opinion.</div>
      <div style="margin: 4pt 0px 12pt; line-height: 50%; font-family: Arial;">/s/ PricewaterhouseCoopers LLP</div>
      <div style="margin: 12pt 0px; line-height: 50%; font-family: Arial;">New York, New York </div>
      <div style="margin: 12pt 0px; line-height: 50%; font-family: Arial;">December 20, 2019</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">We have served as the auditor of one or more investment companies in the Advent complex since 2003.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 65</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z27d83e2b6e0a4839978147263c5e0924" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 29.31%; vertical-align: bottom; font-family: Arial; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1" colspan="2">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;">OTHER INFORMATION (Unaudited)</font></div>
            </td>
            <td style="width: 28.28%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Federal Income Tax Information</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Qualified dividend income of as much as $5,536,052 was received by the Fund through October 31, 2019. The Fund intends to designate the maximum amount of dividends that qualify
        for the reduced tax rate pursuant to the Jobs and Growth Tax Relief Reconciliation Act of 2003.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">For corporate shareholders $4,438,792 of investment income (dividend income plus short-term gains, if any), qualified for the dividends-received deduction.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Additionally, of the taxable ordinary income distributions paid during the fiscal year ending October 31, 2019, the Fund had the corresponding percentage qualify as interest
        related dividends as permitted by IRC Section 871(k)(2).</div>
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          <tr>
            <td style="width: 100%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;">% of Qualifying Interest Income</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">66.10%</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In January 2020, you will be advised on IRS Form 1099 DIV or substitute 1099 DIV as to the federal status of the distributions received by you in calendar year 2019.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Sector Classification</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Information in the &#8220;Portfolio of Investments&#8221; is categorized by sectors using sector-level Classifications used by Bloomberg Industry Classification System, a widely recognized
        industry classifica -tion system provider. The Fund&#8217;s registration statement has investment policies relating to concentration in specific sectors/industries. For purposes of these investment policies, the Fund usually classifies industries based
        on industry-level classifications used by widely recognized industry classification system providers such as Bloomberg Industry Classification System, Global Industry Classification Standards and Barclays Global Classification Scheme.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Results of Shareholder Votes</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Annual Meeting of Shareholders of the Fund was held on September 25, 2019. Shareholders voted on the election of Trustees. With regards to the election of the following Class
        I Trustees by shareholders of the Fund:</div>
      <table cellspacing="0" cellpadding="0" border="0" id="zbc05696fb6a448409feeea1efd3a30a8" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;"># of Shares in Favor</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;"># of Shares Against</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial; font-weight: bold;"># of Shares Abstain</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Randall C. Barnes</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">24,403,646</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,260,164</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">328,911</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div><font style="font-family: Arial;">Derek Medina</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">24,376,949</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,278,317</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">337,455</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div><font style="font-family: Arial;">Gerald L. Seizert</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">24,392,993</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">6,251,924</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 25%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="text-align: right;"><font style="font-family: Arial;">347,804</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The other Trustees of the Fund whose terms did not expire in 2019 are Daniel L. Black, Ronald A. Nyberg, Michael A. Smart and Tracy V. Maitland.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">66 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z87910e1b54db4b3db1afab3c37fefa28" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 28.32%; vertical-align: bottom; font-family: Arial; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="1" colspan="2">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;">OTHER INFORMATION (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 24.29%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Trustees</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Trustees of the Advent Convertible and Income Fund and their principal business occupations during the past five years:</div>
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          <tr>
            <td style="width: 10.06%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 9.32%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 8.59%; vertical-align: middle; font-family: Arial;"><font style="font-weight: bold;">Term of </font></td>
            <td style="width: 41.51%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 8.78%; vertical-align: middle; font-family: Arial;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;">Number of</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
            <td style="width: 21.74%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Position(s)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Office</font><font style="font-family: Arial; font-weight: bold;"> and</font></div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial; font-weight: bold;">Portfolios in</font><font style="font-family: Arial;"> <br>
                  </font></div>
              </div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>
                <div style="font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;">Name, Address</font><font style="font-family: Arial;"> <br>
                  </font></div>
              </div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Held</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Length</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;"><font style="font-family: Arial; font-weight: bold;">Fund </font></td>
            <td style="width: 21.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom;"><font style="font-family: Arial; font-weight: bold;">and Year</font></td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">with</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">of Time</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Principal Occupation(s)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Complex</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Other Directorships</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">of Birth</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Trust</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Served*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">During Past 5 Years</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Overseen **</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Held by Trustees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 19.38%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
              <div><font style="font-family: Arial; font-weight: bold;">Independent Trustees:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="6">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Randall C.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Trustee and</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2005</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Current: Private Investor (2001-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-family: Arial;">158</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Current: Trustee, Purpose Investments</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Barnes++</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Chairman of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Funds (2013-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1951)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">the Audit</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Former: Senior Vice President and Treasurer, PepsiCo, Inc. (1993-1997);</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Committee</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">President, Pizza Hut International (1991-1993); Senior Vice President,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Former: Managed Duration Investment</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Strategic Planning and New Business Development, PepsiCo, Inc. (1987-1990).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Grade Municipal Fund (2003-2016).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Daniel L. Black+</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Trustee</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2005</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Current: Managing Partner, the Wicks Group of Cos., LLC (2003-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-family: Arial;">1</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Current: EZ Shield, Inc. (2016-present);</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1960)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Harlem Lacrosse &amp; Leadership, Inc.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Former: Managing Director and Co-Head of the Merchant Banking Group at</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.15pt;"><font style="font-family: Arial;">(2014-present); Antenna International,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">BNY Capital Markets, a division of BNY Mellon (1998-2003); and Co-Head of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Inc. (2010-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">U.S. Corporate Banking at BNY Mellon (1995-1998).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Former: Little Sprouts, LLC (2015-2018);</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Bendon Inc. (2012-2016); Bonded</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Services, Ltd. (2011-2016).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Derek Medina+</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Trustee and</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2003</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Current: Senior Vice President, Business Affairs at ABC News (2008-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-family: Arial;">1</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Current: Oliver Scholars (2011-present);</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1966 )</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Chairman of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Young Scholar&#8217;s Institute (2005-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">the Nominating</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Former: Vice President, Business Affairs and News Planning at ABC News</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">and Governance</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 50.29%; vertical-align: bottom;" colspan="2">
              <div><font style="font-family: Arial;">(2003-2008); Executive Director, Office of the President at ABC News (2000-2003);</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Committee</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 50.29%; vertical-align: bottom;" colspan="2">
              <div><font style="font-family: Arial;">Associate at Cleary Gottlieb Steen &amp; Hamilton (law firm) (1995-1998); Associate in</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.06%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.32%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.59%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 41.51%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Corporate Finance at J.P. Morgan/Morgan Guaranty (1988-1990).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.78%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 67</div>
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      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
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          <tr>
            <td style="width: 69.89%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" colspan="4">
              <div><font style="font-family: Arial; font-weight: bold;">OTHER INFORMATION (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
            <td style="width: 7.97%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 8.53%; vertical-align: bottom;" rowspan="1"><font style="font-family: Arial; font-weight: bold;">Term of </font></td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
            <td style="width: 8.72%; vertical-align: bottom;" rowspan="1">
              <div><font style="font-family: Arial; font-weight: bold;">Number of</font><font style="font-family: Arial;"><br>
                </font></div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Position(s)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Office</font><font style="font-family: Arial; font-weight: bold;"> and</font></div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Portfolios in</font></div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div><font style="font-weight: bold;">Name, Address</font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Held</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Length</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Fund</font><font style="font-family: Arial;"><br>
                </font></div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">and Year </font><font style="font-family: Arial;"><br>
                </font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">with</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">of Time</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Principal Occupation(s)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Complex</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Other Directorships</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">of Birth</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Trust</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Served*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">During Past Five Years</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Overseen **</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Held by Trustees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 18.91%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="6" rowspan="1">
              <div><font style="font-family: Arial; font-weight: bold;">Independent Trustees continued:</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Ronald A.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Trustee</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2004</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Current: Partner, Momkus LLC (2016-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-family: Arial;">158</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Current: PPM Funds (9)(2018-present);</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Nyberg++</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Edward-Elmhurst Healthcare System</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1953)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Former: Partner, Nyberg &amp; Cassioppi, LLC (2000-2016); Executive Vice President,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">(2012-present); Western Asset Inflation-</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 51.18%; vertical-align: bottom;" colspan="2">
              <div><font style="font-family: Arial;">General Counsel, and Corporate Secretary, Van Kampen Investments (1982-1999).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Linked Opportunities &amp; Income Fund</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">(2004-present); Western Asset Inflation-</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Linked Income Fund (2003-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="6">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Former: Managed Duration Investment</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Grade Municipal Fund (2003-2016).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Gerald L.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Trustee</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom;">
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            <td style="width: 42.46%; vertical-align: bottom;">
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            </td>
            <td style="width: 8.72%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-family: Arial;">1</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Current: University of Toledo Foundation</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Seizert, CFA, CIC+</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">(2013-present); Beaumont Hospital</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1952)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Former: Co-Chief Executive (1998-1999) and a Managing Partner and Chief</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">(2012-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;" rowspan="1">
              <div>Investment Officer &#8211; Equities of Munder Capital Management, LLC (1995-1999);</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
            <td style="width: 21.39%; vertical-align: bottom;" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Vice President and Portfolio Manager of Loomis, Sayles &amp; Co., L.P. (asset</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">manager) (1984-1995); Vice President and Portfolio Manager at First of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">America Bank (1978-1984).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Michael A.&#160;</font><font style="font-family: Arial;"> <br>
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            </td>
            <td style="width: 8.53%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2003</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 8.72%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-family: Arial;">1</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Current: The Mead School (2014-</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Smart+</font></div>
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            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Partner, Cordova, Smart &amp; Williams, LLC (2003&#8211;present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">present); National Association of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>
                <div>(1960) <br>
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              </div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Investment Companies (&#8220;NAIC&#8221;) (2010-</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Former: Principal , FirstAtlantic Capital Ltd. (2001-2003); Managing Director in</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
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            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">present); Sprint Industrial Holdings</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Investment Banking &#8211; the Private Equity Group (1995-2001) and a Vice President</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">(2007-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">in Investment Banking &#8211; Corporate Finance (1992-1995) at Merrill Lynch &amp; Co;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 51.18%; vertical-align: bottom;" colspan="2">
              <div><font style="font-family: Arial;">Founding Partner of The Carpediem Group, a private placement firm (1991-1992);</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Former: Berkshire Blanket, Holdings,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Associate at Dillon, Read and Co. (investment bank) (1988-1990).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Inc. (2006-2016); Sqwincher Holdings</font><font style="font-family: Arial;">&#160;</font></div>
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          </tr>
          <tr>
            <td style="width: 10.94%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 7.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.53%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 42.46%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.72%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 21.39%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">(2006-2015).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">68 l<font style="font-weight: bold;"> AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
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          <tr>
            <td style="width: 76.86%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="4">
              <div><font style="font-family: Arial; font-weight: bold;">OTHER INFORMATION (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="6">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="6">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
            <td style="width: 9.97%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 9.74%; vertical-align: bottom;" rowspan="1">
              <div><font style="font-family: Arial; font-weight: bold;">Term of</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
            <td style="width: 9.97%; vertical-align: bottom;" rowspan="1">&#160;
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                </font></div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; font-family: Arial;" rowspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Position(s)</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 9.74%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Office</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial; font-weight: bold;">Portfolios in</font><font style="font-family: Arial;"> <br>
                  </font></div>
              </div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom; font-family: Arial;">
              <div><font style="font-weight: bold;">Name, Address</font></div>
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            <td style="width: 9.97%; vertical-align: bottom;">
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            <td style="width: 9.74%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">and Length</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 44.48%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; font-family: Arial; font-weight: bold;">
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            </td>
            <td style="width: 13.17%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom;">
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            </td>
            <td style="width: 9.97%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">with</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.74%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">of Time</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 44.48%; vertical-align: bottom;">
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            <td style="width: 9.97%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Complex</font><font style="font-family: Arial;">&#160;</font></div>
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            <td style="width: 13.17%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Other Directorships</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: #000000 2px solid;">
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            </td>
            <td style="width: 9.97%; vertical-align: bottom; border-bottom: #000000 2px solid;">
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            </td>
            <td style="width: 9.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Served*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">During Past Five Years</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Overseen **</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Held by Trustees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Interested Trustee:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Tracy V.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Trustee,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.74%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2003</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Current: Founder, President and Chief Investment Officer of Advent Capital</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom;">
              <div style="text-align: center;"><font style="font-family: Arial;">1</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">None.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Maitland+&#248;</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Chairman,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Management, LLC (2001-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1960)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">President and</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Chief Executive</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.74%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 12.67%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Officer</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 9.74%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 44.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 9.97%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.17%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">+&#160;&#160; Address of all Trustees noted: 888 Seventh Avenue, 31st Floor, New York, NY 10019.</div>
      <font style="font-style: italic;"> </font>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">++ Address of all Trustees noted: 227 West Monroe Street, Chicago, IL 60606.</div>
      <font style="font-style: italic;"> </font>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; text-indent: -18pt; margin-left: 18pt; font-style: italic;">* &#160;&#160; After a Trustee&#8217;s initial term, each Trustee is expected to serve a three-year term concurrent with the class of
        Trustees for which he serves:</div>
      <font style="font-style: italic;"> </font>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; text-indent: -18pt; margin-left: 27pt; font-style: italic;">-&#160;&#160;&#160;&#160; Mr. Michael A. Smart and Mr. Daniel L. Black are the Class II Trustees. The term of the Class II Trustees will
        continue until the 2020 annual meeting of shareholders or until successors shall have been elected and qualified.</div>
      <font style="font-style: italic;"> </font>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; text-indent: -18pt; margin-left: 27pt; font-style: italic;">-&#160;&#160; &#160; Mr. Tracy V. Maitland and Mr. Ronald A. Nyberg are the Class III Trustees. The term of the Class III Trustees
        will continue until the 2021 annual meeting of shareholders or until successors shall have been elected and qualified.</div>
      <font style="font-style: italic;"> </font>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; text-indent: -18pt; margin-left: 27pt; font-style: italic;">-&#160;&#160;&#160;&#160; Mr. Gerald L. Seizert, Mr. Derek Medina and Mr. Randall C. Barnes are the Class I Trustees. The term of the Class
        I Trustees will continue until the 2022 annual meeting of shareholders or until successors shall have been elected and qualified.</div>
      <font style="font-style: italic;"> </font>
      <div style="text-indent: -18pt; margin-left: 18pt; font-family: Arial; font-style: italic;">** &#160; As of period end. The Guggenheim Investments Fund Complex consists of U.S. registered investment companies advised or serviced by Guggenheim Funds
        Investment Advisors, LLC and/or Guggenheim Funds Distributors, LLC and/or affiliates of such entities.</div>
      <font style="font-style: italic;"> </font>
      <div style="text-indent: -9pt; margin-left: 9pt;"> <font style="font-family: Arial; font-style: italic;"><br>
        </font></div>
      <font style="font-style: italic;"> </font>
      <div style="text-indent: -18pt; margin-left: 18pt; font-family: Arial; font-style: italic;">&#248;&#160;&#160;&#160; Mr. Maitland is an &#8220;interested person&#8221; (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&#8217;s Investment Adviser.</div>
      <div style="font-family: Arial; text-indent: -9pt; margin-left: 9pt;">
        <div> <br>
        </div>
      </div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND
        INCOME FUND ANNUAL REPORT l 69</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z361d98116a79484abb0f5a7c96424afa" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 9.96%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 8.34%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 8.5%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 59.35%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 13.85%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 86.15%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="4">
              <div><font style="font-family: Arial; font-weight: bold;">OTHER INFORMATION (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="5">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="5">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Officers</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 86.15%; vertical-align: bottom;" colspan="4">
              <div><font style="font-family: Arial;">The Officers of the Advent Convertible and Income Fund, who are not Trustees, and their principal occupations during the past five years:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 9.96%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Position(s)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom; font-family: Arial;">
              <div>
                <div style="font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;">Name, Address*</font><font style="font-family: Arial;"> <br>
                  </font></div>
              </div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">held</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Term of Office</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom;"><font style="font-family: Arial; font-weight: bold;">and Year </font></td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">with the</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">and Length of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">of Birth</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Trust</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Time Served**</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Principal Occupations During Past Five Years</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="5">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial; font-weight: bold;">Officers:</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Edward C. Delk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Secretary and</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2012</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom;" rowspan="1" colspan="2">
              <div><font style="font-family: Arial;">Current: General Counsel and Chief Compliance Officer, Advent Capital Management, LLC (2012-present).</font><font style="font-family: Arial;">&#160;</font> <br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1968)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Chief</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Compliance</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 73.19%; vertical-align: bottom;" colspan="2">
              <div><font style="font-family: Arial;">Former: Assistant General Counsel and Chief Compliance Officer, Insight Venture Management, LLC (2009-2012); Associate General Counsel,</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Officer</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">TIAA-CREF (2008-2009); Principal, Legal Department, The Vanguard Group, Inc. (2000-2008).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Tony Huang</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Vice President</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2014</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Current: Director and Associate Portfolio Manager, Advent Capital Management, LLC (2007-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1976)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">and Assistant</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Secretary</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 73.19%; vertical-align: bottom;" colspan="2">
              <div><font style="font-family: Arial;">Former: Senior Vice President, Portfolio Manager and Analyst, Essex Investment Management (2001-2006); Vice President, Analyst, Abacus</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 73.19%; vertical-align: bottom; border-bottom: #000000 2px solid;" colspan="2">
              <div><font style="font-family: Arial;">Investments (2001); Vice President, Portfolio Manager, M/C Venture Partners (2000-2001); Associate, Fidelity Investments (1996-2000).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Robert White</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Treasurer and</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Since 2005</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Current: Chief Financial and Administrative Officer, Advent Capital Management, LLC (2005-present).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(1965)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom;">
              <div style="text-indent: 0.1pt;"><font style="font-family: Arial;">Chief Financial</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 9.96%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 8.34%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Officer</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 8.5%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 59.35%; vertical-align: bottom; border-bottom: #000000 2px solid;">
              <div><font style="font-family: Arial;">Former: Vice President, Client Service Manager, Goldman Sachs Prime Brokerage (1997-2005).</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 13.85%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">* &#160;&#160; Address for all Officers: 888 Seventh Avenue, 31st Floor, New York, NY 10019.</div>
      <font style="font-style: italic;"> </font>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-style: italic;">**&#160;&#160; 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.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">70 l<font style="font-weight: bold;"> AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z8a47dcbb3e8641d6b09fcdc0c97229a3" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 69.7%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 30.3%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 69.7%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">DIVIDEND REINVESTMENT PLAN (Unaudited)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 30.3%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Unless the registered owner of common shares elects to receive cash by contacting the Plan Administrator, all dividends declared on common shares of the Fund will be
        automatically reinvested by Computershare Trust Company, N.A. (the &#8220;Plan Administrator&#8221;), Administrator for shareholders in the Fund&#8217;s Dividend Reinvestment Plan (the &#8220;Plan&#8221;), in additional common shares of the Fund. Participation in the Plan is
        completely voluntary and may be terminated or resumed at any time without penalty by notice if received and processed by the Plan Administrator prior to the dividend record date; otherwise such termination or resumption will be effective with
        respect to any subsequently declared dividend or other distribution. Some brokers may automatically elect to receive cash on your behalf and may re-invest that cash in additional common shares of the Fund for you. If you wish for all dividends
        declared on your common shares of the Fund to be automatically reinvested pursuant to the Plan, please contact your broker.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Plan Administrator will open an account for each common shareholder under the Plan in the same name in which such common shareholder&#8217;s common shares are registered. Whenever
        the Fund declares a dividend or other distribution (together, a &#8220;Dividend&#8221;) payable in cash, nonparticipants in the Plan will receive cash and participants in the Plan will receive the equivalent in common shares. The common shares will be acquired
        by the Plan Administrator for the participants&#8217; accounts, depending upon the circumstances described below, either (i) through receipt of additional unissued but authorized common shares from the Fund (&#8220;Newly Issued Common Shares&#8221;) or (ii) by
        purchase of outstanding common shares on the open market (&#8220;Open-Market Purchases&#8221;) on the New York Stock Exchange or elsewhere. If, on the payment date for any Dividend, the closing market price plus estimated brokerage commission per common share
        is equal to or greater than the net asset value per common share, the Plan Administrator will invest the Dividend amount in Newly Issued Common Shares on behalf of the participants. The number of Newly Issued Common Shares to be credited to each
        participant&#8217;s account will be determined by dividing the dollar amount of the Dividend by the net asset value per common share on the payment date; provided that, if the net asset value is less than or equal to 95% of the closing market value on
        the payment date, the dollar amount of the Dividend will be divided by 95% of the closing market price per common share on the payment date. If, on the payment date for any Dividend, the net asset value per common share is greater than the closing
        market value plus estimated brokerage commission, the Plan Administrator will invest the Dividend amount in common shares acquired on behalf of the participants in Open-Market Purchases.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">If, before the Plan Administrator has completed its Open-Market Purchases, the market price per common share exceeds the net asset value per common share, the average per common
        share purchase price paid by the Plan Administrator may exceed the net asset value of the common shares, resulting in the acquisition of fewer common shares than if the Dividend had been paid in Newly Issued Common Shares on the Dividend payment
        date. Because of the foregoing difficulty with respect to Open-Market Purchases, the Plan provides that if the Plan Administrator is unable to invest the full Dividend amount in Open-Market Purchases during the purchase period or if the market
        discount shifts to a market premium during the purchase period, the Plan Administrator may cease making Open-Market Purchases and may invest the uninvested portion of the Dividend amount in Newly Issued Common Shares at net asset value per common
        share at the close of business on the Last Purchase Date provided that, if the net asset value is less than or equal to 95% of the then current market price per common share; the dollar amount of the Dividend will be divided by 95% of the market
        price on the payment date.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 71</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z3bfa66b369ff45859affa3b14211936a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 75.76%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 24.24%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 75.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">DIVIDEND REINVESTMENT PLAN (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 24.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Plan Administrator maintains all shareholders&#8217; accounts in the Plan and furnishes written confirmation of all transactions in the accounts, including information needed by
        shareholders for tax records. Common shares in the account of each Plan participant will be held by the Plan Administrator on behalf of the Plan participant, and each shareholder proxy will include those shares purchased or received pursuant to the
        Plan. The Plan Administrator will forward all proxy solicitation materials to participants and vote proxies for shares held under the Plan in accordance with the instruction of the participants.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">There will be no brokerage charges with respect to common shares issued directly by the Fund. However, each participant will pay a pro rata share of brokerage commission incurred
        in connection with Open-Market Purchases. The automatic reinvestment of Dividends will not relieve participants of any Federal, state or local income tax that may be payable (or required to be withheld) on such Dividends.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund reserves the right to amend or terminate the Plan. There is no direct service charge to participants with regard to purchases in the Plan; however, the Fund reserves the
        right to amend the Plan to include a service charge payable by the participants.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">All correspondence or questions concerning the Plan should be directed to the Plan Administrator, Computershare Trust Company, N.A., P.O. Box 30170 College Station, TX
        77842-3170; Attention: Shareholder Services Department, Phone Number: (866) 488-3559 or online at www.computershare.com/investor.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">72 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="zac75f61945a346df8c8cb4202612c641" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.76%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 23.24%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">CONSIDERATIONS REGARDING ANNUAL REVIEW OF THE</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 76.76%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">INVESTMENT MANAGEMENT AGREEMENT (Unaudited)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 23.24%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">In discussing the factors and other considerations summarized below, the Board noted that it generally receives, reviews and evaluates information concerning the performance of
        the Fund and the services and personnel of Advent and its affiliates at quarterly meetings of the Board. While emphasis might be placed on information concerning the investment performance of the Fund, its fees and expenses in comparison with other
        funds&#8217; fees and other matters at the meeting at which the renewal of the Investment Management Agreement is considered, the process of evaluating the Fund&#8217;s investment management arrangements is an ongoing one. The Board did not identify any one
        particular factor that was controlling or of paramount importance in its deliberations and each individual Trustee may have weighed the information provided differently. The information below represents a summary of certain aspects of the more
        detailed discussions held by the Board and does not necessarily include all information considered by the Trustees.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Nature, Extent and Quality of Services</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Independent Trustees received and considered various data and information regarding the nature, extent and quality of services provided to the Fund by Advent under the
        Investment Management Agreement. The Independent Trustees reviewed and considered the information provided by Advent in response to a detailed series of requests submitted on behalf of the Independent Trustees by their independent legal counsel.
        The Independent Trustees were provided with, among other things, information about the background, experience and expertise of the management and other personnel of Advent and the services provided by that organization to the Fund. The Independent
        Trustees discussed the quality of the services provided. The compliance history of Advent was discussed, along with the ability of Advent to provide services to the Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Independent Trustees evaluated the capabilities of Advent, including information regarding its resources and ability to attract and retain highly qualified investment and
        other professionals. The Independent Trustees also considered the commitment of Advent to the Fund. The Independent Trustees discussed the portfolio managers at Advent responsible for portfolio management for the Fund, including the involvement of
        Mr. Maitland, and other personnel at Advent.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Based on the above factors, together with those referenced below, the Independent Trustees concluded that they were satisfied with the nature, extent and quality of the
        investment management services provided to the Fund by Advent.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Fund Performance and Expenses</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Independent Trustees considered the Fund&#8217;s performance on a market price and net asset value basis over various time periods. They also considered the performance of the Fund
        in comparison to the performance results of other closed-end funds that were determined to be similar to the Fund in terms of investment strategy (the &#8220;Peer Group&#8221;). The Independent Trustees recognized that the number of other funds in the Peer
        Group was small and that, for a variety of reasons, including exposures to types of assets that significantly vary from those held by the Fund, the Peer Group comparison may have limited usefulness in evaluating Fund performance. The Board also was
        aware that the performance benchmark indexes may not be fully probative in making comparisons due to the fact that the securities included in the benchmarks may include convertibles, high yield or other</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 73</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z5bdc6f5d19db479d8fd84a8f39053191" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 81.81%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">CONSIDERATIONS REGARDING ANNUAL REVIEW OF THE</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 18.19%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 81.81%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">INVESTMENT MANAGEMENT AGREEMENT (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 18.19%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">securities with characteristics unlike those purchased by the Fund or in amounts that vary materially from the Fund&#8217;s typical holdings. The Board noted that the Fund ranked in
        the middle of its Peer Group for the one-year period ended October 31, 2018. The Fund also trailed its benchmark indexes during the one-year period.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Board noted that it had discussions with Advent about the performance of the Fund. The Board noted that the Fund is managed consistent with its stated policies and strategies
        and that the Fund would tend to underperform in relation to funds with high common stock exposure in rising equity markets. The Independent Trustees considered the steps management has historically taken, and the activities it presently undertakes,
        to seek to improve performance, and will continue to monitor performance on an on-going basis. The Board discussed the merger of two other affiliated closed-end funds into the Fund during the period. The Board also reviewed information about the
        discount at which each Fund&#8217;s shares have traded as compared with its peers.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Independent Trustees received and considered information regarding the Fund&#8217;s total expense ratio relative to its peers, noting that the Fund generally had a higher expense
        ratio (based on common assets) than funds in the Peer Group. The Independent Trustees acknowledged that the expense ratio was often higher than the expense ratios of certain Peer Group funds for several reasons because of the Fund&#8217;s use of leverage
        and longer-term borrowings and that certain funds in the Peer Group had no leverage or lower leverage and therefore reported lower expense ratios. The Board noted that in the most recent year, the Fund had incurred extraordinary expenses related
        its merger with other funds. The costs of leverage were also considered and the potential benefits of the continued use of leverage were considered. The Independent Trustees also noted that expense ratio comparisons with Peer Groups were difficult
        because the items included in other funds&#8217; expenses may differ from those of the Fund.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Based on the above considerations, discussions and other factors, the Independent Trustees concluded that the overall performance results and expense comparisons supported the
        re-approval of the Investment Management Agreement.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Investment Management and Advisory Fee Rates</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Independent Trustees reviewed and considered the contractual investment management fee rates for the Fund in comparison with those of the funds in the Peer Group. The
        Independent Trustees also received and considered information about the nature, extent and quality of services and fee rates offered by Advent to its other clients. In particular, Advent confirmed that the Fund differs from certain other accounts
        advised by Advent in that they are more complex to manage, require greater resources from Advent and differ in terms of investment strategy and use of leverage. The Independent Trustees also noted the differing services provided by Advent to the
        Funds in relation to those typically provided to private funds and separate accounts. The Independent Trustees were also aware of the regulatory, reputational, compliance and operational risks faced by Advent in providing services to the Fund,
        which are generally greater than presented in providing services to clients other than registered funds. Based on the totality of the information they reviewed, the Independent Trustees concluded that the fees were fair and reasonable.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">74 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z3671b1406b784ed992f9a548a65f59ad" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 81.81%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 18.19%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 81.81%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">CONSIDERATIONS REGARDING ANNUAL REVIEW OF THE</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 18.19%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 81.81%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">INVESTMENT MANAGEMENT AGREEMENT (Unaudited) continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 18.19%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Profitability</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Independent Trustees received and considered estimated profitability analyses of Advent. The Independent Trustees also discussed with representatives of Advent the
        methodologies used to determine profitability. The Independent Trustees considered the nature of the services provided, their benefits to the Fund, and the extensive resources required to provide those services. In addition, the Independent
        Trustees considered whether any direct or indirect collateral benefits inured to Advent as a result of its affiliation with the Fund. The Independent Trustees concluded that the profits and other ancillary benefits that Advent received with regard
        to providing services to the Fund were not unreasonable.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Economies of Scale</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Independent Trustees received and considered information regarding whether there have been economies of scale with respect to the management of the Fund and whether it has
        appropriately benefited from any economies of scale, and whether there is potential for realization of any further economies of scale. It was noted that, because the Fund is a closed-end fund, any increase in asset levels generally would have to
        come from material appreciation through investment performance and the Independent Trustees concluded that the opportunity to benefit from economies of scale was diminished in the context of closed-end funds. The Independent Trustees took note of
        the increased asset size of the Fund as a result of a recent merger and Advent&#8217;s belief that shareholders have benefited from the merger with the caveat that results are preliminary because a full fiscal year has not been completed since the merger
        was consummated.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Conclusion</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">After consideration of the factors discussed above and other information considered by the Independent Trustees, the Board, including the Independent Trustees, unanimously voted
        to approve the Investment Management Agreement for an additional one-year term.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">
        <div style="text-align: right;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND INCOME FUND ANNUAL REPORT l 75</div>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div style="font-family: Arial;">&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z80843327a2f54a838cb72471a2d63f35" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 55.57%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 44.43%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 55.57%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">FUND INFORMATION</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 44.43%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z971253493eb64ca292c98d059404c56f" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Board of Trustees</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Investment Adviser</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Randall C. Barnes</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Advent Capital Management, LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">New York, NY</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Daniel L. Black</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;" rowspan="1">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;">Servicing Agent</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Tracy V. Maitland,*</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Guggenheim Funds Distributors, LLC</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-style: italic;">Chairman</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial;">Chicago, IL</font><font style="font-family: Arial;"> </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;"><br>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Derek Medina</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;">
              <div>
                <div style="font-family: 'Times New Roman';"><font style="font-family: Arial; font-weight: bold;">Accounting Agent and Custodian</font><font style="font-family: Arial;"> <br>
                  </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;" rowspan="1">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">The Bank of New York Mellon</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;" rowspan="1">
              <div><font style="font-family: Arial;">Ronald A. Nyberg</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;" rowspan="1">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">New York, NY</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 100%; vertical-align: middle; font-family: Arial;" colspan="2">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Gerald L. Seizert</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;"><font style="font-family: Arial; font-weight: bold;">Administrator</font><font style="font-family: Arial;"> </font></td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;"><br>
            </td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;">
              <div>
                <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">MUFG Investor Services (US), LLC</font><font style="font-family: Arial;"> </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom; font-family: Arial;">
              <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">Michael A. Smart</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial;">Rockville, MD</font><font style="font-family: Arial;"> </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><br>
              </div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;">
              <div>
                <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;"><br>
                  </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">* Trustee is an &#8220;interested person&#8221; of the Fund</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;">
              <div><font style="font-weight: bold;">Transfer Agent</font> </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div style="text-indent: 6.4pt;"><font style="font-family: Arial;">as defined in the Investment Company Act of</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial;">Computershare Trust Company, N.A.</font><font style="font-family: Arial;"> </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div style="text-indent: 6.4pt;"><font style="font-family: Arial;">1940, as amended.</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial;">Jersey City, NJ</font><font style="font-family: Arial;"> </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 48.48%; vertical-align: bottom;" rowspan="1">
              <div><font style="font-family: Arial;"><br>
                </font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;" rowspan="1"><font style="font-family: Arial; font-weight: bold;">Officers</font><font style="font-family: Arial;"> </font></td>
            <td style="width: 48.48%; vertical-align: bottom;" rowspan="1"><font style="font-family: Arial; font-weight: bold;">Legal Counsel</font><font style="font-family: Arial;"> </font></td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Tracy V. Maitland</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial;">Skadden, Arps, Slate, Meagher</font><font style="font-family: Arial;"> </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-style: italic;">President and Chief Executive Officer</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial;">&amp; Flom LLP</font><font style="font-family: Arial;"> </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;" rowspan="1">&#160;</td>
            <td style="width: 48.48%; vertical-align: bottom;" rowspan="1">
              <div><font style="font-family: Arial;">New York, NY</font><font style="font-family: Arial;"> </font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;" rowspan="1">
              <div><font style="font-family: Arial;">Robert White</font><font style="font-family: Arial;"> <br>
                </font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;" rowspan="1">
              <div><font style="font-family: Arial;"><br>
                </font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-style: italic;">Treasurer and Chief Financial Officer</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Independent Registered Public</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Accounting Firm</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Edward C. Delk</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;"><font style="font-family: Arial;">PricewaterhouseCoopers LLP</font><font style="font-family: Arial;"> </font></td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-style: italic;">Secretary and Chief Compliance Officer</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom; font-family: Arial;">
              <div>
                <div style="font-family: 'Times New Roman';"><font style="font-family: Arial;">New York, NY</font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom; font-family: Arial;"><br>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div>
                <div><font style="font-family: Arial;">&#160;<br>
                  </font></div>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Tony Huang</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div><br>
              </div>
            </td>
          </tr>
          <tr>
            <td style="width: 51.52%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-style: italic;">Vice President and Assistant Secretary</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 48.48%; vertical-align: bottom;">
              <div><br>
              </div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;">76 l <font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE
        AND INCOME FUND ANNUAL REPORT</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageBreak" style="page-break-after:always;">
          <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
      </div>
      <div>&#160;</div>
      <div style="font-family: Arial;"><br>
      </div>
      <table cellspacing="0" cellpadding="0" id="z43767f77cfe04d9c87563bdeca74a54e" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 61.63%; vertical-align: middle; font-family: Arial;">&#160;</td>
            <td style="width: 38.37%; vertical-align: middle; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 61.63%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div><font style="font-family: Arial; font-weight: bold;">FUND INFORMATION continued</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 38.37%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: right;"><font style="font-family: Arial;">October 31, 2019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
          </tr>

      </table>
      <div style="font-family: Arial;">&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Portfolio Managers of the Fund</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The individuals who are primarily responsible for the day-to-day management of the Fund&#8217;s portfolio include Tracy Maitland (President and Chief Investment Officer of Advent),
        Paul Latronica (Managing Director of Advent) and Tony Huang (Director of Advent). Mr. Maitland and Mr. Latronica are portfolio managers and Mr. Huang is an associate portfolio manager.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Privacy Principles of the Fund</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund is committed to maintaining the privacy of its shareholders and to safeguarding their non-public personal information. The following information is provided to help you
        understand what personal information the Fund collects, how the Fund protects that information and why, in certain cases, the Fund may share information with select other parties.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Generally, the Fund does not receive any non-public personal information relating to its shareholders, although certain non-public personal information of its shareholders may
        become available to the Fund. The Fund does not disclose any non-public personal information about its shareholders or former shareholders to anyone, except as permitted by law or as is necessary in order to service shareholder accounts (for
        example, to a transfer agent or third party administrator).</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund restricts access to non-public personal information about its shareholders to employees of the Fund&#8217;s Investment Adviser and its affiliates with a legitimate business
        need for the information. The Fund maintains physical, electronic and procedural safeguards designed to protect the non-public personal information of its shareholders.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Questions concerning your shares of Advent Convertible and Income Fund?</div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z313e981ab6674f0f8767fded3a2c9f15" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; font-family: Arial;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top; font-family: Arial;">
                <div>If your shares are held in a Brokerage Account, contact your Broker.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" id="ze750002e20f7433e9dfa841c9fcfd944" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 36pt; vertical-align: top; font-family: Arial;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div><font style="font-family: Arial;">If you have physical possession of your shares in certificate form, contact the Fund&#8217;s Transfer Agent:</font><font style="font-family: Arial;">&#160;</font><font style="font-family: Arial;">Computershare
                    Trust Company, N.A., P.O. Box 30170, College Station, TX 77842-3170; (866) 488-3559 or online</font><font style="font-family: Arial;">&#160;</font><font style="font-family: Arial;">at www.computershare.com/investor.</font></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">This report is sent to shareholders of Advent Convertible and Income Fund for their information. It is not a Prospectus, circular or representation intended for use in the
        purchase or sale of shares of the Fund or of any securities mentioned in this report.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">A description of the Fund&#8217;s proxy voting policies and procedures related to portfolio securities is available without charge, upon request, by calling the Fund at (866) 274-2227.
        Information regarding how the Fund voted proxies for portfolio securities, if applicable, during the most recent 12-month period ended June 30, is also available, without charge and upon request by calling the Fund at (866) 274-2227, by visiting
        the Fund&#8217;s website at guggenheiminvestments.com/avk or by accessing the Fund&#8217;s Form N-PX on the U.S. Securities &amp; Exchange Commission&#8217;s (&#8220;SEC&#8221;) website at www.sec.gov.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT, and for
        reporting periods ended prior to July 31, 2019, filed such information on Form N-Q. The Fund&#8217;s Forms N-PORT and N-Q are available on the SEC&#8217;s website at https://www.sec.gov. The Fund&#8217;s Forms N-PORT and N-Q may be reviewed and copied at the SEC&#8217;s
        Public Reference Room in Washington, DC, and that information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330. Copies of the portfolio holdings are also available to shareholders, without charge and upon
        request, by calling 800.820.0888.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Notice to Shareholders</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Notice is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as amended that the Fund from time to time may purchase shares of its common stock
        in the open market or in private transactions.</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"><font style="font-weight: bold;">AVK </font>l ADVENT CONVERTIBLE AND
        INCOME FUND ANNUAL REPORT l 77</div>
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      <div>&#160;</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">ABOUT THE FUND MANAGER
        <hr noshade="noshade" align="center" style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;"></div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Advent Capital Management, LLC</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent Capital Management, LLC (&#8220;Advent&#8221;) is a registered investment adviser, based in New York, which specializes in convertible and high-yield securities for institutional and
        individual investors. The firm was established by Tracy V. Maitland, a former Director in the Convertible Securities sales and trading division of Merrill Lynch. Advent&#8217;s investment discipline emphasizes capital structure research, encompassing
        equity fundamentals as well as credit research, with a focus on cash flow and asset values while seeking to maximize total return.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Investment Philosophy</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent believes that superior returns can be achieved while reducing risk by investing in a diversified portfolio of global equity, convertible and high-yield securities. Advent
        seeks securities with attractive risk/reward characteristics. Advent employs a bottom-up security selection process across all of the strategies it manages. Securities are chosen from those that Advent believes have stable-to-improving fundamentals
        and attractive valuations.</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">Investment Process</div>
      <div style="margin-top: 12pt; margin-bottom: 12pt; font-family: Arial;">Advent manages securities by using a strict four-step process:</div>
      <table cellspacing="0" cellpadding="0" id="zae66cbb74457443289b253ed22a59e24" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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              <div><font style="font-family: Arial; font-weight: bold;">1</font><font style="font-family: Arial;">&#160; &#160; &#160;</font></div>
            </td>
            <td style="width: 95.28%; vertical-align: middle; font-family: Arial;" colspan="2">
              <div>Screen the convertible and high-yield markets for securities with attractive risk/reward characteristics and favorable cash flows;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 4.72%; vertical-align: top;">
              <div><font style="font-family: Arial; font-weight: bold;">2</font><font style="font-family: Arial;">&#160; &#160; &#160;</font></div>
            </td>
            <td style="width: 95.28%; vertical-align: middle; font-family: Arial;" colspan="2">
              <div>Analyze the quality of issues to help manage downside risk;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 4.72%; vertical-align: top;">
              <div><font style="font-family: Arial; font-weight: bold;">3</font><font style="font-family: Arial;">&#160; &#160; &#160;</font></div>
            </td>
            <td style="width: 95.28%; vertical-align: middle; font-family: Arial;" colspan="2">
              <div>Analyze fundamentals to identify catalysts for favorable performance; and</div>
            </td>
          </tr>
          <tr>
            <td style="width: 4.72%; vertical-align: top;">
              <div><font style="font-family: Arial; font-weight: bold;">4</font><font style="font-family: Arial;">&#160; &#160; &#160;</font></div>
            </td>
            <td style="width: 95.28%; vertical-align: middle; font-family: Arial;" colspan="2">
              <div>Continually monitor the portfolio for improving or deteriorating trends in the financials of each investment.</div>
            </td>
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      <div><br>
      </div>
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            <td style="width: 28.09%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Advent Capital Management, LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.84%; vertical-align: bottom;">
              <div><font style="font-family: Arial; font-weight: bold;">Guggenheim Funds Distributors, LLC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 42.07%; vertical-align: top; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 28.09%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">888 Seventh Avenue, 31st Floor</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.84%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">227 West Monroe Street</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 42.07%; vertical-align: top; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 28.09%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">New York, NY 10019</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 29.84%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Chicago, IL 60606</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 42.07%; vertical-align: top; font-family: Arial;">&#160;</td>
          </tr>
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              <div>&#160;</div>
            </td>
            <td style="width: 29.84%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">Member FINRA/SIPC</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
            <td style="width: 42.07%; vertical-align: top; font-family: Arial;">&#160;</td>
          </tr>
          <tr>
            <td style="width: 28.09%; vertical-align: bottom; font-family: Arial;">
              <div>&#160;</div>
            </td>
            <td style="width: 29.84%; vertical-align: bottom;">
              <div><font style="font-family: Arial;">(12/19)</font><font style="font-family: Arial;">&#160;</font></div>
            </td>
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      <div style="font-family: Arial;">&#160;</div>
      <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">NOT FDIC-INSURED l NOT BANK-GUARANTEED l MAY LOSE VALUE</div>
      <div style="text-align: right; margin-top: 12pt; margin-bottom: 12pt; font-family: Arial; font-weight: bold;">CEF-AVK-AR-1019</div>
    </div>
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    <div style="margin-bottom: 12pt; font-weight: bold;">Item 2.&#160; Code of Ethics.</div>
    <div style="margin-bottom: 12pt;">a)&#160; &#160; &#160; &#160; &#160;&#160; The registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions
      (the &#8220;Code of Ethics&#8221;).</div>
    <div style="margin-bottom: 12pt;">(b)&#160; &#160; &#160; &#160; &#160;&#160; No information need be disclosed pursuant to this paragraph.</div>
    <div style="margin-bottom: 12pt;">(c)&#160; &#160; &#160; &#160; &#160;&#160; The registrant has not amended its Code of Ethics during the period covered by the report presented in Item 1 hereto.</div>
    <div style="margin-bottom: 12pt;">(d)&#160; &#160; &#160; &#160; &#160;&#160; The registrant has not granted a waiver or an implicit waiver to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar
      functions from a provision of its Code of Ethics during the period covered by this report.</div>
    <div style="margin-bottom: 12pt;">(e)&#160; &#160; &#160; &#160; &#160;&#160; Not applicable.</div>
    <div style="margin-bottom: 12pt;">(f)&#160; &#160; &#160; &#160; &#160;&#160; (1) The registrant&#8217;s Code of Ethics is attached hereto as Exhibit (a)(1).</div>
    <div style="margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(2)&#160; Not applicable.</div>
    <div style="margin-bottom: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(3)&#160; Not applicable.</div>
    <div style="margin-bottom: 12pt;">&#160;<font style="font-weight: bold;">Item 3.&#160; Audit Committee Financial Expert.</font></div>
    <div style="margin-bottom: 12pt;">The registrant&#8217;s Board of Trustees has determined that it has six audit committee financial experts serving on its audit committee (the &#8220;Audit Committee&#8221;), each of whom is an &#8220;independent&#8221; Trustee, as defined in Item 3
      of Form N-CSR: Randall C. Barnes, Daniel L. Black, Derek M. Medina, Ronald A. Nyberg, Gerald L. Seizert and Michael A. Smart.</div>
    <div style="margin-bottom: 12pt;">Mr. Barnes qualifies as an audit committee financial expert by virtue of his experience obtained as a former Senior Vice President, Treasurer of PepsiCo, Inc.</div>
    <div style="margin-bottom: 12pt;">Mr. Black qualifies as an audit committee financial expert by virtue of his experience obtained as a partner of a private equity firm, which includes review and analysis of audited and unaudited financial statements
      using generally accepted accounting principles (&#8220;GAAP&#8221;) to show accounting estimates, accruals and reserves.</div>
    <div style="margin-bottom: 12pt;">Mr. Medina qualifies as an audit committee financial expert by virtue of his experience obtained as a Senior Vice President, Business Affairs of ABC News and as a former associate in Corporate Finance at J.P.
      Morgan/Morgan Guaranty, which includes review and analysis of audited and unaudited financial statements using GAAP to show accounting estimates, accruals and reserves.</div>
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    </div>
    <div style="margin-bottom: 12pt;">Mr. Nyberg qualifies as an audit committee financial expert by virtue of his experience obtained as a former Executive Vice President, General Counsel and Secretary of Van Kampen Investments, which included review and
      analysis of offering documents and audited and unaudited financial statements using GAAP to show accounting estimates, accruals and reserves.</div>
    <div style="margin-bottom: 12pt;">Mr. Seizert qualifies as an audit committee financial expert by virtue of his experience obtained as the chief executive officer and portfolio manager of an asset management company, which includes review and analysis
      of audited and unaudited financial statements using GAAP to show accounting estimates, accruals and reserves.</div>
    <div style="margin-bottom: 12pt;">Mr. Smart qualifies as an audit committee financial expert by virtue of his experience obtained as a managing partner of a private equity firm and a former Vice President at Merrill Lynch &amp; Co, which includes
      review and analysis of audited and unaudited financial statements using GAAP to show accounting estimates, accruals and reserves.</div>
    <div style="margin-bottom: 12pt;">(Under applicable securities laws, a person who is determined to be an audit committee financial expert will not be deemed an &#8220;expert&#8221; for any purpose, including without limitation for the purposes of Section 11 of the
      Securities Act of 1933, as amended, as a result of being designated or identified as an audit committee financial expert.&#160; The designation or identification of a person as an audit committee financial expert does not impose on such person any duties,
      obligations, or liabilities that are greater than the duties, obligations, and liabilities imposed on such person as a member of the Audit Committee and Board of Trustees in the absence of such designation or identification.&#160; The designation or
      identification of a person as an audit committee financial expert pursuant to this Item does not affect the duties, obligations, or liability of any other member of the Audit Committee or Board of Trustees.)</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 4.&#160; Principal Accountant Fees and Services.</div>
    <div style="margin-bottom: 12pt;">(a) Audit Fees:&#160; the aggregate fees billed for professional services rendered by the principal accountant for the audit of the registrant&#8217;s annual financial statements or services that are normally provided by the
      accountant in connection with statutory and regulatory filings or engagements were $100,000 and $140,000 for the fiscal years ended October 31, 2019, and October 31, 2018, respectively.</div>
    <div style="margin-bottom: 12pt;">(b) Audit-Related Fees: the aggregate fees billed for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant&#8217;s financial statements, and
      are not reported under paragraph 4(a) of this Item, were $0 and $0 for the fiscal years ended October 31, 2019, and October 31, 2018, respectively. <br>
    </div>
    <div style="margin-bottom: 12pt;">The registrant&#8217;s principal accountant did not bill fees for tax services not included in Items 4(a), (b) or (c) above that required approval by the Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of
      Regulation S-X during the registrant&#8217;s last two fiscal years.</div>
    <div style="margin-bottom: 12pt;">(c) Tax Fees: the aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning, including federal, state and local income tax return preparation
      and related advice and determination of taxable income and miscellaneous tax advice were $17,510 and $17,510 for the fiscal years ended October 31, 2019, and October 31, 2018, respectively.</div>
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    <div style="margin-bottom: 12pt;">The registrant&#8217;s principal accountant did not bill fees for non-audit services that required approval by the Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X during the registrant&#8217;s last
      two fiscal years.</div>
    <div style="margin-bottom: 12pt;">(d)&#160; All Other Fees: the aggregate fees billed for products and services provided by the principal accountant, other than the services reported in paragraphs 4(a), 4(b) or 4(c) of this Item were $0 and $0 for the
      fiscal years ended October 31, 2019, and October 31, 2018, respectively.</div>
    <div style="margin-bottom: 12pt;">The registrant&#8217;s principal accountant did not bill fees for non-audit services that required approval by the Audit Committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X during the registrant&#8217;s last
      two fiscal years.</div>
    <div style="margin-bottom: 12pt;">(e)&#160; Audit Committee Pre-Approval Policies and Procedures.</div>
    <div style="margin-bottom: 12pt;">(1)&#160;&#160; In accordance with Rule 2-01(c)(7) of Regulation S-X, the Audit Committee pre-approves all of the Audit and Tax Fees of the registrant. All of the services described in paragraphs 4(b) through 4(d) above were
      approved by the Audit Committee in accordance with paragraph (c)(7) of Rule 2-01 of Regulation S-X.</div>
    <div style="margin-bottom: 12pt;">The Audit Committee has adopted written policies relating to the pre-approval of the audit and non-audit services performed by the registrant&#8217;s independent auditors. Unless a type of service to be provided by the
      independent auditors has received general pre-approval, it requires specific pre-approval by the Audit Committee. Under the policies, on an annual basis, the Audit Committee reviews and pre-approves the services to be provided by the independent
      auditors without having to obtain specific pre-approval from the Audit Committee. The Audit Committee has delegated pre-approval authority to the Audit Committee Chairperson. In addition, the Audit Committee pre-approves any permitted non-audit
      services to be provided by the independent auditors to the registrant&#8217;s investment adviser or any entity controlling, controlled by, or under common control with the adviser if such services relate directly to the operations and financial reporting
      of the registrant.</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">AUDIT COMMITTEE PRE-APPROVAL POLICY OF</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">ADVENT CONVERTIBLE AND INCOME FUND</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Statement of Principles</div>
    <div style="margin-bottom: 12pt;">The Audit Committee (the &#8220;Audit Committee&#8221;) of the Board of Trustees (the &#8220;Board&#8221;) of Advent&#160; Convertible and Income Fund (the &#8220;Trust,&#8221;) is required to pre-approve all Covered Services (as defined in the Audit
      Committee Charter) in order to assure that the provision of the Covered Services does not impair the auditors&#8217; independence.&#160; Unless a type of service to be provided by the Independent Auditor (as defined in the Audit Committee Charter) is
      pre-approved in accordance with the terms of this Audit Committee Pre-Approval Policy (the &#8220;Policy&#8221;), it will require specific pre-approval by the Audit Committee or by any member of the Audit Committee to which pre-approval authority has been
      delegated.</div>
    <div style="margin-bottom: 12pt;">This Policy and the appendices to this Policy describe the Audit, Audit-Related, Tax and All Other services that are Covered Services and that have been pre-approved under this Policy.&#160; The appendices hereto sometimes
      are referred to herein as the &#8220;Service Pre-Approval Documents&#8221;.&#160; The term of any such pre-approval is 12 months from the date of pre-approval, unless the Audit Committee specifically provides for a different period.&#160; At its June meeting of each
      calendar year, the Audit Committee will review and re-approve this Policy and approve or re-approve the Service </div>
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    <div style="margin-bottom: 12pt;">Pre-Approval Documents for that year, together with any changes deemed necessary or desirable by the Audit Committee.&#160; The Audit Committee may, from time to time, modify the nature of the services pre-approved, the
      aggregate level of fees pre-approved or both.&#160; The Audit Committee hereby directs that each version of this Policy and the Service Pre-Approval Documents approved, re-approved or amended from time to time be maintained with the books and records of
      the Trust.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Delegation</div>
    <div style="margin-bottom: 12pt;">In the intervals between the scheduled meetings of the Audit Committee, the Audit Committee delegates pre-approval authority under this Policy to the Chairman of the Audit Committee (the &#8220;Chairman&#8221;).&#160; The Chairman
      shall report any pre-approval decisions under this Policy to the Audit Committee at its next scheduled meeting. At each scheduled meeting, the Audit Committee will review with the Independent Auditor the Covered Services pre-approved by the Chairman
      pursuant to delegated authority, if any, and the fees related thereto.&#160; Based on these reviews, the Audit Committee can modify, at its discretion, the pre-approval originally granted by the Chairman pursuant to delegated authority.&#160; This modification
      can be to the nature of services pre-approved, the aggregate level of fees approved, or both.&#160; The Audit Committee expects pre-approval of Covered Services by the Chairman pursuant to this delegated authority to be the exception rather than the rule
      and may modify or withdraw this delegated authority at any time the Audit Committee determines that it is appropriate to do so.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Pre-Approved Fee Levels</div>
    <div style="margin-bottom: 12pt;">Fee levels for all Covered Services to be provided by the Independent Auditor and pre-approved under this Policy will be established annually by the Audit Committee and set forth in the Service Pre-Approval Documents.&#160;
      Any increase in pre-approved fee levels will require specific pre-approval by the Audit Committee (or the Chairman pursuant to delegated authority).</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Audit Services</div>
    <div style="margin-bottom: 12pt;">The terms and fees of the annual Audit services engagement for the Trust are subject to the specific pre-approval of the Audit Committee. The Audit Committee will approve, if necessary, any changes in terms, conditions
      or fees resulting from changes in audit scope, Trust structure or other matters.</div>
    <div style="margin-bottom: 12pt;">In addition to the annual Audit services engagement specifically approved by the Audit Committee, any other Audit services for the Trust not listed in the Service Pre-Approval Document for the respective period must be
      specifically pre-approved by the Audit Committee (or the Chairman pursuant to delegated authority).</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Audit-Related Services</div>
    <div style="margin-bottom: 12pt;">Audit-Related services are assurance and related services that are not required for the audit, but are reasonably related to the performance of the audit or review of the financial statements of the Trust and, to the
      extent they are Covered Services, the other Covered Entities (as defined in the Audit Committee Charter) or that are traditionally performed by the Independent Auditor.&#160; Audit-Related services that are Covered Services and are not listed in the
      Service Pre-Approval Document for the respective period must be specifically pre-approved by the Audit Committee (or the Chairman pursuant to delegated authority).</div>
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    <div style="margin-bottom: 12pt; font-weight: bold;">Tax Services</div>
    <div style="margin-bottom: 12pt;">The Audit Committee believes that the Independent Auditor can provide Tax services to the Covered Entities such as tax compliance, tax planning and tax advice without impairing the auditor&#8217;s independence.&#160; However, the
      Audit Committee will not permit the retention of the Independent Auditor in connection with a transaction initially recommended by the Independent Auditor, the sole business purpose of which may be tax avoidance and the tax treatment of which may not
      be supported in the Internal Revenue Code and related regulations.&#160; Tax services that are Covered Services and are not listed in the Service Pre-Approval Document for the respective period must be specifically pre-approved by the Audit Committee (or
      the Chairman pursuant to delegated authority).</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">All Other Services</div>
    <div style="margin-bottom: 12pt;">All Other services that are Covered Services and are not listed in the Service Pre-Approval Document for the respective period must be specifically pre-approved by the Audit Committee (or the Chairman pursuant to
      delegated authority).</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Procedures</div>
    <div style="margin-bottom: 12pt;">Requests or applications to provide Covered Services that require approval by the Audit Committee (or the Chairman pursuant to delegated authority) must be submitted to the Audit Committee or the Chairman, as the case
      may be, by both the Independent Auditor and the Chief Financial Officer of the respective Covered Entity, and must include a joint statement as to whether, in their view, (a) the request or application is consistent with the SEC&#8217;s rules on auditor
      independence and (b) the requested service is or is not a non-audit service prohibited by the SEC.&#160; A request or application submitted to the Chairman between scheduled meetings of the Audit Committee should include a discussion as to why approval is
      being sought prior to the next regularly scheduled meeting of the Audit Committee.</div>
    <div style="margin-bottom: 12pt;">(2)&#160;&#160; None of the services described in each of Items 4 (b) through (d) were approved by the Audit Committee pursuant to paragraph (c)(7)(C) of Rule 2-01 of Regulation S-X.</div>
    <div style="margin-bottom: 12pt;">(f) Not applicable.</div>
    <div style="margin-bottom: 12pt;">(g) The aggregate non-audit fees billed by the registrant&#8217;s accountant for services rendered to the registrant, the registrant&#8217;s investment adviser (not including a sub-adviser whose role is primarily portfolio
      management and is sub-contracted with or overseen by another investment adviser) and/or any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant that directly related to the
      operations and financial reporting of the registrant were $17,510 and $17,510 for the fiscal years ended October 31, 2019, and October 31, 2018, respectively.</div>
    <div style="margin-bottom: 12pt;">(h) Not applicable.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 5.&#160; Audit Committee of Listed Registrants.</div>
    <div style="margin-bottom: 12pt;">a)&#160;&#160; The Audit Committee was established as a separately designed standing audit committee in accordance with Section 3(a)(58)(A) of the Securities Exchange Act of 1934 as amended.&#160; The Audit Committee of the
      registrant is composed of: Randall C. Barnes, Daniel L. Black, Derek M. Medina, Ronald A. Nyberg, Gerald L. Seizert and Michael A. Smart.</div>
    <div style="margin-bottom: 12pt;">b)&#160;&#160; Not applicable.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 6.&#160; Schedule of Investments.</div>
    <div style="margin-bottom: 12pt;">The Schedule of Investments is included as part of Item 1.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 7.&#160; Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</div>
    <div style="margin-bottom: 12pt;">The registrant has delegated the voting of proxies relating to its voting securities to its investment manager, Advent Capital Management, LLC (the &#8220;Manager&#8221;).&#160; The Manager&#8217;s Proxy Voting Policies and Procedures are
      included as Exhibit (c) attached hereto.</div>
    <div style="margin-bottom: 12pt;"><font style="font-weight: bold;">Item 8.</font> <font style="font-weight: bold;">Portfolio Managers of Closed-End Management Investment Companies.</font></div>
    <div style="margin-bottom: 12pt;">a) (1) The individuals who are primarily responsible for the day-to-day management of the Fund&#8217;s portfolio (the &#8220;Portfolio Managers&#8221;) include Tracy Maitland (President and Chief Investment Officer of Advent), Paul
      Latronica (Managing Director of Advent) and Tony Huang (Director of Advent).&#160; Mr. Maitland and Mr. Latronica are portfolio managers and Mr. Huang is an associate portfolio manager.&#160; The Portfolio Managers are supported by teams of investment
      professionals who make investment decisions for the Fund&#8217;s core portfolio of convertible bonds, the Fund&#8217;s high yield securities investments and the Fund&#8217;s leverage allocation, respectively.&#160; The following provides information regarding the Portfolio
      Managers as of October 31, 2019.</div>
    <table cellspacing="0" cellpadding="0" id="zbfd32b17096a4073a156985bf371600a" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 26.32%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>Name</div>
          </td>
          <td style="width: 19.2%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center;">Since</div>
          </td>
          <td style="width: 54.48%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>Professional Experience</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Tracy Maitland</div>
          </td>
          <td style="width: 19.2%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">2003</div>
            <div style="text-align: center;">(Inception)</div>
          </td>
          <td style="width: 54.48%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Founder, President and Chief Investment Officer of Advent Capital Management, LLC.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>Paul Latronica</div>
          </td>
          <td style="width: 19.2%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div style="text-align: center;">2011</div>
          </td>
          <td style="width: 54.48%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>Managing Director of Advent Capital Management, LLC. He has been associated with Advent for more than 15 years.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.32%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Tony Huang</div>
          </td>
          <td style="width: 19.2%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div style="text-align: center;">2019</div>
          </td>
          <td style="width: 54.48%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Director of Advent Capital Management, LLC. He has been associated with Advent for more than 10 years.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="margin-bottom: 12pt;">(a) (2) (i-iii) Other accounts managed. The following summarizes information regarding each of the other accounts managed by them as of October 31, 2019:</div>
    <div><u>Tracy Maitland</u></div>
    <table cellspacing="0" cellpadding="0" id="z9d5d8f3c235244a9b03f076082f01ee7" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 26.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Type of Account</div>
          </td>
          <td style="width: 16.27%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Number of Accounts</div>
          </td>
          <td style="width: 19.08%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Total Assets in the Accounts</div>
          </td>
          <td style="width: 19.09%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Number of Accounts In Which the Advisory Fee is Based on Performance</div>
          </td>
          <td style="width: 19.09%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Total Assets in the Accounts In Which the Advisory Fee is Based on Performance</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Registered investment companies</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>2</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$1,045,940,326.63</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$0</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>Other pooled investment vehicles</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>5</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>$277,073,891.35</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>5</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>$277,073,891.35</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Other accounts</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>545</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>7,808,826,710.71</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$0</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="margin-bottom: 6pt;"><u>Paul Latronica</u></div>
    <table cellspacing="0" cellpadding="0" id="zb50628904fdb49c58859035400412fa3" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 26.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Type of Account</div>
          </td>
          <td style="width: 16.27%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Number of Accounts</div>
          </td>
          <td style="width: 19.08%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Total Assets in the Accounts</div>
          </td>
          <td style="width: 19.09%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Number of Accounts In Which the Advisory Fee is Based on Performance</div>
          </td>
          <td style="width: 19.09%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Total Assets in the Accounts In Which the Advisory Fee is Based on Performance</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Registered investment companies</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>1</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$ 951,120,718.11</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$0.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>Other pooled investment vehicles</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>1</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>$68,581,325.47</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>$0.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Other accounts</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>501</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$3,543,190,498.23</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$0.00</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div><br>
    </div>
    <div><u>Tony Huang</u></div>
    <table cellspacing="0" cellpadding="0" id="z7cb9cc26314d4191a415623de0593028" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

        <tr>
          <td style="width: 26.48%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Type of Account</div>
          </td>
          <td style="width: 16.27%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Number of Accounts</div>
          </td>
          <td style="width: 19.08%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Total Assets in the Accounts</div>
          </td>
          <td style="width: 19.09%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Number of Accounts In Which the Advisory Fee is Based on Performance</div>
          </td>
          <td style="width: 19.09%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div>Total Assets in the Accounts In Which the Advisory Fee is Based on Performance</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Registered investment companies</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$ 0.00</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$0.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>Other pooled investment vehicles</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>1</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>$68,581,325.47</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);">
            <div>$0.00</div>
          </td>
        </tr>
        <tr>
          <td style="width: 26.48%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>Other accounts</div>
          </td>
          <td style="width: 16.27%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>6</div>
          </td>
          <td style="width: 19.08%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$&#160; 1,852,340,297.72</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>0</div>
          </td>
          <td style="width: 19.09%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
            <div>$0.00</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="margin-bottom: 6pt;">(a) (2) (iv) Conflicts of Interest. If another account of the Portfolio Managers has investment objectives and policies that are similar to those of the registrant, the Portfolio Managers will allocate orders pro-rata
      among the registrant and such other accounts, or, if the Portfolio Managers deviate from this policy, the Portfolio Managers will allocate orders such that all accounts (including the registrant) receive fair and equitable treatment.</div>
    <div style="margin-bottom: 12pt;">(a) (3) Compensation Structure.&#160; The salaries of the Portfolio Managers are fixed at an industry-appropriate amount and generally reviewed annually. In addition, a discretionary bonus may be awarded to the Portfolio
      Managers, if appropriate.&#160; Bonuses are generally considered on an annual basis and based upon a variety of factors, including, but not limited to, the overall success of the firm, an individual&#8217;s responsibility and his/her performance versus
      expectations. The bonus is determined by senior management at Advent Capital Management, LLC.&#160; Compensation is based on the entire employment relationship and not based solely on the performance of the registrant or any other single account or type
      of account.&#160; In addition, all Advent Capital Management, LLC employees are also eligible to participate in a 401(k) plan.</div>
    <div style="margin-bottom: 12pt;">(a) (4)&#160;&#160; Securities ownership. The following table discloses the dollar range of equity securities of the registrant beneficially owned by the Portfolio Managers as of October 31, 2018:</div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" id="z2cb3b63729ea4d129d8a8dec0029e873" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

            <tr>
              <td style="width: 40.25%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div>Name of Portfolio Manager</div>
              </td>
              <td style="width: 59.75%; vertical-align: top; border-bottom: #000000 2px solid;">
                <div>Dollar Range of Equity Securities in Fund</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40.25%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div>Tracy Maitland</div>
              </td>
              <td style="width: 59.75%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div>More than $1,000,000</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40.25%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div>Tony Huang</div>
              </td>
              <td style="width: 59.75%; vertical-align: top; background-color: rgb(255, 255, 255);">
                <div>$100,001 - $500,000.</div>
              </td>
            </tr>
            <tr>
              <td style="width: 40.25%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div>Paul Latronica</div>
              </td>
              <td style="width: 59.75%; vertical-align: top; background-color: rgb(204, 238, 255);">
                <div>$10,001- $50,000</div>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
      </div>
    </div>
    <div style="margin-bottom: 12pt;">(b) Not applicable.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 9.&#160; Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.</div>
    <div style="margin-bottom: 12pt;">None.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 10.&#160; Submission of Matters to a Vote of Security Holders.</div>
    <div style="margin-bottom: 12pt;">The registrant has not made any material changes to the procedures by which shareholders may recommend nominees to the registrant&#8217;s Board of Trustees.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 11.&#160; Controls and Procedures.</div>
    <div style="margin-bottom: 12pt;">(a) The registrant&#8217;s principal executive officer and principal financial officer have evaluated the registrant&#8217;s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) as of a
      date within 90 days of this filing and have concluded based on such evaluation, as required by Rule 30a-3(b) under the Investment Company Act, that the registrant&#8217;s disclosure controls and procedures were effective, as of that date, in ensuring that
      information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported within the time periods specified in the Securities and Exchange Commission&#8217;s rules and forms.</div>
    <div style="margin-bottom: 12pt;">(b) There were no changes in the registrant&#8217;s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant&#8217;s period covered by this report
      that have materially affected, or are reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.</div>
    <div style="margin-bottom: 12pt;">(a) The registrant has not participated in securities lending activities during the period covered by this report.</div>
    <div style="margin-bottom: 12pt;">(b) Not applicable.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Item 13.&#160; Exhibits.</div>
    <div style="margin-bottom: 12pt;">(a)(1) Code of Ethics for Chief Executive and Senior Financial Officers.</div>
    <div style="margin-bottom: 12pt;">(a)(2) Certification of principal executive officer and principal financial officer pursuant to Rule 30a-2(a) of the Investment Company Act.</div>
    <div style="margin-bottom: 12pt;">(a)(3) Not applicable.</div>
    <div style="margin-bottom: 12pt;">(b)&#160;&#160;&#160;&#160; Certification of principal executive officer and principal financial officer pursuant to Rule 30a-2(b) of the Investment Company Act and Section 906 of the Sarbanes-Oxley Act of 2002.</div>
    <div style="margin-bottom: 12pt;">(c)&#160;&#160;&#160;&#160;&#160; Proxy Voting Policies and Procedures.</div>
    <br>
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    <div style="margin-bottom: 12pt; font-weight: bold;">SIGNATURES</div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">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.</div>
    <div style="margin-bottom: 12pt;"><u>Advent Convertible and Income Fund</u></div>
    <div style="margin-bottom: 12pt;">By:&#160;&#160;&#160;&#160;&#160;&#160; <u>/s/ Tracy V. Maitland&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
        </u></div>
    <div style="margin-bottom: 12pt;">Name: Tracy V. Maitland</div>
    <div style="margin-bottom: 12pt;">Title:&#160;&#160;&#160; President and Chief Executive Officer</div>
    <div style="margin-bottom: 12pt;">Date:&#160;&#160;&#160; January 2, 2020<br>
    </div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the
      capacities and on the dates indicated.</div>
    <div style="margin-bottom: 12pt;">By:&#160;&#160;&#160;&#160;&#160;&#160; <u>/s/ Tracy V. Maitland&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
        </u></div>
    <div style="margin-bottom: 12pt;">Name: Tracy V. Maitland</div>
    <div style="margin-bottom: 12pt;">Title:&#160;&#160;&#160; President and Chief Executive Officer</div>
    <div style="margin-bottom: 12pt;">Date:&#160;&#160;&#160; January 2, 2020<br>
    </div>
    <div style="margin-bottom: 12pt;">By:&#160;&#160;&#160;&#160;&#160;&#160; <u>/s/ Robert White&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
        </u></div>
    <div style="margin-bottom: 12pt;">Name:&#160; Robert White</div>
    <div style="margin-bottom: 12pt;">Title:&#160;&#160;&#160; Treasurer and Chief Financial Officer</div>
    <div style="margin-bottom: 12pt;">Date:&#160;&#160;&#160; January 2, 2020<br>
    </div>
    <div style="margin-bottom: 12pt;"> <br>
    </div>
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<DOCUMENT>
<TYPE>EX-99.CODE ETH
<SEQUENCE>2
<FILENAME>ex99codeofethics.htm
<DESCRIPTION>CODE OF ETHICS
<TEXT>
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    <div style="text-align: right; margin-bottom: 12pt; font-weight: bold;">EXHIBIT (a)(1)</div>
    <div style="text-align: center; font-weight: bold;">CODE OF ETHICS<br>
      FOR<br>
      CHIEF EXECUTIVE AND SENIOR FINANCIAL OFFICERS<br>
      OF THE<br>
      ADVENT CONVERTIBLE</div>
    <div style="text-align: center; font-weight: bold;">AND INCOME FUND</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;"><br>
      <br>
      AS ADOPTED BY THE BOARD OF TRUSTEES<br>
      JUNE 19, 2003</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">The Advent Convertible and Income Fund (the &#8220;<u>Fund</u>&#8221;) is
      committed to conducting business in accordance with applicable laws, rules and regulations and the highest standards of business ethics, and to full and accurate disclosure -- financial and otherwise -- in compliance with applicable law.&#160; This Code
      of Ethics, applicable to the Fund&#8217;s Chief Executive Officer, President, Chief Financial Officer and Treasurer (or persons performing similar functions) (together, &#8220;<u>Senior Officers</u>&#8221;),
      sets forth policies to guide you in the performance of your duties.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">As a Senior Officer, you must comply with applicable law.&#160; You also have a responsibility to conduct yourself in an honest and
      ethical manner.&#160; You have leadership responsibilities that include creating a culture of high ethical standards and a commitment to compliance, maintaining a work environment that encourages the internal reporting of compliance concerns and promptly
      addressing compliance concerns.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">This Code of Ethics recognizes that the Senior Officers are subject to certain conflicts of interest inherent in the operation of
      investment companies, because the Senior Officers currently or may in the future serve as Senior Officers of the Fund, as officers or employees of the Fund&#8217;s investment advisor (the &#8220;<u>Advisor</u>&#8221;)
      and investment manager (the &#8220;<u>Investment Manager</u>&#8221;) and as officers or trustees of other registered investment companies and unregistered investment funds advised by the
      Advisor or the Investment Manager.&#160; This Code of Ethics also recognizes that certain laws and regulations applicable to, and certain policies and procedures adopted by, the Fund or the Advisor govern your conduct in connection with many of the
      conflict of interest situations that arise in connection with the operations of the Fund, including:</div>
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              <div>&#8226;</div>
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              <div>the Investment Company Act of 1940, and the rules and regulation promulgated thereunder by the Securities and Exchange Commission (the &#8220;<u>1940 Act</u>&#8221;);</div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>the Investment Advisers Act of 1940, and the rules and regulations promulgated thereunder by the Securities and Exchange Commission (the &#8220;<u>Advisers Act</u>&#8221;);</div>
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    </div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>the Code of Ethics adopted by the Fund and the other Funds pursuant to Rule 17j-1(c) under the 1940 Act (collectively, the &#8220;<u>Fund&#8217;s 1940 Act Code of Ethics</u>&#8221;);</div>
            </td>
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      </table>
    </div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>one or more codes of ethics adopted by the Advisor and the Investment Manager that have been reviewed and approved by those trustees (the &#8220;<u>Trustees</u>&#8221;) of the Fund that are not &#8220;interested persons&#8221; of the Fund (the &#8220;<u>Independent Trustees</u>&#8221;) within the
                meaning of the 1940 Act (the &#8220;<u>Advisor&#8217;s 1940 Act Code of Ethics</u>&#8221; and, together with the Fund&#8217;s 1940 Act Code of Ethics, the &#8220;<u>1940 Act Codes of Ethics</u>&#8221;);</div>
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      </table>
    </div>
    <div style="margin-bottom: 12pt;"><br>
      <div><br>
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        <div>
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                  <div>&#8226;</div>
                </td>
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                  <div>the policies and procedures adopted by the Fund to address conflict of interest situations, such as procedures under Rule 10f-3 and Rule 17a-7 under the 1940
                    Act (collectively, the &#8220;<u>Fund Policies</u>&#8221;);</div>
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          </table>
        </div>
        <div>
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                  <div>&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div>the Advisor&#8217;s general policies and procedures to address, among other things, conflict of interest situations and related matters (collectively, the &#8220;<u>Advisor Policies</u>&#8221;); and</div>
                </td>
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          </table>
        </div>
        <div>
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                  <div>&#8226;</div>
                </td>
                <td style="width: auto; vertical-align: top;">
                  <div>the Investment Manager&#8217;s general policies and procedures to address, among other things, conflict of interest situations and related matters (collectively,
                    the &#8220;<u>Investment Manager Policies</u>&#8221;); and</div>
                </td>
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          </table>
        </div>
      </div>
      <div><br>
      </div>
      The provisions of the 1940 Act, the Advisers Act, the 1940 Act Codes of Ethics, the Fund Policies, Advisor Policies and the Investment Manager Policies are referred to herein collectively as the &#8220;<u>Additional Conflict Rules</u>.&#8221;</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">This Code of Ethics is different from, and is intended to supplement, the Additional Conflict Rules.&#160; Accordingly, a violation of
      the Additional Conflict Rules by a Senior Officer is hereby deemed not to be a violation of this Code of Ethics, unless and until the Board of Trustees of the Trust (the &#8220;<u>Board</u>&#8221;)
      shall determine that any such violation of the Additional Conflict Rules is also a violation of this Code of Ethics.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Senior Officers Should Act Honestly and Candidly</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">Each Senior Officer has a responsibility to the Fund to act with integrity.&#160; Integrity requires, among other things, being honest
      and candid.&#160; Deceit and subordination of principle are inconsistent with integrity.</div>
    <div style="margin-bottom: 12pt;">Each Senior Officer must:</div>
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              <div>&#8226;</div>
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              <div>act with integrity, including being honest and candid while still maintaining the confidentiality of information where required by law or the Additional Conflict
                Rules;</div>
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    </div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>comply with the laws, rules and regulations that govern the conduct of the Fund&#8217;s operations and report any suspected violations thereof in accordance with the
                section below entitled &#8220;Compliance With Code Of Ethics&#8221;; and</div>
            </td>
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      </table>
    </div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>adhere to a high standard of business ethics.</div>
            </td>
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      </table>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;"> Conflicts Of Interest</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">A conflict of interest for the purpose of this Code of Ethics occurs when your private interests interfere in any way, or even
      appear to interfere, with the interests of the Fund.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">Senior Officers are expected to use objective and unbiased standards when making decisions that affect the Fund, keeping in mind
      that Senior Officers are subject to certain inherent conflicts of interest because Senior Officers of a Fund also are or may be officers of other Funds, the Advisor and other funds advised or serviced by the Advisor, and the Investment Manager and
      other funds advised or serviced by the Investment Manager (as a result of which it is incumbent upon you to be familiar with and to seek to comply with the Additional Conflict Rules).</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">You are required to conduct the business of the Fund in an honest and ethical manner, including the ethical handling of actual or
      apparent conflicts of interest between personal </div>
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    <div style="margin-bottom: 12pt;">and business relationships.&#160; When making any investment, accepting any position or benefits, participating in any transaction or business
      arrangement or otherwise acting in a manner that creates or appears to create a conflict of interest with respect to the Fund where you are receiving a personal benefit, you should act in accordance with the letter and spirit of this Code of Ethics.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">If you are in doubt as to the application or interpretation of this Code of Ethics to you as a Senior Officer of the Fund, you
      should make full disclosure of all relevant facts and circumstances to the general counsel of the Investment Manager (the &#8220;<u>General Counsel</u>&#8221;) and obtain the approval of the
      General Counsel prior to taking action.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">Some conflict of interest situations that should always be approved by the General Counsel, if material, include the following:</div>
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              <div>&#8226;</div>
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              <div>the receipt of any entertainment or non-nominal gift by the Senior Officer, or a member of his or her family, from any company with which the Fund has current or
                prospective business dealings (other than the Advisor or the Investment Manager), unless such entertainment or gift is business related, reasonable in cost, appropriate as to time and place, and not so frequent as to raise any question of
                impropriety;</div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>any ownership interest in, or any consulting or employment relationship with, any of the Fund&#8217;s service providers, other than the Advisor or the Investment
                Manager; or</div>
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    </div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>a direct or indirect financial interest in commissions, transaction charges or spreads paid by the Fund for effecting portfolio transactions or for selling or
                redeeming shares other than an interest arising from the Senior Officer&#8217;s employment by the Advisor or the Investment Manager, such as compensation or equity ownership.</div>
            </td>
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      </table>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Disclosures</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">It is the policy of the Fund to make full, fair, accurate, timely and understandable disclosure in compliance with all applicable
      laws and regulations in all reports and documents that the Fund files with, or submits to, the Securities and Exchange Commission or a national securities exchange and in all
      other public communications made by the Fund.&#160; As a Senior Officer, you are required to promote compliance with this policy and to abide by the Fund&#8217;s standards, policies and procedures designed to promote compliance with this policy.</div>
    <div style="margin-bottom: 12pt;">Each Senior Officer must:</div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>familiarize himself or herself with the disclosure requirements applicable to the Fund as well as the business and financial operations of the Fund; and</div>
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      </table>
    </div>
    <div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>not knowingly misrepresent, or cause others to misrepresent, facts about the Fund to others, including to the Trustees, the Fund&#8217;s independent auditors, the
                Fund&#8217;s counsel, counsel to the Independent Trustees, governmental regulators or self-regulatory organizations.</div>
            </td>
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      </table>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Compliance With Code Of Ethics</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">If you know of or suspect a violation of this Code of Ethics or other laws, regulations, policies or procedures applicable to the
      Fund, you must report that information on a timely basis to the General Counsel or report it anonymously by following the &#8220;whistle blower&#8221; policies adopted by the Audit Committee of the Fund from time to time.&#160; <font style="font-style: italic;">No one will be subject to retaliation because of a good faith report of a suspected violation</font>.</div>
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    <div style="text-indent: 72pt; margin-bottom: 12pt;">The Fund will follow these procedures in investigating and enforcing this Code of Ethics, and in reporting on this Code of Ethics:</div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>the General Counsel will take all appropriate action to investigate any actual or potential violations reported to him or her;</div>
            </td>
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    </div>
    <div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>violations and potential violations will be reported to the Board after such investigation;</div>
            </td>
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    </div>
    <div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>if the Board determines that a violation has occurred, it will take all appropriate disciplinary or preventive action; and</div>
            </td>
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      </table>
    </div>
    <div>
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              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>appropriate disciplinary or preventive action may include a letter of censure, suspension, dismissal or, in the event of criminal or other serious violations of
                law, notification of the Securities and Exchange Commission or other appropriate law enforcement authorities.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Waivers Of Code Of Ethics</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">Except as otherwise provided in this Code of Ethics, the General Counsel is responsible for applying this Code of Ethics to specific
      situations in which questions are presented to the General Counsel and has the authority to interpret this Code of Ethics in any particular situation.&#160; The General Counsel shall take all action he or she considers appropriate to investigate any
      actual or potential violations reported under this Code of Ethics.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">The General Counsel is authorized to consult, as appropriate, with counsel to the Fund, the Advisor or the Independent Trustees, and
      is encouraged to do so.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">The Board is responsible for granting waivers of this Code of Ethics, as appropriate.&#160; Any changes to or waivers of this Code of
      Ethics will, to the extent required, be disclosed on Form N-CSR, or otherwise, as provided by Securities and Exchange Commission rules.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Recordkeeping</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">The Fund will maintain and preserve for a period of not less than six (6) years from the date an action is taken, the first two (2)
      years in an easily accessible place, a copy of the information or materials supplied to the Board:</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>that provided the basis for any amendment or waiver to this Code of Ethics; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#8226;</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>relating to any violation of this Code of Ethics and sanctions imposed for such violation, together with a written record of the approval or action taken by the
                Board.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;"> <br>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Confidentiality</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">All reports and records prepared or maintained pursuant to this Code of Ethics shall be considered confidential and shall be
      maintained and protected accordingly.&#160; Except as otherwise required by law or this Code of Ethics, such matters shall not be disclosed to anyone other than the Independent Trustees and their counsel, the Fund and its counsel, the Advisor and its
      counsel, the Investment Manager and its counsel, and any other advisors, consultants or counsel retained by the Trustees, the Independent Trustees or any committee of the Trustees.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="margin-bottom: 12pt; font-weight: bold;">Amendments</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">This Code of Ethics may not be amended except in written form, which is specifically approved by a majority vote of the Trustees,
      including a majority of the Independent Trustees.</div>
    <div style="margin-bottom: 12pt; font-weight: bold;">No Rights Created</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">This Code of Ethics is a statement of certain fundamental principles, policies and procedures that govern each of the Senior
      Officers in the conduct of the Fund&#8217;s business.&#160; It is not intended to and does not create any rights in any employee, investor, supplier, competitor, shareholder or any other person or entity.</div>
  </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>3
<FILENAME>ex99cert.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: FGS
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         Copyright 1995 - 2020 Broadridge -->
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  <div>
    <div style="text-align: right; margin-left: 360pt; margin-bottom: 12pt; font-weight: bold;">EXHIBIT (a) (2)</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">CERTIFICATION OF CHIEF EXECUTIVE OFFICER</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;"><u>CERTIFICATIONS</u></div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">I, Tracy V. Maitland, certify that:</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">1. I have reviewed this report on Form N-CSR of Advent Convertible and Income Fund;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
      under which such statements were made, not misleading with respect to the period covered by this report;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations,
      changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">4. The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
      1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the
      registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
      the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">c) Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
      as of a date within 90 days prior to the filing date of this report based on such evaluation; and</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">d) Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is
      reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">5. The registrant&#8217;s other certifying officer and I have disclosed to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent
      functions):</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s
      ability to record, process, summarize, and report financial information; and</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal controls over financial reporting.</div>
    <div style="margin-bottom: 12pt;"> Date: <u>January 2, 2020&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
        </u></div>
    <div style="margin-bottom: 12pt;">
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="z8aaf7501834640df800e6b46437ff4d9">

          <tr>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
            <td style="width: 33.33%;"><u>/s/ Tracy V. Maitland &#160; &#160; &#160; &#160;</u> </td>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
            <td style="width: 33.33%;">
              <div><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt">&#160;</font><br>
                Tracy V. Maitland</div>
            </td>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
            <td style="width: 33.33%;">President and Chief Executive Officer</td>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
      <br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after:always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;">CERTIFICATION OF CHIEF FINANCIAL OFFICER</div>
    <div style="text-align: center; margin-bottom: 12pt; font-weight: bold;"><u>CERTIFICATIONS</u></div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">I, Robert White, certify that:</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">1. I have reviewed this report on Form N-CSR of Advent Convertible and Income Fund;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
      under which such statements were made, not misleading with respect to the period covered by this report;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations,
      changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">4. The registrant&#8217;s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of
      1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the
      registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding
      the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">c) Evaluated the effectiveness of the registrant&#8217;s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures,
      as of a date within 90 days prior to the filing date of this report based on such evaluation; and</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">d) Disclosed in this report any change in the registrant&#8217;s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is
      reasonably likely to materially affect, the registrant&#8217;s internal control over financial reporting; and</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">5. The registrant&#8217;s other certifying officer and I have disclosed to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent
      functions):</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant&#8217;s
      ability to record, process, summarize, and report financial information; and</div>
    <div style="text-indent: 36pt; margin-bottom: 12pt;">b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal controls over financial reporting.
      <div style="margin-bottom: 12pt;"> <br>
        Date: <u>January 2, 2020&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
          </u></div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman'; font-size: 10pt; color: #000000; width: 100%;" id="z8aaf7501834640df800e6b46437ff4d9">

          <tr>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
            <td style="width: 33.33%;">
              <div><u>/s/ Robert White &#160; &#160; &#160; &#160; &#160; &#160; &#160;&#160;</u><font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt"> &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
                </font></div>
            </td>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
            <td style="width: 33.33%;">
              <div>Robert White<font id="TRGRRTFtoHTMLTab" style="display: inline-block; text-indent: 0px; font-size: 1px; width: 12pt"> <br>
                </font></div>
            </td>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
          </tr>
          <tr>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
            <td style="width: 33.33%;">Treasurer and Chief Financial Officer</td>
            <td style="width: 33.33%;">
              <div>&#160;</div>
            </td>
          </tr>

      </table>
    </div>
    <br>
  </div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>4
<FILENAME>ex99906cert.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
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  <head>
    <title></title>
    <!-- Licensed to: FGS
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         Copyright 1995 - 2020 Broadridge -->
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  <div>
    <div style="text-align: right; margin-bottom: 12pt; font-weight: bold;">EXHIBIT (b)</div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">Certification of CEO and CFO Pursuant to</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">18 U.S.C. Section 1350,</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">as Adopted Pursuant to</div>
    <div style="text-align: center; margin-bottom: 6pt; font-weight: bold;">Section 906 of the Sarbanes-Oxley Act of 2002</div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="margin-bottom: 12pt;">In connection with the Report on Form N-CSR of Advent Convertible and Income Fund (the &#8220;Company&#8221;) for the annual period ended October 31, 2019 (the &#8220;Report&#8221;), Tracy V. Maitland, as President and Chief Executive Officer
      of the Company, and Robert White, as Treasurer and Chief Financial Officer of the Company, each hereby certifies, pursuant to 18 U.S.C. &#167; 1350, as adopted pursuant to &#167; 906 of the Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:</div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z7f7fcf5c6fb74b2bbd5365e289098b97">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt;">(1)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z93cddecfd1274a589300e1cbb81a764a">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="margin-left: 36pt;">(2)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <div style="margin-bottom: 12pt;">Dated: <u>January 2, 2020&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
        </u></div>
    <div style="margin-bottom: 12pt;"><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 180pt" id="TRGRRTFtoHTMLTab">&#160; </font><br>
    </div>
    <div style="margin-bottom: 12pt;"><u>/s/ Tracy V. Maitland&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
      </u></div>
    <div style="margin-bottom: 12pt;">Name: Tracy V. Maitland</div>
    <div style="margin-bottom: 12pt;">Title:&#160;&#160; Chief Executive Officer</div>
    <div style="margin-bottom: 12pt;"><u>/s/ Robert White&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <br>
      </u></div>
    <div style="margin-bottom: 12pt;">Name: Robert White</div>
    <div style="margin-bottom: 12pt;">Title:&#160;&#160; Chief Financial Officer</div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
  </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.(C)
<SEQUENCE>5
<FILENAME>ex99c.htm
<DESCRIPTION>PROXY VOTING
<TEXT>
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    <title></title>
    <!-- Licensed to: FGS
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         Copyright 1995 - 2020 Broadridge -->
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  <div>
    <div style="text-align: right; margin-bottom: 12pt; font-weight: bold;">EXHIBIT (c)</div>
    <div style="text-indent: -36pt; margin-left: 36pt; margin-bottom: 12pt; font-weight: bold;">PROXY VOTING</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 81pt; vertical-align: top; align: right;">
              <div style="margin-left: 45pt; font-weight: bold;">A.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Voting Policy</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin: 12pt 0px; text-indent: 72pt;"> It is the policy of Advent that in every case where Advent is presented with the opportunity to exercise voting authority with respect to a Client&#8217;s Securities, Advent will vote all
      Securities held by the Client in the best interest of the Client unless under the facts and circumstances the Chief Compliance Officer determines that voting is not reasonably practicable (such as, but not limited to, where English-language
      translations of proxy materials are not available). <br>
    </div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">Advent believes the best interest of the Client means the Client&#8217;s best economic interests over the long-term &#8211; that is, the
      interest of the Client in seeing the value of its investment increase over time.&#160; Advent generally invests in a company only if Advent believes that the company&#8217;s management seeks to serve shareholders&#8217; best interests.&#160; As a result, Advent believes
      that management decisions and recommendations with respect to solicited issues generally are likely to be in the shareholders&#8217; and Clients&#8217; best interests.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">In the case of social issue proxy proposals, which often range from divestment from geographical or industrial representation to
      environmental or other matters, it is the policy of Advent that the merit of the social issues should not take precedence over financial ones.&#160; Advent will consider voting for issues that have redeeming social merit that neither compromises the
      company&#8217;s competitive position within an industry, nor adversely impacts the goal of maximizing shareholder value.</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 81pt; vertical-align: top; align: right;">
              <div style="margin-left: 45pt; font-weight: bold;">B.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Duty to Vote Proxies</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin: 12pt 0px; text-indent: 72pt;">Advent acknowledges that it is part of its fiduciary duty to its Clients to vote Client proxies, except in cases in which the cost of
      doing so, in the opinion of Advent, would exceed the expected benefits to the Client.&#160; This may be particularly true in the case of non-U.S. Securities.&#160; While the proxy voting process is well established in the United States and other developed
      markets with a number of tools and services available to assist an investment manager, voting proxies of non-US companies located in certain jurisdictions, particularly emerging markets, may involve a number of logistical problems that may have a
      detrimental effect on Advent&#8217;s ability to vote such proxies.&#160; The logistical problems include, but are not limited to:&#160; (1) proxy statements and ballots being written in a language other than English; (2) untimely and/or inadequate notice of
      shareholder meetings; (3) restrictions on the ability of holders outside the issuer&#8217;s jurisdiction of organization to exercise votes; (4) requirements to vote proxies in person; (5) the imposition of restrictions on the sale of the Securities for a
      period of time in proximity to the shareholder meeting; and (6) requirements to provide local agents with power of attorney to facilitate Advent&#8217;s voting instructions.&#160; Accordingly, Advent may conduct a cost-benefit analysis in determining whether to
      attempt to vote its Clients&#8217; shares at a non-US company&#8217;s meeting, whereby if it is determined that the cost associated with the attempt to exercise its vote outweighs the benefit Advent believes its Clients will derive by voting on the company&#8217;s
      proposal, Advent may decide not to attempt to vote at the meeting.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 81pt; vertical-align: top; align: right;">
              <div style="margin-left: 45pt; font-weight: bold;">C.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Voting Procedure</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin: 12pt 0px; text-indent: 72pt;">Advent does not take investment positions outside of the Clients it manages and therefore does not anticipate a situation where there
      would be a conflict between maximizing long-term investment returns for Clients and interests of Advent.&#160; If such a situation should arise involving a Public Security, the Compliance Committee will independently review and evaluate the proxy proposal
      and the circumstances surrounding the conflict to determine the vote, which will be in the best interest of the Client.&#160; The Compliance Committee may also determine whether the conflict of interest involving the Public Security will be disclosed to
      the Clients (and/or Investors) and whether to obtain consent prior to voting.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">The Investment Team will identify a staff member who is responsible for voting proxies, and in the absence of that person, the
      General Counsel or another individual designated by the Chief Administrative Officer will vote proxies.&#160; In deciding how to vote a proxy, these persons are permitted but not required to consult with appropriate members of the Investment Team.&#160; They
      may also consult with the Chief Financial Officer and such other Persons as they deem advisable.</div>
    <div style="text-indent: 72pt; margin-bottom: 12pt;">Although the proxy voting process is well established in the United States, voting the proxies of foreign companies may involve a
      number of logistical problems that have a detrimental effect on Advent&#8217;s ability to vote such proxies.&#160; The logistical problems include language barriers, untimely or inadequate notice of shareholder meetings, restrictions on a foreigner&#8217;s ability to
      exercise votes, and requirements to vote in person.&#160; Such proxies are voted on a best-efforts basis given the above logistical problems.</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 81pt; vertical-align: top; align: right;">
              <div style="margin-left: 45pt; font-weight: bold;">D.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Disclosure to Clients</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin: 12pt 0px; text-indent: 72pt;">Advent will disclose the Proxy Voting Procedures to its Clients.&#160; Advent&#8217;s disclosure will consist of a &#8220;concise summary&#8221; of its proxy
      voting policies and procedures.&#160; This disclosure will also tell Clients how to get a complete copy of Advent&#8217;s Proxy Voting Procedures.&#160; The proxy voting disclosure will be provided to existing Clients.&#160; Advent will provide any Client, upon written
      request, with a tabulation of how such Client&#8217;s proxies were voted by Advent.</div>
    <div>
      <table cellspacing="0" cellpadding="0" class="DSPFListTable" style="font-family: 'Times New Roman'; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 81pt; vertical-align: top; align: right;">
              <div style="margin-left: 45pt; font-weight: bold;">E.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-weight: bold;">Recordkeeping Requirements</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin: 12pt 0px; text-indent: 72pt;">Rule 204-2 under the Advisers Act, as amended, requires that Advent retain the following: (1) its proxy voting policies and procedures;
      (2) proxy statements received regarding client securities; (3) records of votes it cast on behalf of Clients; (4) records of Client requests for proxy voting information; and (5) any documents prepared by Advent that were material to making a
      decision how to vote, or that memorialized the basis for the decision.&#160; Advent will keep all <font style="font-style: italic;">written</font> requests from Clients and any <font style="font-style: italic;">written</font> response from Advent (to either a written or an oral request).&#160; Advent may rely on proxy statements filed on the SEC&#8217;s EDGAR system instead of keeping its own copies, and may
      rely on proxy statements and records of proxy votes cast by Advent that are maintained with a third party such as a proxy voting service, provided that Advent has obtained an undertaking from the third party to provide a copy of the documents
      promptly upon request.</div>
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<DOCUMENT>
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<DOCUMENT>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
