Advent Convertible & Income FundAVK

The Advent Convertible & Income Fund (AVK) quietly rewired its back-office plumbing on 18 December 2025, terminating its administration and accounting agreement with MUFG Investor Services (US) LLC and shifting to a new foreign custody manager under the Custody Agreement. The change is disclosed in a routine SEC 8-K filing, with no accompanying investor letter, no press release, and no update on the fund’s Mutual Fund Resource Center-a web portal that still looks like a relic of the mid-2000s, complete with a ‘Manage your email preferences’ link that feels like an afterthought.

AVK’s subscription plumbing also got an upgrade in September 2024 when Equiniti Trust Company, LLC stepped in as subscription agent, replacing MUFG under a 10.1 Subscription Agent Agreement dated 10 September 2024. The filing is meticulous, the customer experience is undocumented, and the fund’s own web presence remains a static PDF with no clear navigation to key investor materials.

The contrast is sharper when you step outside AVK’s corner of the Guggenheim empire. On 15 June 2026, Guggenheim launched two new actively managed fixed-income ETFs, GISC and GCSH, designed to offer ‘differentiated sources of income’ built on ‘rigorous credit research’ and ‘sector expertise.’ The press release carries a New York dateline and a banner claim of more than $362 billion in total assets across Guggenheim’s platform. Yet AVK’s own filings contain no revenue line, no net income, no dividend policy, no guidance, and no expense ratio-only the mechanical shift of service providers and the dry language of legal agreements.

The fund’s Solutions for Insurers page boasts fixed-income solutions ‘built to optimize book yield, capital efficiency, and balance sheet resilience across market cycles,’ citing eVestment rankings based on net performance retrieved on 21 April 2026. The claim is sourced, the fund’s own metrics are not. AVK’s story is told in filings, not in dashboards.

The fund’s Mutual Fund Resource Center promises account, transaction, and service information, but the portal still greets visitors with a TurboTax-style tax-forms graphic and a generic ‘Import tax forms into TurboTax’ image-a visual cue that feels like a decade-old hand-me-down rather than a modern investor experience. The fund’s operational upgrades are real; its customer-facing narrative remains stuck in the past.

For now, AVK’s market mechanism is the SEC filing itself. There is The source-change rail is filing/source-led and does not use chart-derived signals. Chart context is available separately on this page through the Atlas chart snapshot or TradingView route where available. The fund’s identity is defined by what it does not show as much as by what it does.

If AVK were to add a simple year-to-date total return, a current expense ratio, or a live holdings page, the gap between the fund’s legal prose and its customer reality would narrow overnight. Until then, AVK remains a fund whose public story is written in footnotes, not headlines.