Cream together the butter and cream cheese in the bowl of an electric mixer. Blend in the vanilla. Mix in the flour. Chill the dough.
To make the filling: Mix together the chopped raisins, chopped walnuts and cinnamon. (If you have a food processor, place the whole walnuts and raisins into the bowl, sprinkle with the cinnamon and chop them together by processing in short pulses.)
Divide the dough into 4 equal portions. Roll out each portion into a 25 to 30cm circle just under .25cm thick on a lightly floured board or between two sheets of greaseproof paper.
Spread a light layer of apricot preserves (approximately 2 tablespoons) onto each dough circle. Sprinkle each circle with approximately 4 tablespoons of the chopped nut mixture.
Cut each circle into 16 wedges using a pastry cutter or a pizza cutter. Roll each wedge from base to point. Place point down on a lightly greased or baking parchment lined baking tray.
Bake for 15 to 17 minutes at 190 C until golden. Remove to racks to cool.