The Active Investment Company Alliance (AICA) will be the premier 501(c)(6) non-profit trade association for listed closed-end funds, business development companies, interval and tender offer funds.
Membership will be broad-based globally across fund sponsors (member firm who manages a closed-ended management company, BDC or equivalent), or product sponsors (member firm who manages an investment product: open-end, UIT, ETF, CEF, SMA, LP where the underlying investments are focused on closed-ended management companies, BDC or equivalent).
Average CEF Universe Data
| #Funds | Current Disc/Prm | 10 Yr Avg Disc/Prm | Market Yield | 3 Yr Div Growth | 3 Yr RoC % | Leverage | Net Assets (MM) | 1 Yr Price St. Dev | 3 Yr NAV St. Dev | 90 Day $ Liquidity (M) | 90 Day Volume Trend | 90 Day Price/Nav Corr | Corr to 12 Sectors Index | Beta to S&P 500 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| US / Global Equity CEFs | 79 | -9.19% | -9.41% | 8.33% | 64.43% | 29.03% | 9.35% | $734 | 20.00 | 15.42 | 2211 | 13.51% | 81.60% | 67.74% | 0.75 |
| Sector Equity CEFs | 82 | -4.19% | -4.07% | 8.06% | 21.84% | 31.06% | 15.23% | $1475 | 19.09 | 15.08 | 14228 | 6.90% | 74.09% | 66.65% | 0.61 |
| Taxable Bond CEFs | 127 | -4.48% | -3.46% | 11.59% | 4.21% | 22.70% | 24.96% | $521 | 14.79 | 6.74 | 2797 | -1.27% | 48.77% | 64.58% | 0.60 |
| Debt Focused BDCs | 48 | -17.56% | -6.47% | 12.80% | -3.85% | 0.40% | 50.39% | $1711 | 27.67 | 4.71 | 11652 | 2.07% | N/A | 49.47% | 0.71 |
| Municipal (tax-free) CEFs | 92 | -3.59% | -5.89% | 5.98% | 42.70% | 21.02% | 34.18% | $552 | 10.31 | 7.42 | 1669 | -12.18% | 38.37% | 32.33% | 0.88 |
| All Listed CEFs/BDCs | 431 | -6.67% | -5.73% | 9.21% | 25.57% | 22.46% | 24.98% | $878 | 17.33 | 9.97 | 5595 | 0.88% | 52.12% | 56.58% | 0.65 |
| 1 Week(%) | 1 Month(%) | 3 Month(%) | 6 Month(%) | 1 Year(%) | 3 Year(%) | 5 Year(%) | 10 Year(%) | QTD(%) | YTD(%) | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | Price | NAV | |
| US / Global Equity CEFs | 1.27% | 1.27% | 3.40% | 3.31% | 8.22% | 7.31% | 12.98% | 13.22% | 26.29% | 23.47% | 17.03% | 15.67% | 9.01% | 8.07% | 12.37% | 10.93% | 5.84% | 6.00% | 5.84% | 6.00% |
| Sector Equity CEFs | 1.68% | 1.39% | 3.89% | 3.84% | 8.59% | 7.93% | 15.10% | 15.44% | 22.27% | 22.07% | 14.55% | 14.10% | 9.97% | 9.55% | 10.83% | 9.93% | 5.63% | 5.53% | 5.63% | 5.53% |
| Taxable Bond CEFs | 0.28% | 0.32% | 0.32% | 0.68% | 1.28% | 1.38% | 1.79% | 4.04% | 5.70% | 8.69% | 8.93% | 9.16% | 3.82% | 3.72% | 7.82% | 6.83% | 1.57% | 1.49% | 1.57% | 1.49% |
| Debt Focused BDCs | 1.11% | 0.04% | -3.33% | 0.27% | 0.84% | 2.63% | -6.90% | 4.49% | -11.40% | 6.85% | 4.61% | 8.59% | 6.39% | 8.71% | 9.01% | 7.41% | -2.03% | 0.31% | -2.03% | 0.31% |
| Municipal (tax-free) CEFs | 0.75% | 0.54% | 1.96% | 0.71% | 3.41% | 1.32% | 10.26% | 8.12% | 6.69% | 2.60% | 5.03% | 3.03% | -0.52% | -0.77% | 2.34% | 2.04% | 3.17% | 1.44% | 3.17% | 1.44% |
| All Listed CEFs/BDCs | 0.93% | 0.71% | 1.50% | 1.72% | 4.23% | 3.85% | 7.12% | 8.74% | 10.97% | 12.40% | 10.26% | 9.87% | 5.20% | 5.10% | 8.06% | 7.09% | 3.04% | 2.93% | 3.04% | 2.93% |
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