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 | -8.98% | -9.42% | 8.44% | 64.43% | 29.04% | 9.36% | $724 | 19.86 | 15.37 | 2156 | 14.54% | 80.51% | 68.15% | 0.70 |
| Sector Equity CEFs | 82 | -4.30% | -4.08% | 8.19% | 21.84% | 30.78% | 15.23% | $1482 | 18.93 | 15.00 | 13812 | 9.16% | 75.54% | 66.90% | 0.53 |
| Taxable Bond CEFs | 127 | -4.33% | -3.68% | 11.55% | 4.21% | 22.68% | 24.94% | $519 | 14.73 | 6.80 | 2739 | -0.94% | 50.43% | 64.94% | 0.55 |
| Debt Focused BDCs | 48 | -17.71% | -6.48% | 12.84% | -3.31% | 0.40% | 50.44% | $1713 | 27.37 | 4.68 | 11064 | -2.32% | N/A | 50.32% | 0.51 |
| Municipal (tax-free) CEFs | 92 | -3.98% | -5.89% | 6.02% | 41.76% | 20.99% | 34.18% | $522 | 10.29 | 7.42 | 1648 | -11.85% | 33.21% | 32.46% | 1.06 |
| All Listed CEFs/BDCs | 431 | -6.73% | -5.80% | 9.25% | 25.40% | 22.40% | 24.98% | $870 | 17.22 | 9.96 | 5418 | 1.18% | 51.54% | 56.92% | 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 | -0.36% | -0.67% | 3.23% | 2.61% | 7.10% | 6.67% | 13.62% | 13.00% | 25.30% | 22.29% | 16.04% | 14.47% | 9.11% | 8.05% | 11.80% | 10.50% | 4.38% | 4.26% | 4.38% | 4.26% |
| Sector Equity CEFs | -0.38% | -0.90% | 3.37% | 3.12% | 8.37% | 8.41% | 14.20% | 14.77% | 21.29% | 21.64% | 13.58% | 13.26% | 9.86% | 9.43% | 10.21% | 9.52% | 4.06% | 4.14% | 4.06% | 4.14% |
| Taxable Bond CEFs | -0.85% | -0.46% | 0.57% | 0.49% | 1.11% | 1.16% | 1.69% | 3.70% | 5.36% | 8.33% | 8.45% | 8.46% | 3.96% | 3.65% | 7.45% | 6.57% | 1.19% | 0.97% | 1.19% | 0.97% |
| Debt Focused BDCs | -2.27% | 0.04% | -4.00% | 0.29% | 0.53% | 2.82% | -6.19% | 4.82% | -11.38% | 7.09% | 4.33% | 8.67% | 6.48% | 8.78% | 8.49% | 7.45% | -2.10% | 0.29% | -2.10% | 0.29% |
| Municipal (tax-free) CEFs | 0.63% | 0.56% | 2.23% | 0.85% | 2.44% | 0.79% | 9.50% | 7.75% | 6.47% | 2.65% | 4.60% | 2.54% | -0.46% | -0.76% | 2.25% | 2.02% | 2.31% | 1.00% | 2.31% | 1.00% |
| All Listed CEFs/BDCs | -0.53% | -0.30% | 1.40% | 1.43% | 3.68% | 3.66% | 6.92% | 8.41% | 10.46% | 12.04% | 9.61% | 9.18% | 5.26% | 5.06% | 7.65% | 6.85% | 2.15% | 2.10% | 2.15% | 2.10% |
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