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 | -8.89% | -9.41% | 8.39% | 64.52% | 28.94% | 9.29% | $726 | 20.00 | 15.42 | 2198 | 10.94% | 81.93% | 68.01% | 0.70 |
| Sector Equity CEFs | 82 | -4.09% | -4.06% | 8.09% | 22.11% | 30.88% | 15.08% | $1449 | 19.14 | 15.10 | 13749 | 5.43% | 74.74% | 66.83% | 0.56 |
| Taxable Bond CEFs | 127 | -4.41% | -3.46% | 11.60% | 5.00% | 22.69% | 24.88% | $519 | 14.81 | 6.73 | 2798 | -1.91% | 46.28% | 64.78% | 0.61 |
| Debt Focused BDCs | 48 | -18.39% | -6.48% | 12.91% | -4.07% | 0.40% | 50.39% | $1712 | 27.71 | 4.71 | 11552 | 3.17% | N/A | 49.79% | 0.54 |
| Municipal (tax-free) CEFs | 85 | -3.14% | -5.75% | 5.97% | 42.82% | 21.54% | 33.59% | $568 | 10.25 | 7.31 | 1728 | -11.42% | 41.36% | 32.54% | 1.09 |
| All Listed CEFs/BDCs | 424 | -6.63% | -5.69% | 9.29% | 25.59% | 22.54% | 24.64% | $879 | 17.45 | 9.99 | 5565 | 0.39% | 52.39% | 57.21% | 0.68 |
| 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 | 1.86% | 1.85% | 2.26% | 2.25% | 7.27% | 6.19% | 12.37% | 12.15% | 25.62% | 22.84% | 16.65% | 15.14% | 8.85% | 7.81% | 12.32% | 10.85% | 5.42% | 5.26% | 5.42% | 5.26% |
| Sector Equity CEFs | 2.48% | 2.35% | 2.91% | 3.02% | 7.25% | 6.72% | 14.37% | 14.52% | 21.87% | 21.97% | 14.20% | 13.80% | 9.86% | 9.40% | 10.80% | 9.88% | 5.46% | 5.25% | 5.46% | 5.25% |
| Taxable Bond CEFs | 0.66% | 0.60% | 0.03% | 0.41% | 1.06% | 1.24% | 1.62% | 3.78% | 5.84% | 8.97% | 8.90% | 9.07% | 3.81% | 3.69% | 7.82% | 6.82% | 1.54% | 1.39% | 1.54% | 1.39% |
| Debt Focused BDCs | 1.39% | 0.02% | -3.51% | 0.27% | -1.17% | 2.55% | -7.93% | 4.49% | -12.70% | 6.83% | 4.06% | 8.58% | 6.16% | 8.71% | 8.92% | 7.41% | -2.89% | 0.31% | -2.89% | 0.31% |
| Municipal (tax-free) CEFs | 0.87% | 0.33% | 1.90% | 0.88% | 3.15% | 1.31% | 10.49% | 8.36% | 8.39% | 4.09% | 5.19% | 3.17% | -0.28% | -0.71% | 2.45% | 2.09% | 3.45% | 1.55% | 3.45% | 1.55% |
| All Listed CEFs/BDCs | 1.41% | 1.05% | 0.95% | 1.33% | 3.47% | 3.39% | 6.69% | 8.34% | 11.06% | 12.81% | 10.18% | 9.83% | 5.27% | 5.13% | 8.16% | 7.17% | 2.88% | 2.76% | 2.88% | 2.76% |
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