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 | -8.90% | -9.41% | 8.42% | 64.74% | 28.96% | 9.29% | $726 | 20.02 | 15.43 | 2202 | 9.87% | 81.97% | 68.01% | 0.70 |
| Sector Equity CEFs | 82 | -4.10% | -4.06% | 8.09% | 22.11% | 30.84% | 15.08% | $1449 | 19.16 | 15.11 | 13869 | 5.22% | 75.12% | 66.83% | 0.55 |
| Taxable Bond CEFs | 127 | -4.39% | -3.46% | 11.59% | 5.00% | 22.73% | 24.88% | $519 | 14.81 | 6.73 | 2793 | -1.95% | 46.34% | 64.78% | 0.59 |
| Debt Focused BDCs | 48 | -18.39% | -6.48% | 12.91% | -4.13% | 0.40% | 50.41% | $1712 | 27.70 | 4.71 | 11646 | 3.83% | N/A | 49.79% | 0.54 |
| Municipal (tax-free) CEFs | 85 | -3.14% | -5.75% | 5.97% | 42.82% | 21.36% | 33.59% | $568 | 10.23 | 7.31 | 1736 | -11.25% | 42.28% | 32.54% | 1.09 |
| All Listed CEFs/BDCs | 424 | -6.63% | -5.69% | 9.30% | 25.62% | 22.51% | 24.65% | $879 | 17.45 | 10.00 | 5599 | 0.26% | 52.70% | 57.21% | 0.67 |
| 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 | 0.34% | 0.27% | 2.34% | 2.23% | 8.37% | 7.41% | 12.15% | 12.15% | 25.07% | 21.86% | 16.68% | 15.13% | 8.85% | 7.82% | 12.18% | 10.69% | 5.43% | 5.26% | 5.43% | 5.26% |
| Sector Equity CEFs | 1.14% | 0.86% | 2.65% | 2.54% | 8.51% | 7.93% | 14.46% | 14.59% | 21.30% | 21.07% | 14.28% | 13.89% | 9.88% | 9.42% | 10.67% | 9.74% | 5.55% | 5.35% | 5.55% | 5.35% |
| Taxable Bond CEFs | 0.28% | 0.25% | 0.01% | 0.40% | 1.71% | 1.76% | 1.69% | 3.78% | 5.59% | 8.61% | 8.96% | 9.12% | 3.82% | 3.69% | 7.82% | 6.80% | 1.59% | 1.41% | 1.59% | 1.41% |
| Debt Focused BDCs | 0.51% | 0.00% | -4.82% | 0.27% | -0.47% | 2.55% | -7.41% | 4.38% | -13.25% | 6.83% | 4.04% | 8.59% | 6.16% | 8.71% | 8.70% | 7.41% | -2.89% | 0.31% | -2.89% | 0.31% |
| Municipal (tax-free) CEFs | 0.85% | 0.28% | 1.74% | 0.80% | 3.25% | 1.36% | 10.48% | 8.40% | 7.99% | 3.69% | 5.37% | 3.23% | -0.28% | -0.71% | 2.52% | 2.11% | 3.45% | 1.56% | 3.45% | 1.56% |
| All Listed CEFs/BDCs | 0.62% | 0.35% | 0.73% | 1.22% | 4.20% | 4.02% | 6.74% | 8.35% | 10.61% | 12.27% | 10.25% | 9.87% | 5.28% | 5.14% | 8.11% | 7.11% | 2.91% | 2.79% | 2.91% | 2.79% |
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