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 | -9.31% | -9.46% | 8.49% | 65.53% | 29.02% | 9.34% | $723 | 20.04 | 15.38 | 1966 | 13.31% | 76.80% | 68.37% | 0.73 |
| Sector Equity CEFs | 82 | -4.12% | -4.13% | 8.30% | 22.12% | 31.01% | 14.97% | $1407 | 18.85 | 14.83 | 9982 | 12.04% | 77.93% | 67.96% | 0.54 |
| Taxable Bond CEFs | 127 | -4.51% | -3.72% | 11.31% | 5.22% | 21.98% | 24.78% | $519 | 14.74 | 6.87 | 2888 | 11.08% | 57.96% | 65.18% | 0.48 |
| Debt Focused BDCs | 48 | -14.63% | -6.49% | 12.42% | -1.64% | 0.36% | 50.49% | $1712 | 27.00 | 4.61 | 11298 | 14.78% | N/A | 52.11% | 0.48 |
| Municipal (tax-free) CEFs | 94 | -4.67% | -5.83% | 6.00% | 41.20% | 20.35% | 33.28% | $512 | 10.28 | 7.37 | 1566 | 18.79% | 38.64% | 32.77% | 1.09 |
| All Listed CEFs/BDCs | 433 | -6.58% | -5.82% | 9.15% | 26.06% | 22.07% | 24.73% | $852 | 17.18 | 9.92 | 4693 | 14.04% | 54.28% | 57.42% | 0.64 |
| 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 | 1.74% | 1.82% | 3.31% | 2.81% | 4.47% | 4.75% | 12.18% | 11.65% | 26.39% | 22.99% | 17.10% | 15.54% | 9.13% | 7.98% | 11.25% | 10.04% | 2.32% | 2.58% | 2.32% | 2.58% |
| Sector Equity CEFs | 1.28% | 1.03% | 3.22% | 2.45% | 4.32% | 4.89% | 11.91% | 12.69% | 22.64% | 21.56% | 14.14% | 13.48% | 9.96% | 9.22% | 9.98% | 9.12% | 1.68% | 1.64% | 1.68% | 1.64% |
| Taxable Bond CEFs | 1.01% | 0.62% | 1.18% | 1.33% | -0.28% | 1.65% | 2.04% | 5.21% | 7.37% | 10.04% | 10.43% | 9.70% | 4.51% | 4.02% | 7.20% | 6.40% | 1.24% | 0.81% | 1.24% | 0.81% |
| Debt Focused BDCs | 0.73% | 0.04% | -0.79% | 1.73% | 6.50% | 2.66% | -6.02% | 4.64% | -4.95% | 6.76% | 7.05% | 8.57% | 8.37% | 8.52% | 8.43% | 7.42% | 1.32% | 0.04% | 1.32% | 0.04% |
| Municipal (tax-free) CEFs | 1.14% | 0.63% | 0.94% | 1.04% | 2.45% | 1.97% | 8.50% | 7.16% | 7.52% | 3.49% | 5.43% | 3.29% | -0.13% | -0.48% | 2.34% | 2.08% | 1.18% | 0.71% | 1.18% | 0.71% |
| All Listed CEFs/BDCs | 1.18% | 0.85% | 1.56% | 1.80% | 2.69% | 3.02% | 6.21% | 8.07% | 12.56% | 12.76% | 10.94% | 9.91% | 5.68% | 5.12% | 7.42% | 6.63% | 1.50% | 1.18% | 1.50% | 1.18% |
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