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 | -9.12% | -9.44% | 8.49% | 64.12% | 28.83% | 9.41% | $721 | 19.88 | 15.38 | 2067 | 17.42% | 78.46% | 67.91% | 0.69 |
| Sector Equity CEFs | 82 | -4.16% | -4.11% | 8.25% | 22.12% | 30.70% | 14.98% | $1484 | 18.68 | 14.85 | 11034 | 12.92% | 79.00% | 66.95% | 0.51 |
| Taxable Bond CEFs | 127 | -3.88% | -3.70% | 11.31% | 4.94% | 21.96% | 24.94% | $518 | 14.69 | 6.86 | 2781 | 11.66% | 57.65% | 64.96% | 0.52 |
| Debt Focused BDCs | 48 | -13.93% | -6.48% | 12.27% | -3.31% | 0.36% | 50.50% | $1712 | 27.16 | 4.64 | 11107 | 1.90% | N/A | 51.22% | 0.49 |
| Municipal (tax-free) CEFs | 92 | -4.20% | -5.89% | 6.08% | 41.70% | 20.95% | 34.01% | $517 | 10.30 | 7.43 | 1611 | 6.33% | 37.31% | 32.08% | 1.05 |
| All Listed CEFs/BDCs | 431 | -6.20% | -5.81% | 9.15% | 25.62% | 22.12% | 24.91% | $869 | 17.15 | 9.95 | 4883 | 10.87% | 54.53% | 56.92% | 0.63 |
| 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 | 0.17% | 0.29% | 3.53% | 3.26% | 5.83% | 5.45% | 11.86% | 10.84% | 23.97% | 20.80% | 16.69% | 14.97% | 9.00% | 7.94% | 11.75% | 10.34% | 3.17% | 3.24% | 3.17% | 3.24% |
| Sector Equity CEFs | 0.44% | 0.51% | 3.80% | 3.24% | 7.11% | 6.47% | 13.41% | 13.34% | 21.32% | 20.83% | 14.10% | 13.39% | 10.04% | 9.43% | 10.51% | 9.46% | 3.38% | 3.36% | 3.38% | 3.36% |
| Taxable Bond CEFs | 0.29% | 0.11% | 2.10% | 0.99% | 1.96% | 1.06% | 2.95% | 4.31% | 6.98% | 8.97% | 9.62% | 9.10% | 4.39% | 3.88% | 7.64% | 6.57% | 1.84% | 1.14% | 1.84% | 1.14% |
| Debt Focused BDCs | 0.05% | 0.18% | 3.52% | 0.98% | 4.19% | 2.67% | -5.95% | 4.62% | -6.75% | 6.77% | 6.60% | 8.59% | 7.75% | 8.54% | 8.89% | 7.42% | 2.07% | 0.21% | 2.07% | 0.21% |
| Municipal (tax-free) CEFs | -0.47% | -0.61% | 1.50% | 0.36% | 1.50% | -0.08% | 10.24% | 8.59% | 6.35% | 2.57% | 4.35% | 2.32% | -0.34% | -0.74% | 2.35% | 2.00% | 1.18% | 0.12% | 1.18% | 0.12% |
| All Listed CEFs/BDCs | 0.08% | 0.07% | 2.65% | 1.69% | 3.70% | 2.84% | 7.04% | 8.09% | 11.21% | 11.75% | 10.35% | 9.43% | 5.55% | 5.09% | 7.82% | 6.81% | 2.24% | 1.62% | 2.24% | 1.62% |
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