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 | -8.94% | -9.42% | 8.51% | 64.43% | 29.09% | 9.36% | $718 | 19.93 | 15.38 | 2143 | 13.49% | 80.59% | 68.15% | 0.70 |
| Sector Equity CEFs | 82 | -4.21% | -4.08% | 8.23% | 21.84% | 30.99% | 15.23% | $1408 | 19.03 | 15.04 | 12976 | 7.14% | 74.74% | 66.90% | 0.55 |
| Taxable Bond CEFs | 127 | -4.51% | -3.68% | 11.58% | 4.21% | 22.69% | 24.94% | $518 | 14.77 | 6.80 | 2746 | -2.05% | 49.85% | 64.94% | 0.57 |
| Debt Focused BDCs | 48 | -19.48% | -6.48% | 13.09% | -3.85% | 0.40% | 50.55% | $1713 | 27.54 | 4.69 | 10923 | -0.12% | N/A | 50.32% | 0.54 |
| Municipal (tax-free) CEFs | 92 | -3.98% | -5.89% | 6.01% | 41.76% | 20.94% | 34.18% | $523 | 10.31 | 7.42 | 1657 | -11.24% | 35.33% | 32.46% | 1.10 |
| All Listed CEFs/BDCs | 431 | -6.97% | -5.79% | 9.31% | 25.35% | 22.43% | 25.00% | $855 | 17.28 | 9.97 | 5245 | 0.63% | 51.92% | 56.92% | 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 | -0.88% | -0.63% | 1.94% | 1.57% | 6.56% | 5.87% | 11.17% | 11.24% | 23.63% | 20.25% | 15.92% | 14.31% | 8.96% | 7.86% | 12.13% | 10.64% | 3.50% | 3.35% | 3.50% | 3.35% |
| Sector Equity CEFs | -0.55% | -0.67% | 2.24% | 2.07% | 7.05% | 6.84% | 12.32% | 12.85% | 18.97% | 18.88% | 13.23% | 12.87% | 9.63% | 9.18% | 10.63% | 9.74% | 3.05% | 3.02% | 3.05% | 3.02% |
| Taxable Bond CEFs | -0.86% | -0.15% | 0.22% | 0.24% | 0.94% | 1.07% | 1.48% | 3.66% | 4.73% | 7.94% | 8.47% | 8.69% | 3.91% | 3.70% | 7.65% | 6.72% | 0.94% | 0.92% | 0.94% | 0.92% |
| Debt Focused BDCs | -4.16% | 0.02% | -3.29% | 0.27% | -0.87% | 2.87% | -8.79% | 4.80% | -13.15% | 7.09% | 3.47% | 8.69% | 5.97% | 8.77% | 8.70% | 7.45% | -4.18% | 0.29% | -4.18% | 0.29% |
| Municipal (tax-free) CEFs | 0.37% | 0.46% | 1.75% | 0.57% | 2.83% | 1.11% | 9.80% | 7.91% | 5.91% | 2.17% | 4.71% | 2.83% | -0.42% | -0.72% | 2.24% | 2.02% | 2.51% | 1.20% | 2.51% | 1.20% |
| All Listed CEFs/BDCs | -0.95% | -0.19% | 0.81% | 0.90% | 3.18% | 3.27% | 5.82% | 7.76% | 9.18% | 10.92% | 9.46% | 9.21% | 5.12% | 5.00% | 7.87% | 6.97% | 1.51% | 1.75% | 1.51% | 1.75% |
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