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 | 81 | -9.12% | -9.31% | 8.23% | 35.42% | 26.52% | 8.77% | $808 | 17.46 | 15.89 | 3405 | -5.54% | 88.18% | 60.64% | 0.72 |
| Sector Equity CEFs | 80 | -5.47% | -3.94% | 8.26% | 25.31% | 28.73% | 15.32% | $1483 | 16.42 | 14.80 | 8679 | -8.29% | 86.91% | 58.09% | 0.54 |
| Taxable Bond CEFs | 127 | -6.70% | -3.48% | 11.16% | 0.56% | 22.26% | 25.69% | $507 | 13.40 | 6.89 | 2309 | -8.59% | 69.31% | 59.02% | 0.60 |
| Debt Focused BDCs | 48 | -23.60% | -6.60% | 13.42% | -15.55% | 0.80% | 52.16% | $1644 | 28.30 | 6.30 | 13927 | -13.99% | N/A | 37.83% | 0.60 |
| Municipal (tax-free) CEFs | 76 | -3.05% | -5.76% | 6.17% | 44.83% | 21.72% | 32.48% | $616 | 9.81 | 7.10 | 1631 | -0.44% | 72.20% | 47.66% | 1.20 |
| All Listed CEFs/BDCs | 415 | -8.28% | -5.67% | 9.33% | 18.47% | 21.59% | 24.69% | $903 | 16.07 | 10.34 | 4965 | -7.12% | 66.91% | 54.20% | 0.69 |
| 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 | 0.46% | 0.88% | 3.25% | 2.44% | 3.67% | 4.67% | 15.68% | 16.21% | 30.02% | 29.49% | 20.36% | 18.01% | 7.92% | 7.86% | 11.06% | 10.20% | 11.32% | 10.86% | 9.68% | 11.22% |
| Sector Equity CEFs | 0.82% | 0.92% | 0.79% | 1.49% | 0.94% | 2.15% | 12.45% | 12.66% | 25.16% | 27.01% | 18.21% | 16.91% | 8.35% | 8.77% | 9.18% | 8.81% | 5.53% | 5.50% | 7.40% | 8.99% |
| Taxable Bond CEFs | 0.11% | 0.15% | -0.31% | 0.54% | -1.95% | -0.33% | 0.80% | 1.77% | 4.96% | 8.76% | 10.24% | 9.57% | 2.59% | 3.52% | 6.10% | 5.92% | 3.28% | 3.36% | -0.99% | 1.07% |
| Debt Focused BDCs | -1.38% | 0.15% | -4.78% | 0.51% | -4.08% | -0.53% | -7.38% | -0.83% | -12.22% | 2.69% | 2.07% | 6.08% | 1.19% | 6.74% | 6.46% | 6.98% | 1.57% | 0.75% | -9.68% | 0.00% |
| Municipal (tax-free) CEFs | -0.62% | -0.23% | -0.85% | -1.58% | -1.39% | -1.62% | 3.16% | 0.23% | 10.67% | 7.37% | 6.94% | 3.84% | -0.94% | -0.97% | 1.83% | 1.69% | 1.39% | 0.55% | 2.29% | 0.22% |
| All Listed CEFs/BDCs | 0.03% | 0.37% | -0.01% | 0.70% | -0.31% | 1.09% | 5.41% | 6.13% | 13.07% | 15.40% | 12.39% | 11.17% | 3.90% | 4.80% | 6.87% | 6.55% | 4.69% | 4.38% | 2.39% | 4.50% |
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