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 | -8.71% | -9.42% | 8.40% | 64.12% | 29.02% | 9.37% | $725 | 19.84 | 15.37 | 2139 | 16.02% | 80.18% | 68.32% | 0.73 |
| Sector Equity CEFs | 82 | -4.16% | -4.08% | 8.21% | 21.84% | 30.78% | 15.09% | $1432 | 18.89 | 14.98 | 12587 | 9.79% | 76.25% | 67.25% | 0.58 |
| Taxable Bond CEFs | 127 | -4.21% | -3.68% | 11.49% | 4.25% | 22.04% | 24.93% | $519 | 14.73 | 6.81 | 2720 | -0.86% | 50.80% | 65.13% | 0.50 |
| Debt Focused BDCs | 48 | -16.78% | -6.47% | 12.74% | -3.31% | 0.40% | 50.50% | $1712 | 27.28 | 4.64 | 10824 | -5.02% | N/A | 50.91% | 0.62 |
| Municipal (tax-free) CEFs | 92 | -3.96% | -5.89% | 6.03% | 42.46% | 20.99% | 34.15% | $521 | 10.31 | 7.43 | 1645 | -12.97% | 33.02% | 32.23% | 0.71 |
| All Listed CEFs/BDCs | 431 | -6.49% | -5.80% | 9.22% | 25.53% | 22.20% | 24.95% | $861 | 17.20 | 9.96 | 5149 | 1.05% | 51.34% | 57.09% | 0.58 |
| 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 | 0.38% | 0.07% | 3.98% | 3.40% | 6.21% | 5.69% | 14.53% | 13.31% | 25.79% | 22.20% | 16.16% | 14.47% | 9.33% | 8.26% | 11.82% | 10.48% | 4.58% | 4.17% | 4.58% | 4.17% |
| Sector Equity CEFs | -0.71% | -0.82% | 2.99% | 2.69% | 6.07% | 6.44% | 13.43% | 13.50% | 20.43% | 20.76% | 13.36% | 12.99% | 9.98% | 9.47% | 10.15% | 9.45% | 3.40% | 3.32% | 3.40% | 3.32% |
| Taxable Bond CEFs | -0.39% | -0.17% | 1.30% | 0.98% | 0.82% | 1.06% | 2.02% | 3.97% | 5.85% | 8.61% | 8.57% | 8.55% | 4.17% | 3.78% | 7.49% | 6.60% | 1.52% | 1.18% | 1.52% | 1.18% |
| Debt Focused BDCs | -1.84% | 0.03% | -1.97% | 0.27% | 0.35% | 2.66% | -4.97% | 4.65% | -11.26% | 6.87% | 4.56% | 8.61% | 7.26% | 8.73% | 8.56% | 7.42% | -1.40% | 0.27% | -1.40% | 0.27% |
| Municipal (tax-free) CEFs | 1.45% | 0.47% | 2.14% | 0.77% | 2.22% | 0.77% | 9.90% | 7.65% | 6.84% | 2.73% | 4.56% | 2.49% | -0.34% | -0.77% | 2.24% | 2.01% | 2.18% | 0.85% | 2.18% | 0.85% |
| All Listed CEFs/BDCs | -0.10% | -0.09% | 1.90% | 1.62% | 2.95% | 3.06% | 7.30% | 8.27% | 10.66% | 11.93% | 9.65% | 9.14% | 5.49% | 5.14% | 7.66% | 6.84% | 2.23% | 1.96% | 2.23% | 1.96% |
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