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 | -9.11% | -9.38% | 8.55% | 66.38% | 28.81% | 9.27% | $718 | 20.05 | 15.48 | 2256 | 0.74% | 77.93% | 67.73% | 0.75 |
| Sector Equity CEFs | 82 | -4.13% | -4.02% | 8.10% | 22.94% | 30.54% | 14.99% | $1492 | 19.20 | 15.13 | 15829 | -3.87% | 76.32% | 66.16% | 0.61 |
| Taxable Bond CEFs | 127 | -5.93% | -3.45% | 11.85% | 3.33% | 22.64% | 25.11% | $512 | 15.00 | 6.73 | 2650 | -4.15% | 55.48% | 64.56% | 0.60 |
| Debt Focused BDCs | 49 | -22.78% | -6.48% | 13.49% | -8.48% | 0.72% | 50.92% | $1662 | 28.94 | 5.46 | 12322 | 20.24% | N/A | 48.94% | 0.73 |
| Municipal (tax-free) CEFs | 79 | -2.57% | -5.77% | 5.97% | 45.02% | 20.99% | 32.84% | $610 | 10.13 | 7.15 | 1810 | -11.41% | 67.56% | 33.05% | 0.87 |
| All Listed CEFs/BDCs | 419 | -7.62% | -5.68% | 9.52% | 25.17% | 22.32% | 24.55% | $893 | 17.75 | 10.09 | 6112 | -1.91% | 61.84% | 57.30% | 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 | -2.12% | -2.12% | -0.12% | 0.32% | 6.57% | 5.88% | 10.33% | 11.03% | 26.81% | 24.09% | 16.91% | 15.29% | 8.96% | 8.33% | 11.12% | 9.89% | 4.35% | 4.40% | 4.35% | 4.40% |
| Sector Equity CEFs | -0.59% | -0.96% | 2.95% | 2.66% | 7.89% | 7.53% | 13.95% | 14.82% | 24.84% | 24.53% | 15.62% | 14.98% | 10.54% | 10.30% | 9.85% | 9.21% | 6.78% | 6.61% | 6.78% | 6.61% |
| Taxable Bond CEFs | -1.08% | -0.72% | -2.79% | -0.33% | -1.13% | 0.83% | -1.87% | 2.45% | 3.03% | 7.37% | 8.64% | 9.11% | 3.65% | 3.80% | 6.82% | 6.35% | -0.95% | 0.59% | -0.95% | 0.59% |
| Debt Focused BDCs | -1.23% | 0.13% | -7.75% | 0.37% | -7.77% | 0.62% | -13.56% | 2.64% | -19.24% | 4.80% | 1.07% | 7.37% | 4.21% | 8.32% | 7.16% | 7.24% | -8.12% | 0.65% | -8.12% | 0.65% |
| Municipal (tax-free) CEFs | 0.14% | -0.66% | 1.70% | 0.78% | 4.42% | 1.66% | 10.69% | 8.37% | 6.46% | 2.18% | 7.11% | 4.39% | 0.51% | -0.15% | 2.45% | 2.19% | 3.84% | 1.55% | 3.84% | 1.55% |
| All Listed CEFs/BDCs | -0.95% | -0.91% | -0.87% | 0.67% | 2.26% | 3.23% | 4.41% | 7.56% | 9.89% | 12.58% | 10.56% | 10.31% | 5.43% | 5.59% | 7.38% | 6.80% | 1.64% | 2.67% | 1.64% | 2.67% |
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