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 | -9.81% | -9.62% | 8.55% | 62.06% | 29.14% | 9.48% | $717 | 20.34 | 15.55 | 1822 | 4.13% | 76.40% | 69.23% | 0.70 |
| Sector Equity CEFs | 81 | -4.70% | -3.72% | 8.35% | 21.15% | 30.99% | 14.87% | $1304 | 18.50 | 15.11 | 12160 | 1.14% | 76.64% | 69.32% | 0.54 |
| Taxable Bond CEFs | 127 | -4.90% | -3.77% | 11.34% | 4.48% | 22.10% | 24.43% | $516 | 15.01 | 6.98 | 2658 | 0.69% | 66.23% | 66.08% | 0.60 |
| Debt Focused BDCs | 48 | -12.86% | -6.45% | 12.25% | -0.36% | 0.37% | 50.50% | $1712 | 26.77 | 5.13 | 12153 | -6.80% | N/A | 52.85% | 0.51 |
| Municipal (tax-free) CEFs | 94 | -4.65% | -5.83% | 6.08% | 31.05% | 20.02% | 33.14% | $510 | 10.62 | 7.44 | 1394 | 6.71% | 36.78% | 38.72% | 1.06 |
| All Listed CEFs/BDCs | 432 | -6.60% | -5.77% | 9.17% | 22.80% | 22.04% | 24.63% | $829 | 17.29 | 10.10 | 5054 | 1.73% | 57.65% | 59.52% | 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 | 0.81% | 0.88% | 0.88% | 1.16% | 3.00% | 4.36% | 11.64% | 11.51% | 19.00% | 16.36% | 16.15% | 15.09% | 9.56% | 8.60% | 10.62% | 9.34% | 1.84% | 2.68% | 23.31% | 20.58% |
| Sector Equity CEFs | -0.12% | 0.32% | 0.69% | 1.31% | 3.94% | 5.96% | 10.35% | 12.09% | 15.75% | 15.99% | 13.74% | 13.32% | 9.83% | 9.57% | 9.61% | 8.78% | 1.68% | 3.41% | 20.32% | 20.01% |
| Taxable Bond CEFs | -0.64% | 0.12% | -0.73% | 0.13% | -2.20% | 1.30% | 2.82% | 5.64% | 4.08% | 7.85% | 10.52% | 9.78% | 4.61% | 4.21% | 7.37% | 6.17% | -1.48% | 0.93% | 6.41% | 9.17% |
| Debt Focused BDCs | 0.02% | 0.07% | 3.36% | 0.73% | -3.85% | 1.94% | -2.94% | 3.32% | -5.22% | 6.27% | 7.39% | 7.67% | 8.90% | 8.88% | 8.22% | 6.94% | 1.95% | 0.96% | -5.49% | 4.93% |
| Municipal (tax-free) CEFs | 0.08% | 0.03% | 0.01% | -0.50% | 2.98% | 2.43% | 8.12% | 6.12% | 2.44% | -0.52% | 5.44% | 3.31% | -0.21% | -0.53% | 2.71% | 2.13% | 1.63% | 1.50% | 7.33% | 1.91% |
| All Listed CEFs/BDCs | -0.04% | 0.27% | 0.46% | 0.47% | 0.84% | 2.98% | 6.50% | 7.74% | 7.90% | 8.86% | 10.80% | 9.72% | 5.84% | 5.37% | 7.35% | 6.32% | 0.78% | 1.84% | 11.28% | 11.21% |
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