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 | 82 | -11.34% | -9.95% | 7.94% | 13.44% | 30.51% | 8.93% | $659 | 17.09 | 18.71 | 1518 | 2.59% | 85.23% | 63.73% | 0.77 |
| Sector Equity CEFs | 89 | -3.90% | -4.48% | 7.88% | 28.59% | 30.18% | 15.74% | $965 | 16.44 | 16.95 | 3187 | 1.63% | 87.03% | 64.92% | 0.67 |
| Taxable Bond CEFs | 132 | 0.28% | -4.38% | 9.93% | 6.93% | 19.57% | 24.78% | $459 | 12.88 | 8.07 | 2047 | 4.11% | 67.01% | 63.96% | 0.53 |
| Debt Focused BDCs | 48 | -4.42% | -5.89% | 11.02% | 21.18% | 0.56% | 50.29% | $1516 | 22.43 | 5.90 | 7271 | 2.86% | N/A | 40.21% | 0.61 |
| Municipal (tax-free) CEFs | 108 | -5.67% | -5.34% | 5.58% | 4.97% | 11.28% | 30.39% | $497 | 10.56 | 6.94 | 1285 | 6.11% | 65.18% | 64.03% | 0.90 |
| All Listed CEFs/BDCs | 463 | -4.74% | -5.98% | 8.23% | 13.34% | 19.40% | 24.20% | $707 | 14.93 | 11.24 | 2520 | 4.03% | 66.23% | 61.32% | 0.66 |
| 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 | 0.47% | 0.94% | 4.04% | 3.88% | 4.64% | 3.53% | 14.93% | 11.41% | 29.73% | 25.58% | 1.20% | 1.99% | 8.00% | 7.93% | 7.46% | 6.88% | 0.16% | 0.65% | 17.93% | 14.16% |
| Sector Equity CEFs | 1.14% | 1.17% | 2.83% | 2.09% | 8.57% | 6.14% | 20.94% | 14.96% | 36.68% | 28.83% | 6.06% | 6.13% | 7.32% | 7.22% | 6.45% | 5.89% | 0.57% | 0.83% | 24.99% | 18.03% |
| Taxable Bond CEFs | 0.04% | 0.17% | 1.27% | 0.58% | 5.33% | 3.46% | 13.69% | 7.49% | 26.56% | 17.13% | 1.56% | 1.35% | 4.87% | 3.98% | 5.55% | 4.52% | -0.17% | -0.30% | 15.50% | 8.66% |
| Debt Focused BDCs | 0.62% | 0.02% | 0.32% | 1.56% | -2.42% | 2.87% | 4.09% | 4.51% | 15.20% | 8.65% | 6.40% | 6.73% | 7.30% | 6.39% | 7.81% | 6.93% | 0.16% | 0.13% | 7.01% | 6.60% |
| Municipal (tax-free) CEFs | -0.27% | -0.57% | -0.70% | -0.66% | 3.81% | 1.36% | 11.57% | 4.29% | 26.02% | 14.89% | -3.97% | -2.37% | 0.17% | 0.29% | 2.98% | 2.56% | -0.88% | -0.96% | 11.77% | 3.13% |
| All Listed CEFs/BDCs | 0.40% | 0.31% | 1.59% | 1.26% | 4.72% | 3.41% | 13.90% | 8.56% | 27.93% | 19.48% | 1.43% | 2.00% | 4.98% | 4.61% | 5.56% | 4.88% | 0.01% | -0.02% | 16.25% | 9.92% |
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