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 | -9.72% | -9.63% | 8.57% | 60.88% | 29.34% | 9.45% | $711 | 20.48 | 15.59 | 1796 | 4.70% | 76.45% | 69.47% | 0.70 |
| Sector Equity CEFs | 81 | -4.13% | -3.73% | 8.29% | 21.15% | 30.90% | 15.00% | $1282 | 18.54 | 15.14 | 12052 | 0.69% | 73.56% | 69.94% | 0.53 |
| Taxable Bond CEFs | 127 | -4.59% | -3.79% | 11.20% | 4.57% | 22.02% | 24.46% | $520 | 15.02 | 6.98 | 2698 | -2.74% | 67.51% | 65.78% | 0.54 |
| Debt Focused BDCs | 48 | -13.26% | -6.44% | 12.27% | -0.36% | 0.37% | 50.50% | $1712 | 26.66 | 5.14 | 11897 | -5.86% | N/A | 51.85% | 0.54 |
| Municipal (tax-free) CEFs | 94 | -4.88% | -5.84% | 6.10% | 31.05% | 20.04% | 33.18% | $509 | 10.67 | 7.45 | 1399 | 0.76% | 63.76% | 40.16% | 1.03 |
| All Listed CEFs/BDCs | 432 | -6.49% | -5.77% | 9.13% | 22.67% | 22.04% | 24.67% | $825 | 17.33 | 10.11 | 5013 | -0.51% | 63.90% | 59.78% | 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 | 0.79% | 0.69% | -0.31% | 0.34% | 3.49% | 5.18% | 11.87% | 12.00% | 18.10% | 15.16% | 14.97% | 13.96% | 9.34% | 8.33% | 9.92% | 8.77% | 0.86% | 1.63% | 21.99% | 19.26% |
| Sector Equity CEFs | 0.45% | 0.24% | 1.59% | 2.30% | 5.25% | 6.71% | 12.14% | 13.31% | 14.72% | 14.60% | 12.77% | 12.52% | 9.85% | 9.41% | 8.99% | 8.29% | 1.75% | 2.90% | 20.14% | 19.22% |
| Taxable Bond CEFs | 0.21% | 0.23% | -0.05% | 0.38% | -0.91% | 2.41% | 4.38% | 6.22% | 4.75% | 8.27% | 10.16% | 9.65% | 4.77% | 4.30% | 6.87% | 5.91% | -0.96% | 1.10% | 6.88% | 9.30% |
| Debt Focused BDCs | 1.36% | 0.30% | 3.10% | 0.65% | -4.80% | 2.02% | -1.50% | 3.31% | -5.31% | 6.61% | 6.57% | 7.68% | 8.43% | 8.89% | 7.17% | 6.98% | 1.66% | 0.89% | -5.92% | 4.85% |
| Municipal (tax-free) CEFs | 0.35% | -0.46% | 0.24% | -0.25% | 6.53% | 6.41% | 8.31% | 6.58% | 1.85% | -0.99% | 4.90% | 3.44% | -0.18% | -0.44% | 2.63% | 2.20% | 1.30% | 1.41% | 6.97% | 1.82% |
| All Listed CEFs/BDCs | 0.52% | 0.17% | 0.62% | 0.63% | 2.20% | 4.48% | 7.55% | 8.34% | 7.65% | 8.43% | 10.07% | 9.35% | 5.84% | 5.34% | 6.84% | 6.06% | 0.64% | 1.58% | 11.01% | 10.83% |
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