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 | -11.74% | -9.90% | 8.14% | 13.89% | 29.26% | 9.24% | $632 | 16.71 | 18.72 | 1356 | 10.28% | 80.20% | 67.17% | 0.78 |
| Sector Equity CEFs | 92 | -5.19% | -4.69% | 8.23% | 29.64% | 28.03% | 16.32% | $869 | 16.43 | 17.14 | 2504 | 8.97% | 79.79% | 67.53% | 0.71 |
| Taxable Bond CEFs | 133 | -1.85% | -4.67% | 10.20% | 7.07% | 19.71% | 25.29% | $458 | 13.41 | 8.01 | 1694 | 10.62% | 54.32% | 65.80% | 0.60 |
| Debt Focused BDCs | 47 | -0.96% | -6.02% | 10.34% | 20.09% | 0.82% | 50.44% | $1466 | 22.94 | 5.89 | 7150 | -9.36% | N/A | 42.83% | 0.62 |
| Municipal (tax-free) CEFs | 108 | -8.59% | -5.33% | 5.67% | 1.02% | 9.25% | 30.91% | $496 | 11.45 | 6.81 | 1087 | -3.40% | 76.09% | 66.81% | 0.93 |
| All Listed CEFs/BDCs | 466 | -6.02% | -6.09% | 8.36% | 12.60% | 18.51% | 24.54% | $677 | 15.24 | 11.25 | 2190 | 4.67% | 63.25% | 63.98% | 0.70 |
| 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 | -1.32% | -1.74% | 1.30% | 0.29% | 6.34% | 4.26% | 10.01% | 7.89% | 12.20% | 10.11% | -0.72% | 0.32% | 6.47% | 6.50% | 5.80% | 5.54% | 0.59% | 0.28% | 10.24% | 7.46% |
| Sector Equity CEFs | -0.43% | -1.27% | 2.99% | 1.43% | 7.90% | 5.42% | 13.39% | 9.94% | 15.71% | 12.82% | 4.50% | 4.88% | 5.24% | 5.50% | 4.73% | 4.33% | 1.69% | 1.43% | 14.15% | 9.72% |
| Taxable Bond CEFs | -0.08% | -0.15% | 2.03% | 1.01% | 5.88% | 3.52% | 7.69% | 4.84% | 15.27% | 10.73% | 0.12% | 0.47% | 3.82% | 3.18% | 4.50% | 3.89% | 1.70% | 1.17% | 9.19% | 4.87% |
| Debt Focused BDCs | -0.46% | 0.03% | 1.03% | 0.81% | 1.91% | 2.79% | 5.11% | 4.85% | 14.32% | 9.97% | 7.68% | 7.36% | 8.31% | 6.49% | 7.24% | 7.00% | 0.32% | 0.14% | 7.56% | 4.94% |
| Municipal (tax-free) CEFs | 0.08% | -0.10% | 1.31% | 0.54% | 5.92% | 3.27% | 6.94% | 3.47% | 8.07% | 4.68% | -5.68% | -3.45% | -0.38% | 0.37% | 2.77% | 2.89% | 0.68% | 0.85% | 6.76% | 1.72% |
| All Listed CEFs/BDCs | -0.36% | -0.62% | 1.82% | 0.83% | 5.99% | 3.87% | 8.93% | 6.01% | 13.14% | 9.51% | 0.07% | 1.00% | 3.94% | 3.81% | 4.51% | 4.24% | 1.14% | 0.88% | 9.73% | 5.51% |
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