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 | -9.10% | -9.47% | 8.72% | 63.61% | 29.02% | 9.15% | $706 | 20.13 | 15.44 | 1858 | 6.25% | 75.88% | 68.62% | 0.69 |
| Sector Equity CEFs | 82 | -4.13% | -4.14% | 8.41% | 21.50% | 31.02% | 14.87% | $1357 | 19.01 | 14.87 | 11467 | 6.48% | 78.07% | 69.31% | 0.51 |
| Taxable Bond CEFs | 127 | -4.97% | -3.73% | 11.43% | 4.34% | 21.98% | 24.67% | $516 | 14.88 | 6.91 | 2834 | 11.69% | 62.46% | 66.03% | 0.51 |
| Debt Focused BDCs | 48 | -15.71% | -6.47% | 12.65% | -1.15% | 0.36% | 50.49% | $1712 | 26.78 | 4.61 | 11613 | 9.77% | N/A | 52.37% | 0.51 |
| Municipal (tax-free) CEFs | 94 | -5.10% | -5.83% | 6.10% | 33.02% | 20.35% | 33.22% | $508 | 10.32 | 7.41 | 1540 | 27.21% | 39.13% | 38.87% | 1.04 |
| All Listed CEFs/BDCs | 433 | -6.89% | -5.82% | 9.29% | 23.48% | 22.08% | 24.64% | $838 | 17.26 | 9.96 | 4968 | 13.07% | 55.75% | 59.37% | 0.63 |
| 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 | -0.05% | -0.45% | 2.08% | 1.39% | 2.73% | 2.57% | 9.48% | 8.86% | 24.53% | 20.55% | 17.86% | 15.86% | 9.29% | 8.10% | 10.27% | 9.10% | 2.73% | 2.57% | 24.53% | 20.55% |
| Sector Equity CEFs | -0.32% | -0.68% | 1.17% | 0.85% | 3.13% | 3.71% | 9.91% | 11.03% | 22.22% | 20.45% | 14.97% | 13.79% | 9.80% | 9.23% | 9.15% | 8.37% | 3.13% | 3.71% | 22.22% | 20.45% |
| Taxable Bond CEFs | 0.01% | 0.18% | -0.15% | 0.84% | -1.24% | 1.04% | 0.65% | 4.31% | 6.58% | 9.32% | 11.51% | 10.22% | 4.36% | 3.95% | 6.89% | 6.18% | -1.24% | 1.04% | 6.58% | 9.32% |
| Debt Focused BDCs | 1.39% | 0.75% | 0.47% | 1.92% | 0.76% | 2.66% | -4.67% | 4.64% | -6.77% | 6.74% | 7.78% | 8.55% | 8.61% | 8.52% | 7.63% | 7.41% | 0.76% | 2.66% | -6.77% | 6.74% |
| Municipal (tax-free) CEFs | 0.54% | 0.21% | 0.62% | 0.08% | 1.40% | 1.71% | 6.51% | 5.90% | 7.07% | 2.12% | 5.85% | 3.97% | -0.46% | -0.58% | 2.34% | 2.11% | 1.40% | 1.71% | 7.07% | 2.12% |
| All Listed CEFs/BDCs | 0.17% | -0.03% | 0.65% | 0.90% | 1.01% | 2.16% | 4.68% | 6.72% | 11.60% | 11.59% | 11.75% | 10.33% | 5.56% | 5.10% | 6.91% | 6.24% | 1.01% | 2.16% | 11.60% | 11.59% |
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