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 | 80 | -9.41% | -9.32% | 8.30% | 68.82% | 27.22% | 8.95% | $744 | 17.15 | 15.78 | 2452 | -6.44% | 89.20% | 62.27% | 0.73 |
| Sector Equity CEFs | 80 | -4.72% | -3.94% | 8.13% | 24.92% | 28.55% | 15.48% | $1478 | 16.34 | 14.83 | 11323 | -7.30% | 89.16% | 58.35% | 0.55 |
| Taxable Bond CEFs | 127 | -5.46% | -3.47% | 11.09% | 1.33% | 22.85% | 25.90% | $509 | 13.25 | 6.83 | 2499 | -10.12% | 83.21% | 59.18% | 0.62 |
| Debt Focused BDCs | 48 | -19.99% | -6.56% | 12.76% | -11.22% | 0.82% | 51.14% | $1688 | 27.63 | 5.66 | 15641 | -14.59% | N/A | 37.40% | 0.63 |
| Municipal (tax-free) CEFs | 79 | -3.44% | -5.80% | 6.10% | 48.27% | 22.22% | 32.43% | $604 | 9.72 | 7.11 | 1613 | 2.92% | 74.34% | 49.15% | 1.22 |
| All Listed CEFs/BDCs | 417 | -7.26% | -5.67% | 9.18% | 25.62% | 21.98% | 24.76% | $891 | 15.83 | 10.14 | 5520 | -6.78% | 73.57% | 54.79% | 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 | 1.49% | 0.75% | 8.94% | 8.60% | 3.02% | 3.52% | 10.16% | 10.49% | 34.25% | 32.18% | 19.20% | 16.93% | 7.73% | 7.55% | 10.82% | 9.83% | 8.94% | 8.60% | 8.13% | 8.86% |
| Sector Equity CEFs | 1.56% | 1.04% | 6.08% | 5.13% | 3.46% | 3.48% | 10.90% | 11.74% | 28.22% | 28.48% | 17.27% | 16.05% | 8.78% | 9.00% | 9.23% | 8.75% | 6.08% | 5.13% | 8.02% | 8.67% |
| Taxable Bond CEFs | 0.96% | 0.02% | 3.97% | 2.68% | -2.28% | -0.92% | -0.42% | 0.41% | 6.51% | 9.43% | 9.90% | 9.25% | 2.85% | 3.45% | 6.19% | 5.89% | 3.97% | 2.68% | -0.26% | 0.54% |
| Debt Focused BDCs | 2.88% | 0.06% | 7.83% | 0.27% | -3.92% | 1.96% | -2.28% | 1.67% | -5.37% | 5.08% | 4.56% | 6.92% | 2.60% | 7.20% | 7.19% | 7.23% | 7.83% | 0.27% | -4.21% | 2.22% |
| Municipal (tax-free) CEFs | -0.10% | -0.30% | 2.12% | 1.85% | 1.18% | 1.01% | 3.47% | 1.45% | 10.92% | 7.07% | 6.64% | 3.46% | -0.48% | -0.61% | 1.95% | 1.90% | 2.12% | 1.85% | 2.88% | 1.49% |
| All Listed CEFs/BDCs | 1.17% | 0.30% | 5.35% | 3.83% | 0.38% | 1.48% | 4.25% | 4.74% | 15.82% | 16.30% | 12.02% | 10.59% | 4.22% | 4.81% | 6.90% | 6.47% | 5.35% | 3.83% | 3.13% | 4.06% |
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