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 | -9.10% | -10.24% | 8.93% | 18.89% | 29.47% | 8.94% | $644 | 21.50 | 17.52 | 1739 | -16.11% | 91.06% | 66.77% | 0.74 |
| Sector Equity CEFs | 84 | -3.21% | -3.97% | 8.67% | 22.06% | 29.04% | 15.45% | $1041 | 19.19 | 16.39 | 9662 | -16.96% | 93.99% | 69.33% | 0.59 |
| Taxable Bond CEFs | 128 | -1.67% | -3.96% | 10.63% | 6.12% | 20.18% | 26.06% | $481 | 14.68 | 7.56 | 2267 | -13.22% | 75.90% | 65.17% | 0.65 |
| Debt Focused BDCs | 47 | -8.39% | -7.78% | 11.51% | 9.67% | 0.19% | 51.34% | $1572 | 25.87 | 5.62 | 10000 | -9.28% | N/A | 53.72% | 0.49 |
| Municipal (tax-free) CEFs | 105 | -6.66% | -5.40% | 6.36% | 11.75% | 17.92% | 33.05% | $450 | 10.88 | 8.12 | 1265 | -5.61% | 78.48% | 42.30% | 1.18 |
| All Listed CEFs/BDCs | 450 | -5.37% | -6.03% | 9.00% | 13.13% | 20.73% | 25.07% | $719 | 17.40 | 11.06 | 4109 | -11.87% | 77.91% | 59.31% | 0.74 |
| 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 | -0.42% | -0.22% | 2.32% | 1.85% | 5.53% | 4.68% | 8.94% | 6.25% | 16.93% | 10.63% | 12.32% | 11.27% | 11.16% | 9.76% | 7.03% | 6.25% | 6.98% | 6.63% | 9.44% | 6.51% |
| Sector Equity CEFs | -0.58% | -0.34% | 2.61% | 2.40% | 2.43% | 1.72% | 7.86% | 5.43% | 16.77% | 12.38% | 11.41% | 10.18% | 10.76% | 10.12% | 6.99% | 6.20% | 2.73% | 2.58% | 7.14% | 5.32% |
| Taxable Bond CEFs | -0.04% | 0.28% | 2.20% | 1.97% | 1.20% | 1.62% | 3.40% | 3.30% | 10.37% | 9.07% | 10.91% | 8.21% | 7.21% | 5.85% | 5.91% | 4.83% | 1.23% | 2.60% | 3.03% | 3.35% |
| Debt Focused BDCs | 0.65% | 0.84% | 1.43% | 1.50% | -4.63% | 0.84% | -1.89% | 2.78% | -0.49% | 7.34% | 10.07% | 6.51% | 14.67% | 10.13% | 6.36% | 6.48% | -4.11% | 2.16% | -3.39% | 2.62% |
| Municipal (tax-free) CEFs | -0.06% | 0.13% | 0.36% | 0.21% | -3.24% | -3.85% | -1.03% | -3.61% | -0.19% | -3.60% | 2.46% | 1.90% | -0.32% | -0.76% | 2.17% | 1.95% | -2.73% | -2.71% | -1.35% | -4.19% |
| All Listed CEFs/BDCs | -0.15% | 0.09% | 1.88% | 1.55% | 0.61% | 0.84% | 3.71% | 2.47% | 9.31% | 6.70% | 9.11% | 7.41% | 7.48% | 6.12% | 5.39% | 4.73% | 1.18% | 2.02% | 3.29% | 2.44% |
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June 6th, 2025 - Cafe 55 - 55 Water St, PECK SLIP, NY 10041
November 13th, 2024 - DownTown Association - 60 Pine Street, NY, NY 1005
November 15th, 2023 - DownTown Association - 60 Pine Street, NY, NY 1005