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 | -8.99% | -9.42% | 8.39% | 64.43% | 29.03% | 9.35% | $730 | 19.99 | 15.41 | 2182 | 12.87% | 80.78% | 68.15% | 0.73 |
| Sector Equity CEFs | 82 | -4.34% | -4.08% | 8.14% | 21.84% | 30.99% | 15.23% | $1453 | 19.05 | 15.07 | 13454 | 6.67% | 74.70% | 66.90% | 0.54 |
| Taxable Bond CEFs | 127 | -5.08% | -3.47% | 11.53% | 4.21% | 22.69% | 24.94% | $522 | 14.76 | 10.71 | 2756 | -2.17% | 49.30% | 64.94% | 0.47 |
| Debt Focused BDCs | 48 | -18.79% | -6.48% | 12.98% | -3.85% | 0.40% | 50.55% | $1713 | 27.53 | 4.68 | 11176 | 0.37% | N/A | 50.32% | 0.48 |
| Municipal (tax-free) CEFs | 92 | -4.00% | -5.89% | 6.01% | 41.76% | 20.94% | 34.18% | $523 | 10.30 | 7.42 | 1656 | -11.22% | 35.98% | 32.46% | 1.08 |
| All Listed CEFs/BDCs | 431 | -7.09% | -5.74% | 9.24% | 25.35% | 22.42% | 24.99% | $867 | 17.29 | 11.12 | 5374 | 0.46% | 51.95% | 56.92% | 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 | 0.56% | 0.88% | 3.42% | 3.11% | 8.09% | 7.50% | 12.75% | 12.97% | 25.36% | 22.14% | 16.44% | 14.87% | 9.24% | 8.18% | 12.27% | 10.80% | 5.01% | 4.94% | 5.01% | 4.94% |
| Sector Equity CEFs | 0.66% | 0.64% | 3.50% | 3.43% | 8.41% | 8.36% | 13.79% | 14.53% | 20.57% | 20.70% | 13.70% | 13.39% | 9.90% | 9.47% | 10.76% | 9.89% | 4.33% | 4.41% | 4.33% | 4.41% |
| Taxable Bond CEFs | -0.52% | 7.20% | 0.56% | 7.60% | 1.28% | 8.48% | 1.82% | 11.29% | 5.08% | 14.73% | 8.59% | 9.63% | 3.98% | 4.22% | 7.68% | 7.00% | 1.28% | 8.28% | 1.28% | 8.28% |
| Debt Focused BDCs | -3.34% | 0.04% | -2.46% | 0.29% | -0.01% | 2.89% | -8.00% | 4.82% | -12.44% | 7.11% | 3.74% | 8.69% | 6.15% | 8.77% | 8.79% | 7.45% | -3.35% | 0.31% | -3.35% | 0.31% |
| Municipal (tax-free) CEFs | 0.40% | 0.51% | 1.79% | 0.61% | 2.87% | 1.16% | 9.84% | 7.96% | 5.94% | 2.22% | 4.72% | 2.85% | -0.41% | -0.71% | 2.24% | 2.03% | 2.55% | 1.25% | 2.55% | 1.25% |
| All Listed CEFs/BDCs | -0.24% | 2.52% | 1.54% | 3.63% | 3.94% | 6.05% | 6.60% | 10.66% | 10.01% | 13.62% | 9.72% | 9.69% | 5.27% | 5.27% | 7.94% | 7.11% | 2.25% | 4.49% | 2.25% | 4.49% |
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