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 | -10.17% | -9.33% | 8.34% | 68.80% | 27.96% | 8.85% | $738 | 17.24 | 15.78 | 2406 | -2.99% | 89.18% | 64.21% | 0.75 |
| Sector Equity CEFs | 80 | -5.04% | -3.95% | 8.20% | 24.40% | 29.14% | 15.45% | $1505 | 16.50 | 14.81 | 14092 | -2.16% | 89.98% | 59.08% | 0.54 |
| Taxable Bond CEFs | 127 | -5.79% | -3.47% | 11.06% | 1.31% | 22.74% | 25.72% | $514 | 13.36 | 6.84 | 2551 | -4.32% | 85.25% | 60.60% | 0.50 |
| Debt Focused BDCs | 49 | -20.56% | -6.66% | 12.51% | -12.54% | 0.78% | 51.15% | $1660 | 27.87 | 5.54 | 15197 | -2.12% | N/A | 35.12% | 0.59 |
| Municipal (tax-free) CEFs | 79 | -3.11% | -5.79% | 6.06% | 48.01% | 22.08% | 32.48% | $606 | 9.81 | 7.12 | 1654 | 5.72% | 74.19% | 51.04% | 1.13 |
| All Listed CEFs/BDCs | 418 | -7.66% | -5.69% | 9.17% | 25.30% | 22.11% | 24.75% | $895 | 15.98 | 10.10 | 6037 | -1.25% | 74.50% | 55.77% | 0.65 |
| 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 | 2.98% | 3.08% | 5.97% | 6.57% | 3.74% | 4.82% | 10.82% | 11.57% | 38.59% | 36.97% | 18.53% | 16.61% | 7.67% | 7.51% | 10.75% | 9.75% | 7.79% | 8.32% | 7.17% | 8.49% |
| Sector Equity CEFs | 1.92% | 1.56% | 3.69% | 3.95% | 3.99% | 4.83% | 10.55% | 11.04% | 31.21% | 31.01% | 16.70% | 15.70% | 8.88% | 9.04% | 9.22% | 8.77% | 5.28% | 4.69% | 7.08% | 8.03% |
| Taxable Bond CEFs | 1.72% | 1.20% | 3.25% | 2.00% | -1.95% | -0.21% | 0.29% | 1.10% | 9.85% | 11.26% | 9.79% | 9.28% | 3.04% | 3.61% | 6.33% | 6.02% | 3.86% | 2.87% | -0.32% | 0.93% |
| Debt Focused BDCs | 6.77% | 0.14% | 8.17% | 0.96% | -6.51% | 2.57% | -0.48% | 2.07% | -4.12% | 5.46% | 4.61% | 6.97% | 2.71% | 7.20% | 7.18% | 7.20% | 8.86% | 0.19% | -3.84% | 2.65% |
| Municipal (tax-free) CEFs | 0.58% | 0.40% | 0.71% | 0.68% | 1.65% | 0.97% | 4.58% | 1.81% | 14.01% | 8.54% | 6.77% | 3.58% | -0.35% | -0.57% | 2.02% | 1.93% | 2.72% | 2.11% | 3.48% | 1.75% |
| All Listed CEFs/BDCs | 2.39% | 1.35% | 3.96% | 2.86% | 0.52% | 2.26% | 4.99% | 5.22% | 18.99% | 18.61% | 11.77% | 10.52% | 4.33% | 4.90% | 6.94% | 6.51% | 5.21% | 3.78% | 2.92% | 4.08% |
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