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 | -10.10% | -9.33% | 8.35% | 68.80% | 27.92% | 8.85% | $738 | 17.23 | 15.80 | 2393 | -4.26% | 89.05% | 64.21% | 0.74 |
| Sector Equity CEFs | 80 | -5.03% | -3.94% | 8.21% | 24.40% | 29.14% | 15.48% | $1499 | 16.49 | 14.82 | 13758 | -2.79% | 89.84% | 59.08% | 0.56 |
| Taxable Bond CEFs | 127 | -5.66% | -3.46% | 11.06% | 1.31% | 22.71% | 25.79% | $511 | 13.35 | 6.85 | 2548 | -5.21% | 85.09% | 60.60% | 0.49 |
| Debt Focused BDCs | 49 | -20.92% | -6.66% | 12.61% | -12.54% | 0.78% | 51.15% | $1660 | 27.86 | 5.54 | 15112 | -6.94% | N/A | 35.12% | 0.65 |
| Municipal (tax-free) CEFs | 79 | -3.15% | -5.80% | 6.06% | 48.01% | 22.09% | 32.49% | $607 | 9.80 | 7.13 | 1648 | 7.97% | 73.98% | 51.04% | 0.76 |
| All Listed CEFs/BDCs | 418 | -7.67% | -5.69% | 9.18% | 25.30% | 22.10% | 24.79% | $893 | 15.97 | 10.11 | 5958 | -2.06% | 74.35% | 55.77% | 0.58 |
| 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 | 2.17% | 2.38% | 8.89% | 8.86% | 3.78% | 4.65% | 10.04% | 10.49% | 38.61% | 36.85% | 18.92% | 16.82% | 7.72% | 7.57% | 10.78% | 9.78% | 7.75% | 8.19% | 7.17% | 8.37% |
| Sector Equity CEFs | 1.31% | 1.14% | 6.93% | 6.28% | 3.90% | 4.52% | 9.60% | 9.94% | 30.94% | 30.79% | 16.94% | 15.72% | 8.83% | 8.95% | 9.19% | 8.75% | 5.10% | 4.52% | 6.92% | 7.86% |
| Taxable Bond CEFs | 1.42% | 0.99% | 5.04% | 2.73% | -1.88% | -0.31% | 0.51% | 0.80% | 9.98% | 11.21% | 10.02% | 9.34% | 3.06% | 3.65% | 6.28% | 5.98% | 3.95% | 2.85% | -0.23% | 0.88% |
| Debt Focused BDCs | 4.91% | 0.14% | 10.44% | 0.85% | -5.94% | 2.43% | -1.48% | 2.07% | -4.63% | 5.46% | 4.42% | 6.95% | 2.63% | 7.21% | 7.02% | 7.19% | 8.22% | 0.19% | -4.30% | 2.65% |
| Municipal (tax-free) CEFs | 0.48% | 0.36% | 2.51% | 2.22% | 1.70% | 0.93% | 4.10% | 1.75% | 14.02% | 8.60% | 6.81% | 3.69% | -0.33% | -0.57% | 2.02% | 1.97% | 2.73% | 2.16% | 3.49% | 1.80% |
| All Listed CEFs/BDCs | 1.77% | 1.06% | 6.30% | 4.25% | 0.60% | 2.12% | 4.51% | 4.70% | 18.92% | 18.54% | 11.94% | 10.60% | 4.34% | 4.90% | 6.91% | 6.51% | 5.12% | 3.73% | 2.86% | 4.02% |
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