Active Investment Company Alliance
The Active Investment Company Alliance (“AICA”) is a trade association committed to educating and engaging investment professionals and investors about closed-end management companies: listed and non-listed closed-end funds, business development companies, interval funds and tender offer funds. The alliance supports transparency and, therefore, does not allow any agent, employee or representative to personally solicit any investment or accept any monies to be invested in a particular fund or security. Investments and solicitations for investment should be made directly with your financial advisor, broker or a trusted individual and not with this association. Please contact AICA  ( OR call (888-440-9694) if any person or organization solicits funds from you while representing that they are an agent, employee or representative of AICA. 

Disclaimer of warranty

This website provides data on investment companies that belong to our trade association, as well as companies that do not belong to our trade association. All of the funds’ data contained on this website is supplied by Closed-End Fund Advisors, Inc. (“CEFA”) / All rights reserved.  Any copying, republication or redistribution of CEFA content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of CEFA.  CEFA shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. CEFA is an independent firm that provides data to the investment industry. CEFA, its third-party data vendors, and AICA make no warranties whatsoever, either expressed or implied, as to merchantability, fitness for a particular purpose, non-infringement, or any other matter. and AICA further do not warrant the accuracy or completeness of the information, text, graphics, links, or other items contained within these materials. and AICA assume no responsibility and shall not be liable for errors or omissions in these materials. and AICA may make changes to these materials, or the products described therein, at any time without notice. AICA makes no warranties whatsoever, and does not sponsor or promote any of the business-development companies (BDCs) closed-end or other funds, financial advisors, or third-party organizations that might be viewed at our website, either directly on the site or through hyperlinks.

Past performance

Past performance is no guarantee of future results and values fluctuate. Fund historical performance does not promise the same results in the future. Principal value, NAV, share price, and investment returns fluctuate with changes in market conditions. Your investment may be worth more or less than your original cost when you sell your shares. 

Before you invest in any fund, request a copy of the fund’s most recent financial statements, proxy material and, if available, a prospectus. This material should contain information on a fund’s objectives and strategies, risks and expenses. Read it carefully to make sure that the fund is appropriate for your goals and risk tolerance before you invest.

Reliable sources

AICA believes the information contained on this site has come from reliable sources, but we cannot and do not guarantee its completeness or suitability for any purpose.