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 | -9.09% | -9.44% | 8.45% | 64.12% | 28.90% | 9.41% | $723 | 19.90 | 15.38 | 2088 | 17.11% | 78.85% | 68.21% | 0.73 |
| Sector Equity CEFs | 82 | -4.15% | -4.10% | 8.23% | 22.12% | 30.70% | 15.01% | $1533 | 18.69 | 14.86 | 11931 | 10.84% | 78.88% | 67.27% | 0.54 |
| Taxable Bond CEFs | 127 | -3.86% | -3.70% | 11.31% | 4.94% | 22.03% | 24.94% | $518 | 14.69 | 6.86 | 2785 | 7.52% | 56.19% | 65.12% | 0.47 |
| Debt Focused BDCs | 48 | -14.40% | -6.48% | 12.32% | -3.31% | 0.36% | 50.50% | $1712 | 27.13 | 4.64 | 11024 | -2.67% | N/A | 51.20% | 0.47 |
| Municipal (tax-free) CEFs | 92 | -4.73% | -5.89% | 6.11% | 41.99% | 20.98% | 34.01% | $519 | 10.29 | 7.43 | 1618 | -0.20% | 36.60% | 32.28% | 1.09 |
| All Listed CEFs/BDCs | 431 | -6.36% | -5.81% | 9.16% | 25.69% | 22.15% | 24.92% | $879 | 17.15 | 9.95 | 5051 | 7.00% | 54.00% | 57.12% | 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 | 0.61% | 0.32% | 3.75% | 3.34% | 6.46% | 5.89% | 12.50% | 11.46% | 24.21% | 21.19% | 16.56% | 14.94% | 9.13% | 8.05% | 11.80% | 10.40% | 3.81% | 3.83% | 3.81% | 3.83% |
| Sector Equity CEFs | 1.33% | 1.00% | 3.91% | 3.53% | 7.91% | 7.38% | 14.76% | 14.91% | 23.12% | 22.65% | 14.22% | 13.54% | 10.22% | 9.61% | 10.50% | 9.54% | 4.30% | 4.28% | 4.30% | 4.28% |
| Taxable Bond CEFs | 0.33% | 0.13% | 2.00% | 1.06% | 1.96% | 1.36% | 3.10% | 4.46% | 7.01% | 9.20% | 9.51% | 9.08% | 4.43% | 3.92% | 7.59% | 6.59% | 2.05% | 1.32% | 2.05% | 1.32% |
| Debt Focused BDCs | -0.56% | 0.03% | 2.99% | 0.96% | 3.29% | 2.69% | -5.91% | 4.65% | -7.43% | 6.80% | 6.38% | 8.62% | 7.64% | 8.54% | 8.85% | 7.43% | 1.60% | 0.24% | 1.60% | 0.24% |
| Municipal (tax-free) CEFs | -0.91% | -0.50% | 1.40% | 0.56% | 1.25% | 0.09% | 9.58% | 8.78% | 6.51% | 2.96% | 4.11% | 2.47% | -0.40% | -0.69% | 2.30% | 2.02% | 0.84% | 0.35% | 0.84% | 0.35% |
| All Listed CEFs/BDCs | 0.19% | 0.18% | 2.61% | 1.82% | 3.82% | 3.22% | 7.32% | 8.59% | 11.57% | 12.33% | 10.25% | 9.49% | 5.60% | 5.16% | 7.80% | 6.84% | 2.47% | 2.00% | 2.47% | 2.00% |
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