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 | 82 | -9.15% | -9.30% | 8.08% | 37.20% | 25.56% | 8.62% | $816 | 19.50 | 15.93 | 3099 | -0.21% | 81.89% | 61.71% | 0.75 |
| Sector Equity CEFs | 80 | -5.34% | -3.95% | 8.40% | 26.88% | 28.40% | 15.34% | $1442 | 16.65 | 14.88 | 7283 | -0.47% | 84.77% | 57.90% | 0.56 |
| Taxable Bond CEFs | 126 | -7.42% | -3.72% | 11.07% | 0.55% | 21.74% | 25.75% | $515 | 13.16 | 6.88 | 2112 | -3.18% | 67.47% | 61.25% | 0.51 |
| Debt Focused BDCs | 48 | -24.64% | -6.71% | 13.63% | -16.31% | 0.83% | 52.16% | $1644 | 28.64 | 6.29 | 11721 | -12.14% | N/A | 36.92% | 0.64 |
| Municipal (tax-free) CEFs | 73 | -2.80% | -5.66% | 6.05% | 45.88% | 22.95% | 32.03% | $655 | 9.87 | 7.07 | 1724 | -7.70% | 66.02% | 50.45% | 0.75 |
| All Listed CEFs/BDCs | 412 | -8.66% | -5.74% | 9.32% | 19.04% | 21.41% | 24.54% | $909 | 16.57 | 10.39 | 4359 | -3.67% | 63.37% | 55.43% | 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 | 2.84% | 2.20% | 2.41% | 3.17% | 11.57% | 11.14% | 14.49% | 15.67% | 28.36% | 28.79% | 19.28% | 17.14% | 7.87% | 8.07% | 11.27% | 10.42% | 13.57% | 13.53% | 12.34% | 14.02% |
| Sector Equity CEFs | 1.59% | 1.44% | 0.85% | 0.78% | 3.29% | 3.64% | 9.41% | 9.96% | 20.45% | 22.45% | 16.94% | 15.73% | 7.81% | 8.37% | 8.98% | 8.67% | 5.60% | 5.42% | 7.33% | 8.77% |
| Taxable Bond CEFs | 0.94% | 1.00% | 0.90% | 1.61% | 3.60% | 3.88% | 0.55% | 2.74% | 4.24% | 8.46% | 9.54% | 9.38% | 2.44% | 3.55% | 6.07% | 5.99% | 4.21% | 4.89% | -0.04% | 2.55% |
| Debt Focused BDCs | 0.01% | 0.76% | -1.62% | 1.08% | 3.40% | -0.42% | -10.56% | -0.80% | -13.04% | 2.50% | 0.63% | 6.03% | 0.58% | 6.70% | 5.88% | 6.95% | 1.33% | 1.68% | -9.91% | 0.92% |
| Municipal (tax-free) CEFs | 0.47% | 0.13% | 2.00% | 2.32% | 2.08% | 1.90% | 5.23% | 2.93% | 13.34% | 9.35% | 7.46% | 3.78% | -0.75% | -0.70% | 1.85% | 1.77% | 4.17% | 3.11% | 5.03% | 2.77% |
| All Listed CEFs/BDCs | 1.22% | 1.14% | 1.04% | 1.81% | 4.75% | 4.61% | 4.45% | 6.32% | 11.72% | 14.66% | 11.69% | 10.75% | 3.76% | 4.87% | 6.85% | 6.65% | 5.88% | 5.95% | 3.59% | 6.06% |
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