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 | -8.94% | -9.42% | 8.51% | 64.43% | 29.04% | 9.36% | $718 | 19.91 | 15.37 | 2144 | 13.76% | 80.59% | 68.15% | 0.70 |
| Sector Equity CEFs | 82 | -4.17% | -4.08% | 8.24% | 21.84% | 30.89% | 15.23% | $1407 | 19.01 | 15.04 | 12843 | 7.48% | 74.99% | 66.90% | 0.56 |
| Taxable Bond CEFs | 127 | -4.51% | -3.68% | 11.60% | 4.21% | 22.68% | 24.94% | $518 | 14.75 | 6.80 | 2731 | -2.03% | 50.31% | 64.94% | 0.61 |
| Debt Focused BDCs | 48 | -19.48% | -6.48% | 13.09% | -3.85% | 0.40% | 50.55% | $1713 | 27.49 | 4.68 | 10907 | -0.61% | N/A | 50.32% | 0.54 |
| Municipal (tax-free) CEFs | 92 | -3.98% | -5.89% | 6.01% | 41.76% | 20.99% | 34.18% | $523 | 10.29 | 7.42 | 1656 | -11.68% | 34.44% | 32.46% | 1.10 |
| All Listed CEFs/BDCs | 431 | -6.97% | -5.80% | 9.32% | 25.35% | 22.42% | 25.00% | $855 | 17.26 | 9.97 | 5213 | 0.61% | 51.92% | 56.92% | 0.68 |
| 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 | -1.35% | -1.57% | 1.72% | 1.10% | 5.88% | 5.27% | 11.57% | 11.52% | 23.88% | 20.50% | 16.23% | 14.52% | 8.94% | 7.84% | 11.95% | 10.56% | 3.45% | 3.29% | 3.45% | 3.29% |
| Sector Equity CEFs | -1.75% | -2.14% | 1.65% | 1.42% | 6.44% | 6.33% | 12.27% | 12.66% | 18.58% | 18.39% | 13.44% | 12.93% | 9.59% | 9.13% | 10.40% | 9.61% | 2.87% | 2.79% | 2.87% | 2.79% |
| Taxable Bond CEFs | -1.32% | -0.47% | -0.01% | 0.14% | 0.83% | 0.95% | 1.40% | 3.49% | 4.72% | 7.83% | 8.56% | 8.63% | 3.89% | 3.62% | 7.58% | 6.64% | 0.84% | 0.82% | 0.84% | 0.82% |
| Debt Focused BDCs | -4.50% | 0.04% | -5.25% | 0.27% | -1.69% | 2.82% | -7.69% | 4.82% | -13.18% | 7.09% | 3.66% | 8.69% | 5.97% | 8.77% | 8.42% | 7.45% | -4.18% | 0.29% | -4.18% | 0.29% |
| Municipal (tax-free) CEFs | 0.68% | 0.63% | 2.23% | 0.82% | 2.87% | 1.22% | 9.67% | 7.85% | 5.97% | 2.23% | 4.98% | 2.74% | -0.42% | -0.72% | 2.25% | 2.03% | 2.51% | 1.20% | 2.51% | 1.20% |
| All Listed CEFs/BDCs | -1.38% | -0.69% | 0.47% | 0.72% | 2.82% | 3.04% | 5.96% | 7.71% | 9.15% | 10.85% | 9.66% | 9.22% | 5.11% | 4.96% | 7.75% | 6.90% | 1.44% | 1.67% | 1.44% | 1.67% |
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