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 | -11.10% | -9.94% | 8.22% | 14.38% | 29.89% | 8.91% | $631 | 17.20 | 18.86 | 1432 | -8.65% | 80.24% | 65.33% | 0.79 |
| Sector Equity CEFs | 90 | -4.29% | -4.56% | 8.05% | 26.65% | 29.38% | 15.86% | $921 | 16.97 | 17.01 | 2872 | -3.93% | 85.28% | 66.06% | 0.69 |
| Taxable Bond CEFs | 132 | -0.47% | -4.62% | 9.97% | 6.77% | 20.06% | 25.34% | $457 | 13.36 | 8.09 | 1920 | -2.75% | 65.78% | 65.12% | 0.59 |
| Debt Focused BDCs | 47 | -4.15% | -6.10% | 10.97% | 17.34% | 0.80% | 50.58% | $1515 | 23.18 | 6.09 | 7276 | -4.04% | N/A | 42.71% | 0.63 |
| Municipal (tax-free) CEFs | 108 | -6.22% | -5.35% | 5.46% | 2.53% | 10.23% | 30.76% | $503 | 11.20 | 6.92 | 1227 | 2.35% | 65.57% | 64.82% | 0.88 |
| All Listed CEFs/BDCs | 463 | -5.16% | -6.08% | 8.28% | 12.07% | 19.16% | 24.41% | $693 | 15.38 | 11.31 | 2385 | -3.11% | 65.68% | 62.65% | 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 | -0.62% | -0.55% | 2.44% | 2.17% | 3.53% | 1.90% | 6.08% | 4.03% | 18.36% | 14.79% | -1.08% | 0.13% | 6.66% | 6.67% | 5.99% | 5.62% | 2.21% | 1.18% | 12.12% | 8.32% |
| Sector Equity CEFs | 0.27% | 0.36% | 4.66% | 3.63% | 8.81% | 6.43% | 13.19% | 9.55% | 25.38% | 19.93% | 5.06% | 5.63% | 6.22% | 6.28% | 5.54% | 4.99% | 6.96% | 5.46% | 19.85% | 13.69% |
| Taxable Bond CEFs | 0.55% | 0.39% | 2.96% | 1.95% | 6.36% | 4.17% | 8.56% | 5.47% | 20.15% | 13.71% | 0.86% | 0.90% | 4.55% | 3.71% | 5.06% | 4.20% | 5.79% | 3.82% | 13.59% | 7.59% |
| Debt Focused BDCs | -0.82% | 0.19% | 2.42% | 0.78% | -2.76% | 1.86% | 2.69% | 3.82% | 10.15% | 9.01% | 5.36% | 7.06% | 7.25% | 6.17% | 6.90% | 6.84% | -2.79% | 1.11% | 3.83% | 4.91% |
| Municipal (tax-free) CEFs | 1.50% | 0.82% | 2.80% | 1.21% | 7.12% | 3.87% | 8.48% | 2.94% | 19.71% | 11.13% | -4.39% | -2.59% | 0.81% | 0.60% | 3.21% | 2.94% | 5.42% | 2.88% | 11.80% | 3.78% |
| All Listed CEFs/BDCs | 0.34% | 0.29% | 3.08% | 2.01% | 5.53% | 3.91% | 8.40% | 5.23% | 19.79% | 14.07% | 0.38% | 1.40% | 4.57% | 4.19% | 4.95% | 4.48% | 4.39% | 3.15% | 13.27% | 7.73% |
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