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 | -11.31% | -9.95% | 7.98% | 13.44% | 30.34% | 8.93% | $656 | 17.14 | 18.76 | 1512 | 1.93% | 85.06% | 63.73% | 0.75 |
| Sector Equity CEFs | 89 | -3.89% | -4.49% | 7.91% | 28.59% | 30.09% | 15.74% | $963 | 16.46 | 16.95 | 3215 | 1.32% | 86.73% | 64.92% | 0.63 |
| Taxable Bond CEFs | 132 | 0.50% | -4.38% | 9.91% | 6.82% | 19.52% | 24.78% | $459 | 12.93 | 8.06 | 2063 | 3.86% | 67.48% | 63.95% | 0.52 |
| Debt Focused BDCs | 48 | -4.62% | -5.89% | 11.05% | 21.18% | 0.57% | 50.29% | $1516 | 22.52 | 5.90 | 7294 | 3.47% | N/A | 40.21% | 0.55 |
| Municipal (tax-free) CEFs | 108 | -5.46% | -5.34% | 5.56% | 4.97% | 11.08% | 30.39% | $498 | 10.62 | 6.93 | 1290 | 9.45% | 67.94% | 64.03% | 0.86 |
| All Listed CEFs/BDCs | 463 | -4.65% | -5.99% | 8.23% | 13.31% | 19.29% | 24.20% | $706 | 14.96 | 11.25 | 2532 | 4.44% | 66.91% | 61.32% | 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 | -0.05% | 0.22% | 5.00% | 5.18% | 4.90% | 3.84% | 13.29% | 10.27% | 28.63% | 24.58% | 1.68% | 2.55% | 7.99% | 8.00% | 7.57% | 6.88% | -0.10% | 0.34% | 17.61% | 13.80% |
| Sector Equity CEFs | 0.25% | 0.19% | 3.91% | 3.37% | 8.68% | 6.24% | 18.83% | 13.49% | 36.37% | 28.72% | 6.59% | 6.73% | 7.23% | 7.19% | 6.67% | 5.91% | 0.24% | 0.50% | 24.57% | 17.63% |
| Taxable Bond CEFs | 0.09% | -0.06% | 1.89% | 0.99% | 5.80% | 3.70% | 12.43% | 7.02% | 26.52% | 17.22% | 1.75% | 1.52% | 4.93% | 4.01% | 5.64% | 4.52% | 0.03% | -0.32% | 15.73% | 8.65% |
| Debt Focused BDCs | 0.00% | 0.02% | 1.78% | 1.74% | -2.44% | 2.87% | 3.28% | 4.55% | 14.74% | 8.65% | 6.67% | 6.74% | 7.29% | 6.39% | 8.04% | 6.93% | -0.05% | 0.13% | 6.72% | 6.60% |
| Municipal (tax-free) CEFs | -0.23% | -0.78% | 0.28% | -0.55% | 4.37% | 1.58% | 11.03% | 4.34% | 26.72% | 14.88% | -3.63% | -2.34% | 0.21% | 0.29% | 3.10% | 2.58% | -0.58% | -0.88% | 12.10% | 3.21% |
| All Listed CEFs/BDCs | 0.09% | -0.12% | 2.53% | 1.90% | 5.05% | 3.61% | 12.63% | 7.96% | 27.78% | 19.30% | 1.78% | 2.27% | 4.99% | 4.62% | 5.69% | 4.89% | 0.00% | -0.13% | 16.22% | 9.79% |
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