AICA's: Listed / Non-Listed Closed-End Fund, Business Development Company (BDC) & Interval / Tender Offer Fund Custodian Satisfaction & Wish List Survey
AICA is seeking to better understand the current satisfaction, needs, and wish-list for the Advisers and Investment Firms that focus or specialize in the use or inclusion in CEFs, BDCs, Interval Funds. This includes the products, funds and other investment vehicles. We plan to use this data to work with custodians to add features and functions that make it easy for the closed-end fund ecosystem to grow and support its best advocates and users.

We plan to turn this into an article to share the results with the participants and other key CEF/BDC and Interval fund stakeholders. Please let us know at the end if you would like to be considered as a source for the article.

To help us get a good and diverse list of responses, founding member of AICA: CEF Advisors // CEFData.com will offer 90 Days free access to our Daily Alerts Email for listed CEFs/BDCs for every completed response by a qualified adviser or investment professional (a $120 - $199 value). If you are a current DA subscriber they will extend your renewal date by 90 days. The 6 day a week alert service covers 100% of the press releases and SEC filings for listed CEFs/BDCs.

Survey takes about 7-10 minutes.

Learn more about AICA at: https://www.AICalliance.org

The Active Investment Company Alliance (AICA) is 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).

We will work to engage, educate, connect and offer transparency for investment professionals and investors; seek to gain better advocacy and guidance from regulators to protect investors and to support quality fund managers and sponsors.
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Email *
What is the Name of Your Firm?
Are you a Current CEFData.com Daily Alert Email Subscriber? (To Determine new or extension of DA service for full participation of survey) *
What Is Your Primary Classification? *
What is the Name of your Primary Custodian / Firm?
What Best Describes Your Firm *
Third Party Qualified Custodian: Please Check Which Firms You Use for Custody *
Required
Wire-House Adviser Firm *
How Satisfied are you with your Current Custodian? *
Unsatisfied
Very Satisfied
In the Past Year has your Satisfaction with your Custodian Improved? *
What types of funds do you use in your strategies *
Required
What is the Total Assets Under Management ($AUM) of Your Firm / Book of Clients? *
Describe the Investment Style / Objective of the Firm
Percent Assets Fee-base *
Percent Assets Commission Based *
As of 12/31/2019, What Percent of Your Holdings Comprise Listed/Non-Listed Closed-End Funds or BDCs? *
On Average What is the typical turnover of your client portfolios? *
How Large of a Benefit Would "Cost Basis Dividends Collected To Date"  be for Your Clients? This would be a report available for client showing the total cumulative dividends received since purchase of the shares.) *
How Many Shares of Combined Listed CEFs / BDCs Would you Estimate your Firm Trades a Year for your clients? Give the best answer in share or dollar terms *
How would you rate your primary custodian trading experience? *
Excellent
Poor
Institutional Quality Liquidity and Specialized Trade Desks can Enhance Execution Quality and Capacity.  How Important is Trade Implementation to your Client Outcomes and/or your Operation? *
Very Important
Not Important
Would you/your clients pay a small commission to get better access to institutional quality liquidity and execution? *
Do You Use or Desires to Access Non-Listed Funds (Interval/Tender Offer) Funds from the Following Sponsors?
Do You Use Margin? *
Do You Use Options for Clients? *
Do you allow client access to trade their own accounts if needed? *
Do you wish you had access to Listed CEF / BDC IPOs in a Fee-Only Format? *
Do You Use Unit Investment Trusts (UITs) to Access CEF or BDC Strategies? *
What Do You Like The MOST About Your Current Custodian? *
What Do You Like The LEAST About Your Current Custodian? *
What Is On Your Wish List For Features, Benefits, Access or Reporting  From Your Custodian? *
What Year Did You Enter the Investment Management Industry?
Number of Household Clients
Number of Total Client Accounts
How Many Members are on Your Shared Client Team?
Geography: What State / Province or Country do you Live / Work
Please add any info or elaboration that would be helpful in understanding your answers to this survey.
Would you like to be considered as a source for an article covering this topic? *
Please share a good phone number if you want us to be able to reach you
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