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Print this pageClosed-End Fund Assets and Net Issuance
Fourth Quarter, 2019
Washington, DC; February 24, 2020—The combined assets of the nation’s closed-end funds were $277.71 billion at the end of December 2019, according to ICI. The Institute’s quarterly statistical collection also includes the value of shares issued and redeemed by closed-end funds.
Assets of Closed-End Funds by Type
End of Period, Millions of dollars
|
|
2019: 4Q |
2019: 3Q |
2018 |
|
|
Equity |
107,160 |
103,045 |
91,201 |
|
|
|
Domestic |
79,304 |
77,036 |
67,873 |
|
|
Global |
27,856 |
26,009 |
23,328 |
|
Bond |
170,545 |
170,270 |
160,141 |
|
|
|
Domestic Taxable |
57,151 |
56,974 |
52,948 |
|
|
Domestic Municipal |
92,348 |
92,535 |
87,544 |
|
|
Global |
21,047 |
20,761 |
19,649 |
|
Total |
277,705 |
273,315 |
251,341 |
|
Note: Components may not add to the total because of rounding.
Highlights: Total closed-end fund assets increased $4.39 billion during the fourth quarter. Equity fund assets increased by $4.12 billion to $107.16 billion, and bond fund assets increased by $275 million to $170.55 billion.
For the quarter, closed-end funds had net issuance of $1.15 billion, compared with net issuance of $1.59 billion in the third quarter of 2019.
There were 500 closed-end funds at the end of the fourth quarter. Bond funds numbered 320, and equity funds totaled 180. There were 503 closed-end funds at year-end 2018.
Value of Shares Issued and Redeemed by All Closed-End Funds
Millions of dollars
|
|
2019: 4Q |
2019: 3Q |
2018 |
2017 |
|
Gross Issuance |
1,422 |
1,790 |
2,916 |
3,070 |
|
Gross Redemptions |
276 |
204 |
1,912 |
2,391 |
|
Net Issuance |
1,146 |
1,586 |
1,004 |
678 |
Note: Components may not add to the total because of rounding.
Number of Closed-End Funds by Type
|
|
2019: 4Q |
2019: 3Q |
2018 |
|
|
Equity |
180 |
179 |
179 |
|
|
|
Domestic |
111 |
111 |
109 |
|
|
Global |
69 |
68 |
70 |
|
Bond |
320 |
322 |
324 |
|
|
|
Domestic Taxable |
133 |
135 |
131 |
|
|
Domestic Municipal |
152 |
152 |
159 |
|
|
Global |
35 |
35 |
34 |
|
Total |
500 |
501 |
503 |
|
