Closed-End Fund Assets and Net Issuance
Washington, DC, February 29, 2024—The combined assets of the nation’s closed-end funds were $255.60 billion at the end of December 2023 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
|
2023: Q4 |
2023: Q3 |
2022 |
|
Equity |
100,232 |
95,963 |
99,002 |
|
Domestic |
74,716 |
71,871 |
74,813 |
|
Global |
25,516 |
24,092 |
24,189 |
|
Bond |
155,369 |
145,930 |
153,144 |
|
Domestic Taxable |
54,038 |
49,998 |
52,045 |
|
Domestic Municipal |
82,510 |
77,731 |
82,433 |
|
|
Global |
18,821 |
18,201 |
18,666 |
Total |
255,602 |
241,893 |
252,145 |
Note: Components may not add to the total because of rounding.
Highlights: Total closed-end fund assets increased $13.71 billion during the fourth quarter. Equity fund assets increased by $4.27 billion to $100.23 billion, and bond fund assets increased by $9.44 billion to $155.37 billion.
For the quarter, closed-end funds had net issuance of -$908 million, compared with net issuance of -$342 million in the third quarter of 2023.
There were 414 closed-end funds at the end of the fourth quarter. Bond funds numbered 260, and equity funds totaled 154. There were 426 closed-end funds in the third quarter of 2023.
Value of Shares Issued and Redeemed by All Closed-End Funds
Millions of dollars
|
|
2023: Q4 |
2023: Q3 |
2022 |
2021 |
Gross Issuance |
133 |
223 |
1,232 |
18,539 |
|
Gross Redemptions |
1,041 |
565 |
1,721 |
1,356 |
|
Net Issuance |
-908 |
-342 |
-489 |
17,183 |
Note: Components may not add to the total because of rounding.
Number of Closed-End Funds by Type
|
2023: Q4 |
2023: Q3 |
2022 |
|
Equity |
154 |
158 |
163 |
|
Domestic |
95 |
98 |
101 |
|
Global |
59 |
60 |
62 |
|
Bond |
260 |
268 |
278 |
|
Domestic Taxable |
117 |
121 |
128 |
|
Domestic Municipal |
112 |
115 |
118 |
|
|
Global |
31 |
32 |
32 |
Total |
414 |
426 |
441 |