Closed-End Fund Assets, First Quarter 2003Washington, DC, June 12, 2003 - The combined assets of the nation's closed-end funds were $165.03 billion at the end of March 2003, the Investment Company Institute reported today in a quarterly statistical collection of closed-end funds. Total closed-end fund assets increased $8.64 billion during the first quarter, according to the Institute. Equity fund assets decreased by $143 million to $33.40 billion, and bond fund assets increased by $8.78 billion to $131.63 billion. The Institute's quarterly statistical collection also includes the value of new proceeds invested in closed-end funds and the total number of funds. For the quarter, proceeds to closed-end funds were $7.17 billion, compared with $5.12 billion in the fourth quarter of 2002. There were 547 closed-end funds as of the end of the first quarter. Bond funds totaled 430, and equity funds totaled 117. There were 562 closed-end funds at year-end 2002, and 528 closed-end funds at year-end 2001.
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Assets of Closed-End Funds by Type, End of period
(millions of dollars)
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1Q 2003 |
2002 |
2001 |
2000 |
Total Equity |
33,397 |
33,540 |
30,710 |
35,027 |
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Domestic |
26,630 |
26,453 |
21,918 |
22,973 |
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Global |
6,767 |
7,087 |
8,792 |
12,054 |
Total Bond |
131,634 |
122,854 |
108,992 |
101,855 |
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Domestic Taxable |
31,610 |
25,278 |
25,235 |
27,638 |
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Domestic Municipal |
90,207 |
88,162 |
75,255 |
65,171 |
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Global |
9,817 |
9,414 |
8,502 |
9,046 |
All |
165,031 |
156,394 |
139,702 |
136,882 |
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