Closed-End Fund Assets, First Quarter 2004Washington, DC, June 7, 2004 - The combined assets of the nation's closed-end funds were $225.46 billion at the end of March 2004, the Investment Company Institute reported today in a quarterly statistical collection of closed-end funds. Total closed-end fund assets increased $11.78 billion during the first quarter, according to the Institute. Equity fund assets increased by $7.48 billion to $59.37 billion, and bond fund assets increased by $4.30 billion to $166.09 billion. The ICI's data 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 $7.79 billion, compared with $5.23 billion in the fourth quarter of 2003. There were 590 closed-end funds as of the end of the first quarter. Bond funds totaled 455, and equity funds totaled 135. There were 586 closed-end funds at year-end 2003, and 545 closed-end funds at year-end 2002.
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Assets of Closed-End Funds by Type, End of period
(millions of dollars)
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1Q 2004 |
2003 |
2002 |
2001 |
Total Equity |
59,369 |
51,887 |
33,724 |
31,075 |
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Domestic |
47,286 |
41,855 |
26,596 |
22,261 |
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Global |
12,083 |
10,032 |
7,128 |
8,814 |
Total Bond |
166,092 |
161,794 |
125,081 |
110,176 |
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Domestic Taxable |
59,742 |
56,153 |
25,643 |
26,606 |
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Domestic Municipal |
94,666 |
94,102 |
90,024 |
74,467 |
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Global |
11,684 |
11,539 |
9,414 |
9,102 |
All |
225,461 |
213,681 |
158,805 |
141,251 |
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