ICI Launches Quarterly Closed-End Fund ReportWashington, DC, November 4, 2002 - The combined assets of the nation's closed-end funds were $146.53 billion for the second quarter of 2002, the Investment Company Institute reported today in a new quarterly statistical collection of closed-end funds. Closed-end fund assets increased $3.27 billion from the previous quarter, according to the Institute. During the second quarter, closed-end equity fund assets increased by $76 million to $30.86 billion, and closed-end bond fund assets increased by $3.20 billion to $115.67 billion. The Institute's new quarterly statistical collection also includes the value of net new proceeds invested in closed-end funds and the total number of funds. For the quarter, net proceeds to closed-end funds were $4.66 billion, compared with $2.23 billion in the first quarter. There were 508 closed-end funds at the end of the second quarter. Closed-end bond funds totaled 394, and closed-end equity funds totaled 114. There were 494 closed-end funds in the first quarter and 520 closed-end funds at year-end 2001.
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Assets of Closed-End Funds by Type
(millions of dollars)
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Q2: 2002 |
Q1: 2002 |
2001 |
2000 |
Total Equity |
30,861 |
30,785 |
30,434 |
35,310 |
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Domestic |
21,995 |
21,292 |
21,588 |
23,256 |
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Global |
8,866 |
9,493 |
8,846 |
12,054 |
Total Bond |
115,672 |
112,475 |
109,443 |
102,574 |
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Domestic |
105,752 |
102,479 |
100,027 |
92,562 |
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Global |
9,920 |
9,996 |
9,416 |
10,012 |
All |
146,533 |
143,260 |
139,877 |
137,884 |
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