Closed-End Fund Assets, Second Quarter 2003Washington, DC, September 4, 2003 - The combined assets of the nation's closed-end funds were $185.40 billion at the end of June 2003, the Investment Company Institute reported today in a quarterly statistical collection of closed-end funds. Total closed-end fund assets increased $19.64 billion during the second quarter, according to the Institute. Equity fund assets increased by $5.66 billion to $39.36 billion, and bond fund assets increased by $13.98 billion to $146.04 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 $11.61 billion, compared with $7.20 billion in the first quarter. There were 555 closed-end funds as of the end of the second quarter. Bond funds totaled 433, and equity funds totaled 122. There were 544 closed-end funds at year-end 2002, and 495 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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2Q 2003 |
1Q 2003 |
2002 |
2001 |
Total Equity |
39,360 |
33,700 |
33,479 |
31,072 |
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Domestic |
31,467 |
26,900 |
26,361 |
22,258 |
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Global |
7,893 |
6,799 |
7,118 |
8,814 |
Total Bond |
146,043 |
132,062 |
125,025 |
111,347 |
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Domestic Taxable |
43,848 |
31,851 |
25,618 |
26,566 |
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Domestic Municipal |
91,695 |
90,399 |
89,993 |
75,678 |
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Global |
10,500 |
9,813 |
9,414 |
9,102 |
All |
185,403 |
165,762 |
158,504 |
142,419 |
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