Closed-End Fund Assets, Third Quarter 2002Washington, DC, December 30, 2002 - The combined assets of the nation's closed-end funds were $149.61 billion at the end of the third quarter of 2002, the Investment Company Institute reported today in a quarterly statistical collection of closed-end funds. Total closed-end fund assets increased $3.00 billion during the third quarter, according to the Institute. Equity fund assets decreased by $461 million to $30.37 billion, and bond fund assets increased by $3.46 billion to $119.24 billion. The Institute's 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 $5.62 billion, compared with $5.02 billion in the second quarter. There were 527 closed-end funds at the end of the third quarter. Bond funds totaled 409, and equity funds totaled 118. There were 514 closed-end funds at the end of the second quarter, and 530 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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3Q 2002 |
2Q 2002 |
2001 |
2000 |
Total Equity |
30,373 |
30,834 |
30,876 |
35,310 |
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Domestic |
23,508 |
22,499 |
22,084 |
23,256 |
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Global |
6,865 |
8,335 |
8,792 |
12,054 |
Total Bond |
119,240 |
115,776 |
109,122 |
101,984 |
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Domestic Taxable |
25,990 |
25,706 |
24,445 |
26,801 |
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Domestic Municipal |
85,389 |
80,086 |
75,255 |
65,171 |
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Global |
7,861 |
9,984 |
9,422 |
10,012 |
All |
149,613 |
146,610 |
139,998 |
137,294 |
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