Closed-End Fund Assets, Fourth Quarter 2003Washington, DC, March 5, 2004 - The combined assets of the nation's closed-end funds were $213.97 billion at the end of December 2003, the Investment Company Institute reported today in a quarterly statistical collection of closed-end funds. Total closed-end fund assets increased $11.46 billion during the fourth quarter, according to the Institute. Equity fund assets increased by $6.73 billion to $51.86 billion, and bond fund assets increased by $4.73 billion to $162.11 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 $5.40 billion, compared with $13.36 billion in the third quarter of 2003. There were 586 closed-end funds as of the end of the fourth quarter. Bond funds totaled 456, and equity funds totaled 130. There were 545 closed-end funds at year-end 2002, and 493 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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4Q 2003 |
3Q 2003 |
2002 |
2001 |
Total Equity |
51,863 |
45,130 |
33,724 |
31,075 |
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Domestic |
41,835 |
36,401 |
26,596 |
22,261 |
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Global |
10,028 |
8,729 |
7,128 |
8,814 |
Total Bond |
162,110 |
157,382 |
125,081 |
110,176 |
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Domestic Taxable |
56,438 |
54,021 |
25,643 |
26,606 |
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Domestic Municipal |
94,133 |
92,484 |
90,024 |
74,467 |
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Global |
11,539 |
10,877 |
9,414 |
9,102 |
All |
213,973 |
202,512 |
158,805 |
141,251 |
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