Closed-End Fund Resource Center

Closed-End Fund Resource Center

A closed-end fund, a type of investment company, generally issues a fixed number of shares that are listed on a stock exchange or traded in the over-the-counter market. The assets of a closed-end fund are professionally managed in accordance with the fund’s investment objectives and policies, and may be invested in stocks, bonds, and other securities.

Background on Closed-End Funds

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White Paper

Consider This: Interval Fund Operational Practices (pdf)

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Video

Focus on Funds: ICI Leads Effort to Help Funds Modernize Interval Fund Operations

Regulators and investors alike are taking a new look at interval funds, and ICI has responded by...
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White Paper

Interval Funds: Operational Challenges and the Industry’s Way Forward (pdf)

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ICI Viewpoints

Improving Operational Efficiency for Interval Funds

Fund firms that offer interval funds—a type of closed-end fund that periodically offers to...
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FAQ

Closed-End Funds and Their Use of Leverage: FAQs

This document contains FAQs about closed-end funds, including information related to failed auctions...
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Guide

A Guide to Closed-End Funds

This guide includes an overview of the types of closed-end funds and how they operate. However, each...
Closed-End Fund Perspective

Closed-End Fund Assets Recovered with Financial Markets

Closed-end funds finished 2020 with $279 billion in total assets—unchanged from their level at the end of 2019—as financial markets steadily recovered from their sharp downturn in February and March.

Research and Statistics

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Perspective

The Closed-End Fund Market, 2020 (pdf)

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Perspective

Supplemental Tables: The Closed-End Fund Market, 2020 (xls)

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Video

Focus on Funds: Gain Market Insights on Closed-End Funds

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Quarterly Closed-End Fund Assets

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Closed-End Fund Ownership

ICI research on the closed-end fund market

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News Release

New ICI Analysis: Competitive Closed-End Fund Market Continues to Grow Assets Under Management

Comment Letters

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Comment Letter

Letter to SEC Chair Clayton on Request for Commission Action to Protect Closed-End Fund Shareholders...

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Comment Letter

Recommendations Regarding the Availability of Closed-End Fund Takeover Defenses (pdf)

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Comment Letter

ICI Letter on SEC’s Concept Release on Securities Offering Exemptions (pdf)

Other Resources