Release: Closed-End Fund Assets, First Quarter 2021

Closed-End Fund Assets and Net Issuance

Washington, DC, May 25, 2021—The combined assets of the nation’s closed-end funds were $287.14 billion at the end of March 2021 according to ICI. The Institute’s quarterly statistical collection also includes the value of shares issued and redeemed by closed-end funds.

Assets of Closed-End Funds by Type
End of Period, Millions of dollars

 

2021: 1Q

2020: 4Q

2019

Equity

110,596

105,888

107,181

 

Domestic

80,738

76,623

79,324

 

Global

29,858

29,265

27,856

Bond

176,539

176,047

171,493

 

Domestic Taxable

59,766

59,469

57,177

 

Domestic Municipal

95,274

95,172

93,213

 

Global

21,500

21,405

21,103

Total

287,135

281,935

278,673

Note: Components may not add to the total because of rounding.

Highlights: Total closed-end fund assets increased $5.2 billion during the first quarter. Equity fund assets increased by $4.7 billion to $110.60 billion, and bond fund assets increased by $0.50 billion to $176.54 billion. 

For the quarter, closed-end funds had net issuance of $158 million, compared with net issuance of $130 million in the fourth quarter of 2020.

There were 484 closed-end funds at the end of the first quarter. Bond funds numbered 309, and equity funds totaled 175. There were 494 closed-end funds at year-end 2020.

Value of Shares Issued and Redeemed by All Closed-End Funds
Millions of dollars

 

2021: 1Q

2020: 4Q

2020

2019

Gross Issuance

526

1,836

4,886

7,515

Gross Redemptions

368

1,706

2,149

1,633

Net Issuance

158

130

2,737

5,882

Note: Components may not add to the total because of rounding.

Number of Closed-End Funds by Type

 

2021: 1Q

2020: 4Q

     2019

Equity

175

176

181

 

Domestic

110

110

112

 

Global

65

66

69

Bond

309

318

320

 

Domestic Taxable

132

133

133

 

Domestic Municipal

140

149

152

 

Global

37

36

35

Total

484

494

501