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Release: Closed-End Fund Assets

Closed-End Fund Assets and Net Issuance

Washington, DC, March 1, 2022—The combined assets of the nation’s closed-end funds were $309.16 billion at the end of December 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: 4Q

2021: 3Q

2020

 

Equity

122,878

121,498

105,888

 

Domestic

90,558

89,570

76,623

 

Global

32,320

31,928

29,265

 

Bond

186,281

185,930

175,700

 

Domestic Taxable

64,508

64,872

59,378

 

Domestic Municipal

97,936

96,972

94,917

 

Global

23,837

24,086

21,405

 

Total

309,159

307,428

281,587

 

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

Highlights: Total closed-end fund assets increased $1.73 billion during the fourth quarter. Equity fund assets increased by $1.38 billion to $122.88 billion, and bond fund assets increased by $351 million to $186.28 billion. 

For the quarter, closed-end funds had net issuance of $3.22 billion, compared with net issuance of $2.91 billion in the third quarter of 2021.

There were 461 closed-end funds at the end of the fourth quarter. Bond funds numbered 291, and equity funds totaled 170. There were 492 closed-end funds at year-end 2020.

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

 

2021: 4Q

2021: 3Q

2020    

2019

 

Gross Issuance

3,238

3,847

4,886

7,515

 

Gross Redemptions

17

942

2,149

1,633

 

Net Issuance

3,221

2,905

2,737

5,882

 

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

Number of Closed-End Funds by Type

 

2021: 4Q

2021: 3Q

     2020

 

Equity

170

173

176

 

Domestic

104

108

110

 

Global

66

65

66

 

Bond

291

296

316

 

Domestic Taxable

133

134

133

 

Domestic Municipal

124

126

147

 

Global

34

36

36

 

Total

461

469

492