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Release: Closed-End Fund Assets

Closed-End Fund Assets and Net Issuance

Washington, DC, December 2, 2021—The combined assets of the nation’s closed-end funds were $306.66 billion at the end of September 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: 3Q

2021: 2Q

2020

 

Equity

121,489

121,223

105,888

 
 

Domestic

89,570

89,486

76,623

 
 

Global

31,928

31,736

29,265

 

Bond

185,159

183,044

175,700

 
 

Domestic Taxable

62,761

62,122

59,378

 
 

Domestic Municipal

98,312

96,721

94,917

 

 

Global

24,086

24,201

21,405

 

Total

306,657

304,267

281,587

 

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

Highlights: Total closed-end fund assets increased $2.39 billion during the third quarter. Equity fund assets increased by $266 million to $121.49 billion, and bond fund assets increased by $2.12 billion to $185.16 billion. 

For the quarter, closed-end funds had net issuance of $794 million, compared with net issuance of $3.89 billion in the second quarter of 2021.

There were 468 closed-end funds at the end of the third quarter. Bond funds numbered 295, and equity funds totaled 173. 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: 3Q

2021: 2Q

2020

2019

 

Gross Issuance

1,736

3,895

1,836

1,422

 

Gross Redemptions

942

8

1,706

276

 

Net Issuance

794

3888

130

1,146

 

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

Number of Closed-End Funds by Type

 

2021: 3Q

2021: 2Q

     2020

 

Equity

173

174

176

 
 

Domestic

108

109

110

 
 

Global

65

65

66

 

Bond

295

295

316

 
 

Domestic Taxable

133

133

133

 
 

Domestic Municipal

126

126

147

 

 

Global

36

36

36

 

Total

468

469

492