Closed-End Fund Assets and Net Issuance
Washington, DC, November 25, 2024—The combined assets of the nation’s closed-end funds were $265.16 billion at the end of September 2024 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
| 2024: Q3 | 2024: Q2 | 2023 | |
|
Equity |
108,498 | 104,075 | 100,232 |
|
Domestic |
81,180 | 77,428 | 74,716 |
|
Global |
27,318 | 26,647 | 25,516 |
|
Bond |
156,662 | 153,734 | 153,754 |
|
Domestic Taxable |
55,653 | 54,946 | 53,916 |
|
Domestic Municipal |
80,369 | 79,298 | 81,017 |
|
Global |
20,640 | 19,491 | 18,821 |
|
Total |
265,160 | 257,809 | 253,986 |
Note: Components may not add to the total because of rounding.
Highlights: Total closed-end fund assets increased $7.35 billion during the third quarter. Equity fund assets increased by $4.42 billion to $108.50 billion, and bond fund assets increased by $2.93 billion to $156.66 billion.
For the quarter, closed-end funds had net issuance of -$444 million, compared with net issuance of -$222 million in the second quarter of 2024.
There were 399 closed-end funds at the end of the third quarter. Bond funds numbered 253, and equity funds totaled 146. There were 406 closed-end funds in the second quarter of 2024.
Value of Shares Issued and Redeemed by All Closed-End Funds
Millions of dollars
| 2024: Q3 | 2024: Q2 | 2023 | 2022 | |
|
Gross Issuance |
1.234 | 188 | 957 | 1,232 |
|
Gross Redemptions |
1,678 | 410 | 1,796 | 1,721 |
|
Net Issuance |
-444 | -222 | -839 | -489 |
Note: Components may not add to the total because of rounding.
Number of Closed-End Funds by Type
| 2024: Q3 | 2024: Q2 | 2023 | |
|
Equity |
146 | 148 | 154 |
|
Domestic |
89 | 90 | 95 |
|
Global |
57 | 58 | 59 |
|
Bond |
253 | 258 | 259 |
|
Domestic Taxable |
112 | 116 | 117 |
|
Domestic Municipal |
111 | 111 | 111 |
|
Global |
30 | 31 | 31 |
|
Total |
399 | 406 | 413 |