US Closed-End Funds Worth $254.44 Billion At December 2004, Says ICI

The combined assets of closed end funds in the US were worth $254.44 billion at the end of December 2004, the Investment Company Institute reported this week. Total closed end fund assets increased $10.84 billion during the fourth quarter, according

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The combined assets of closed-end funds in the US were worth $254.44 billion at the end of December 2004, the Investment Company Institute reported this week.

Total closed-end fund assets increased $10.84 billion during the fourth quarter, according to the Institute. Equity fund assets increased by $7.17 billion to $81.40 billion, and bond fund assets increased by $3.66 billion to $173.04 billion.

ICI’s data collection also includes the value of new proceeds invested in closed-end funds and the total number of funds. For the quarter, proceeds to closed-end funds were $4.89 billion, compared with $3.14 billion in the third quarter of 2004. There were 620 closed-end funds as of year-end 2004. Bond funds totalled 463, and equity funds totalled 157. There were 586 closed-end funds at year-end 2003, and 545 funds at year-end 2002.

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