The combined assets of the closed-end funds in the US were $149.61 billion at the end of the third quarter of 2002, the Investment Company Institute reported today in a quarterly statistical collection of closed-end funds.
Total closed-end fund assets increased $3.00 billion during the third quarter, according to the Institute. Equity fund assets decreased by $461 million to $30.37 billion, and bond fund assets increased by $3.46 billion to $119.24 billion.
The Institute’s quarterly statistical collection also includes the value of net new proceeds invested in closed-end funds and the total number of funds. For the quarter, net proceeds to closed-end funds were $5.62 billion, compared with $5.02 billion in the second quarter. There were 527 closed-end funds at the end of the third quarter. Bond funds totaled 409, and equity funds totaled 118. There were 514 closed-end funds at the end of the second quarter, and 530 closed-end funds at year-end 2001.