Closed End Funds

The History of Closed End Funds

Closed end funds began over a century ago. Today there are more than 600 closed end funds, some of which have management and performance histories that date back 50 years and more.

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The combined assets of U.S. closed end funds were $285.82 billion at the end of September 2006, according to the Investment Company Institute in a quarterly statistical collection of closed end funds. The report also noted that total closed end fund assets increased $5.65 billion during the third quarter -- equity fund assets increased by $3.47 billion to $110.42 billion, and bond fund assets increased by $2.19 billion to $175.39 billion.