Closed-End Fund Assets and Net Issuance
Washington, DC, June 3, 2026—The combined assets of the nation’s closed-end funds were $253.31 billion at the end of March 2026 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
| 2026: Q1 | 2025: Q4 | 2024 | |
| Equity | 112,024 | 112,175 | 104,086 |
|
Domestic |
83,523 | 83,043 | 78,294 |
|
Global |
28,501 | 29,132 | 25,793 |
| Bond | 141,281 | 144,531 | 147,047 |
|
Domestic Taxable |
53,707 | 54,981 | 55,520 |
|
Domestic Municipal |
68,312 | 69,820 | 74,361 |
|
Global |
19,263 | 19,731 | 17,166 |
| Total | 253,305 | 256,706 | 251,133 |
Note: Components may not add to the total because of rounding.
Highlights: Total closed-end fund assets decreased $3.4 billion during the first quarter. Equity fund assets decreased by $151 million to $112.02 billion, and bond fund assets decreased by $3.25 billion to $141.28 billion.
For the quarter, closed-end funds had net issuance of $516 million, compared with net issuance of $619 million in the fourth quarter of 2025.
There were 347 closed-end funds at the end of the first quarter. Bond funds numbered 212, and equity funds totaled 135. There were 364 closed-end funds in the fourth quarter of 2025.
Value of Shares Issued and Redeemed by All Closed-End Funds
Millions of dollars
| 2026: Q1 | 2025: Q4 | 2024 | 2023 | |
| Gross Issuance | 716 | 715 | 1,714 | 915 |
| Gross Redemptions | 200 | 95 | 3,202 | 1,796 |
| Net Issuance | 516 | 619 | -1,488 | -881 |
Note: Components may not add to the total because of rounding.
Number of Closed-End Funds by Type
| 2026: Q1 | 2025: Q4 | 2024 | |
| Equity | 135 | 137 | 148 |
|
Domestic |
80 | 82 | 90 |
|
Global |
55 | 55 | 58 |
| Bond | 212 | 227 | 245 |
|
Domestic Taxable |
103 | 103 | 109 |
|
Domestic Municipal |
81 | 96 | 109 |
|
Global |
28 | 28 | 27 |
| Total | 347 | 364 | 393 |