From the May 2007 issue of Boomer Market Advisor • Subscribe!

Assets of closed-end funds rise

Following overall mutual fund trends in the current economy, the Investment Company Institute reports that the combined assets of the nation's closed-end funds were $298.32 billion at year-end 2006. Total closed-end fund assets increased $11.24 billion during the fourth quarter. Equity fund assets increased by $10.29 billion to $121.29 billion, and bond fund assets increased by $951 million to $176.56 billion.

ICI's data collection also includes the value of new proceeds invested in closedend funds and the total number of funds. For the quarter, proceeds to closed-end funds were $7 billion, compared with $1.02 billion in the third quarter. There were 646 closed-end funds at the end of the quarter. Bond funds numbered 444, and equity funds totaled 202. There were 633 closed-end funds at year-end 2005.

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