Closed-end fund assets fall to $188.42B
Assets in closed-end mutual funds dropped to $188.42 billion at the end of 2008, from $314.94 billion at the end of the previous year.
Assets in closed-end mutual funds dropped to $188.42 billion at the end of 2008, from $314.94 billion at the end of the previous year, according to data released Friday by the Investment Company Institute of Washington.
Total closed-end fund assets decreased $44.05 billion during the fourth quarter, according to the ICI. Equity fund assets decreased by $25.74 billion, to $76.18 billion, and bond fund assets decreased by $18.32 billion, to $112.24 billion.
The total number of closed-end funds fell to 646 at the end last year, from 664 at year-end 2007.
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