Total closed-end fund assets increased $1.61B during the second quarter. Equity fund assets decreased by $1.5B to $96.21B, and bond fund assets increased by $3.11B to $153.39B, according to the Investment Company Institute.
There were 630 closed-end funds at the end of the second quarter, compared to 632 at year-end 2011. Bond funds numbered 420 and equity funds totaled 210 at the end of the quarter, the ICI reported.
The largest bond fund category was domestic municipal, with $86.51B in assets, followed by domestic taxable with $51.58B in assets, and global bond funds, with $15.29B in assets, according to the ICI.
Domestic equity funds had $65.14B in assets and global equity funds had $31.06B in assets.
For the quarter, there was $3.31B in proceeds to closed-end funds, compared with $1.89B in the first quarter, the ICI said.