A closed-end fund, a type of investment company, generally issues a fixed number of shares that are listed on a stock exchange or traded in the over-the-counter market. The assets of a closed-end fund are professionally managed in accordance with the fund’s investment objectives and policies, and may be invested in stocks, bonds, and other securities.
Background on Closed-End Funds
A Guide to Closed-End Funds
Closed-End Funds and Their Use of Leverage: FAQs
Consider This: Interval Fund Operational Practices (pdf)
Recommendations Regarding the Availability of Closed-End Fund Takeover Defenses (pdf)
Interval Funds: Operational Challenges and the Industry’s Way Forward (pdf)
US Household Ownership of Closed-End Funds in 2001 (pdf)
The Closed-End Fund Market, 2022
Total closed-end fund assets were $252 billion at year-end 2022—a decrease of 19 percent from their level at year-end 2021, primarily driven by sharp downturns in both equity and bond markets.