A Brief Overview of the Closed-End Fund Industry
In our first volume we present an abbreviated history of the development of closed-end funds (CEICs), touching several of the pioneering organizations. Here, we provide a brief overview of the closed-end fund industry in the United States. We attempt this via a brief history and some statistics about CEICs currently existing. We caution that some information prior to 1950 is difficult to obtain. In addition, organizations that were once considered “funds” or “trusts” would no longer be considered as such under the Investment Company Act of 1940 or its 1950 amendments. We have made every effort to be accurate in the compilation of the following data.
KeywordsInvestment Company Debt Security Chartered Organization Bond Fund World Income
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