Fuse Blog

Rise of Listed Closed- End Funds

  • Midway through the year, listed closed-end funds have raised $9.9 billion through 6 IPOs.
  • The capital raise reinforces the value of the structure for offering uniqure strategies and also importance of the issuing manager covering the distribution costs (allowing the products to be used in advisory accounts).
  • The IPOs have been a mix of thematic equity funds and credit funds. BlackRock’s Innovation and Growth Trust (BIGZ) has raised the most assets ($4.4B) this year. 
  • From 2001-2010, the annual average assets by raised closed-end IPOs was $15 billion.



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