From Investment Company Institute

The summary presents results of a 1998 telephone survey with 3000 randomly selected U.S. households. The report describes closed-end fund owners in considerable detail. An estimated 2.3 million, or 2.3 percent, of all U.S. households owned closed-end funds in 1998. The typical closed-end fund owner had $12,000 invested in two closed-end funds. The two most frequently held closed-end funds were domestic equity funds and high yield bonds. Thirty-seven percent of closed-end fund owners bought or received their first closed-end funds before 1990. Eighty-one percent also owned mutual funds. Click here to review the entire report.

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