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Rating:Fund Closures Down, Openings Stabilize Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, September 21, 2005

Fund Closures Down, Openings Stabilize

by: Theresa Sim

The number of mutual funds that have merged or liquidated has decreased, following the trend of recent years, according to data from the ICI.

The ICI reports that so far this year, 357 equity and bond funds have shuttered. That number was 516 in 2004, 696 in 2003, 663 in 2002 and 737 in 2001, reports Dow Jones.

The ICI numbers are in line with Standard & Poors data, which totaled 479 fund mergers in 2004, 781 mergers in 2003, 714 mergers in 2002 and 714 mergers in 2001. (See Fund Mergers Down in 2004.) According to S&P data, over the last ten years, fund mergers peaked in 2001 with 774, and have been falling since.

On the flip side of the equation, Strategic Insight reports that the number of fund openings this year remains steady. As of July of 2005, 215 funds came into the world, compared to 358 in 2004, 347 in 2003, and 417 in 2002.  

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