SEC Staff Publish New Registered Fund Statistics Report

Who may be interested: Registered Investment Companies; Boards of Directors; Investment Advisers 

Quick Take: The staff of the SEC’s Division of Investment Management (“Staff”) has published a new report entitled Registered Fund Statistics (the “Report”). The Report will be updated quarterly and provides statistics about registered investment companies that file monthly portfolio holdings on Form N-PORT. The Report describes trends related to portfolio holdings, flows and returns, interest rate risk, and other exposures across U.S. mutual funds, exchange-traded funds, closed-end funds, and other registered funds.

The Report is the first aggregated report that covers statistics relating to public and non-public information filed on Form N-PORT and Form N-CEN. The Report covers filings made for reporting periods between March 2019 and September 2023. The statistics contained in the Report are also available to the public in a structured format, which will provide the historical statistical series of information with each publication of the Report. The Report contains over 70 tables providing data and historical trends on the following topics:

i. Number of funds;

ii. Total fund assets;

iii. Flows and returns;

iv. Fund portfolio investments by category, currency and country;

v. Fund derivative investments;

vi. Liquidity classifications;

vii. Fair value levels;

viii. Interest rate risk;

ix. Securities lending; and

x. Borrowing.

For example, the Report states that, as of September 2023, the registered fund industry was comprised of more than 12,000 funds with total assets of over $26 trillion, with non-index funds holding approximately $13.96 trillion in total assets and index funds holding approximately $12.2 trillion in total assets. Further, of the over $26 trillion in assets, $18.53 trillion was held by mutual funds, $7.19 trillion was held by ETFs and $429 billion was held by closed-end funds.

The Report is available here.