- Last Ratings Update:08/31/2014
- Price as of 08/31/2014 :$38.16
- Net Assets:$1,229.47 Million
- Peer Rank:39 of 284
- Investment Rating:A-
We rate General American Investors at A-. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Positive factors that influence this rating include a well above average total return, low price volatility and low expense structure. The fund invests approximately 100% of its assets in stocks and may be considered for investors seeking a Growth - Domestic strategy.
POSITIVES AND RISKS
Total return ranks very high in comparison with peers over the last three years. The General American Investors has returned an annual rate of 13.71% since inception. More recently, the fund has generated a total return of 14.67% in the last five years, 23.02% in the last three years, and 21.09% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 71% of them. It has also outpaced 85% of its competitors on a three year basis and 65% of them over the last year for the period ending 8/31/2014. On a year to date basis, GAM has returned 8.44%.
Downside risk has been below average. GAM has a draw down risk of -8.25%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 14.8%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 8/31/2014, the fund was trading at a price of $38.16, which is 0.3% below its 52-week high of $38.27 and 5.7% above its 52-week low of $36.10.
High expense ratio hinders performance. On total assets of $1.23 billion, GAM maintains a high expense ratio compared to its Growth - Domestic peers of 1.27% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As GAM is a closed end fund, it has no front end or back end load.
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