- Last Ratings Update:01/31/2014
- Price as of 01/31/2014 :$10.06
- Net Assets:$230.41 Million
- Peer Rank:94 of 118
- Investment Rating:E+
We rate GAMCO Nat Res Gold & Income Trust at E+. Negative factors that influence this rating include a well below average total return. The fund may be considered for investors seeking a Sector - Energy/Natural Res strategy.
POSITIVES AND RISKS
Total return ranks well below peers over the last three years. The GAMCO Nat Res Gold & Income Trust has returned an annual rate of -11.02% since inception. More recently, the fund has generated a total return of -11.85% in the last three years, -21.39% in the last year, and -6.52% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 9% of them. It has also outpaced 9% of its competitors on a one year basis for the period ending 1/31/2014. On a year to date basis, GNT has returned 1.29%.
Downside risk has been above average. GNT has a draw down risk of -51.99%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 24.6%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months. As of 1/31/2014, the fund was trading at a price of $10.06, which is 2.4% below its 52-week high of $10.31 and 0.7% above its 52-week low of $9.99.
High expense ratio hinders performance. On total assets of $230.42 million, GNT maintains a high expense ratio compared to its Sector - Energy/Natural Res peers of 1.21% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As GNT is a closed end fund, it has no front end or back end load.
Manager lacks tenure and performance record lags managerial peers. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The GAMCO Nat Res Gold & Income Trust has been managed by CAESAR M.P. BRYAN for only 3 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than just 11% of other fund managers.
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