- Last Ratings Update:10/31/2013
- Price as of 10/31/2013 :$11.29
- Net Assets:$230.41 Million
- Peer Rank:85 of 115
- 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
New Fund off to poor start in the last year. The GAMCO Nat Res Gold & Income Trust has returned an annual rate of -9.27% since inception. More recently, the fund has generated a total return of -18.65% in the last year, -7.16% in the last six months, and 1.19% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 9% of them for the period ending 10/31/2013. On a year to date basis, GNT has returned -8.58%.
Downside risk has been above average. GNT has a draw down risk of -49.93%, which is the largest price decline experienced since the inception of the fund. This fund has a one year standard deviation of 24.8%. This fund has experienced a high level of volatility in its monthly performance over the last 12 months. As of 10/31/2013, the fund was trading at a price of $11.29, which is 3.3% below its 52-week high of $11.67 and 4.5% above its 52-week low of $10.80.
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 2% of other fund managers.
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