- Last Ratings Update:09/30/2014
- Price as of 09/30/2014 :$36.53
- Net Assets:$297.3 Million
- Peer Rank:82 of 120
- Investment Rating:D-
We rate Kayne Anderson Engy Development Co at D-. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a high expense structure. The fund invests approximately 82% of its assets in stocks and 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 Kayne Anderson Engy Development Co has returned an annual rate of 12.37% since inception. More recently, the fund has generated a total return of 7.10% in the last five years, -5.36% in the last three years, and -48.15% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 39% of them. It has also outpaced 11% of its competitors on a three year basis and 0% of them over the last year for the period ending 9/30/2014. On a year to date basis, KED has returned -47.93%.
Downside risk has been below average. KED has a draw down risk of -11.45%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 18.6%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months. As of 9/30/2014, the fund was trading at a price of $36.53, which is 5.6% below its 52-week high of $38.70 and 2.8% above its 52-week low of $35.55.
High expense ratio hinders performance. On total assets of $297.30 million, KED maintains a high expense ratio compared to its Sector - Energy/Natural Res peers of 2.89% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As KED is a closed end fund, it has no front end or back end load.
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