- Last Ratings Update:03/31/2014
- Price as of 03/31/2014 :$27.31
- Net Assets:$1,057 Million
- Peer Rank:56 of 119
- Investment Rating:D+
We rate Kayne Anderson Energy Tot Ret at D+. Negative factors that influence this rating include a high expense structure. The fund invests approximately 87% of its assets in stocks and may be considered for investors seeking a Sector - Energy/Natural Res strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The Kayne Anderson Energy Tot Ret has returned an annual rate of 9.37% since inception. More recently, the fund has generated a total return of 24.92% in the last five years, 3.33% in the last three years, and -0.40% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 89% of them. It has also outpaced 33% of its competitors on a three year basis and 37% of them over the last year for the period ending 3/31/2014. On a year to date basis, KYE has returned -0.29%.
Downside risk has been below average. KYE has a draw down risk of -24.72%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 18.8%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months. As of 3/31/2014, the fund was trading at a price of $27.31, which is 0.9% below its 52-week high of $27.57 and 2.4% above its 52-week low of $26.66.
High expense ratio hinders performance. On total assets of $1.06 billion, KYE maintains a high expense ratio compared to its Sector - Energy/Natural Res peers of 2.73% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As KYE is a closed end fund, it has no front end or back end load.
Manager tenure and performance record are net positives. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The Kayne Anderson Energy Tot Ret has been managed by John C. Frey for the last 9 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 61% of other fund managers.
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