Macquarie First Trust Global
Find Ratings Reports- Last Ratings Update:02/29/2024
- Price as of 02/29/2024 :$7.48
- Net Assets:$74.89 Million
- NAV:$8.56
- Premium-12.62%
- Peer Rank:166 of 298
- Investment Rating:C-
- Performance:C-
- RiskB-
We rate Macquarie/FTG Infr/ Util Div&Inc at C-. Positive factors that influence this rating include a low price volatility. The fund invests approximately 76% of its assets in stocks and may be considered for investors seeking a Global Equity strategy.
Total return ranks below peers over the last three years. The Macquarie/FTG Infr/ Util Div&Inc has returned an annual rate of 4.55% since inception. More recently, the fund has generated a total return of 1.57% in the last five years, 2.44% in the last three years, and 1.44% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 23% of them. It has also outpaced 48% of its competitors on a three year basis and 16% of them over the last year for the period ending 2/29/2024. On a year to date basis, MFD has returned -2.28%.
Downside risk has been below average. MFD has a draw down risk of -32.52%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 21.4%. This fund has experienced a high level of volatility in its monthly performance over the last 36 months.
High expense ratio hinders performance. On total assets of $74.89 million, MFD maintains a high expense ratio compared to its Global Equity peers of 4.01% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As MFD 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 Macquarie/FTG Infr/ Util Div&Inc has been managed by Adam H. Brown for the last 13 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 50% of other fund managers.