- Last Ratings Update:10/31/2013
- Price as of 10/31/2013 :$13.82
- Net Assets:$85 Million
- Peer Rank:54 of 107
- Investment Rating:C-
We rate Western Asset Municipal Partners at C-. Positive factors that influence this rating include a low price volatility and low expense structure. The fund invests approximately 99% of its assets in bonds and may be considered for investors seeking a Municipal - National strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The Western Asset Municipal Partners has returned an annual rate of 5.46% since inception. More recently, the fund has generated a total return of 11.24% in the last five years, 3.67% in the last three years, and -18.19% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 68% of them. It has also outpaced 49% of its competitors on a three year basis and 9% of them over the last year for the period ending 10/31/2013. On a year to date basis, MNP has returned -17.28%.
Downside risk has been below average. MNP has a draw down risk of -27.43%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 12.5%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 10/31/2013, the fund was trading at a price of $13.82, which is 1.0% below its 52-week high of $13.96 and 3.4% above its 52-week low of $13.37.
Low expense ratio helps performance. On total assets of $85.00 million, MNP maintains a low expense ratio compared to its Municipal - National peers of just 1.13% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As MNP is a closed end fund, it has no front end or back end load.
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