- Last Ratings Update:04/30/2015
- Price as of 04/30/2015 :$19.05
- Net Assets:$139.03 Million
- Peer Rank:28 of 28
- Investment Rating:D+
We rate THL Credit Senior Loan at D+. Negative factors that influence this rating include a high price volatility and high expense structure. The fund may be considered for investors seeking a Loan Participation strategy.
POSITIVES AND RISKS
New Fund off to good start in the last year. The THL Credit Senior Loan has returned an annual rate of 4.50% since inception. More recently, the fund has generated a total return of 15.99% in the last year, 16.80% in the last six months, and 17.58% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 83% of them for the period ending 4/30/2015. On a year to date basis, TSL has returned 17.23%.
Downside risk has been above average. TSL has a draw down risk of -49.33%, which is the largest price decline experienced since the inception of the fund. This fund has a one year standard deviation of 8.9%. This fund has had very little volatility in its monthly performance over the last 12 months. As of 4/30/2015, the fund was trading at a price of $19.05, which is 31.3% below its 52-week high of $14.51 and 146.1% above its 52-week low of $7.74.
High expense ratio hinders performance. On total assets of $139.03 million, TSL maintains a high expense ratio compared to its Loan Participation peers of 2.38% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As TSL is a closed end fund, it has no front end or back end load.
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