- Last Ratings Update:12/31/2015
- Price as of 12/31/2015 :$15.86
- Net Assets:$139.03 Million
- Peer Rank:28 of 29
- 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 -2.30% since inception. More recently, the fund has generated a total return of 0.58% in the last year, -2.20% in the last six months, and 6.75% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 64% of them for the period ending 12/31/2015. On a year to date basis, TSL has returned 0.58%.
Downside risk has been above average. TSL has a draw down risk of -50.17%, which is the largest price decline experienced since the inception of the fund. This fund has a one year standard deviation of 13.8%. This fund has had moderate volatility in its monthly performance over the last 12 months. As of 12/31/2015, the fund was trading at a price of $15.86, which is 20.3% below its 52-week high of $13.18 and 104.6% above its 52-week low of $7.75.
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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