- Last Ratings Update:10/31/2015
- Price as of 10/31/2015 :$15.49
- Net Assets:$139.03 Million
- Peer Rank:29 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 poor start in the last year. The THL Credit Senior Loan has returned an annual rate of -4.54% since inception. More recently, the fund has generated a total return of -3.36% in the last year, -17.26% in the last six months, and -4.83% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 39% of them for the period ending 10/31/2015. On a year to date basis, TSL has returned -3.00%.
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 13.0%. This fund has had moderate volatility in its monthly performance over the last 12 months. As of 10/31/2015, the fund was trading at a price of $15.49, which is 17.5% below its 52-week high of $13.18 and 100.1% 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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