- Last Ratings Update:03/31/2016
- Price as of 03/31/2016 :$15.87
- Net Assets:$127.95 Million
- Peer Rank:30 of 30
- Investment Rating:D
We rate THL Credit Senior Loan at D. Negative factors that influence this rating include a 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 -1.20% since inception. More recently, the fund has generated a total return of -10.57% in the last year, 6.12% in the last six months, and -0.59% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 27% of them for the period ending 3/31/2016. On a year to date basis, TSL has returned -0.59%.
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 16.6%. This fund has had moderate volatility in its monthly performance over the last 12 months. As of 3/31/2016, the fund was trading at a price of $15.87, which is 20.4% below its 52-week high of $13.18 and 104.8% above its 52-week low of $7.75.
High expense ratio hinders performance. On total assets of $127.96 million, TSL maintains a high expense ratio compared to its Loan Participation peers of 2.63% 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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