GAMCO Natural Resources Gold & Income TrustFind Ratings Reports
- Last Ratings Update:08/31/2016
- Price as of 08/31/2016 :$7.35
- Net Assets:$135.91 Million
- Peer Rank:40 of 123
- Investment Rating:D
We rate GAMCO Nat Res Gold & Income Trust at D. Negative factors that influence this rating include a well below average total return. The fund may be considered for investors seeking a Sector - Energy/Natural Res strategy.
POSITIVES AND RISKS
Total return ranks well below peers over the last three years. The GAMCO Nat Res Gold & Income Trust has returned an annual rate of -6.29% since inception. More recently, the fund has generated a total return of -3.69% in the last five years, -2.98% in the last three years, and 44.55% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 17% of them. It has also outpaced 19% of its competitors on a three year basis and 96% of them over the last year for the period ending 8/31/2016. On a year to date basis, GNT has returned 45.58%.
Downside risk has been above average. GNT has a draw down risk of -55.92%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 26.5%. This fund has experienced excessive volatility in its monthly performance over the last 36 months. As of 8/31/2016, the fund was trading at a price of $7.35, which is 13.3% below its 52-week high of $8.48 and 0.3% above its 52-week low of $7.33.
High expense ratio hinders performance. On total assets of $135.91 million, GNT maintains a high expense ratio compared to its Sector - Energy/Natural Res peers of 1.36% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As GNT is a closed end fund, it has no front end or back end load.
Manager tenure is a net positive but performance record lags managerial peers. Substandard fund managers tend to be replaced, so a long tenure is usually a good sign that a fund is achieving its objectives. The GAMCO Nat Res Gold & Income Trust has been managed by Caesar M. P. Bryan for the last 6 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than just 44% of other fund managers.