GAMCO Natural Resources Gold & Income TrustFind Ratings Reports
- Last Ratings Update:06/30/2016
- Price as of 06/30/2016 :$7.70
- Net Assets:$135.91 Million
- Peer Rank:18 of 121
- Investment Rating:C-
We rate GAMCO Nat Res Gold & Income Trust at C-. Positive factors that influence this rating include a low price volatility and low expense structure. The fund may be considered for investors seeking a Sector - Energy/Natural Res strategy.
POSITIVES AND RISKS
Total return ranks below peers over the last three years. The GAMCO Nat Res Gold & Income Trust has returned an annual rate of -5.99% since inception. More recently, the fund has generated a total return of -5.44% in the last five years, 2.65% in the last three years, and 20.60% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 18% of them. It has also outpaced 38% of its competitors on a three year basis and 86% of them over the last year for the period ending 6/30/2016. On a year to date basis, GNT has returned 48.18%.
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 27.1%. This fund has experienced excessive volatility in its monthly performance over the last 36 months. As of 6/30/2016, the fund was trading at a price of $7.70, which is 3.8% below its 52-week high of $8.00 and 8.6% above its 52-week low of $7.09.
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 lacks tenure but performance is a net positive. 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 only 5 years. Over that period, the manager was able to capture more actual gains in excess of the expected return than 86% of other fund managers.