Trina Solar Ltd

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TSL : NYSE : Technology
$8.46 -0.29 | -3.30%
Today's Range: 8.28 - 8.75
Avg. Daily Volume: 1,724,600
07/28/16 - 10:54 AM ET
  • Last Ratings Update:06/30/2016
  • Price as of 06/30/2016 :$16.08
  • Net Assets:$127.95 Million
  • NAV:$17.69
  • Premium-9.1%
  •   
  • Peer Rank:28 of 30
  • Investment Rating:C-
  • Performance:C+
  • RiskC-
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SUMMARY


We rate THL Credit Senior Loan at C-. Positive factors that influence this rating include a low price volatility. 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 0.09% since inception. More recently, the fund has generated a total return of 3.40% in the last year, 5.73% in the last six months, and 6.36% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 63% of them for the period ending 6/30/2016. On a year to date basis, TSL has returned 5.73%.

Downside risk has been above average. TSL has a draw down risk of -56.66%, which is the largest price decline experienced since the inception of the fund. This fund has a one year standard deviation of 14.3%. This fund has had moderate volatility in its monthly performance over the last 12 months. As of 6/30/2016, the fund was trading at a price of $16.08, which is 39.5% below its 52-week high of $11.53 and 131.0% above its 52-week low of $6.96.

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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