Trina Solar LtdFind Ratings Reports
- Last Ratings Update:09/30/2016
- Price as of 09/30/2016 :$16.49
- 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
Total return ranks below peers over the last three years. The THL Credit Senior Loan has returned an annual rate of 1.57% since inception. More recently, the fund has generated a total return of 1.23% in the last three years, 17.88% in the last year, and 11.08% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 33% of them. It has also outpaced 70% of its competitors on a one year basis for the period ending 9/30/2016. On a year to date basis, TSL has returned 10.42%.
Downside risk has been above average. TSL has a draw down risk of -56.66%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 12.9%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 9/30/2016, the fund was trading at a price of $16.49, which is 46.7% below its 52-week high of $11.24 and 136.9% 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.