Trina Solar LtdFind Ratings Reports
- Last Ratings Update:12/31/2016
- Price as of 12/31/2016 :$18.74
- Net Assets:$127.95 Million
- Peer Rank:28 of 29
- Investment Rating:C-
We rate THL Credit Senior Loan at C-. Positive factors that influence this rating include a well above average total return and low price volatility. The fund may be considered for investors seeking a Loan Participation strategy.
POSITIVES AND RISKS
Total return ranks very high in comparison with peers over the last three years. The THL Credit Senior Loan has returned an annual rate of 6.11% since inception. More recently, the fund has generated a total return of 9.08% in the last three years, 27.82% in the last year, and 20.84% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 75% of them. It has also outpaced 90% of its competitors on a one year basis for the period ending 12/31/2016. On a year to date basis, TSL has returned 27.82%.
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 12.7%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 12/31/2016, the fund was trading at a price of $18.74, which is 70.4% below its 52-week high of $11.00 and 169.3% 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.