Trina Solar LtdFind Ratings Reports
- Last Ratings Update:08/31/2016
- Price as of 08/31/2016 :$16.45
- Net Assets:$127.95 Million
- Peer Rank:7 of 30
- Investment Rating:C-
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 1.31% since inception. More recently, the fund has generated a total return of 9.35% in the last year, 15.47% in the last six months, and 3.53% in the last three months. How does that compare to other equity funds? In the last year, it has outperformed 41% of them for the period ending 8/31/2016. On a year to date basis, TSL has returned 8.86%.
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 14.2%. This fund has had moderate volatility in its monthly performance over the last 12 months. As of 8/31/2016, the fund was trading at a price of $16.45, which is 46.4% below its 52-week high of $11.24 and 136.4% 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.