Trina Solar LtdFind Ratings Reports
- Last Ratings Update:04/30/2017
- Price as of 04/30/2017 :$18.55
- Net Assets:$138.26 Million
- Peer Rank:11 of 30
- Investment Rating:C
We rate THL Credit Senior Loan at C. Positive factors that influence this rating include a greater than 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 above peers over the last three years. The THL Credit Senior Loan has returned an annual rate of 5.90% since inception. More recently, the fund has generated a total return of 9.10% in the last three years, 24.91% in the last year, and 15.03% in the last six months. How does that compare to other equity funds? In the last three years, it has outperformed 72% of them. It has also outpaced 86% of its competitors on a one year basis for the period ending 4/30/2017. On a year to date basis, TSL has returned 1.31%.
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 13.2%. This fund has had moderate volatility in its monthly performance over the last 36 months. As of 4/30/2017, the fund was trading at a price of $18.55, which is 1.2% below its 52-week high of $18.77 and 19.2% above its 52-week low of $15.56.
High expense ratio hinders performance. On total assets of $138.26 million, TSL maintains a high expense ratio compared to its Loan Participation peers of 2.65% 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.