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| Purchase
Mutual Funds Print
this page (PDF) |
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| March 31, 2008 |
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| Symbol |
PYEMX |
| NAV($) |
$12.81 |
| Daily NAV
change ($) |
-$0.01 |
| YTD Return |
0.40% |
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Expense
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| Year to date** |
-1.16% |
| 1 Year trailing |
-0.76% |
| 3 Year trailing |
8.12% |
| 5 Year trailing |
9.69% |
| Since inception |
12.04% |
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| 1999 |
23.57% |
| 2000 |
12.48% |
| 2001 |
13.83% |
| 2002 |
9.76% |
| 2003 |
18.38% |
| 2004 |
13.14% |
| 2005 |
11.73% |
| 2006 |
10.22% |
| 2007 |
2.82% |
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| Inception
Date |
12/17/98 |
| Total net assets |
$118.76
mil |
| Effective duration |
7.8
years |
| Average maturity |
10.3
years |
| Average credit |
BB+ |
| Capital gains
paid |
Annually |
| Dividends paid |
Monthly |
| Last distribution |
0.080* |
| SEC yield |
5.86% |
Redemption Fee
(investments less than one month) |
2.00% |
| Non-US$
holdings |
23% |
| Min. Purchase |
$5,000 |
| Min. Purchase
(IRA) |
$2,000 |
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Bonds are primarily
denominated in U.S. dollars |
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Portfolio diversification
tool that can help reduce risk |
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Low expense ratio |
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No loads or 12b-1
fees |
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| The Payden Emerging Markets Bond
Fund invests in a diversified portfolio of emerging-market
sovereign and corporate bonds. The fund invests in countries
that demonstrate improving macro-economic and political
trends, and maintains geographic diversification across
Latin America, Europe and Asia. Most of our investments
are US dollar- denominated, but we also see excellent
and growing opportunities in certain local markets. |
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| Emerging-market bond-
Appropriate for investors with long investment time horizons
who seek diversification via sovereign and corporate bonds
issued by emerging-market countries. |
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Payden
Emerging
Markets Bond Fund |
Morningstar average:
Emerging Markets bond funds
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| Total Expense
ratio |
0.82% |
1.52% |
| Net Expense
ratio |
0.82% |
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| The emerging-market sector of the
fixed-income market has grown tremendously over the last
decade. It has been a top-performing asset class for
the past several years. As countries develop their economic
and political infrastructure and become more integrated
in global capital markets, their government and corporate
securities become more attractive investment vehicles. |
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Global credit market
volatility caused emerging market spreads to widen by
approximately 70 basis points over comparable Treasuries
in the first quarter of 2008. Concerns about the US subprime
mortgage market and its potential impact on the US financial
system and economic growth continued to weigh on all
credit markets. Despite aggressive emergency interest
rate cuts and liquidity measures implemented by the Federal
Reserve, the market remains dependent on global risk
sentiment. Local currency bonds also underperformed US
Treasuries, as inflation concerns across all regions
caused a sell-off in local rates. Emerging market currencies
rallied, however, supported by more hawkish central banks
and general US dollar weakness.
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800 572-9336 |
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Prospectus/Applications |
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Through the following
mutual fund marketplaces: |
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-
Ameritrade
- E*TRADE
- Fidelity FundsNetwork
- Harrisdirect
- Linsco Private Ledger
- Pershing
- TD Waterhouse Securities
- Trust Company of America
- Schwab One Source |
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Quoted performance data represent
past performance, which does not guarantee future results.
Investment returns and principal value will fluctuate, so
investors’ shares, when sold, may be worth more or
less than their original cost. For the most recent month-end
performance, which may be higher or lower than that quoted,
visit our Web site at payden.com or call 800 572-9336.
For more information and to obtain a prospectus, visit
our Web site at payden.com or call 800 572-9336. Before
investing, investors should consider investment objectives,
risks, charges, expenses and other important information,
which are contained in this document; read the prospectus
carefully before investing. Investment in foreign securities
offers different rewards and challenges from investing
in domestic securities, including changes in exchange rates,
political changes, and differences in reporting standards,
and for emerging-market securities, higher volatility.
The Paydenfunds are distributed through Payden & Rygel
Distributors, member FINRA. |
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