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| Purchase
Mutual Funds Print
this page (PDF) |
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| March 31, 2008 |
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| Symbol |
PYVLX |
| NAV($) |
$10.17 |
| Daily NAV
change ($) |
-$0.17 |
| YTD Return |
-19.68% |
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| Year to date** |
-10.90% |
| 1 Year trailing |
-10.19% |
| 3 Year trailing |
4.60% |
| 5 Year trailing |
9.89% |
| Since inception |
2.49% |
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| 1997 |
26.92% |
| 1998 |
18.09% |
| 1999 |
12.34% |
| 2000 |
-5.11% |
| 2001 |
-10.41% |
| 2002 |
-14.05% |
| 2003 |
21.05% |
| 2004 |
9.57% |
| 2005 |
-0.16% |
| 2006 |
21.88% |
| 2007 |
2.16% |
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| Inception
Date |
11/1/96 |
| Total net assets |
$63.98
mil |
| Beta (to S&P
500) |
0.9x |
| Wgtd.
Avg. Market Cap |
$95.40
bil |
| Price-to-book |
1.5x |
| Price-to-cashflow |
7.1x |
| Price-to-earnings
(fwd) |
11.6x |
| Capital gains
paid |
Annually |
| Dividends
Yield |
Semi-annually |
| Dividend
Paid |
2.8% |
| Last Distribution |
$0.120* |
Redemption Fee
(investments less than one month) |
2.00% |
| Min. Purchase |
$5,000 |
| Min. Purchase
(IRA) |
$2,000 |
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* Total Annual Fund Operating Expenses include all direct
operating expenses of the Fund, as well as 0.11% of fees
and expenses incurred indirectly by the Fund through
its investment in other mutual funds. The Adviser has contractually
agreed that, for so long as it is the investment adviser
to the Fund, direct Total Annual Fund Operating Expenses
(excluding interest and taxes) will not exceed 0.80%. |
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Capital price appreciation
potential due to a growing economy and attractive
valuations |
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Portfolio holdings
generally pay above average dividends |
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| The Payden Value Leaders Fund invests
in some of the largest US companies, focusing on bluechip
stocks that appear to be undervalued. These stocks generally
have lower price-to-book ratios and lower price-to-earnings
ratios than the overall stock market. |
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| Large-cap value-
Appropriate for conservative equity investors who seek exposure
to large-capitalization value stocks. |
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*
Total Annual Fund Operating Expenses include all direct operating
expenses of the Fund, as well as 0.11% of fees and expenses
incurred indirectly by the Fund through its investment
in other mutual funds. The Adviser has contractually
agreed that, for so long as it is the investment adviser
to the Fund, direct Total Annual Fund Operating Expenses
(excluding interest and taxes) will not exceed 0.80%.
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| Value stocks should continue to
perform with the support of dividends by large
cap companies. |
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The equity markets suffered
its worst quarterly loss since 2002 due to concerns of
an economic slowdown and continuing problems in the credit
markets. The financial sector, in particular, was one
of the hardest hit as further writedowns in subprime
mortgages and concerns of the financial ability of bond
insurers to meet their obligations took the sector lower.
Throughout the quarter, the Fed tried to accommodate
the markets by lowering interest rates. However, these
actions failed to give support to the markets, culminating
in the near collapse of Wall Street broker Bear Stearns.
Despite all of the negative news, commodity related stocks
performed relatively well as oil prices reached above
$100 and gold traded above $1000 during the quarter.
The best performing sector was materials
and the worst performing sector was information technology.
In terms of style, value stocks outperformed growth stocks.
The fund’s best performers for the quarter were steel
producer Nucor Corporation and oil exploration company
Apache Corporation. |
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| Exxon Mobil |
5.9% |
| General Electric |
5.0% |
| AT7T Inc. |
3.9% |
| Chevron Corp. |
3.8% |
| Procter & Gamble |
3.3% |
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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
- Datalynx
- Fidelity FundsNetwork
- Harrisdirect
- Linsco Pivate Ledger
- Pershing
- TD Waterhouse Securities
- Trust Company of America
- Schwab One Source
- Vanguard |
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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. The Paydenfunds are distributed
through Payden & Rygel Distributors, member FINRA. |
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