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| Purchase
Mutual Funds Print
this page (PDF) |
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| March 31, 2008 |
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| Symbol |
PYLMX |
| NAV($) |
$9.45 |
| Daily NAV
change ($) |
$0.00 |
| YTD Return |
-0.11% |
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| Year to date** |
-0.85% |
| 1 Year trailing |
-0.17% |
| 3 Year trailing |
2.55% |
| 5 Year trailing |
2.00% |
| 10 Year trailing |
3.50% |
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| 1995 |
7.08% |
| 1996 |
5.14% |
| 1997 |
5.46% |
| 1998 |
5.83% |
| 1999 |
4.69% |
| 2000 |
7.00% |
| 2001 |
6.21% |
| 2002 |
2.40% |
| 2003 |
1.22% |
| 2004 |
1.08% |
| 2005 |
2.55% |
| 2006 |
4.52% |
| 2007 |
1.97% |
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| Inception Date |
5/2/94 |
| Total net assets |
$116.53
mil |
| Effective duration |
0.38
years |
| Average credit |
AA+ |
| Capital gains
paid |
Annually |
| Dividends paid |
Monthly |
| Last distribution |
$0.026* |
| SEC yield |
8.59% |
| Min. Purchase |
$5,000 |
| Min. Purchase
(IRA) |
$2,000 |
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| Total Fund Operating
Expenses |
0.55% |
| Fee Waiver or
Expense Reimbursement |
0.05% |
| Net Annual Fund
Operating Expenses |
0.50%* |
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*The Adviser has contractually
agreed to limit Net Annual Fund Operating Expenses (excluding
interest and taxes) to 0.50%. This agreement has a one-year
term, renewable annually February 27. |
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Invests in investment
quality, short-term securities
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High average credit
quality
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Low annual expense
ratio
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Seeks to earn
a higher yield than a traditional money market
fund
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Free, unlimited
checkwritingA
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No loads or 12b1-fees | |
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| The Payden Limited Maturity Fund
seeks to outperform current money market rates by investing
in high quality short-term securities, called ultrashort
bonds, while minimizing share price fluctuation. The
fund is comprised of US Government securities, investment-grade
corporate bonds, mortgage/asset-backed securities and
money markets. |
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| Ultra short-term bond -Appropriate
for investors that desire a high degree of liquidity and
yields that are above those of money market funds, but can
tolerate minimal short-term fluctuations in the net asset
value (NAV). |
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*The Adviser has contractually
agreed to limit Net Annual Fund Operating Expenses (excluding
interest and taxes) to 0.50%. This agreement has a one-year
term, renewable annually February 27. |
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| The Payden Limited Maturity Fund
seeks higher yields and income than traditional short-term
investments such as money market funds. However, net
asset value is not held at $1.00. |
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| The capital markets
experienced stress and dislocation throughout the first
quarter as banks and brokerage firms struggled to deal
with a funding crisis brought on by deleveraging and
a global flight-to-quality ensued. The Federal Reserve
aggressively lowered interest rates and continued to
provide funding vehicles for market participants in
an effort to alleviate the stresses. The Payden Limited
Maturity Fund was not immune to these stresses, and
the non-Treasury securities held within the fund had
a negative impact on performance.
We reduced the fund’s
asset-backed securities holdings and redeployed those
assets into US Treasury and Agency securities as well
as corporate bonds. The funds Treasury and agency holdings
provided positive returns during the quarter as interest
rates fell sharply during the period. |
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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
- E*TRADE
- Fidelity Funds Network
- Linsco Private 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. A money market fund attempts
to preserve the net asset value at $1.00 per share, while
the Limited Maturity Bond Fund does not explicitly seek
this objective. The Paydenfunds are distributed through
Payden & Rygel Distributors, member FINRA. |
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