Loading...
NAV / Daily Prices
NAV (¥)
1010.99
NAV Change (¥)
0.16
Statistics
Hedged Yield to Maturity
3.76%
Effective Duration
1.59 Years
Average Maturity
5.74 Years
Average Fund Credit Rating
BB
Number of Issuers
161
Expenses
Management Fee
0.50%
Maximum Total Expense Ratio (TER) Capped at
0.55%
Initial Charge
NONE
Redemption Fee
NONE
ICE BofA TONAR Overnight Rate Index
| Total Returns | Month-End (31 May 2026) | ICE BofA TONAR Overnight Rate Index |
| YTD | 0.01% | 0.31% |
| 1 Year | 1.62% |
Returns less than one year are not annualised. Performance does not take account of the commissions and costs incurred on the issue and redemption of shares. Future performance is subject to taxation which depends on the personal situation of each investor, and which may change in the future. Complete information on risks can be found in the prospectus.
The Fund is actively managed with reference to the ICE BofA TONAR Overnight Rate Index (the "Index") by virtue of the fact that it seeks to outperform the Index. The investment manager has discretion over the composition of the Fund. Whilst the investment manager does not employ a defined strategy to align with a benchmark during periods of volatility, it will take account of market environment and perceived risks at any given time and will employ its investment discretion as described in the investment policy accordingly.
This is a marketing communication. Please refer to the prospectus of Payden Global AIF ICAV before making any final investment decision. This material has been prepared by Payden & Rygel Global Limited, a company authorised and regulated by the Financial Conduct Authority of the United Kingdom, and by Payden Global SIM S.p.A., an investment firm authorised and regulated by Italy’s CONSOB with passporting to provide services in certain EU jurisdictions. It is directed exclusively at professional investors or eligible parties and counterparties as defined by the rules of the Financial Conduct Authority or, for EU jurisdictions, by the rules of the Markets in Financial Instruments Directive (“MiFID”), as transposed in the relevant EU jurisdictions, and is not intended for use by retail investors. Suitability/appropriateness of the investment is the responsibility of the investor, no assurance can be given that the stated investment objectives will be achieved, and the value of investments may fall as well as rise. This information does not constitute an invitation or offer to subscribe for or purchase any of the products mentioned which will only be accepted on the basis of the relevant prospectus. The law may restrict distribution of this information in certain jurisdictions, therefore, persons into whose possession this message comes should inform themselves about and observe any such restrictions. Waystone Management Company (IE) Limited, the Manager, is authorised in Ireland and regulated by the Central Bank of Ireland.
Credit
Percent of Portfolio
AAA
4%
AA
6%
A
6%
BBB
24%
BB and Below
55%
Unrated
Sector
Percent of Portfolio
Corporates
40%
Mortgage-Backed
23%
Government/Gov't Related
20%
Asset-Backed
9%
Loans
4%
5%
Other
4%
| 0.60% |
| 3 Years | - | - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 1.30% | 0.58% |
| Returns less than one year are not annualized. All returns are net of fees. |
*From inception 11 Mar 2025 through 31 Dec 2025.
Fund Inception Date
17 Feb 2022
Fund Share Class Inception Date
11 Mar 2025
Fund Share Class
JPY Hedged Accumulating
Hedged
Yes
ISIN Number
IE00BL0L8L66
Ticker
PAYMCJA
Irish Stock Exchange Listed
Yes
Liquidity
Daily
Investment Minimum*
¥100,000,000 Initial
Overall Fund AUM
As of 31 May 2026
$195.6 Million
Total Payden Absolute Return Strategy AUM
As of 31 Mar 2026
$9.2 Billion
Benchmark
ICE BofA TONAR Overnight Rate Index
* The minimum initial investment can be reduced at the Directors' discretion.
Payden & Rygel has served the needs of institutional and individual investors for over a quarter-century. We offer a full array of investment strategies and products, including fixed-income, equity, balanced, and absolute return portfolios, to a varied global client base. Whilst we have grown and expanded our strategies since our inception, we are committed to our mission of providing customised investment management services focusing on each client’s specific needs and objectives.
The Payden Multi Asset Credit Fund invests in a multi-sector portfolio of global government, corporate, securitised, and emerging-market debt as well as select equity-related investments (up to a maximum 15% in total). It moves dynamically across sectors and individual securities with the aim of achieving its overnight deposit rates +3%-5% return objective. The Fund takes advantage of Payden's broad investment resources by incorporating the most compelling risk-adjusted opportunities from each sector team.
An established track record of over 10 years' managing absolute return fixed-income accounts.
Fund inception date 17 February 2022.
Global markets opportunity set.
Potential investors should consider the risks referred to in the “Risk Factors” section of the main prospectus.
Actively managed.
Data as of 31 May 2026
Data as of 31 May 2026
Markets navigated a volatile but ultimately constructive environment in May, driven largely by developments surrounding U.S.–Iran negotiations and their implications for energy prices and inflation. Early optimism around a potential agreement helped push oil prices lower and supported risk assets, whilst a subsequent deterioration in negotiations, coupled with a stronger-than-expected US inflation report, renewed concerns about persistent inflation and a higher-for-longer policy environment. Government bond yields rose sharply during the month, with the 30-year US Treasury yield briefly surpassing 5.1%, whilst German and Japanese government bond yields reached multi-year highs. By month-end, renewed optimism around diplomatic progress helped stabilise markets, with US Treasury yields retracing part of their increase and equities rallying, led by technology and AI-related companies. Economic data continued to point to moderate but resilient growth, with underlying US economic activity expanding 2.5% year-on-year in the first quarter, stable labour market conditions, and inflation remaining above target, reinforcing expectations that the Federal Reserve will remain on hold as it awaits clearer evidence of disinflation.
Looking ahead, the backdrop remains path-dependent, with economic resilience and firm inflation sustaining a more restrictive policy bias amid unresolved risks. US data continues to surprise to the upside across consumption, manufacturing, labour markets, and earnings, whilst inflation may become more volatile given higher commodity prices and ongoing geopolitical uncertainty. As a result, central banks have shifted from an easing bias towards a pause, and in some cases renewed tightening, across regions including Europe and Australia. Markets have reflected this shift unevenly: interest rates remain elevated, whilst credit valuations have largely recovered from the conflict-driven decline despite firm oil prices and persistent geopolitical risks. With bond yields and credit markets still tending to move together, we believe investors should be measured in their interest-rate exposure and focus on higher-quality, carefully selected credit opportunities. More broadly, diverging policy paths, inflation dynamics, and valuations across regions continue to create attractive investment opportunities, reinforcing the importance of selective, valuation-driven positioning.
IE00BL0L8L66
Ticker
PAYMCJA
Irish Stock Exchange Listed
Yes
Liquidity
Daily
Investment Minimum*
¥100,000,000 Initial
Overall Fund AUM
As of 31 May 2026
$195.6 Million
Total Payden Absolute Return Strategy AUM
As of 31 Mar 2026
$9.2 Billion
Benchmark
ICE BofA TONAR Overnight Rate Index
* The minimum initial investment can be reduced at the Directors' discretion.
Payden & Rygel has served the needs of institutional and individual investors for over a quarter-century. We offer a full array of investment strategies and products, including fixed-income, equity, balanced, and absolute return portfolios, to a varied global client base. Whilst we have grown and expanded our strategies since our inception, we are committed to our mission of providing customised investment management services focusing on each client’s specific needs and objectives.
Payden & Rygel has served the needs of institutional and individual investors for over a quarter-century. We offer a full array of investment strategies and products, including fixed-income, equity, balanced, and absolute return portfolios, to a varied global client base. Whilst we have grown and expanded our strategies since our inception, we are committed to our mission of providing customised investment management services focusing on each client’s specific needs and objectives.
In order to achieve its objective, the Fund invests predominantly in a wide variety of fixed- and floating-rate debt instruments including developed and emerging-market securities.
An established track record of over 10 years' managing absolute return fixed-income accounts.
Fund inception date 17 February 2022.
Global markets opportunity set.
Potential investors should consider the risks referred to in the “Risk Factors” section of the main prospectus.
Actively managed.
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
Month-End (31 May 2026) | 0.01% | 1.62% | - | - | - | 1.30% |
ICE BofA TONAR Overnight Rate Index | 0.31% | 0.60% | - | - | - | 0.58% |
Duration
Percent of Portfolio
0-1 yr
-16%
1-3 yrs
120%
3-5 yrs
-2%
5-7 yrs
12%
7+ yrs
-14%
Credit
Percent of Portfolio
AAA
4%
AA
6%
A
6%
BBB
24%
BB and Below
55%
Unrated
5%
Sector
Percent of Portfolio
Corporates
40%
Mortgage-Backed
23%
Government/Gov't Related
20%
Asset-Backed
9%
Loans
4%
Other
4%