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NAV / Daily Prices
NAV (¥)
1008.78
NAV Change (¥)
-1.73
Statistics
Hedged Yield to Maturity
3.13%
Effective Duration
2.35 Years
Average Maturity
5.43 Years
Average Fund Credit Rating
BB+
Number of Issuers
151
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 (30 Apr 2026) | ICE BofA TONAR Overnight Rate Index |
| YTD | -0.26% | 0.24% |
| 1 Year | 1.46% |
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
7%
AA
5%
A
7%
BBB
21%
BB and Below
56%
Unrated
Sector
Percent of Portfolio
Corporates
40%
Mortgage-Backed
25%
Government/Gov't Related
19%
Asset-Backed
6%
Money Markets
4%
4%
Loans
4%
Preferred Stocks
2%
| 0.58% |
| 3 Years | - | - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 1.16% | 0.57% |
| 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 30 Apr 2026
$187.9 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 30 Apr 2026
Data as of 30 Apr 2026
April was characterised by continued US economic resilience alongside persistently elevated inflation, reinforcing a more restrictive global policy backdrop. First-quarter GDP expanded at a 2% annualised pace, supported in large part by ongoing strength in technology-related investment, while the labour market remained stable with unemployment holding near 4.3%. Limited labour force growth continues to mask underlying softness in job creation, suggesting equilibrium rather than strength. Inflation remains the key challenge, with core personal consumption expenditures (PCE) rising to 3.2% year-over-year and ongoing pressure from elevated commodity prices, particularly oil, amid geopolitical tensions. In response, the Federal Reserve (Fed) held rates steady at 3.75%, signalling a prolonged pause. Markets adjusted to this "higher-for-longer" dynamic: front-end US Treasury yields remained elevated, longer-end yields drifted higher with inflation uncertainty, and yield curves stayed relatively flat. Risk assets proved resilient, with equities advancing modestly on strong earnings, particularly in technology, whilst credit risk premiums retraced much of their earlier widening despite the more uncertain macroeconomic backdrop.
Looking ahead, the environment remains highly path-dependent, with resilient growth and sticky inflation keeping central banks on hold for the foreseeable future. We expect the Fed to maintain its current policy stance through most of 2026, with the potential to resume easing only as inflation begins to moderate later in the year. In the near term, elevated commodity prices and geopolitical uncertainty may continue to drive inflation volatility, limiting the scope for policy easing and keeping rates higher for longer. Against this backdrop, we maintain a preference for interest rate exposure over credit, given more attractive valuations and improved defensive characteristics. At the same time, increased dispersion across regions and sectors is creating a broader opportunity set, particularly in emerging markets and select securitised assets where fundamentals remain supportive. Overall, the strategy remains focused on balancing income generation with a cushion during market declines, maintaining flexibility to adjust positioning as macroeconomic conditions evolve and more attractive entry points emerge.
IE00BL0L8L66
Ticker
PAYMCJA
Irish Stock Exchange Listed
Yes
Liquidity
Daily
Investment Minimum*
¥100,000,000 Initial
Overall Fund AUM
As of 30 Apr 2026
$187.9 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 (30 Apr 2026) | -0.26% | 1.46% | - | - | - | 1.16% |
ICE BofA TONAR Overnight Rate Index | 0.24% | 0.58% | - | - | - | 0.57% |
Duration
Percent of Portfolio
0-1 yr
-16%
1-3 yrs
110%
3-5 yrs
2%
5-7 yrs
12%
7+ yrs
-8%
Credit
Percent of Portfolio
AAA
7%
AA
5%
A
7%
BBB
21%
BB and Below
56%
Unrated
4%
Sector
Percent of Portfolio
Corporates
40%
Mortgage-Backed
25%
Government/Gov't Related
19%
Asset-Backed
6%
Money Markets
4%
Loans
4%
Preferred Stocks
2%