NAV ($)
NAV change ($) as of 3/19/2019
The Payden Global Fixed Income Fund invests in bonds of all maturities issued by governments, agencies and corporations around the world. Up to 35% of its assets may be invested in bonds rated below investment grade. The fund purchases securities issued in the major industrialized countries as well as those that have strong ties to the world’s major economies.
Global Bond – Appropriate for investors with longer time horizons who seek diversification via sovereign and corporate debt of issuers in the developed markets of the world.
| No loads or 12b-1 fees | |
| Most currency exposure is hedged back to the U.S. dollar, removing one source of price volatility | |
| The value of an investment will generally fall when interest rates rise |
| Fund Inception Date | Sep 1, 1992 |
| Ticker | PYGFX |
| CUSIP | 704329101 |
| Fund Total Net Assets | $126.2 million |
| Benchmark | Bloomberg Barclays Global Aggregate Index USD Hedged |
| Net Expense Ratio | 0.70% |
| Sales Charge | None |
| Investment Minimum | |
| Investor Class - Regular Account | $5,000 |
| Investor Class - IRA Account | $2,000 |
| Additional Investment | $250 |
| Payden Global Fixed Income Fund (PYGFX) | Morningstar average: World Bond |
|
|---|---|---|
| Net Expense Ratio | 0.70% | 1.04% |
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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.
To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; 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.
The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.
| Fund Inception Date | Sep 1, 1992 |
| Total Net Assets | $126.2 million |
| Average Duration | Sep 1, 1992 |
| Average Maturity | 9.3 years |
| 30-Day SEC Yield (03/15/19) | 2.07% |
| 30-Day SEC Yield (unsubsidized) | 2.09% |
| Sector | Percent of Portfolio |
|---|---|
| Corporates | 39% |
| Governments/Cash | 39% |
| Mortgage-Backed | 13% |
| Asset-Backed | 6% |
| Government Related | 3% |
| Total | 100% |
| Credit Quality | Percent of Portfolio |
|---|---|
| AAA | 19% |
| AA | 9% |
| A | 30% |
| BBB | 27% |
| BB | 8% |
| B | 3% |
| Unrated | 4% |
| Total | 100% |
| Country | Percent of Portfolio |
|---|---|
| United States | 47.3% |
| Euroland | 26.1% |
| Japan | 17.3% |
| United Kingdom | 5.9% |
| Canada | 1.8% |
| Currency | Percent of Portfolio |
|---|---|
| U.S. Dollar | 100% |
| Canadian Dollar | -2% |
| Norwegian Krone | 2% |
| Euro | 0% |
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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.
To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; 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.
The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.
| YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | |
|---|---|---|---|---|---|---|
| Quarter-end (12/31/2018) | -0.26% | -0.26% | 2.49% | 3.22% | 3.90% | 5.15% |
| Month-end (2/28/2019) | 1.85% | 2.05% | 2.79% | 3.21% | 4.13% | 5.19% |
| 2018 | -0.26% |
| 2017 | 4.11% |
| 2016 | 3.69% |
| 2015 | 1.49% |
| 2014 | 7.21% |
| 2013 | -1.17% |
| 2012 | 10.21% |
| 2011 | 1.65% |
| 2010 | 6.09% |
| 2009 | 6.57% |
| Total Annual Operating Expense | 0.78% |
| Net or Actual Operating Expense | 0.70% |
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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.
To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; 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.
The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.
| MARKET | |
| December was a respite for non-Treasury fixed-income sectors, as positive returns were posted broadly caused by a flight to quality (lower U.S. Treasury yields, wider yield premium). | |
| Risk-off sentiment roiled the markets which caused yearly highs in investment-grade corporate, high-yield, and emerging-market bond yield differentials relative to U.S. Treasuries. | |
| Non-Treasury fixed-income sectors posted their strongest total returns over the year in December on the heels of lower bond yields broadly. | |
| OUTLOOK | |
| The global economy is fundamentally strong and we believe U.S. growth is likely to outpace most expectations as the markets persist through U.S. trade tensions, emerging-market volatility, and eurozone stressors. | |
| We anticipate that political woes globally will likely keep volatility higher over the short-run but we expect the fundamental strength in the global economy and across corporate balance sheets to prevail. | |
| Given our view of higher rates, we favor a shorter-duration posture to help mitigate potential price sensitivity resulting from increases in yields. | |
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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.
To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; 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.
The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.