US Funds

Payden Strategic Income Fund (PYSGX)

$9.81

NAV ($)

$-0.01

NAV change ($) as of 10/15/2018

  • Overview
  • Portfolio Statistics
  • Performance & Expenses
  • Fund Commentary
Investment Strategy

The Payden Strategic Income Fund invests in a customized mix of fixed-income sectors, across the entire bond universe and maturity curve. This strategy invests in a diverse mix of securities across a multitude of sectors including: emerging-markets, high-yield and investment-grade corporates, and mortgage-backed and asset-backed securities, investing with a long-term outlook.

Role In Portfolio

Strategic Income – Appropriate for investors with a long-term investment horizon who seek higher income and diversification across the full bond universe.

Fund Highlights
Seeks income with a custom mix of investments across the yield curve
Focuses on “best ideas” to uncover relative value opportunities globally, with the ability to invest anywhere
Strategic investment horizon encourages a flexible and creative approach to structuring the portfolio
The value of an investment will generally fall when interest rates rise

Fund Snapshot
Fund Inception Date May 8, 2014
Share Class Inception Date May 8, 2014
Ticker PYSGX
CUSIP 704329168
Fund Total Net Assets $208.9 million
Benchmark Bloomberg Barclays US Aggregate Bond Index
Net Expense Ratio 0.70%
Sales Charge None
Investment Minimum
Investor Class - Regular Account $100,000
Investor Class - IRA Account $100,000
SI Class $50,000,000
Additional Investment - All Classes$250

A Low Cost leader
Payden Strategic Income Fund (PYSGX) Morningstar average:
Short-Term Bond
Net Expense Ratio 0.70% 0.84%

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.

Portfolio Characteristics
Fund Inception Date May 8, 2014
Share Class Inception Date May 8, 2014
Total Net Assets $208.9 million
Average Duration 3.3 years
Average Maturity 5.1 years
30-Day SEC Yield (10/12/18) 3.35%
30-Day SEC Yield (unsubsidized) 3.15%
Duration Breakdown
Years Percent of Portfolio
0-140%
1-319%
3-527%
5-76%
7-105%
10+3%
Total 100%
Credit Breakdown
Credit Quality Percent of Portfolio
AAA6%
AA26%
A7%
BBB28%
BB15%
B9%
CCC2%
Unrated7%
Total 100%
Credit breakdown represents the lower of the ratings provided by Standard & Poor's and Moody's
Sector Breakdown
Sector Percent of Portfolio
Investment Grade Corporates28%
U.S. Government22%
Securitized19%
High Yield18%
Emerging Market Debt8%
Other5%
Total 100%

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.

    Number of funds
Overall 474
3 Year 474
Category: Short-Term Bond
Criterion: 

Total Returns
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Quarter-end (9/30/2018) -0.04% 0.45% 2.55% N/A N/A 2.32%
Month-end (9/30/2018) -0.04% 0.45% 2.55% N/A N/A 2.32%
Yearly Returns
20174.24%
20163.65%
20151.78%
20140.61%
Expenses
Total Annual Operating Expense 0.86%
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.

(A) An overall rating is based on a weighted average of the fund’s ratings for the three-, five- and ten-year periods, if applicable. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating (based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a funds monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars and the next 22.5% receive four stars. Highly rated funds are defined as those that have a four or five star Morningstar rating. Data provided by Morningstar, Inc. Although gathered from reliable sources, data completeness and accuracy cannot be guaranteed. Morningstar is a registered trademark of Morningstar, Inc. and is not affiliated with Paydenfunds

Fund Commentary

MARKET
The U.S. economic fundamentals continued to improve steadily with other developed peers appearing to follow along.
Volatility remained elevated, compared to recent years, due to several geopolitical events and instability in a few emerging markets.
Amid rising rates, investment-grade corporate bond yields relative to similar-maturity U.S. Treasuries tightened despite the large amount of new issuance this September which was supported by large mergers & acquisitions deals.

OUTLOOK
The global economy is fundamentally strong and U.S. growth is likely to outpace most expectations as the markets persist through U.S. trade tensions, emerging-market volatility, and eurozone stressors.
Political woes globally should 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. Corporate fundamentals continue to improve with support from solid U.S. macroeconomic growth.
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.