US Funds

Payden Strategic Income Fund (PYSGX)

$9.47

NAV ($)

$-0.01

NAV change ($) as of 6/27/2022

  • 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 $175.8 million
Benchmark BLOOMBERG US AGGREGATE BOND INDEX

Net Expense Ratio 0.65%
Sales Charge None
Investment Minimum
Investor Class - Regular Account $5,000
Investor Class - IRA Account $2,000
SI Class $10,000,000
Additional Investment - All Classes$250

A Low Cost leader
Payden Strategic Income Fund (PYSGX) Morningstar average:
Short-Term Bond
Net Expense Ratio 0.65% 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.

Please note that by your use of this website and/or sending Payden & Rygel any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Notice set forth in Prospectus Appendix B here.

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 $175.8 million
Average Duration 2.7 years
Average Maturity 5.2 years
30-Day SEC Yield (06/24/22) 3.77%
30-Day SEC Yield (unsubsidized) 3.47%
Duration Breakdown
Years Percent of Portfolio
0-135%
1-331%
3-516%
5-712%
7-103%
10+3%
Total 100%
Credit Breakdown
Credit Quality Percent of Portfolio
AAA26%
AA5%
A8%
BBB28%
BB15%
B8%
CCC1%
Unrated9%
Total 100%
Security ratings are assigned using the highest rating of Moody’s, S&P, and Fitch.
Sector Breakdown
Sector Percent of Portfolio
Securitized23%
Investment Grade Corporates21%
U.S. Government19%
High Yield19%
Emerging Market Debt8%
Muni4%
Cash3%
Other3%
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.

Please note that by your use of this website and/or sending Payden & Rygel any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Notice set forth in Prospectus Appendix B here.

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 550
3 Year 550
Category: Short-Term Bond 5 Year 489
Criterion: 

Total Returns
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Quarter-end (3/31/2022) -3.26% -1.25% 3.01% 2.97% N/A 2.82%
Month-end (5/31/2022) -5.28% -4.82% 1.82% 2.29% N/A 2.50%
Yearly Returns
20211.72%
20206.19%
20198.33%
2018-0.51%
20174.24%
20163.65%
20151.78%
20140.61%
Expenses
Total Annual Operating Expense 0.85%
Net or Actual Operating Expense 0.65%

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.

Please note that by your use of this website and/or sending Payden & Rygel any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Notice set forth in Prospectus Appendix B here.

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
In May, there were significant fluctuations in sentiment throughout the month as the narrative shifted from inflation risks to growth risks. The month started with a heavy risk-off sentiment due to the concerns over inflationary pressures, monetary tightening, and the continued zero-COVID strategy in China. Sentiment then reversed as the aggressive path of interest rate hikes came under question. Overall, stocks were flat on the month and the yield on the 10-year U.S. Treasury slightly decreased.
The month began with U.S. Treasury yields sharply increasing and equities falling as inflation concerns built. The year-on-year U.S. inflation rate was higher than expected at 8.3%. Nonetheless, concerns about growth due to weak economic reports especially within the U.S. housing market led to investors pricing in a less aggressive hiking cycle from the Federal Reserve. On the back of this, the yield on the 10-year U.S. Treasury decreased by nearly 0.30% from its month’s high.

OUTLOOK
Uncertainty around the growth and inflation outlook for the global economy continues. Inflation pressures are not showing any signs of abating and probabilities of a more significant slowdown in growth have increased. On the trade-off between growth and inflation, most central banks have expressed a commitment to fight inflation, which in turn has led to a tightening of financial conditions.
Having said this, financial conditions remain fairly accommodative by historical standards, and while consumer and investor confidence has recently declined, households’ and corporations’ balance sheets remain healthy.
In this environment, we typically expect risk assets to generate positive excess returns over the next 12 months, helped by the recent increase in risk premia and the more attractive valuation levels. We also expect central banks to maintain their focus on inflation and to continue their tightening of monetary conditions.

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.

Please note that by your use of this website and/or sending Payden & Rygel any information via this website, you acknowledge that any personal information you provide to us will be subject to our Privacy Notice set forth in Prospectus Appendix B here.

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.