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NAV / Daily Prices
NAV (kr)
120.98
NAV Change (kr)
0.02
Statistics
Hedged Yield to Maturity
6.61%
Effective Duration
1.16 Years
Average Maturity
5.63 Years
Average Fund Credit Rating
BBB-
Number of Issuers
183
Expenses
Management Fee
0.45%
Maximum Total Expense Ratio (TER) Capped at
0.50%
Initial Charge
NONE
Redemption Fee
NONE
ICE BofA Norwegian Krone Overnight Deposit Bid Rate Index
| Total Returns | Month-End (31 May 2026) | ICE BofA Norwegian Krone Overnight Deposit Bid Rate Index |
| YTD | 0.95% | 1.63% |
| 1 Year |
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.
Payden Absolute Return Bond Fund is a sub-fund of Payden Global Funds plc, an open-ended investment company with variable capital incorporated under Ireland law and is authorised by FINMA for offering to non-qualified investors. The prospectus for Switzerland, the key investor information documents ("KIID"), the articles, the semi-annual and annual reports and other information can be obtained free of charge from the Fund’s representative and paying agent in Switzerland: Reyl & Cie SA., 4, rue de Rhône, 1204 Geneva, Switzerland.
The Fund is actively managed with reference to the ICE BofA Norwegian Krone Overnight Deposit Bid 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 Funds plc and to the PRIIPs KID or KIID 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
12%
AA
6%
A
13%
BBB
30%
BB and Below
35%
Unrated
4%
Credit
Percent of Portfolio
AAA
12%
AA
6%
A
13%
BBB
30%
BB and Below
35%
Unrated
4%
Credit
Percent of Portfolio
AAA
12%
AA
6%
A
13%
BBB
30%
BB and Below
35%
Unrated
4%
| 4.11% |
| 4.06% |
| 3 Years | 4.75% | 4.28% |
| 5 Years | 2.28% | 3.12% |
| 10 Years | - | - |
| Since Inception | 2.13% | 1.92% |
| Returns less than one year are not annualized. All returns are net of fees. |
*From inception 5 May 2017 through 31 Dec 2017.
Fund Inception Date
11 Jun 2013
Fund Share Class Inception Date
5 May 2017
Fund Share Class
NOK Hedged Accumulating
Hedged
Yes
ISIN Number
IE00B96M0L31
Ticker
PARBNOA
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
kr10,000,000 Initial
Overall Fund AUM
As of 31 May 2026
$1.8 Billion
Total Payden Absolute Return Strategy AUM
As of 31 Mar 2026
$9.2 Billion
Benchmark
ICE BofA Norwegian Krone Overnight Deposit Bid Rate Index
* The minimum initial investment can be reduced at the Directors' discretion.
Appropriate for investors seeking positive absolute returns and reduced correlations with traditional bond markets.
The Payden Absolute Return Bond Fund invests in a multi-sector portfolio of global government, corporate, securitised and emerging market debt as well as select equity-related investments. It moves dynamically among sectors and individual securities with the aim of achieving its overnight deposit rates +3% return objective. The Fund takes advantage of Payden's broad investment resources by incorporating the most compelling risk-adjusted opportunities from each sector team. A special emphasis is also placed on risk management and mitigating downside potential.
An established track record of over 10 years' experience actively managing absolute return fixed-income accounts.
Fund inception date 11 Jun 2013.
Global markets opportunity set.
KIID SRRI: 3/PRIIPs KID SRI: 2.
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.
Performance1
ICE BofA Norwegian Krone Overnight Deposit Bid Rate Index
Total Returns
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
Month-End (31 May 2026) | 0.95% | 4.11% | 4.75% | 2.28% | - | 2.13% |
ICE BofA Norwegian Krone Overnight Deposit Bid Rate Index | 1.63% | 4.06% | 4.28% | 3.12% | - | 1.92% |
Returns less than one year are not annualized. All returns are net of fees.
*From inception 5 May 2017 through 31 Dec 2017.
Fund Inception Date
11 Jun 2013
Fund Share Class Inception Date
5 May 2017
Fund Share Class
NOK Hedged Accumulating
Hedged
Yes
ISIN Number
IE00B96M0L31
Ticker
PARBNOA
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
kr10,000,000 Initial
Overall Fund AUM
As of 31 May 2026
$1.8 Billion
Total Payden Absolute Return Strategy AUM
As of 31 Mar 2026
$9.2 Billion
Benchmark
ICE BofA Norwegian Krone Overnight Deposit Bid Rate Index
* The minimum initial investment can be reduced at the Directors' discretion.
Appropriate for investors seeking positive absolute returns and reduced correlations with traditional bond markets.
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.
The Fund has been classified as a financial product subject to Article 8 of the Sustainable Finance Disclosure Regulation (EU) 2019/2088.
An established track record of over 10 years' experience actively managing absolute return fixed-income accounts.
Fund inception date 11 Jun 2013.
Global markets opportunity set.
KIID SRRI: 3/PRIIPs KID SRI: 2.
Credit
Percent of Portfolio
AAA
12%
AA
6%
A
13%
BBB
30%
BB and Below
35%
Unrated
4%
Credit
Percent of Portfolio
AAA
12%
AA
6%
A
13%
BBB
30%
BB and Below
35%
Unrated
4%
Credit
Percent of Portfolio
AAA
12%
AA
6%
A
13%
BBB
30%
BB and Below
35%
Unrated
4%