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NAV / Daily Prices
NAV (£)
11.42
NAV Change (£)
-0.01
Statistics
Hedged Yield to Maturity
5.87%
Effective Duration
2.43 Years
Average Maturity
5.41 Years
Average Fund Credit Rating
BBB+
Number of Issuers
177
Expenses
Management Fee
0.35%
Maximum Total Expense Ratio (TER) Capped at
0.40%
Initial Charge
NONE
Redemption Fee
NONE
ICE BofA SONIA Overnight Rate Index
| Total Returns | Month-End (31 Mar 2026) | ICE BofA SONIA Overnight Rate Index |
| YTD | -0.58% | 0.94% |
| 1 Year | 3.15% |
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 SONIA 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 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.
Duration
Percent of Portfolio
0-1 yr
-14%
1-3 yrs
102%
5-7 yrs
13%
7+ yrs
-1%
Credit
Percent of Portfolio
AAA
20%
AA
9%
A
12%
BBB
27%
BB and Below
29%
Unrated
3%
Sector
Percent of Portfolio
Mortgage-Backed Securities
21%
Emerging Markets
19%
High Yield
16%
Investment Grade Corporates
14%
Asset-Backed Securities
13%
CMBS
9%
Bank Loans
3%
Other
5%
| 4.15% |
| 3 Years | - | - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 5.21% | 4.75% |
| Returns less than one year are not annualized. All returns are net of fees. |
*From inception 7 Nov 2023 through 31 Dec 2023.
Fund Inception Date
11 Jun 2013
Fund Share Class Inception Date
7 Nov 2023
Fund Share Class
GBP Hedged Accumulating (SI)
Hedged
Yes
ISIN Number
IE00027QZ6V3
Ticker
PAYRTSI
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
£100,000,000 Initial
Overall Fund AUM
As of 31 Mar 2026
$1.9 Billion
Total Payden Absolute Return Strategy AUM
As of 31 Mar 2026
$9.2 Billion
Benchmark
ICE BofA SONIA Overnight 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 Mar 2026
Data as of 31 Mar 2026
In the first quarter of 2026, fixed-income markets were shaped by a combination of resilient but moderating US macroeconomic fundamentals and rising geopolitical uncertainty. Growth remained near trend (~2%) following a strong end to 2025, whilst a weakening labour market and gradually cooling core inflation pointed to limited upside pressure on underlying inflation. However, escalating tensions in Iran, particularly risks to energy flows through the Strait of Hormuz, introduced episodic volatility and pushed yields higher amid concerns over an energy-driven inflation shock. Despite this, credit risk premiums remained relatively contained and did not meaningfully reprice, even as the broader macroeconomic backdrop became less supportive and pockets of weakness emerged across labour markets and risk assets. The Federal Reserve maintained a cautious stance, holding rates steady as it balanced near-term inflation risks against signs of softening economic momentum.
Looking ahead, the outlook remains highly path-dependent, with energy markets and policy responses likely to be the primary drivers of fixed-income performance. A wide range of outcomes persists: de-escalation could lower yields and support risk assets, whilst a sustained energy shock could tighten financial conditions and weigh on growth, ultimately leading to lower yields through demand destruction, albeit with near-term volatility. This dynamic creates an asymmetry between rates and credit where duration is positioned to perform across a broader set of scenarios, but credit remains more contingent on a benign growth and inflation backdrop. At the same time, both rates and credit remain vulnerable to a persistent energy-driven inflation shock, where yields and credit risk premiums could come under pressure simultaneously. In this environment, maintaining flexibility, incremental positioning, and valuation discipline remains critical, as markets have yet to fully price the range of potential outcomes.
Performance1
ICE BofA SONIA Overnight Rate Index
Total Returns
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
Month-End (31 Mar 2026) | -0.58% | 3.15% | - | - | - | 5.21% |
ICE BofA SONIA Overnight Rate Index | 0.94% | 4.15% | - | - | - | 4.75% |
Returns less than one year are not annualized. All returns are net of fees.
*From inception 7 Nov 2023 through 31 Dec 2023.
Fund Inception Date
11 Jun 2013
Fund Share Class Inception Date
7 Nov 2023
Fund Share Class
GBP Hedged Accumulating (SI)
Hedged
Yes
ISIN Number
IE00027QZ6V3
Ticker
PAYRTSI
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
£100,000,000 Initial
Overall Fund AUM
As of 31 Mar 2026
$1.9 Billion
Total Payden Absolute Return Strategy AUM
As of 31 Mar 2026
$9.2 Billion
Benchmark
ICE BofA SONIA Overnight 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.
Duration
Percent of Portfolio
0-1 yr
-14%
1-3 yrs
102%
5-7 yrs
13%
7+ yrs
-1%
Credit
Percent of Portfolio
AAA
20%
AA
9%
A
12%
BBB
27%
BB and Below
29%
Unrated
3%
Sector
Percent of Portfolio
Mortgage-Backed Securities
21%
Emerging Markets
19%
High Yield
16%
Investment Grade Corporates
14%
Asset-Backed Securities
13%
CMBS
9%
Bank Loans
3%
Other
5%