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NAV / Daily Prices
NAV (£)
9.13
NAV Change (£)
0.00
Statistics
Hedged Yield to Maturity
4.92%
Effective Duration
3.05 Years
Average Maturity
3.29 Years
Average Fund Credit Rating
A-
Number of Issuers
265
Expenses
Management Fee
0.23%
Maximum Total Expense Ratio (TER) Capped at
0.30%
Initial Charge
NONE
Redemption Fee
NONE
Bloomberg US Corporate 1-5 Years Index GBP Hedged
| Total Returns | Month-End (30 Apr 2026) | Bloomberg US Corporate 1-5 Years Index GBP Hedged |
| YTD | 0.27% | 0.49% |
| 1 Year | 4.22% |
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 Bloomberg US Corporate 1-5 Years Index GBP Hedged (the "Index"). The Index is used (i) as a universe from which to select or hold securities; and (ii) to measure performance of the Fund. The investment manager has discretion over the composition of the portfolio of the Fund and may select securities not included in the Index. However, in normal market circumstances, it is expected that a significant portion of the Fund’s constituents will also be Index constituents and deviations from the Index may be limited. 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
17%
AA
5%
A
36%
BBB
35%
BB and Below
6%
Unrated
Sector
Percent of Portfolio
Financials
40%
Industrials
34%
CMO
9%
CMBS
6%
Utilities
6%
Other
1%
5%
| 4.40% |
| 3 Years | 5.07% | 5.03% |
| 5 Years | 2.07% | 1.94% |
| 10 Years | - | - |
| Since Inception | 2.00% | 1.97% |
| Returns less than one year are not annualized. All returns are net of fees. |
*From inception 19 Oct 2016 through 31 Dec 2016.
Fund Inception Date
5 Dec 2013
Fund Share Class Inception Date
19 Oct 2016
Fund Share Class
GBP Hedged Distributing
Hedged
Yes
ISIN Number
IE00BD1NV720
Ticker
PRULDGD
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
£1,000,000 Initial
Overall Fund AUM
As of 30 Apr 2026
$941.0 Million
Total Payden Low Duration Strategy AUM
As of 31 Mar 2026
$32.5 Billion
Benchmark
Bloomberg US Corporate 1-5 Years Index GBP Hedged
* The minimum initial investment can be reduced at the Directors' discretion.
Appropriate for investors who seek the income and potential for capital appreciation offered by corporate bonds, whilst minimising exposure to interest rate movements.
The Payden USD Low Duration Credit Fund invests in a diversified portfolio of investment-grade corporate bonds. In an environment of heightened sensitivity to rising interest rates, the Fund invests primarily in short-maturity (1-5 year) bonds and floating-rate notes to limit the impact of interest rate movements whilst still capturing the upside of compressing credit spreads. The Fund employs tactical allocations to emerging-market debt and high-yield bonds as opportunities present themselves, but the focus remains on US investment-grade companies.
Actively managed by Payden & Rygel with more than 40 years' experience managing institutional low duration fixed-income accounts.
Fund inception date 5 Dec 2013.
Global markets experience.
KIID SRRI: 3/PRIIPs KID SRI: 2.
Data as of 30 Apr 2026
Data as of 30 Apr 2026
In April, data showed that US economic activity continues to be resilient, the labour market has stabilised, and inflation remains elevated. Given a backdrop of above-target inflation and resilient economic activity, the Federal Reserve (Fed) held the federal funds rate at 3.75% for the month. US Treasury yields continued to move higher, with the 2-year yield rising 0.08% to 3.88%, whilst the 10-year yield rose by 0.05% to 4.37%.
Corporate yields over similar-maturity US Treasuries have remained resilient as high overall yields continue to drive demand. The 1- to 5-year maturity spectrum, yields fell 0.09% to 0.61%. As a result, the overall yield on 1- to 5-year corporate bonds remained flat at 4.58%.
Companies issued $184 billion of new corporate bonds in April, bringing year-to-date totals to $830 billion, up 29% year-over-year.
During the month, the Fund continued to selectively participate in the new issue calendar, adding credits across the financials sector, whilst also increasing exposure to securitised assets and high-yield bonds. At the same time, it reduced exposure to relatively expensive credits to sectors within industrials, such as consumer non-cyclicals and technology. Duration remains modestly long relative to the benchmark.
Corporate bonds posted a strong recovery in April, retracing much of the weakness they saw in March. Demand for investment-grade credit remains robust, supported by high all-in corporate yields. Additionally, we have seen a strong start to the first-quarter earnings season, which has increased investor confidence in the outlook for underlying fundamentals. Investors also continue to absorb elevated levels of new corporate bond issuance, including financing tied to the growing capital expenditure needs of large technology companies investing heavily in AI and cloud infrastructure.
Given this constructive market tone, we believe corporate bonds can continue to perform well in the coming quarters, with potential for even stronger performance if the Middle East conflict de-escalates in the near future. However, if the conflict persists, downside risks could emerge as oil prices weigh on the consumer and the inflation outlook. Careful credit selection remains key, as we expect to see greater dispersion across sectors and individual credits going forward.
*From inception 19 Oct 2016 through 31 Dec 2016.
IE00BD1NV720
Ticker
PRULDGD
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
£1,000,000 Initial
Overall Fund AUM
As of 30 Apr 2026
$941.0 Million
Total Payden Low Duration Strategy AUM
As of 31 Mar 2026
$32.5 Billion
Benchmark
Bloomberg US Corporate 1-5 Years Index GBP Hedged
* The minimum initial investment can be reduced at the Directors' discretion.
Appropriate for investors who seek the income and potential for capital appreciation offered by corporate bonds, whilst minimising exposure to interest rate movements.
The Fund primarily invests in a diversified portfolio of USD investment-grade corporate bonds.
It may also invest in high-yield, emerging-market, sovereign, securitised, and floating-rate securities.
The Fund has been classified as a financial product subject to Article 8 of the Sustainable Finance Disclosure Regulation (EU) 2019/2088.
Actively managed by Payden & Rygel with more than 40 years' experience managing institutional low duration fixed-income accounts.
Fund inception date 5 Dec 2013.
Global markets experience.
KIID SRRI: 3/PRIIPs KID SRI: 2.
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
Month-End (30 Apr 2026) | 0.27% | 4.22% | 5.07% | 2.07% | - | 2.00% |
Bloomberg US Corporate 1-5 Years Index GBP Hedged | 0.49% | 4.40% | 5.03% | 1.94% | - | 1.97% |
Duration
Percent of Portfolio
0-1 yr
15%
1-3 yrs
52%
3-5 yrs
29%
5-10 yrs
4%
Credit
Percent of Portfolio
AAA
17%
AA
5%
A
36%
BBB
35%
BB and Below
6%
Unrated
1%
Sector
Percent of Portfolio
Financials
40%
Industrials
34%
CMO
9%
CMBS
6%
Utilities
6%
Other
5%