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NAV / Daily Prices
NAV (A$)
11.31
NAV Change (A$)
0.00
Statistics
Hedged Yield to Maturity
6.42%
Effective Duration
1.85 Years
Average Maturity
5.44 Years
Average Fund Credit Rating
BBB
Number of Issuers
178
Expenses
Management Fee
0.45%
Maximum Total Expense Ratio (TER) Capped at
0.50%
Initial Charge
NONE
Redemption Fee
NONE
ICE BofA Australian Dollar Overnight Deposit Bid Rate Index
| Total Returns | Month-End (30 Apr 2026) | ICE BofA Australian Dollar Overnight Deposit Bid Rate Index |
| YTD | 0.44% | 1.23% |
| 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 Australian Dollar 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.
Duration
Percent of Portfolio
0-1 yr
17%
1-3 yrs
77%
3-5 yrs
1%
5-7 yrs
13%
7+ yrs
-8%
Credit
Percent of Portfolio
AAA
19%
AA
6%
A
12%
BBB
28%
BB and Below
33%
Unrated
2%
Sector
Percent of Portfolio
Mortgage-Backed Securities
21%
Emerging Markets
20%
High Yield
17%
Investment Grade Corporates
14%
Asset-Backed Securities
12%
CMBS
9%
Bank Loans
4%
Money Markets
3%
| 3.41% |
| 3.69% |
| 3 Years | - | - |
| 5 Years | - | - |
| 10 Years | - | - |
| Since Inception | 4.88% | 4.03% |
| Returns less than one year are not annualized. All returns are net of fees. |
*From inception 6 Oct 2023 through 31 Dec 2023.
Fund Inception Date
11 Jun 2013
Fund Share Class Inception Date
6 Oct 2023
Fund Share Class
AUD Hedged Accumulating
Hedged
Yes
ISIN Number
IE00B9NH9816
Ticker
PYARBAA
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
A$1,000,000 Initial
Overall Fund AUM
As of 30 Apr 2026
$1.9 Billion
Total Payden Absolute Return Strategy AUM
As of 31 Mar 2026
$9.2 Billion
Benchmark
ICE BofA Australian Dollar 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 30 Apr 2026
Data as of 30 Apr 2026
April was characterised by continued US economic resilience alongside persistently elevated inflation, reinforcing a more restrictive global policy backdrop. First-quarter GDP expanded at a 2% annualised pace, supported in large part by ongoing strength in technology-related investment, while the labour market remained stable with unemployment holding near 4.3%. Limited labour force growth continues to mask underlying softness in job creation, suggesting equilibrium rather than strength. Inflation remains the key challenge, with core personal consumption expenditures (PCE) rising to 3.2% year-over-year and ongoing pressure from elevated commodity prices, particularly oil, amid geopolitical tensions. In response, the Federal Reserve (Fed) held rates steady at 3.75%, signalling a prolonged pause. Markets adjusted to this "higher-for-longer" dynamic: front-end US Treasury yields remained elevated, longer-end yields drifted higher with inflation uncertainty, and yield curves stayed relatively flat. Risk assets proved resilient, with equities advancing modestly on strong earnings, particularly in technology, whilst credit risk premiums retraced much of their earlier widening despite the more uncertain macroeconomic backdrop.
Looking ahead, the environment remains highly path-dependent, with resilient growth and sticky inflation keeping central banks on hold for the foreseeable future. We expect the Fed to maintain its current policy stance through most of 2026, with the potential to resume easing only as inflation begins to moderate later in the year. In the near term, elevated commodity prices and geopolitical uncertainty may continue to drive inflation volatility, limiting the scope for policy easing and keeping rates higher for longer. Against this backdrop, we maintain a preference for interest rate exposure over credit, given more attractive valuations and improved defensive characteristics. At the same time, increased dispersion across regions and sectors is creating a broader opportunity set, particularly in emerging markets and select securitised assets where fundamentals remain supportive. Overall, the strategy remains focused on balancing income generation with a cushion during market declines, maintaining flexibility to adjust positioning as macroeconomic conditions evolve and more attractive entry points emerge.
Performance1
ICE BofA Australian Dollar Overnight Deposit Bid Rate Index
Total Returns
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
Month-End (30 Apr 2026) | 0.44% | 3.41% | - | - | - | 4.88% |
ICE BofA Australian Dollar Overnight Deposit Bid Rate Index | 1.23% | 3.69% | - | - | - | 4.03% |
Returns less than one year are not annualized. All returns are net of fees.
*From inception 6 Oct 2023 through 31 Dec 2023.
Fund Inception Date
11 Jun 2013
Fund Share Class Inception Date
6 Oct 2023
Fund Share Class
AUD Hedged Accumulating
Hedged
Yes
ISIN Number
IE00B9NH9816
Ticker
PYARBAA
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
A$1,000,000 Initial
Overall Fund AUM
As of 30 Apr 2026
$1.9 Billion
Total Payden Absolute Return Strategy AUM
As of 31 Mar 2026
$9.2 Billion
Benchmark
ICE BofA Australian Dollar 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.
Duration
Percent of Portfolio
0-1 yr
17%
1-3 yrs
77%
3-5 yrs
1%
5-7 yrs
13%
7+ yrs
-8%
Credit
Percent of Portfolio
AAA
19%
AA
6%
A
12%
BBB
28%
BB and Below
33%
Unrated
2%
Sector
Percent of Portfolio
Mortgage-Backed Securities
21%
Emerging Markets
20%
High Yield
17%
Investment Grade Corporates
14%
Asset-Backed Securities
12%
CMBS
9%
Bank Loans
4%
Money Markets
3%