UCITS Funds

Payden Global Equity Income Fund (PYGEIUA ID)

Base Share Class: USD
  • Overview
  • Portfolio Statistics
  • Performance & Expenses
  • Fund Commentary
Investment Strategy

The Payden Global Equity Income Fund invests primarily in global large-capitalization common stocks with above-average dividend yields and other income-producing securities such as preferred stocks, master limited partnerships, and real estate investment trusts. The Fund focuses on companies that have strong fundamentals and are expected to achieve positive earnings and dividend growth.

Fund Snapshot
Fund Inception Date Jun 21, 2017
Ticker PYGEIUA ID
ISIN Number IE00BYQJ9894
Sedol Number BYQJ989
Fund Total Net Assets $60.6 million
Benchmark MSCI World Value Net USD Index
Currency Share Classes Available CAD, CHF, EUR, GBP, JPY, NOK, SGD, USD
Management Fee 0.55%
Total Expense Ratio 0.65%
Investment Minimum $1,000,000 initial

Unless otherwise indicated, all listed data represents past performance. There is no guarantee of future performance, nor are fund shares guaranteed. Funds are issued by Payden & Rygel Global, Ltd., which is authorised and regulated by the Financial Conduct Authority. The investment products and services of Payden & Rygel are not available in the United Kingdom to private investors. The value of an investment may fall as well as rise and an investor may get back less than the amount that has been invested. Income from an investment may fluctuate in value in money terms. Changes in rates of exchange may cause the value of an investment to go up or down.

Portfolio Characteristics
Fund Inception Date Jun 21, 2017
Total Net Assets $60.6 million
Country Breakdown
Country Percent of Portfolio
United States78.0%
Euroland8.0%
Japan5.0%
Canada4.0%
Switzerland3.0%
United Kingdom2.0%
Sector Breakdown
Sector Percent of Portfolio
Financials20%
Health Care18%
Industrials13%
Technology11%
Consumer Staples9%
Energy7%
Communication Services6%
Consumer Discretionary5%
Real Estate4%
Utilities4%
Other3%
Total 100%

Unless otherwise indicated, all listed data represents past performance. There is no guarantee of future performance, nor are fund shares guaranteed. Funds are issued by Payden & Rygel Global, Ltd., which is authorised and regulated by the Financial Conduct Authority. The investment products and services of Payden & Rygel are not available in the United Kingdom to private investors. The value of an investment may fall as well as rise and an investor may get back less than the amount that has been invested. Income from an investment may fluctuate in value in money terms. Changes in rates of exchange may cause the value of an investment to go up or down.


Total Returns
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Quarter-end (12/31/2022) -8.00% -8.00% 3.16% 4.19% N/A 5.11%
Month-end (12/31/2022) -8.00% -8.00% 3.16% 4.19% N/A 5.11%
Yearly Returns
2022-8.00%
202124.21%
2020-3.93%
201926.52%
2018-11.60%
20177.33%
Expenses
Management Fee 0.55%
Total Expense Ratio 0.65%

Unless otherwise indicated, all listed data represents past performance. There is no guarantee of future performance, nor are fund shares guaranteed. Funds are issued by Payden & Rygel Global, Ltd., which is authorised and regulated by the Financial Conduct Authority. The investment products and services of Payden & Rygel are not available in the United Kingdom to private investors. The value of an investment may fall as well as rise and an investor may get back less than the amount that has been invested. Income from an investment may fluctuate in value in money terms. Changes in rates of exchange may cause the value of an investment to go up or down.

Fund Commentary

MARKET
Global equities rebounded sharply for the fourth quarter (MSCI World Index, net in USD: +9.8%, MSCI World Value Index, net in USD: +14.7%), ending the volatile year of 2022 down -18.1% and -6.5% respectively.
Investor sentiment turned positive as inflation data continued to trend lower, corporate quarterly earnings were better than feared, and increased optimism surrounded China reopening their economy.
Sectors that were most cyclical energy (+19.8%), industrials (+18.0%), and materials (+17.3%) led markets higher, while growth-oriented sectors technology (+5.2%), communications (+0.5%), and consumer discretionary (-2.3%) were the market laggards.

OUTLOOK
We are cautiously optimistic on equities for 2023 as corporate fundamentals remain sound with earnings still expected to grow for the coming year and companies remain flush with cash, while valuations are near a 20-year average. However, volatility should remain elevated as the focus remains on macro-related factors.
We are targeting higher-quality companies/sectors (i.e., health care, energy, insurance) with healthy balance sheets and stable cash flows that can weather this uncertain economic and market environment.
Given our outlook for weaker growth prospects for equities, we believe investors will continue to look towards dividend payers that offer attractive yields with growth potential to help mitigate higher inflation and dampen portfolio volatility.

Unless otherwise indicated, all listed data represents past performance. There is no guarantee of future performance, nor are fund shares guaranteed. Funds are issued by Payden & Rygel Global, Ltd., which is authorised and regulated by the Financial Conduct Authority. The investment products and services of Payden & Rygel are not available in the United Kingdom to private investors. The value of an investment may fall as well as rise and an investor may get back less than the amount that has been invested. Income from an investment may fluctuate in value in money terms. Changes in rates of exchange may cause the value of an investment to go up or down.