UCITS Funds

Payden Global Equity Income Fund (PYGEIUA)

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

The 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
ISIN Number IE00BYQJ9894
Sedol Number BYQJ989
Fund Total Net Assets $47.3 million
Benchmark
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 $47.3 million
Country Breakdown
Country Percent of Portfolio
United States52.0%
Euroland12.0%
United Kingdom11.0%
Japan9.0%
Canada5.0%
Switzerland4.0%
Scandinavia3.0%
Hong Kong2.0%
Australia2.0%
Sector Breakdown
Sector Percent of Portfolio
Financials26%
Technology13%
Health Care11%
Energy11%
Industrials9%
Consumer Staples6%
Consumer Discretionary6%
Telecomm5%
Real Estate5%
Utilities4%
Total 96%

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 (3/31/2018) -3.12% N/A N/A N/A N/A 3.97%
Month-end (4/30/2018) -1.83% N/A N/A N/A N/A 5.36%
Yearly Returns
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 (MSCI World Index) posted a gain of +1.1% for April, which was the first monthly gain in three months.
Despite market headwinds surrounding trade tension and higher interest rates, strong corporate earnings growth and increased oil prices provided a positive boost to investor sentiment.
On a sector level, energy (+9.4%) and utilities (+2.6%) were the best performers, while consumer staples (-1.9%) and industrials (-0.7%) were the worst performers.
Most dividend security types posted positive returns for April, despite higher global interest rates. Master limited partnerships led the group after posting a gain of +8.1%, while preferred stocks was the only sector that posted a loss.

OUTLOOK
We maintain a positive outlook on equities for 2018 based on our global GDP growth expectation of above 3% and the positive momentum in corporate earnings growth.
Valuation multiples remain modestly above historical averages, but have contracted since the start of the year. We view this as a buying opportunity as corporate fundamentals are expected to further improve with 2018 earnings expected to grow in the double digits.
Dividends should be intact. Stable corporate profits and record amounts of cash on balance sheets should support increased dividend payouts.
We favour areas that we expect to provide both above-average dividend yields and dividend growth, such as financials and technology stocks.

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.