UCITS Funds

Payden Global Equity Income Fund (PYGEIUA ID)

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 ID
ISIN Number IE00BYQJ9894
Sedol Number BYQJ989
Fund Total Net Assets $60.5 million
Benchmark MSCI World Value 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 $60.5 million
Country Breakdown
Country Percent of Portfolio
United States70.0%
Euroland10.0%
United Kingdom9.0%
Switzerland4.0%
Japan3.0%
Scandinavia1.0%
Australia1.0%
Canada1.0%
Hong Kong1.0%
Sector Breakdown
Sector Percent of Portfolio
Health Care18%
Financials15%
Energy10%
Industrials9%
Consumer Staples9%
Utilities9%
Technology8%
Real Estate7%
Communication Services6%
Consumer Discretionary5%
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 (9/30/2019) 19.64% 6.09% N/A N/A N/A 5.72%
Month-end (10/31/2019) 21.69% 13.66% N/A N/A N/A 6.27%
Yearly Returns
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 (MSCI World Index, net in USD) rallied +2.5% for October and are now up +20.6% for the year.
Market sentiment continued to improve on reduced macro concerns (US-China trade, Brexit) and better-than-expected third-quarter corporate earnings results.
Accommodative central banks have spurred a risk-on environment, which helped justify current equity valuations.
The best performing sectors were health care (+5.0%) and info tech (+3.9%), while energy (-1.6%) and consumer staples (-0.3%) were the worst performers.

OUTLOOK
Positive expected GDP growth and earnings growth support higher equity prices in the next 12 months, but we expect volatility to pick up due to elevated macro risks.
Dividend stocks are well-positioned to perform well in this low-rate and low-growth environment as dividends should be a major source of total returns.
The US continues to offer the best combination of positive economic, earnings, and dividend growth.
Europe trades at attractive valuations, but political uncertainties and below-trend GDP growth continue to weigh on investor risk sentiment.

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.