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 $56.7 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 $56.7 million
Country Breakdown
Country Percent of Portfolio
United States69.0%
Euroland11.0%
United Kingdom8.0%
Switzerland4.0%
Japan3.0%
Scandinavia2.0%
Australia1.0%
Canada1.0%
Hong Kong1.0%
Sector Breakdown
Sector Percent of Portfolio
Health Care18%
Financials17%
Industrials10%
Energy10%
Consumer Staples9%
Utilities8%
Technology7%
Real Estate7%
Communication Services6%
Consumer Discretionary5%
Total 97%

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 (12/31/2019) 26.52% 26.52% N/A N/A N/A 7.48%
Month-end (12/31/2019) 26.52% 26.52% N/A N/A N/A 7.48%
Yearly Returns
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 (MSCI World Index, net in USD) posted a gain of +8.6% for the fourth quarter of 2019 and ended the year with their best calendar year return (+27.7%) in 10 years.
Equity prices surged to new record highs and interest rates climbed off their lows as reduced global trade tension and accommodative central bank policies drove global growth and corporate earnings growth expectations higher.
The favourable macro environment benefited the higher growth sectors such as info tech (+14.1%) and health care (+13.8%), while defensive sectors such as REITs (+1.4%) and utilities (+2.2%) lagged the broad equity market.

OUTLOOK
We are positive on equities for 2020 as global growth is expected to rebound and central banks remain accommodative, which should provide a boost to corporate profits and support higher equity prices.
Market volatility should pick up with macro risks likely to stay elevated driven by the upcoming US presidential election and global trade uncertainties
We are targeting companies with above-market dividend yields and dividend growth (health care and REITs) as we believe dividends will help dampen volatility and should be a major source of total returns in this low-rate and low-growth market environment.
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.