UCITS Funds

Payden US Core Bond Fund (PAYRUSD ID)

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

The Payden US Core Bond Fund enables investors to pick one fund which is diversified across a wide spectrum of fixed-income sectors and maturities. It utilizes the entire range of maturities from cash instruments to 30-year bonds, and it invests in a multitude of sectors, including sovereign bonds, corporate bonds, mortgage-backed securities and asset-backed securities. The average duration of the fund is generally near that of the Barclays Aggregate Index.

Fund Snapshot
Fund Inception Date May 29, 2003
Ticker PAYRUSD ID
ISIN Number IE0032276911
Sedol Number 3227691
Fund Total Net Assets $55.3 million
Benchmark BLOOMBERG BARCLAYS US AGGREGATE BOND INDEX
Currency Share Classes Available CAD, CHF, EUR, GBP, JPY, NOK, SGD, USD
Management Fee 0.32%
Total Expense Ratio 0.40%
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 May 29, 2003
Total Net Assets $55.3 million
Average Duration 5.4 years
Average Maturity 7.9 years
Yield to Maturity (hedged) Yield to Maturity (hedged)
Duration Breakdown
Years Percent of Portfolio
0-110%
1-327%
3-529%
5-79%
7-109%
10+16%
Total 100%
Credit Breakdown
Credit Quality Percent of Portfolio
AAA56%
AA3%
A9%
BBB24%
BB and Below7%
Unrated1%
Total 100%
Sector Breakdown
Sector Percent of Portfolio
Corporates36%
Mortgage-Backed31%
Government/Gov't Related27%
Asset-Backed4%
Municipal Bonds2%
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 (6/30/2019) 6.81% 7.61% 2.64% 2.88% 3.96% 3.56%
Month-end (6/30/2019) 6.81% 7.61% 2.64% 2.88% 3.96% 3.56%
Yearly Returns
2018-1.14%
20174.03%
20162.61%
20150.48%
20146.07%
2013-1.93%
20127.15%
20115.37%
20105.97%
20096.81%
Expenses
Management Fee 0.32%
Total Expense Ratio 0.40%

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
Headline geopolitical news and trade war fears continued to increase concerns about global markets which led bond yields lower.
Despite market volatility, June record strong performance for most credit sectors following significant compression in bond yield differentials relative to U.S. Treasuries.

OUTLOOK
We believe that U.S. economic growth is likely to outpace market expectations despite outstanding U.S. trade tensions, global geopolitical concerns, and eurozone stressors.
Volatility remains elevated given outstanding binary events but we believe the fundamental strength in the U.S. economy and low expected default rates should prevail.

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.