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 $40.0 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 $40.0 million
Average Duration 5.3 years
Average Maturity 7.5 years
Yield to Maturity (hedged) Yield to Maturity (hedged)
Duration Breakdown
Years Percent of Portfolio
0-116%
1-314%
3-540%
5-710%
7-106%
10+14%
Total 100%
Credit Breakdown
Credit Quality Percent of Portfolio
AAA50%
AA4%
A8%
BBB29%
BB and Below8%
Unrated1%
Total 100%
Sector Breakdown
Sector Percent of Portfolio
Corporates37%
Mortgage-Backed31%
Government/Gov't Related19%
Money Markets6%
Asset-Backed5%
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 (12/31/2018) -1.14% -1.14% 1.81% 2.38% 3.49% 3.24%
Month-end (2/28/2019) 1.71% 2.39% 2.06% 2.27% 3.67% 3.32%
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
February recorded positive performance for many fixed-income sectors as markets received support from a patient Fed and positive U.S./China trade conversations.
Risk-on sentiment set a positive tone which led to compression of investment-grade corporate, high-yield, and emerging-market bond yield differentials relative to U.S. Treasuries.
The U.S. continues to post strong economic numbers compared to the rest of the world with U.S. GDP beating 2018 estimates at 3.1% and unemployment at historic lows.

OUTLOOK
U.S. economic growth is likely to outpace market expectations despite outstanding U.S. trade tensions, global geo-political concerns, and eurozone stressors.
Volatility remains elevated given outstanding binary event but 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.