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NAV / Daily Prices
NAV ($)
1.00
NAV Change ($)
0.00
Change %
0.00%
MTD Return
0.17%
YTD Return
Statistics
7-Day SEC YieldA
3.37%
7-Day SEC Yield (Unsubsidized)B
3.23%
Average Maturity
34 Days
Expenses
Total Fund Operating Expenses
0.38%C
With Expense Cap
0.25%
| Total ReturnsE | Quarter-End (03/31/2026) | Month-End (04/30/2026) |
| YTD | 0.86% | 1.14% |
| 1 Year | 3.93% | 3.87% |
| 3 Years |
The 7-day SEC yield represents the annualized income earned by the Fund over a 7-day period. The yield reflects the deduction of the Fund’s operating expenses. Yields will fluctuate and are not a guarantee of future results.
Represents a 7-day SEC Yield without adjusting for fee waivers or expense reimbursements.
Payden & Rygel has contractually agreed to limit Total Annual Fund Operating Expenses After Fee Waiver or Expense Reimbursement to 0.25%. This agreement has a one-year term ending February 28, 2027. Please note that the 0.25% expense level does not include Acquired Fund Fees and Expenses, interest, taxes, and extraordinary expenses.
Quoted performance data represent past performance, which does not guarantee future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. For the most recent month-end performance, which may be higher or lower than that quoted, select this link or call 800 572-9336.
Returns less than one year are not annualized.
Expenses are lower than 59% of the funds reporting expense ratios included in the Morningstar U.S. Money Market - Taxable Category as of March 2026.
Mutual funds are required by the IRS to distribute substantially all realized profits they earn to shareholders on at least an annual basis. If a fund has net gains from the sale of securities, or if it earns dividends or interest from securities, the fund must distribute those earnings to its shareholders. All distributions are taxable, unless an investor's shares are held in a tax-deferred or tax-exempt account such as an IRA. Payden shareholders have the option to receive their distributions in cash or to automatically reinvest the distribution back into the Fund. This information is not intended to provide tax advice. Please consult a qualified tax professional for advice specific to your circumstances. Dividends shown are historical and not guaranteed. Amounts may vary and do not predict future income.
Sector
Percent of Portfolio
Money Markets
46%
Repurchase Agreements
36%
Government/Gov't Related
17%
Mortgage-Backed
1%
| 4.60% |
| 4.57% |
| 5 Years | 3.23% | 3.29% |
| 10 Years | 2.08% | 2.11% |
| Since Inception | 2.14% | 2.15% |
| Returns less than one year are not annualized. All returns are net of fees. |
DividendsG
Dividend
$0.0028
Dividend Reinvest NAV
$1.00
Record Date
04/30/2026
Ex Date
04/30/2026
Payable Date
04/30/2026
Dividends Paid
Monthly, with Daily Accural
Capital GainsG
Short Term
None
Long Term
None
Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
Investor Class - Regular Account
$5,000
Investor Class - IRA Account
$2,000
Additional Investment - All Classes
$250
Fund Inception Date
12/17/1997
Share Class Inception Date
12/17/1997
Share Class
Investor Class
Ticker
PBHXX
CUSIP
704329598
Fund Total Net Assets
As of 04/30/2026
$344.2 Million
Sales Charge
None
Benchmark
Lipper U.S. Govt Money Market Funds
Money Market – Appropriate for investors who require maximum portfolio liquidity and stability of principal.
The Payden Cash Reserves Money Market Fund seeks to provide current income and daily liquidity while maintaining a stable share price of $1.00. The Fund invests at least 99.5% of its total assets in cash, U.S. government debt securities and repurchase agreements that are fully collateralized by cash or U.S. government securities. It may invest up to 0.5% of its total assets in bank, corporate, mortgage-backed, and asset-backed debt securities of U.S. and foreign issuers.
Low annual expense ratio.F
Seeks to maintain a stable share price of $1.00.
Data as of 04/30/2026
Sector
Percent of Portfolio
Money Markets
46%
Repurchase Agreements
36%
Government/Gov't Related
17%
Mortgage-Backed
1%
Data as of 04/30/2026
April was a volatile month with multiple crosscurrents driving market behavior. Geopolitical tensions in the Middle East showed signs of stabilization, although elevated oil prices kept inflation concerns a primary focus. Interest rates initially moved lower amid optimism surrounding ceasefire negotiations, but retraced higher later in the month as progress stalled.
At month-end, the Federal Reserve (Fed) voted to keep policy rates unchanged at Chair Powell’s final Federal Open Market Committee (FOMC) meeting as chairman, though the decision generated the highest level of dissent since 1992. We do not believe the dissents or the upcoming leadership transition pose a threat to Fed independence and continue to expect a path toward rate cuts over the next 12 months.
During the month, money market yields out to one year remained anchored to Fed policy at 3.63%, while longer-term maturities rose modestly by 5 to 8 basis points. The 2-year and the 10-year U.S. Treasury yields ended the month at 3.87% and 4.36%, respectively.
The Secured Overnight Financing Rate (SOFR) – a measure of the overnight secured borrowing rate in the U.S. – was unchanged from March, closing at 3.66%. At month-end, the 3-month term SOFR rate was 3.66%, and the 3-month U.S. Treasury bill closed at 3.67%.
Looking ahead, key risks remain centered on how the conflict in the Middle East evolves. Escalating hostilities and higher energy prices could force a recalibration of inflation and growth expectations, though softer labor market trends continue to support an eventual easing cycle. We maintain a modestly long-duration position, consistent with our expectation that the Fed will begin cutting rates within the next 12 months, while remaining selective on credit through relative-value rotation and disciplined issuer quality, capturing higher yields prudently amid ongoing market uncertainty.
Fund Holdings as of April 30, 2026
Fund Holdings as of March 31, 2026
Fund Holdings as of February 27, 2026
Fund Holdings as of January 31, 2026
Fund Holdings as of December 31, 2025
Fund Holdings as of November 30, 2025
Fund Holdings as of October 31, 2025
Fund Holdings as of September 30, 2025
Fund Holdings August 31, 2025
Fund Holdings as of July 31, 2025
The minimum initial investment may be modified for certain financial intermediaries that submit trades on behalf of underlying investors. Payden Funds’ distributor may lower or waive the minimum initial investment for certain categories of investors at their discretion.
For more information and to obtain a prospectus or summary prospectus, select this link or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses, and other important information, which is contained in these documents; read the prospectus carefully before investing. The Payden Funds are distributed through Payden & Rygel Distributors, member FINRA.
General Risk Disclosures
Money Market Fund Risk: An investment in the money market Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the Fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the Fund. The Fund’s sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
1.32%
PerformanceD
Total ReturnsE
| YTD | 1 Year | 3 Years | 5 Years | 10 Years | Since Inception | |
|---|---|---|---|---|---|---|
| Quarter-End (03/31/2026) | 0.86% | 3.93% | 4.60% | 3.23% | 2.08% | 2.14% |
| Month-End (04/30/2026) | 1.14% | 3.87% | 4.57% | 3.29% | 2.11% | 2.15% |
Returns less than one year are not annualized. All returns are net of fees.
DividendsG
Dividend
$0.0028
Dividend Reinvest NAV
$1.00
Record Date
04/30/2026
Ex Date
04/30/2026
Payable Date
04/30/2026
Dividends Paid
Monthly, with Daily Accural
Capital GainsG
Short Term
None
Long Term
None
Reinvest NAV
None
Record Date
N/A
Ex Date
N/A
Payable Date
N/A
Fund Inception Date
12/17/1997
Share Class Inception Date
12/17/1997
Share Class
Investor Class
Ticker
PBHXX
CUSIP
704329598
Fund Total Net Assets
As of 04/30/2026
$344.2 Million
Sales Charge
None
Benchmark
Lipper U.S. Govt Money Market Funds
Money Market – Appropriate for investors who require maximum portfolio liquidity and stability of principal.
The Payden Cash Reserves Money Market Fund seeks to provide current income and daily liquidity while maintaining a stable share price of $1.00. The Fund invests at least 99.5% of its total assets in cash, U.S. government debt securities and repurchase agreements that are fully collateralized by cash or U.S. government securities. It may invest up to 0.5% of its total assets in bank, corporate, mortgage-backed, and asset-backed debt securities of U.S. and foreign issuers.
Low annual expense ratio.F
Seeks to maintain a stable share price of $1.00.
Investment MinimumH
Investor Class - Regular Account
$5,000
Investor Class - IRA Account
$2,000
Additional Investment - All Classes
$250