NAV ($)
NAV change ($) as of 5/25/2018
The fund invests primarily in 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.
Large-Capitalization Value – Appropriate for conservative equity investors who seek current income and moderate exposure to equity markets.
| Seeks to provide current income and equity market participation through a variety of stocks, sectors and security types such as common and preferred stocks, master limited partnerships (MLPs) and real estate investment trusts (REITs) | |
| Expects a large component of the total return to come from dividends | |
| Seeks to achieve lower volatility and better risk-adjusted returns than competitors and the broad market | |
| Fund price may fall when the U.S. stock market declines |
| Fund Inception Date | Nov 1, 1996 |
| Share Class Inception Date | Nov 1, 1996 |
| Ticker | PYVLX |
| CUSIP | 704329739 |
| Fund Total Net Assets | $1,159.7 million |
| Benchmark | Russell 1000 Value Index |
| Net Expense Ratio | 0.80% |
| Sales Charge | None |
| Investment Minimum | |
| Investor Class - Regular Account | $100,000 |
| Investor Class - IRA | $100,000 |
| Advisor Class - Regular Account | $5,000 |
| Advisor Class | $2,000 |
| SI Class | $50,000,000 |
| Additional Investment - All Classes | $250 |
| Payden Equity Income Fund (PYVLX) | Morningstar average: Large Value |
|
|---|---|---|
| Net Expense Ratio | 0.80% | 1.12% |
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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.
To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; read the prospectus carefully before investing. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, higher volatility. The Paydenfunds are distributed through Payden & Rygel Distributors, member FINRA.
The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.
| Fund Inception Date | Nov 1, 1996 |
| Share Class Inception Date | Nov 1, 1996 |
| Total Net Assets | $1,159.7 million |
| Average Duration | N/A |
| Average Maturity | N/A |
| 30-Day SEC Yield (05/18/18) | 2.25% |
| 30-Day SEC Yield (unsubsidized) | 2.29% |
| Top Holdings | Sector |
|---|---|
| Cisco Systems | Information Technology |
| JPMorgan Chase | Financials |
| Lockheed Martin | Industrials |
| Enterprise Products Partners | Energy |
| Intel | Information Technology |
| Microsoft | Information Technology |
| Magellan Midstream Partners | Energy |
| Merck & Co | Health Care |
| Texas Instruments | Information Technology |
| Pfizer | Health Care |
| Sector | Percent of Portfolio |
|---|---|
| Financials | 21% |
| Technology | 16% |
| Energy | 15% |
| Health Care | 10% |
| Industrials | 9% |
| Consumer Discretionary | 9% |
| Consumer Staples | 5% |
| Utilities | 5% |
| Real Estate | 5% |
| Other | 5% |
| Total | 100% |
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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.
To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; read the prospectus carefully before investing. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, higher volatility. The Paydenfunds are distributed through Payden & Rygel Distributors, member FINRA.
The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.
| YTD | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | |
|---|---|---|---|---|---|---|
| Quarter-end (3/31/2018) | -2.35% | 9.47% | 9.10% | 10.46% | 7.60% | 6.69% |
| Month-end (4/30/2018) | -0.96% | 11.03% | 9.44% | 9.97% | 7.30% | 6.73% |
| 2017 | 15.70% |
| 2016 | 14.92% |
| 2015 | 1.75% |
| 2014 | 14.79% |
| 2013 | 22.25% |
| 2012 | 10.04% |
| 2011 | 14.36% |
| 2010 | 12.50% |
| 2009 | 18.70% |
| 2008 | -40.49% |
| Total Annual Operating Expense | 0.80% |
| Net or Actual Operating Expense | 0.80% |
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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.
To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; read the prospectus carefully before investing. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, higher volatility. The Paydenfunds are distributed through Payden & Rygel Distributors, member FINRA.
The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.
| MARKET | |
| The U.S. equity market posted its first quarterly loss in more than two years on rising macro concerns surrounding U.S.-China trade relations and fears of higher interest rates. | |
| Unlike typical risk-off environments, value and high-dividend stocks lagged the broad market, while growth stocks maintained their market leadership. | |
| On a sector level, only information technology (+3.5%) and consumer discretionary (+3.1%) were in positive territory for the quarter, while telecom (-7.5%) and consumer staples (-7.1%) were the biggest laggards. | |
| All dividend security types posted a negative return for the period with preferred stocks posting the best return (-0.4%). | |
| OUTLOOK | |
| We maintain a positive outlook on equities for 2018 as global and corporate earnings growth remain robust. Corporate earnings are expected to grow in the mid double-digits for 2018. | |
| Positive corporate fundamental trends, along with valuations at more reasonable levels, should support higher equity prices. | |
| Dividends should remain intact. Stable corporate profits and record amounts of cash on balance sheets should support increased dividend payouts, especially as corporations begin repatriating large amounts of cash back onshore. | |
| We favor areas that are expected to provide both above-average dividend yields and dividend growth, such as financials and technology stocks. | |
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, go to the Mutual Funds > Performance page on this website, or call 800 572-9336.
To obtain a prospectus or summary prospectus, click on the Prospectuses & Reports link on the right side of this page, or call 800 572-9336. Before investing, investors should consider investment objectives, risks, charges, expenses and other important information, which are contained in these documents; read the prospectus carefully before investing. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, higher volatility. The Paydenfunds are distributed through Payden & Rygel Distributors, member FINRA.
The investment strategy and investment management information presented on this website should not be construed to be formal financial planning advice or the formation of a financial manager/client relationship. Payden.com is an informative website designed to provide information to the general public based on our recommendations of investment management and investment strategies and is not designed to be representative of your own financial needs. Nor does the information contained herein constitute financial management advice. The firm makes no warranty or representation regarding the accuracy or legality of any information contained in this website, and assumes no liability for the use of said information. Be advised that as Internet communications are not always confidential, you provide our website your personal information at your own risk. Please do not make any decisions about any investment management or investment strategy matter without consulting with a qualified professional.