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PYEWX Payden Emerging Markets Bond Adviser

  • Fund
  • PYEWX
  • Price as of: Aug 08, 2016
  • $14.06
  • + $0.04
  • + 0.29%
  • Category
  • Emerging Markets Bonds

PYEWX - Profile

Vitals

  • YTD Return 10.2%
  • 3 Yr Annualized Return 5.5%
  • 5 Yr Annualized Return 4.9%
  • Net Assets $1.12 B
  • Holdings in Top 10 13.0%

52 WEEK LOW AND HIGH

$14.06
$12.44
$14.06

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.01%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 54.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$5,000

IRA

$2,000

Investment Themes

CATEGORY

Emerging Markets Bonds
  • Fund Type Open End Mutual Fund
  • Investment Style Emerging Markets Bond

Distributions

  • YTD Total Return 10.2%
  • 3 Yr Annualized Total Return 5.5%
  • 5 Yr Annualized Total Return 4.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.73%
DIVIDENDS
  • Dividend Yield 0.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Payden Emerging Markets Bond Fund
  • Fund Family Name Paydenfunds
  • Inception Date Nov 02, 2009
  • Shares Outstanding N/A
  • Share Class Adv
  • Currency USD
  • Domiciled Country United States
  • Manager Kristin Ceva

Fund Description

Under normal market conditions, the fund invests at least 80% of its total assets in debt securities and similar debt instruments issued by governments, agencies and instrumentalities of emerging market countries (or economically linked with such securities), and other issuers organized, headquartered or principally located in emerging market countries. The fund is non-diversified.

PYEWX - Performance

Return Ranking - Trailing

Period PYEWX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 10.2% -16.1% 241.2% 36.15% 3
1 Yr 9.5% -22.3% 16.8% 18.60% 1
3 Yr 5.5% * -6.9% 7.7% 9.89% 1
5 Yr 4.9% * -5.7% 8.6% 16.95% 1
10 Yr 6.9% * 1.6% 9.4% 40.58% 2

* Annualized


Return Ranking - Calendar

Period PYEWX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.7% -26.3% 3.0% 21.69% 2
2014 N/A -2.1% -0.1% N/A N/A
2013 N/A -12.4% -11.1% N/A N/A
2012 N/A 12.4% 12.5% N/A N/A
2011 N/A 0.1% 1.2% N/A N/A

Total Return Ranking - Trailing

Period PYEWX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 10.2% -16.1% 241.2% 36.83% 3
1 Yr 9.5% -25.4% 16.8% 13.95% 1
3 Yr 5.5% * -7.7% 7.5% 8.75% 1
5 Yr 4.9% * -5.7% 8.3% 14.69% 1
10 Yr 6.9% * 1.6% 9.2% 37.68% 2

* Annualized


Total Return Ranking - Calendar

Period PYEWX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -5.7% -26.3% 3.0% 23.00% 2
2014 N/A -2.1% -0.1% N/A N/A
2013 N/A -10.7% -10.7% N/A N/A
2012 N/A 13.4% 15.3% N/A N/A
2011 N/A 0.4% 2.0% N/A N/A

NAV & Total Return History

PYEWX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

PYEWX Category Low Category High PYEWX % Rank Quintile
Net Assets 1.12 B 2.46 M 5.35 B 4.94% 1
Number of Holdings 253 2 914 6.98% 2
Net Assets in Top 10 141 M -5.02 M 1.75 B 5.52% 1
Weighting of Top 10 13.0% 0.0% 279.7% 27.62% 5

Top 10 Holdings

  1. Argentine Republic 8.28% 1.70%
  2. Honduras Government International Bond 1.47%
  3. Panama Rep 6.7% 1.36%
  4. Republica Oriental Del Uruguay 4.375% 1.33%
  5. Kenya Rep 5.875% 1.28%
  6. Dominican Rep 7.45% 1.23%
  7. Armenia Rep 6% 1.23%
  8. Indonesia Rep 8.5% 1.17%
  9. Sri Lanka Govt Democratic 5.875% 1.11%
  10. Argentina Rep 1.33% 1.07%

Asset Allocation

Weighting Category Low Category High PYEWX % Rank Quintile
Bonds
98.34% 0.00% 119.20% 2.62% 1
Other
1.52% -13.73% 16.75% 10.47% 2
Cash
0.14% -87.13% 112.67% 27.91% 5
Convertible Bonds
0.00% 0.00% 1.55% 3.78% 2
Preferred Stocks
0.00% 0.00% 1.40% 1.16% 1
Stocks
0.00% -1.55% 99.95% 3.20% 2

Bond Sector Breakdown

Weighting Category Low Category High PYEWX % Rank Quintile
Government
73.68% 0.00% 103.20% 4.94% 1
Corporate
22.69% 0.00% 91.17% 16.57% 3
Cash & Equivalents
0.01% -48.84% 112.67% 27.91% 5
Securitized
0.00% 0.00% 23.66% 8.14% 2
Municipal
0.00% 0.00% 2.73% 8.14% 3
Derivative
0.00% -20.04% 28.56% 6.40% 2

Bond Geographic Breakdown

Weighting Category Low Category High PYEWX % Rank Quintile
Non US
98.08% 0.00% 202.66% 4.65% 1
US
0.26% -143.41% 64.68% 13.95% 3

PYEWX - Expenses

Operational Fees

PYEWX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.01% 0.29% 35.45% 49.42% 1
Management Fee 0.45% 0.28% 1.30% 9.88% 1
12b-1 Fee 0.25% 0.00% 1.00% 3.74% 2
Administrative Fee 0.15% 0.01% 0.65% 5.56% 4

Sales Fees

PYEWX Fees (% of AUM) Category Low Category High PYEWX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 0.75% 5.50% N/A N/A

Trading Fees

PYEWX Fees (% of AUM) Category Low Category High PYEWX Rank Quintile
Max Redemption Fee 2.00% 0.75% 2.00% 1.00% 2

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PYEWX Fees (% of AUM) Category Low Category High PYEWX Rank Quintile
Turnover 54.00% 15.00% 605.00% 18.37% 2

PYEWX - Distributions

Dividend Yield Analysis

PYEWX Category Low Category High PYEWX % Rank Quintile
Dividend Yield 0.6% 0.00% 3.24% 12.96% 1

Dividend Distribution Analysis

PYEWX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

PYEWX Category Low Category High PYEWX % Rank Quintile
Net Income Ratio 4.73% -0.29% 8.90% 34.59% 3

Capital Gain Distribution Analysis

PYEWX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Annually

PYEWX - Managers

Kristin Ceva

Manager

Start Date

Dec 17, 1998

Tenure

17.63

Tenure Rank

0.5%

Kristin Ceva, PhD, CFA, is a managing principal and directs the global fixed-income group at Payden & Rygel. She oversees global sovereign debt strategies, including macroeconomic and political risk assessment to determine country allocation. Ceva is a member of the firm’s Investment Policy Committee. She also is a frequent speaker at industry forums, focusing on topics related to international investing and emerging markets. Prior to joining Payden & Rygel, Ceva worked with a number of international policy institutes, including the Pacific Council on International Policy, the Center for U.S.-Mexican Studies and the North America Forum at Stanford University. She also worked for several years in strategic management consulting with Deloitte & Touche in Dallas. Kristin Ceva holds the Chartered Financial Analyst designation. She earned a PhD from Stanford University in Political Science with an emphasis on international political economy. She was a Fulbright Scholar based in Mexico City and her dissertation was entitled “Economic Restructuring and Business-Government Relations: Trade and Financial Liberalization in Mexico.” Ceva has completed extensive economic and political research on emerging markets and is fluent in Spanish. She received a BBA in Finance from Texas A&M University.


Arthur Hovsepian

Manager

Start Date

Feb 28, 2013

Tenure

3.42

Tenure Rank

7.2%

Arthur Hovsepian is the emerging-market local bond and currency strategist in the global fixed-income group at Payden & Rygel. He is responsible for implementing investment strategies and executing trades in emerging markets. Hovsepian analyzes sovereign yield curves to identify relative value opportunities. He also monitors firm-wide emerging-market local debt and currency exposure. Mr. Hovsepian has been with Payden since 2004 and in the investment management business for 20 years.


Vladimir Milev

Manager

Start Date

Feb 28, 2013

Tenure

3.42

Tenure Rank

7.2%

Vladimir Milev, Senior Vice President and portfolio manager of Payden & Rygel. Mr. Milev has been with Payden and in the investment management business since 2003


Tenure Analysis

Category Low

0.0

Category High

22.3

Category Average

3.85

Category Mode

1.6