PKCBX: Payden/Kravitz Cash Balance Plan Adviser

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PKCBX Payden/Kravitz Cash Balance Plan Adviser


Profile

PKCBX - Profile

Vitals

  • YTD Return -12.6%
  • 3 Yr Annualized Return -4.6%
  • 5 Yr Annualized Return -2.9%
  • Net Assets $187 M
  • Holdings in Top 10 39.0%

52 WEEK LOW AND HIGH

$8.93
$8.39
$10.56

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.69%

SALES FEES

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

BROKERAGE FEES

  • Turnover 84.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $25,000
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Short-Term Bond

Distributions

  • YTD Total Return -12.9%
  • 3 Yr Annualized Total Return -4.7%
  • 5 Yr Annualized Total Return -3.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.81%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Payden/Kravitz Cash Balance Plan Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Sep 22, 2008
  • Shares Outstanding
    N/A
  • Share Class
    Adv
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Mary Syal

Fund Description

The fund is designed as an investment vehicle for cash balance pension plans. It seeks to earn a total return, net of fees and expenses, that is equivalent to the interest crediting rate established by the Internal Revenue Service for cash balance pension plans using the 30-year U.S. Treasury Bond Yield. The fund seeks to earn this rate each calendar year. It invests at least 80% of its total assets in a wide variety of debt instruments and income-producing securities.


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Categories

Performance

PKCBX - Performance

Return Ranking - Trailing

Period PKCBX Return Category Return Low Category Return High Rank in Category (%)
YTD -12.6% -19.7% 1.0% 96.55%
1 Yr -12.9% -21.9% 3.7% 96.41%
3 Yr -4.6%* -8.2% 1.3% 95.60%
5 Yr -2.9%* -21.2% 1.8% 95.92%
10 Yr -1.5%* -11.2% 2.2% 96.04%

* Annualized

Return Ranking - Calendar

Period PKCBX Return Category Return Low Category Return High Rank in Category (%)
2019 2.6% -6.6% 4.9% 26.94%
2018 -2.5% -4.1% 1.0% 90.18%
2017 0.3% -0.7% 2.8% 32.48%
2016 0.8% -65.8% 7.1% 28.76%
2015 -1.5% -6.6% 3.0% 51.02%

Total Return Ranking - Trailing

Period PKCBX Return Category Return Low Category Return High Rank in Category (%)
YTD -12.9% -20.1% 1.0% 96.55%
1 Yr -13.2% -22.3% 3.7% 96.41%
3 Yr -4.7%* -7.9% 2.2% 95.60%
5 Yr -3.0%* -19.7% 2.0% 95.92%
10 Yr -1.6%* -9.6% 2.3% 96.04%

* Annualized

Total Return Ranking - Calendar

Period PKCBX Return Category Return Low Category Return High Rank in Category (%)
2019 2.6% -6.6% 4.9% 32.12%
2018 -2.5% -4.1% 3.2% 94.48%
2017 0.3% -0.7% 4.7% 46.50%
2016 0.8% -65.2% 8.4% 40.52%
2015 -1.5% -5.3% 3.1% 61.22%

NAV & Total Return History


Holdings

PKCBX - Holdings

Concentration Analysis

PKCBX Category Low Category High PKCBX % Rank
Net Assets 187 M 272 K 64 B 71.98%
Number of Holdings 394 6 2087 54.23%
Net Assets in Top 10 55.1 M -5.43 M 6.66 B 65.67%
Weighting of Top 10 38.99% 5.8% 99.5% 18.52%

Top 10 Holdings

  1. 3 Year Australian Treasury Bond Future Mar 20 10.37%
  2. 2 Year Treasury Note Future Mar 20 10.08%
  3. 5 Year Treasury Note Future Mar 20 8.19%
  4. Future on Euro Bobl Future Dec 19 3.20%
  5. Bond-Unsettled Purchases 1.86%
  6. Structured Asset Mortgage Inv Inc 1.87% 1.19%
  7. CONNECTICUT AVENUE SECURITIES TRUST 3.81% 1.14%
  8. Federal Home Loan Mortgage Corporation 4.06% 1.03%
  9. Federal Home Loan Mortgage Corporation 4.11% 0.97%
  10. Jp Morgan Mtg Tr 2017-5 3.15% 0.96%

Asset Allocation

Weighting Return Low Return High PKCBX % Rank
Bonds
120.04% 22.39% 144.98% 7.46%
Convertible Bonds
1.27% 0.00% 5.54% 52.24%
Stocks
0.01% 0.00% 7.28% 9.45%
Preferred Stocks
0.00% 0.00% 37.76% 74.63%
Other
0.00% -0.56% 13.40% 75.62%
Cash
-21.33% -54.63% 77.61% 94.53%

Stock Sector Breakdown

Weighting Return Low Return High PKCBX % Rank
Technology
23.38% 0.00% 23.38% 11.11%
Financial Services
15.66% 0.00% 32.86% 41.67%
Healthcare
13.60% 0.00% 14.95% 19.44%
Consumer Cyclical
11.76% 0.00% 100.00% 38.89%
Industrials
10.39% 0.00% 100.00% 47.22%
Consumer Defense
8.10% 0.00% 32.88% 25.00%
Energy
4.51% 0.00% 100.00% 50.00%
Utilities
3.59% 0.00% 3.59% 11.11%
Communication Services
3.44% 0.00% 18.73% 27.78%
Real Estate
3.21% 0.00% 63.23% 16.67%
Basic Materials
2.37% 0.00% 14.65% 25.00%

Stock Geographic Breakdown

Weighting Return Low Return High PKCBX % Rank
US
0.01% 0.00% 7.10% 6.97%
Non US
0.00% 0.00% 0.18% 72.64%

Bond Sector Breakdown

Weighting Return Low Return High PKCBX % Rank
Securitized
44.90% 0.00% 71.03% 15.92%
Government
25.67% -3.22% 61.46% 23.88%
Corporate
19.57% 2.17% 93.48% 83.58%
Derivative
7.48% -0.09% 32.63% 13.43%
Cash & Equivalents
2.39% 0.15% 77.61% 89.05%
Municipal
0.00% 0.00% 14.85% 94.03%

Bond Geographic Breakdown

Weighting Return Low Return High PKCBX % Rank
US
88.36% 0.00% 131.08% 10.95%
Non US
31.68% 0.00% 90.78% 5.97%

Expenses

PKCBX - Expenses

Operational Fees

PKCBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.69% 0.02% 43.40% 21.83%
Management Fee 1.10% 0.00% 1.19% 99.52%
12b-1 Fee 0.25% 0.00% 1.00% 46.15%
Administrative Fee 0.15% 0.05% 0.41% 64.86%

Sales Fees

PKCBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.75% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

PKCBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

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.

PKCBX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 84.00% 0.00% 496.37% 69.44%

Distributions

PKCBX - Distributions

Dividend Yield Analysis

PKCBX Category Low Category High PKCBX % Rank
Dividend Yield 0.00% 0.00% 1.88% 83.09%

Dividend Distribution Analysis

PKCBX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Monthly Monthly

Net Income Ratio Analysis

PKCBX Category Low Category High PKCBX % Rank
Net Income Ratio 2.81% -2.82% 4.10% 26.40%

Capital Gain Distribution Analysis

PKCBX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

PKCBX - Fund Manager Analysis

Managers

Mary Syal


Start Date

Tenure

Tenure Rank

Sep 22, 2008

11.44

11.4%

Mary Beth Syal, CFA, is a managing principal at Payden & Rygel and a member of the Executive Committee of the board of directors. Syal is a member of the firm's Investment Policy Committee. She directs the firm‟s low duration strategies and also serves as a senior portfolio manager advising corporations, insurance companies and family offices. She is a trustee of The Payden & Rygel Investment Group, the sponsor of the Paydenfunds, for which Payden & Rygel is the investment adviser. Prior to joining Payden & Rygel, Syal was a portfolio manager and strategist at Amervest Company, Inc., where she was the co-chair of the Investment Strategy Committee. Mary Beth Syal is a member of the CFA Society of Los Angeles and the CFA Institute, the Los Angeles Association of Investment Women. In addition, she serves on the Investment Committee of the Western Province of the Religious of the Sacred Heart of Mary and is a member of the Investment Review Committee for St. Joseph Health System. Syal holds the Chartered Financial Analyst designation. She earned a BA degree in Government from Smith College in Northampton, Massachusetts.

Scott Weiner


Start Date

Tenure

Tenure Rank

Feb 27, 2009

11.01

11.0%

Scott Weiner, PhD, is a managing principal at Payden & Rygel and a member of the Executive Committee that manages the firm. Weiner is also a member of the firm’s Investment Policy Committee which directs investment strategy and monitors the risk controls for the firm and its clients. As a frequent speaker at industry forums, he specializes in topics relating to asset allocation, risk management and international investing. Prior to joining Payden & Rygel, Weiner was a senior strategy member of the investment arm of First Interstate. More previously, he was with Goldman Sachs in New York as one of the strategists in the 1980s developing expertise in the mortgage market. Scott Weiner earned a PhD in Pharmaceutical Chemistry from the University of California, San Francisco focusing on theoretical macromolecular biophysical chemistry. He received an AB degree in Mathematics from Occidental College in Los Angeles.

Brian Matthews


Start Date

Tenure

Tenure Rank

Feb 27, 2009

11.01

11.0%

Brian Matthews, CFA, is a managing principal and the chief financial officer at Payden & Rygel, and is a member of the Executive Committee of the board of directors. Matthews is a member of the firm’s Investment Policy Committee and serves as a senior portfolio manager advising institutional clients, including corporations, pension funds, insurance companies and foundations and endowments. He is a director of Metzler/Payden LLC, the firm’s joint venture with Metzler Bank of Frankfurt, Germany. Matthews is also co-chairman of Payden/Kravitz LLC, a joint venture specializing in cash balance retirement plans. Prior to joining Payden & Rygel, Matthews was an investment officer at Brown Brothers Harriman & Company in New York, where he was responsible for managing fixed-income portfolios and asset/liability management. Matthews is a member of the CFA Society of Los Angeles, the CFA Institute and the Investment Counsel Association of America, Inc. He is past chairman of the board of directors for the Boy Scouts of America Los Angeles Area Council and serves on the board of directors for Oaks Christian School, St. Anne’s, Kids in Sports, and the board of visitors for Pepperdine University and is a board member of the Patron of the Arts in the Vatican Museums. Brian Matthews holds the Chartered Financial Analyst designation. He earned a BS in Economics at the University of Notre Dame.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 23.75 5.35 3.08