PKCIX: Payden/Kravitz Cash Balance Plan Fund - MutualFunds.com

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Payden/Kravitz Cash Balance Plan Instl

PKCIX - Snapshot

Vitals

  • YTD Return -0.4%
  • 3 Yr Annualized Return 2.5%
  • 5 Yr Annualized Return 3.0%
  • Net Assets $159 M
  • Holdings in Top 10 45.9%

52 WEEK LOW AND HIGH

$10.52
$8.68
$10.91

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.44%

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) $5,000,000
  • IRA N/A

Fund Classification


Compare PKCIX to Popular U.S. Short-Term Bond Duration Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$10.99

+0.09%

$66.84 B

2.76%

$0.30

2.42%

0.20%

$82.90

+0.02%

$58.80 B

2.22%

$1.84

2.84%

0.05%

$10.87

+0.09%

$58.80 B

2.10%

$0.23

2.84%

0.15%

$4.18

0.00%

$54.74 B

3.63%

$0.15

-0.71%

0.60%

$82.91

+0.06%

$39.12 B

2.81%

$2.33

2.30%

0.05%

PKCIX - Profile

Distributions

  • YTD Total Return -0.4%
  • 3 Yr Annualized Total Return 2.5%
  • 5 Yr Annualized Total Return 3.0%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 3.36%
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
    Jun 01, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • 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.


PKCIX - Performance

Return Ranking - Trailing

Period PKCIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -8.7% 204.8% 86.90%
1 Yr 0.1% -6.9% 7.9% 96.40%
3 Yr 2.5%* -1.7% 4.7% 66.48%
5 Yr 3.0%* -1.6% 5.6% 15.22%
10 Yr 2.3%* 0.1% 4.3% 28.19%

* Annualized

Return Ranking - Calendar

Period PKCIX Return Category Return Low Category Return High Rank in Category (%)
2019 3.2% -2.4% 5.0% 13.39%
2018 -2.1% -50.6% 1.0% 80.43%
2017 0.9% -1.6% 2.8% 7.20%
2016 N/A -65.8% 7.1% N/A
2015 N/A -75.0% 3.0% N/A

Total Return Ranking - Trailing

Period PKCIX Return Category Return Low Category Return High Rank in Category (%)
YTD -0.4% -8.7% 205.2% 86.90%
1 Yr 0.1% -7.8% 7.9% 92.98%
3 Yr 2.5%* -1.7% 4.7% 57.83%
5 Yr 3.0%* -1.6% 5.6% 13.87%
10 Yr 2.3%* 0.1% 4.3% 26.47%

* Annualized

Total Return Ranking - Calendar

Period PKCIX Return Category Return Low Category Return High Rank in Category (%)
2019 3.2% -2.3% 5.0% 14.11%
2018 -2.1% -4.2% 6.5% 84.50%
2017 0.9% -1.6% 5.9% 21.40%
2016 N/A -65.2% 10.7% N/A
2015 N/A -7.0% 3.5% N/A

NAV & Total Return History


PKCIX - Holdings

Concentration Analysis

PKCIX Category Low Category High PKCIX % Rank
Net Assets 159 M 4.99 M 66.8 B 78.41%
Number of Holdings 341 3 4785 60.74%
Net Assets in Top 10 63.2 M -168 M 7.26 B 68.87%
Weighting of Top 10 45.85% 2.5% 100.0% 20.00%

Top 10 Holdings

  1. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  2. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  3. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  4. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  5. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  6. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  7. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  8. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  9. 3 Year Australian Treasury Bond Future Sept 20 13.54%
  10. 3 Year Australian Treasury Bond Future Sept 20 13.54%

Asset Allocation

Weighting Return Low Return High PKCIX % Rank
Bonds
121.87% 0.00% 174.62% 1.18%
Stocks
0.01% 0.00% 7.11% 8.29%
Preferred Stocks
0.00% 0.00% 52.77% 65.48%
Other
0.00% -4.23% 20.06% 58.54%
Convertible Bonds
0.00% 0.00% 32.87% 97.12%
Cash
-21.88% -77.67% 100.00% 95.94%

Stock Sector Breakdown

Weighting Return Low Return High PKCIX % Rank
Real Estate
18.71% 0.00% 100.00% 14.29%
Healthcare
15.99% 0.00% 100.00% 10.99%
Technology
15.62% 0.00% 16.47% 5.49%
Consumer Defense
10.83% 0.00% 43.36% 8.79%
Utilities
10.71% 0.00% 10.71% 3.30%
Financial Services
9.24% 0.00% 100.00% 18.68%
Industrials
5.65% 0.00% 100.00% 13.19%
Consumer Cyclical
4.91% 0.00% 100.00% 25.27%
Communication Services
4.75% 0.00% 96.60% 15.38%
Energy
3.58% 0.00% 100.00% 45.05%
Basic Materials
0.00% 0.00% 17.50% 67.03%

Stock Geographic Breakdown

Weighting Return Low Return High PKCIX % Rank
US
0.01% 0.00% 6.90% 6.77%
Non US
0.00% 0.00% 0.21% 60.24%

Bond Sector Breakdown

Weighting Return Low Return High PKCIX % Rank
Securitized
43.13% 0.00% 86.18% 16.58%
Government
27.32% 0.00% 77.61% 29.95%
Corporate
18.23% 0.00% 100.00% 81.22%
Derivative
6.16% 0.00% 37.09% 3.89%
Cash & Equivalents
5.17% 0.00% 100.00% 58.88%
Municipal
0.00% 0.00% 15.94% 81.56%

Bond Geographic Breakdown

Weighting Return Low Return High PKCIX % Rank
US
89.28% 0.00% 143.57% 20.98%
Non US
32.59% -20.17% 78.67% 2.71%

PKCIX - Expenses

Operational Fees

PKCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.44% 0.01% 34.57% 17.04%
Management Fee 1.10% 0.00% 1.19% 99.66%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.50% 76.42%

Sales Fees

PKCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.00% 5.75% N/A
Deferred Load N/A 0.50% 5.00% N/A

Trading Fees

PKCIX 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.

PKCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 84.00% 0.00% 496.37% 62.61%

PKCIX - Distributions

Dividend Yield Analysis

PKCIX Category Low Category High PKCIX % Rank
Dividend Yield 0.00% 0.00% 3.94% 60.74%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PKCIX Category Low Category High PKCIX % Rank
Net Income Ratio 3.36% -9.96% 4.42% 3.58%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

PKCIX - Fund Manager Analysis

Managers

Mary Syal


Start Date

Tenure

Tenure Rank

Sep 22, 2008

12.03

12.0%

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

11.6

11.6%

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

11.6

11.6%

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.

Michael Salvay


Start Date

Tenure

Tenure Rank

Feb 28, 2020

0.59

0.6%

Michael Salvay, CFA, is a Managing Principal at Payden & Rygel. He is a member of the firm’s Investment Policy Committee and serves as Senior Portfolio Manager advising public pension plans, endowments and universities and corporations. He directs the core bond architecture group and has extensive experience in developing customized mandates for active and passive index replication portfolios as well as hedging programs. Salvay is also a trustee of The Payden & Rygel Investment Group, the sponsor of the Paydenfunds, for which Payden & Rygel is the investment advisor. Prior to joining Payden & Rygel, Salvay was a Senior Portfolio Manager at Dewey Square Investors in Boston, where he specialized in mortgage-backed securities and duration immunization strategies. Michael Salvay holds the Chartered Financial Analyst designation and is a member of the CFA Institute. He earned an MBA from the Amos Tuck School at Dartmouth College and a BA in Economics from the University of California, San Diego.

Eric Souders


Start Date

Tenure

Tenure Rank

Feb 28, 2020

0.59

0.6%

Eric Souders, CFA®, is a Director and portfolio manager on the global unconstrained fixed income team with a focus on absolute return solutions. In this capacity, he is responsible for idea generation, strategy implementation, and risk management. Prior to joining Payden & Rygel, Souders worked as a Portfolio Manager at Guggenheim Partners, focusing on multi-sector and structured product dedicated strategies. In addition, he worked as a Portfolio Manager at Blackrock, focusing on investment-grade corporate credit strategies. Previously, he worked at BNY Mellon in their Wealth Management division. Eric Souders holds the Chartered Financial Analyst® designation, and is a member of the CFA® Society of Los Angeles and the CFA® Institute. He earned a BA in Business-Finance at California State University, Fullerton.

James Wong


Start Date

Tenure

Tenure Rank

Feb 28, 2020

0.59

0.6%

James Wong, CFA, is a Managing Principal and portfolio manager who has been with Payden & Rygel since 1995. He has worked with the two products since their inception. Wong has over 15 years of equity portfolio management experience, during which he has managed the breadth of equity styles and market capitalizations. He has extensive experience managing long/short portfolios, creating hedging strategies using derivatives and developing customized investment solutions for client specific needs. Wong is also a member of the Investment Policy Committee. Prior to joining Payden & Rygel, Wong was a trader at the Union Bank of Switzerland where he focused on mortgage-backed securities. Previously, he was in the mergers and acquisitions group at Salomon Brothers Inc., focusing on financial institutions. Wong holds the Chartered Financial Analyst designation and the FINRA series 7, 3 and 63 licenses. He earned an MBA degree from The Anderson School at the University of California, Los Angeles with an emphasis in finance. Wong received a BS degree in Finance from The Wharton School at the University of Pennsylvania.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 27.67 5.98 0.75