PKCRX: Payden/Kravitz Cash Balance Plan Retire

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PKCRX Payden/Kravitz Cash Balance Plan Retire


Profile

PKCRX - Profile

Vitals

  • YTD Return 1.2%
  • 3 Yr Annualized Return -0.1%
  • 5 Yr Annualized Return -0.3%
  • Net Assets $191 M
  • Holdings in Top 10 39.0%

52 WEEK LOW AND HIGH

$9.84
$9.70
$10.06

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.94%

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 1.2%
  • 3 Yr Annualized Total Return -0.1%
  • 5 Yr Annualized Total Return -0.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.57%
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
    Apr 06, 2009
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Scott Weiner

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

PKCRX - Performance

Return Ranking - Trailing

Period PKCRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -2.4% 1.7% 4.81%
1 Yr 1.3% -6.6% 4.5% 78.53%
3 Yr -0.1%* -3.8% 1.3% 89.66%
5 Yr -0.3%* -20.3% 1.8% 74.26%
10 Yr -0.2%* -9.8% 2.2% 52.69%

* Annualized

Return Ranking - Calendar

Period PKCRX Return Category Return Low Category Return High Rank in Category (%)
2019 2.2% -6.6% 4.9% 38.98%
2018 -3.0% -4.1% 1.0% 94.04%
2017 0.1% -0.7% 2.8% 35.86%
2016 0.4% -65.8% 7.1% 39.72%
2015 -1.8% -6.6% 3.0% 63.24%

Total Return Ranking - Trailing

Period PKCRX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.2% -2.4% 1.7% 4.81%
1 Yr 1.3% -6.6% 4.5% 80.23%
3 Yr -0.1%* -3.8% 2.9% 91.72%
5 Yr -0.3%* -18.8% 2.9% 80.88%
10 Yr -0.2%* -8.1% 3.5% 61.29%

* Annualized

Total Return Ranking - Calendar

Period PKCRX Return Category Return Low Category Return High Rank in Category (%)
2019 2.2% -6.6% 4.9% 42.37%
2018 -3.0% -4.1% 3.2% 97.35%
2017 0.1% -0.7% 4.7% 50.34%
2016 0.4% -65.2% 8.4% 49.65%
2015 -1.8% -5.3% 3.1% 73.53%

NAV & Total Return History


Holdings

PKCRX - Holdings

Concentration Analysis

PKCRX Category Low Category High PKCRX % Rank
Net Assets 191 M 272 K 63.2 B 72.19%
Number of Holdings 378 7 2087 58.38%
Net Assets in Top 10 61.3 M -5.43 M 4.16 B 65.95%
Weighting of Top 10 38.97% 6.5% 99.4% 18.39%

Top 10 Holdings

  1. Aust 3yr Bond Fut Mar20 10.86%
  2. 2 Year Treasury Note Future Mar20 10.15%
  3. 5 Year Treasury Note Future Mar20 8.17%
  4. Future on Euro Bobl 3.25%
  5. Structured Asset Mortgage Inv Inc 2% 1.26%
  6. CONNECTICUT AVENUE SECURITIES TRUST 3.86% 1.22%
  7. Federal Home Loan Mortgage Corporation 4.24% 1.03%
  8. Federal Home Loan Mortgage Corporation 4.19% 1.03%
  9. Jp Morgan Mtg Tr 2017-5 3.16% 1.01%
  10. Federal Home Loan Mortgage Corporation 3.44% 0.99%

Asset Allocation

Weighting Return Low Return High PKCRX % Rank
Bonds
122.73% 22.39% 137.59% 5.41%
Convertible Bonds
1.07% 0.00% 4.79% 52.43%
Stocks
0.01% 0.00% 7.97% 8.65%
Preferred Stocks
0.00% 0.00% 35.82% 22.70%
Other
-0.02% -0.49% 13.17% 92.43%
Cash
-23.79% -50.76% 77.61% 93.51%

Stock Sector Breakdown

Weighting Return Low Return High PKCRX % Rank
Technology
23.38% 0.00% 23.38% 2.50%
Financial Services
15.66% 0.00% 32.86% 20.00%
Healthcare
13.60% 0.00% 18.62% 10.00%
Consumer Cyclical
11.76% 0.00% 100.00% 25.00%
Industrials
10.39% 0.00% 100.00% 35.00%
Consumer Defense
8.10% 0.00% 21.08% 5.00%
Energy
4.51% 0.00% 100.00% 47.50%
Utilities
3.59% 0.00% 3.59% 2.50%
Communication Services
3.44% 0.00% 31.51% 17.50%
Real Estate
3.21% 0.00% 60.57% 17.50%
Basic Materials
2.37% 0.00% 14.70% 5.00%

Stock Geographic Breakdown

Weighting Return Low Return High PKCRX % Rank
US
0.01% 0.00% 7.73% 7.57%
Non US
0.00% -1.23% 0.24% 17.84%

Bond Sector Breakdown

Weighting Return Low Return High PKCRX % Rank
Securitized
44.62% 0.00% 67.76% 15.14%
Government
25.56% -3.22% 56.23% 25.95%
Corporate
20.85% 2.78% 96.07% 83.24%
Derivative
7.69% -0.09% 21.34% 11.89%
Cash & Equivalents
1.29% 0.15% 77.61% 91.35%
Municipal
0.00% 0.00% 13.57% 63.78%

Bond Geographic Breakdown

Weighting Return Low Return High PKCRX % Rank
US
92.53% 0.00% 137.59% 10.81%
Non US
30.20% 0.00% 77.58% 8.65%

Expenses

PKCRX - Expenses

Operational Fees

PKCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.94% 0.02% 43.40% 15.56%
Management Fee 1.10% 0.00% 1.19% 97.86%
12b-1 Fee 0.50% 0.00% 1.00% 59.60%
Administrative Fee 0.15% 0.05% 0.41% 53.73%

Sales Fees

PKCRX 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

PKCRX 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.

PKCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 84.00% 0.00% 496.37% 68.29%

Distributions

PKCRX - Distributions

Dividend Yield Analysis

PKCRX Category Low Category High PKCRX % Rank
Dividend Yield 0.00% 0.00% 2.10% 87.17%

Dividend Distribution Analysis

PKCRX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Quarterly Monthly Monthly

Net Income Ratio Analysis

PKCRX Category Low Category High PKCRX % Rank
Net Income Ratio 2.57% -2.82% 3.78% 43.65%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

PKCRX - Fund Manager Analysis

Managers

Scott Weiner


Start Date

Tenure

Tenure Rank

Feb 27, 2009

10.93

10.9%

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

10.93

10.9%

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.

Brad Boyd


Start Date

Tenure

Tenure Rank

Feb 28, 2013

6.93

6.9%

Brad Boyd, CFA, is a senior vice president and a senior strategist on the global unconstrained fixed income team with a focus on absolute return solutions. In this capacity, he is responsible for strategy implementation, risk management and performance attribution. Brad also helped with the development of models and processes used for efficient and robust portfolio risk assessment. Previously, he assisted in the management of UK and European fixed income mandates from the firm's London offices. Prior to joining Payden & Rygel, Boyd worked on the bond-trading desk at Standish, Ayer & Wood in Boston. Boyd holds the Chartered Financial Analyst designation and is a member of the CFA Society of Los Angeles. He received a BA degree in Finance from the University of Utah.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.05 23.67 5.07 3.0