PYEMX: Payden Emerging Markets Bond Fund - MutualFunds.com

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Payden Emerging Markets Bond

PYEMX - Snapshot

Vitals

  • YTD Return -4.4%
  • 3 Yr Annualized Return 2.7%
  • 5 Yr Annualized Return 6.1%
  • Net Assets $1.04 B
  • Holdings in Top 10 11.2%

52 WEEK LOW AND HIGH

$13.15
$10.97
$14.10

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.72%

SALES FEES

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

BROKERAGE FEES

  • Turnover 73.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $100,000
  • IRA $100,000

Fund Classification


Compare PYEMX to Popular Emerging Markets Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$110.97

+0.47%

$16.08 B

4.68%

$5.17

-3.48%

0.39%

$14.29

-0.07%

$7.10 B

5.06%

$0.72

-5.18%

0.82%

$8.02

-0.13%

$6.63 B

5.17%

$0.41

-5.09%

0.84%

$14.68

-0.07%

$6.57 B

4.64%

$0.68

-1.21%

0.83%

$10.89

-0.09%

$5.04 B

5.58%

$0.61

-6.36%

0.90%

PYEMX - Profile

Distributions

  • YTD Total Return -4.5%
  • 3 Yr Annualized Total Return 2.7%
  • 5 Yr Annualized Total Return 6.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 5.65%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Payden Emerging Markets Bond Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Dec 17, 1998
  • Shares Outstanding
    N/A
  • Share Class
    Inv
  • 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.


PYEMX - Performance

Return Ranking - Trailing

Period PYEMX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.4% -27.9% 6.1% 50.14%
1 Yr 1.6% -12.5% 14.3% 37.54%
3 Yr 2.7%* -8.2% 8.9% 31.07%
5 Yr 6.1%* -2.9% 7.9% 17.82%
10 Yr 4.8%* -2.3% 7.1% 9.68%

* Annualized

Return Ranking - Calendar

Period PYEMX Return Category Return Low Category Return High Rank in Category (%)
2019 10.1% -9.9% 13.5% 18.73%
2018 -12.3% -31.2% 73.9% 82.57%
2017 6.0% -9.1% 14.2% 48.70%
2016 5.4% -9.2% 219.0% 43.70%
2015 -5.7% -29.9% 0.9% 31.82%

Total Return Ranking - Trailing

Period PYEMX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.5% -27.9% 6.1% 52.11%
1 Yr 1.6% -13.7% 14.3% 29.69%
3 Yr 2.7%* -8.2% 8.9% 28.40%
5 Yr 6.1%* -2.9% 7.9% 16.50%
10 Yr 4.8%* -2.3% 6.8% 9.68%

* Annualized

Total Return Ranking - Calendar

Period PYEMX Return Category Return Low Category Return High Rank in Category (%)
2019 10.1% -9.9% 13.6% 19.60%
2018 -12.3% -31.2% 0.0% 89.91%
2017 6.0% 0.0% 17.0% 65.91%
2016 5.4% -9.2% 242.1% 58.15%
2015 -5.7% -29.9% 7.1% 45.87%

NAV & Total Return History


PYEMX - Holdings

Concentration Analysis

PYEMX Category Low Category High PYEMX % Rank
Net Assets 1.04 B 539 K 16.1 B 21.15%
Number of Holdings 344 3 1334 25.48%
Net Assets in Top 10 113 M -100 M 2.05 B 26.04%
Weighting of Top 10 11.19% 1.0% 100.0% 87.47%

Top 10 Holdings

  1. Russian Federation 6.9% 1.41%
  2. 1MDB Global Investments Ltd. 4.4% 1.34%
  3. JSC National Company KazMunayGas 5.75% 1.20%
  4. Ghana, Republic of 10.75% 1.18%
  5. Uruguay (Republic of) 4.97% 1.16%
  6. Central Bank of Tunisia 5.75% 1.13%
  7. Uruguay (Republic of) 5.1% 1.08%
  8. Abu Dhabi Crude Oil Pipeline LLC 4.6% 1.07%
  9. Republic of Panama 6.7% 1.03%
  10. Ukraine (Republic of) 7.75% 1.02%

Asset Allocation

Weighting Return Low Return High PYEMX % Rank
Bonds
97.69% 0.00% 217.91% 24.38%
Cash
1.94% -116.30% 103.65% 73.96%
Convertible Bonds
0.37% 0.00% 14.72% 37.95%
Stocks
0.00% -0.01% 6.23% 71.75%
Preferred Stocks
0.00% 0.00% 0.00% 59.56%
Other
0.00% -7.79% 2.12% 61.22%

Bond Sector Breakdown

Weighting Return Low Return High PYEMX % Rank
Government
63.84% 0.00% 99.67% 48.20%
Derivative
18.32% 0.00% 57.62% 13.85%
Corporate
16.19% 0.00% 97.77% 58.73%
Cash & Equivalents
1.64% 0.00% 100.00% 85.32%
Securitized
0.00% 0.00% 2.66% 61.22%
Municipal
0.00% 0.00% 0.00% 59.56%

Bond Geographic Breakdown

Weighting Return Low Return High PYEMX % Rank
Non US
96.10% 0.00% 205.53% 40.44%
US
1.59% -112.14% 217.91% 20.22%

PYEMX - Expenses

Operational Fees

PYEMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.72% 0.01% 33.09% 88.54%
Management Fee 0.45% 0.00% 1.50% 6.87%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.65% 75.00%

Sales Fees

PYEMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PYEMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.50% 2.00% 52.63%

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.

PYEMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 73.00% 0.00% 312.50% 49.71%

PYEMX - Distributions

Dividend Yield Analysis

PYEMX Category Low Category High PYEMX % Rank
Dividend Yield 0.00% 0.00% 13.81% 61.54%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PYEMX Category Low Category High PYEMX % Rank
Net Income Ratio 5.65% -0.61% 9.08% 29.01%

Capital Gain Distribution Analysis

PYEMX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History

View More +

PYEMX - Fund Manager Analysis

Managers

Kristin Ceva


Start Date

Tenure

Tenure Rank

Dec 17, 1998

21.8

21.8%

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.

Brian Matthews


Start Date

Tenure

Tenure Rank

Dec 17, 1998

21.8

21.8%

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.

Scott Weiner


Start Date

Tenure

Tenure Rank

Dec 17, 1998

21.8

21.8%

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.

Nigel Jenkins


Start Date

Tenure

Tenure Rank

Oct 07, 2011

8.99

9.0%

Nigel Jenkins is a Managing Principal and portfolio manager who has been with Payden & Rygel since 2006. who is responsible for the management of UK and European benchmarked fixed-income and money market portfolios. Prior to joining Payden & Rygel, Jenkins was a founding partner of Centric Capital LLP, a fixed-income and currency hedge fund focusing on quantitative methodologies. Previously he was head of global fixed-income at WestLB, and a director of the fixed income & currency group at Rothschild Asset Management, both in London. Jenkins holds the ASIP designation of the UK Society of Investment Professionals, a member society of the CFA Institute. He earned a MA degree in Economics from the University of Cambridge.

Arthur Hovsepian


Start Date

Tenure

Tenure Rank

Feb 28, 2013

7.59

7.6%

Arthur Hovsepian, CFA, is a Principal and portfolio manager at Payden & Rygel. He is responsible for implementing investment strategies and executing trades in emerging markets. Arthur analyzes sovereign yield curves to identify relative value opportunities. He also monitors firm-wide emerging-market local debt and currency exposure. Arthur has been with Payden since 2004.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 25.77 5.42 6.18