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Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Payden Global Low Duration Fund

PYGSX | Fund

$9.69

$47.7 M

4.69%

$0.45

0.79%

Vitals

YTD Return

4.6%

1 yr return

6.5%

3 Yr Avg Return

2.2%

5 Yr Avg Return

2.0%

Net Assets

$47.7 M

Holdings in Top 10

22.6%

52 WEEK LOW AND HIGH

$9.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.79%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 169.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$2,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Payden Global Low Duration Fund

PYGSX | Fund

$9.69

$47.7 M

4.69%

$0.45

0.79%

PYGSX - Profile

Distributions

  • YTD Total Return 4.6%
  • 3 Yr Annualized Total Return 2.2%
  • 5 Yr Annualized Total Return 2.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.13%
DIVIDENDS
  • Dividend Yield 4.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Payden Global Low Duration Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Feb 10, 1997
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brian Matthews

Fund Description

ª
The Fund invests in a wide variety of debt instruments and income-producing securities. These include (1) debt securities issued or guaranteed by the U.S. Government and foreign governments and their agencies and instrumentalities, political subdivisions of foreign governments (such as provinces and municipalities), and supranational organizations (such as the World Bank); (2) debt securities, loans and commercial paper issued by U.S. and foreign companies; (3) U.S. and foreign mortgage-related securities, including collateralized mortgage-backed obligations, credit risk transfer securities and commercial mortgage-backed obligations, and U.S. and foreign asset-backed debt securities, including collateralized debt obligations and collateralized loan obligations; (4) municipal securities, which are debt obligations issued by state and local governments, territories and possessions of the United States, regional governmental authorities, and their agencies and instrumentalities, the interest on which may, or may not, be exempt from Federal income tax; and (5) convertible bonds and preferred stock.
ª
The Fund invests at least 65% of its total assets in investment grade debt securities. However, the Fund may invest up to 35% of its total assets in debt securities rated below investment grade. The overall average credit quality of the Fund will remain investment grade. Investment grade debt securities are rated within the four highest grades by at least one Nationally Recognized Statistical Rating Organization, or are securities that the Fund’s adviser, Payden & Rygel (“Payden”), determines to be of comparable quality.
ª
Under normal market conditions, the Fund invests at least 65% of its total assets in debt securities of issuers organized or headquartered in at least three countries, one of which may be the United States. The Fund may invest in debt securities of issuers organized or headquartered in emerging market countries.
ª
The Fund invests in debt securities payable in U.S. dollars and in foreign currencies, and the Fund generally hedges most of its foreign currency exposure to the U.S. dollar.
ª
The Fund invests in debt securities of any maturity. Maturity is the date when each bond or other debt security pays back its principal. Under normal market conditions, the Fund’s maximum average portfolio maturity (on a dollar-weighted basis) is four years. In calculating the Fund’s average portfolio maturity, the Fund uses a security’s stated maturity, or if applicable, an earlier date based on the Adviser’s belief that the security may be subject, for example, to a call, a put, a refunding, a prepayment, a redemption provision, an adjustable coupon rate, or the like, that will cause the security to be repaid earlier.
ª
The Fund may invest up to 20% of its total assets in equity securities of U.S. or foreign issuers.
ª
The Fund may invest in many different types of derivatives, such as futures, forwards, swaps and options. These positions may be used for the purposes of either hedging currency exposure in the portfolio or to obtain exposure to various market sectors. Currency positions may be employed for the purposes of hedging non-dollar denominated bonds or to take an active position in a currency, both long or short.
ª
To gain exposure to various markets consistent with the investment strategies of the Fund, the Fund may invest in exchange-traded funds (“ETFs”) and other investment companies, including for example, other open-end or closed-end investment companies, and including investment companies for which the Adviser provides investment management services (affiliated funds).
Read More

PYGSX - Performance

Return Ranking - Trailing

Period PYGSX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -59.5% 0.9% 6.80%
1 Yr 6.5% -15.5% 19.7% 9.13%
3 Yr 2.2%* -4.3% 4.2% 27.86%
5 Yr 2.0%* -2.5% 4.1% 44.68%
10 Yr 1.9%* -3.0% 2.7% 27.43%

* Annualized

Return Ranking - Calendar

Period PYGSX Return Category Return Low Category Return High Rank in Category (%)
2023 1.6% -15.2% 0.9% 2.00%
2022 -5.4% -10.9% 12.2% 86.08%
2021 -1.5% -10.8% 14.8% 83.33%
2020 1.3% -15.3% 0.6% 6.94%
2019 1.9% -44.4% 14.4% 92.64%

Total Return Ranking - Trailing

Period PYGSX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.6% -59.5% 0.9% 2.91%
1 Yr 6.5% -16.6% 30.5% 8.53%
3 Yr 2.2%* -5.2% 10.9% 26.57%
5 Yr 2.0%* -2.8% 7.4% 40.21%
10 Yr 1.9%* -3.0% 3.6% 28.73%

* Annualized

Total Return Ranking - Calendar

Period PYGSX Return Category Return Low Category Return High Rank in Category (%)
2023 5.6% -15.2% 0.9% 2.00%
2022 -3.4% -10.9% 12.2% 86.08%
2021 0.2% -10.8% 14.8% 83.33%
2020 3.1% -15.3% 3.8% 16.18%
2019 4.8% -44.4% 14.4% 95.09%

NAV & Total Return History

PYGSX - Holdings

Concentration Analysis

PYGSX Category Low Category High PYGSX % Rank
Net Assets 47.7 M 74.5 K 14.7 B 78.43%
Number of Holdings 204 4 4562 67.77%
Net Assets in Top 10 10.6 M -112 M 3.66 B 63.03%
Weighting of Top 10 22.59% 4.7% 100.0% 30.77%

Top 10 Holdings

  1. Payden Cash Reserves Money Market Fund 3.92%
  2. United States Treasury Note/Bond 3.09%
  3. United States Treasury Note/Bond 3.06%
  4. PAYDEN CASH RESERVES MONEY MARKET 2.24%
  5. Svensk Exportkredit AB 2.12%
  6. United States Treasury Note/Bond 2.01%
  7. BNG Bank NV 1.59%
  8. Export Development Canada 1.57%
  9. Fannie Mae Connecticut Avenue Securities 1.50%
  10. Canadian Imperial Bank of Commerce 1.49%

Asset Allocation

Weighting Return Low Return High PYGSX % Rank
Bonds 		75.69% 0.00% 220.33% 1.42%
Other 		19.80% -9.71% 100.00% 53.55%
Cash 		3.92% -130.07% 95.62% 99.05%
Stocks 		2.24% 0.00% 7.47% 67.77%
Convertible Bonds 		1.83% 0.00% 11.19% 64.93%
Preferred Stocks 		0.00% 0.00% 2.87% 56.87%

Stock Sector Breakdown

Weighting Return Low Return High PYGSX % Rank
Utilities 		0.00% 0.00% 91.33% 33.33%
Technology 		0.00% 0.00% 21.64% 5.11%
Real Estate 		0.00% 0.00% 3.17% 33.87%
Industrials 		0.00% 0.00% 11.80% 26.08%
Healthcare 		0.00% 0.00% 9.46% 5.65%
Financial Services 		0.00% 0.00% 100.00% 38.98%
Energy 		0.00% 0.00% 100.00% 41.13%
Communication Services 		0.00% 0.00% 56.19% 34.41%
Consumer Defense 		0.00% 0.00% 34.30% 26.34%
Consumer Cyclical 		0.00% 0.00% 27.00% 12.63%
Basic Materials 		0.00% 0.00% 100.00% 46.51%

Stock Geographic Breakdown

Weighting Return Low Return High PYGSX % Rank
US 		2.24% 0.00% 6.55% 64.93%
Non US 		0.00% 0.00% 1.77% 53.08%

Bond Sector Breakdown

Weighting Return Low Return High PYGSX % Rank
Government 		36.25% 0.30% 99.47% 79.81%
Corporate 		28.31% 0.00% 98.62% 23.56%
Securitized 		25.32% 0.00% 52.02% 10.10%
Cash & Equivalents 		3.92% 0.00% 95.62% 54.81%
Derivative 		0.10% 0.00% 74.77% 40.87%
Municipal 		0.00% 0.00% 7.95% 28.85%

Bond Geographic Breakdown

Weighting Return Low Return High PYGSX % Rank
US 		75.69% -5.52% 107.53% 1.90%
Non US 		0.00% 0.00% 112.80% 95.26%

PYGSX - Expenses

Operational Fees

PYGSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.79% 0.02% 3.65% 84.69%
Management Fee 0.30% 0.00% 2.08% 7.32%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.45% 67.69%

Sales Fees

PYGSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.00% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

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

PYGSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 169.00% 6.00% 354.00% 88.17%

PYGSX - Distributions

Dividend Yield Analysis

PYGSX Category Low Category High PYGSX % Rank
Dividend Yield 4.69% 0.00% 17.40% 60.66%

Dividend Distribution Analysis

PYGSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

PYGSX Category Low Category High PYGSX % Rank
Net Income Ratio 1.13% -1.08% 5.77% 68.63%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PYGSX - Fund Manager Analysis

Managers

Brian Matthews

Start Date

Tenure

Tenure Rank

Sep 18, 1996

25.72

25.7%

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.

Mary Syal

Start Date

Tenure

Tenure Rank

Feb 28, 2008

14.26

14.3%

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.

David Ballantine

Start Date

Tenure

Tenure Rank

Feb 28, 2017

5.25

5.3%

David Ballantine, CFA, CFP, is a principal and and portfolio manager who has been with Payden & Rygel since 1991. He oversees the firm's trading operations and is a key member of the portfolio management team responsible for developing strategies for short- and intermediate-term fixed-income portfolios. Prior to joining Payden & Rygel, Ballantine traded corporate, asset-backed and mortgage securities at The Capital Group and worked in the fixed-income department at Fidelity Investments. David Ballantine is a member of the CFA Institute, Investment Counsel Association of America, Inc. and the Financial Planning Association. He is also a member of the Leadership of Southern California and the L.A. Works Organization. Ballantine holds the Chartered Financial Analyst designation and is a certified financial planner. He earned a BS in Business Administration from the University of New Hampshire.

Nigel Jenkins

Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

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.

Adam Congdon

Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Adam Congdon, CFA, is a Vice President and portfolio manager. He has been with Payden since 2014.

Kerry Rapanot

Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 28.31 6.8 3.67

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