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Name

As of 04/23/2024

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 Limited Maturity Fund

PYLMX | Fund

$9.51

$1.97 B

5.57%

$0.53

0.48%

Vitals

YTD Return

1.8%

1 yr return

6.1%

3 Yr Avg Return

2.7%

5 Yr Avg Return

2.5%

Net Assets

$1.97 B

Holdings in Top 10

16.4%

52 WEEK LOW AND HIGH

$9.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.48%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 60.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$2,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 04/23/2024

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 Limited Maturity Fund

PYLMX | Fund

$9.51

$1.97 B

5.57%

$0.53

0.48%

PYLMX - Profile

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 2.7%
  • 5 Yr Annualized Total Return 2.5%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.64%
DIVIDENDS
  • Dividend Yield 5.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Payden Limited Maturity Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Jun 30, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Mary Syal

Fund Description

ª
The Fund invests in a wide variety of debt instruments and income-producing securities payable primarily in U.S. dollars. 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 90% of its total assets in investment grade debt securities, but may invest up to 10% 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
The Fund invests in debt securities of any maturity, although under normal market conditions the Fund’s maximum average portfolio maturity (on a dollar-weighted basis) is two and one-half 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
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).
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.
Read More

PYLMX - Performance

Return Ranking - Trailing

Period PYLMX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -1.4% 3.2% 38.89%
1 Yr 6.1% -0.1% 12.4% 27.91%
3 Yr 2.7%* -2.1% 5.8% 21.46%
5 Yr 2.5%* -1.0% 3.9% 14.89%
10 Yr 1.8%* -4.5% 27.5% 28.21%

* Annualized

Return Ranking - Calendar

Period PYLMX Return Category Return Low Category Return High Rank in Category (%)
2023 1.4% -2.3% 4.3% 39.81%
2022 -1.3% -6.5% 0.5% 33.49%
2021 -0.3% -2.1% 0.3% 38.42%
2020 0.4% -3.1% 1.8% 36.08%
2019 0.7% -1.2% 6.1% 32.61%

Total Return Ranking - Trailing

Period PYLMX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -1.4% 3.2% 38.89%
1 Yr 6.1% -0.1% 12.4% 27.91%
3 Yr 2.7%* -2.1% 5.8% 21.46%
5 Yr 2.5%* -1.0% 3.9% 14.89%
10 Yr 1.8%* -4.5% 27.5% 28.21%

* Annualized

Total Return Ranking - Calendar

Period PYLMX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% 0.8% 12.1% 18.06%
2022 0.6% -5.1% 2.5% 25.84%
2021 0.4% -2.1% 14.5% 23.65%
2020 2.0% -1.0% 3.6% 30.93%
2019 3.6% 0.3% 9.6% 19.57%

NAV & Total Return History

PYLMX - Holdings

Concentration Analysis

PYLMX Category Low Category High PYLMX % Rank
Net Assets 1.97 B 25.6 K 22.6 B 34.55%
Number of Holdings 406 2 1291 25.00%
Net Assets in Top 10 320 M 32.5 K 17.3 B 37.73%
Weighting of Top 10 16.41% 5.6% 163.3% 63.18%

Top 10 Holdings

  1. United States Treasury Bill- When Issued 2.56%
  2. United States Treasury Bill- When Issued 2.54%
  3. United States Treasury Bill 2.05%
  4. United States Treasury Bill- When Issued 2.04%
  5. United States Treasury Bill- When Issued 1.73%
  6. Payden Floating Rate Fund 1.37%
  7. Payden Cash Reserves Money Market Fund 1.23%
  8. United States Treasury Bill 1.11%
  9. United States Treasury Bill 1.01%
  10. AMILLN 0 02/08/24 0.77%

Asset Allocation

Weighting Return Low Return High PYLMX % Rank
Bonds 		78.21% 0.00% 128.16% 54.09%
Other 		21.44% -29.59% 99.92% 15.45%
Convertible Bonds 		2.32% 0.00% 15.25% 54.34%
Stocks 		1.37% 0.00% 97.29% 14.55%
Cash 		1.23% 0.00% 109.89% 81.36%
Preferred Stocks 		0.00% 0.00% 0.00% 33.64%

Stock Sector Breakdown

Weighting Return Low Return High PYLMX % Rank
Utilities 		0.00% 0.00% 0.87% N/A
Technology 		0.00% 0.00% 32.06% N/A
Real Estate 		0.00% 0.00% 0.00% N/A
Industrials 		0.00% 0.00% 2.85% N/A
Healthcare 		0.00% 0.00% 4.23% N/A
Financial Services 		0.00% 0.00% 99.34% N/A
Energy 		0.00% 0.00% 100.00% N/A
Communication Services 		0.00% 0.00% 11.28% N/A
Consumer Defense 		0.00% 0.00% 4.16% N/A
Consumer Cyclical 		0.00% 0.00% 11.26% N/A
Basic Materials 		0.00% 0.00% 0.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High PYLMX % Rank
US 		1.37% 0.00% 97.29% 14.55%
Non US 		0.00% 0.00% 0.00% 33.64%

Bond Sector Breakdown

Weighting Return Low Return High PYLMX % Rank
Corporate 		33.48% 0.00% 99.91% 62.10%
Securitized 		28.50% 0.00% 100.00% 46.12%
Government 		1.76% 0.00% 100.00% 52.51%
Cash & Equivalents 		1.23% 0.00% 109.89% 76.82%
Derivative 		0.01% -29.59% 21.59% 12.73%
Municipal 		0.00% 0.00% 70.39% 63.93%

Bond Geographic Breakdown

Weighting Return Low Return High PYLMX % Rank
US 		76.60% 0.00% 128.16% 54.55%
Non US 		1.61% 0.00% 22.24% 12.73%

PYLMX - Expenses

Operational Fees

PYLMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.48% 0.02% 28.11% 50.46%
Management Fee 0.28% 0.00% 1.19% 61.82%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.40% 70.83%

Sales Fees

PYLMX 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 0.25% 1.00% N/A

Trading Fees

PYLMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 1.00% 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.

PYLMX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 60.00% 0.00% 369.54% 37.84%

PYLMX - Distributions

Dividend Yield Analysis

PYLMX Category Low Category High PYLMX % Rank
Dividend Yield 5.57% 0.00% 8.09% 35.00%

Dividend Distribution Analysis

PYLMX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

PYLMX Category Low Category High PYLMX % Rank
Net Income Ratio 0.64% -1.30% 14.86% 34.43%

Capital Gain Distribution Analysis

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

Distributions History

View More +

PYLMX - Fund Manager Analysis

Managers

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.

Brian Matthews

Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

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.

Kerry Rapanot

Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 32.44 6.56 0.13

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