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Trending ETFs

Name

As of 06/17/2024

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

$10.52

$114 M

5.25%

$0.55

1.71%

Vitals

YTD Return

4.0%

1 yr return

7.9%

3 Yr Avg Return

2.6%

5 Yr Avg Return

2.9%

Net Assets

$114 M

Holdings in Top 10

21.1%

52 WEEK LOW AND HIGH

$10.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.71%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 155.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$5,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 06/17/2024

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

$10.52

$114 M

5.25%

$0.55

1.71%

PKCIX - Profile

Distributions

  • YTD Total Return 4.0%
  • 3 Yr Annualized Total Return 2.6%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.23%
DIVIDENDS
  • Dividend Yield 5.2%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    Payden Managed Income Fund
  • Fund Family Name
    Paydenfunds
  • Inception Date
    Jun 01, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Brian Matthews

Fund Description

ª
The Fund is designed as an investment vehicle for cash balance pension plans. The Fund 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.
ª
The Fund invests in a wide variety of debt instruments and income-producing securities. These include (1) debt obligations 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; (4) U.S. and foreign asset-backed debt securities, including collateralized debt obligations and collateralized loan obligations; (5) 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; (6) convertible bonds and preferred stock; and (7) real estate investment trusts.
ª
The Fund may invest up to 60% of its total assets in securities rated below 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 determined by Payden to be of comparable quality.
ª
The Fund may invest up to 40% of its total assets in securities issued by governments, agencies and instrumentalities of emerging market countries, and other issuers organized or headquartered in emerging market countries.
ª
The Fund invests in debt securities of any maturity and there is no limit on the Fund’s minimum or maximum average portfolio maturity.
ª
The Fund invests in securities payable in U.S. dollars and foreign currencies. The Fund may hedge this foreign currency exposure to the U.S. dollar.
ª
The Fund may invest up to 30% of its total assets in equity securities of U.S. and foreign companies.
ª
The Fund may invest in derivative instruments, such as option contracts on individual stocks, indices or exchange-traded funds, futures contracts, currency forward contracts and swap agreements, including interest rate swaps, principally to hedge market risk, but also to efficiently add specific sector, currency, interest rate or style exposure to the Fund.
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).
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PKCIX - Performance

Return Ranking - Trailing

Period PKCIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -7.7% 410.0% 14.09%
1 Yr 7.9% -11.0% 435.7% 36.52%
3 Yr 2.6%* -18.2% 72.2% 14.90%
5 Yr 2.9%* -13.9% 43.6% 24.35%
10 Yr N/A* -13.8% 6.5% 76.10%

* Annualized

Return Ranking - Calendar

Period PKCIX Return Category Return Low Category Return High Rank in Category (%)
2023 0.7% -12.0% 15.7% 77.79%
2022 -5.5% -31.8% 18.4% 8.98%
2021 2.0% -26.6% 25.7% 7.20%
2020 -1.3% -49.2% 18.7% 73.44%
2019 3.2% -35.1% 15.3% 70.17%

Total Return Ranking - Trailing

Period PKCIX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.0% -7.7% 410.0% 14.09%
1 Yr 7.9% -11.0% 435.7% 36.52%
3 Yr 2.6%* -18.2% 72.2% 14.90%
5 Yr 2.9%* -13.9% 43.6% 24.35%
10 Yr N/A* -13.8% 6.5% 73.63%

* Annualized

Total Return Ranking - Calendar

Period PKCIX Return Category Return Low Category Return High Rank in Category (%)
2023 6.2% -7.0% 22.2% 77.95%
2022 -3.6% -31.8% 21.1% 20.59%
2021 4.3% -13.5% 49.9% 16.32%
2020 2.2% -28.6% 24.1% 76.39%
2019 6.7% -4.8% 19.1% 70.73%

NAV & Total Return History


PKCIX - Holdings

Concentration Analysis

PKCIX Category Low Category High PKCIX % Rank
Net Assets 114 M 2.53 M 143 B 82.55%
Number of Holdings 298 2 9868 64.79%
Net Assets in Top 10 24.2 M -204 M 70.2 B 86.43%
Weighting of Top 10 21.12% 5.1% 271.9% 68.05%

Top 10 Holdings

  1. United States Treasury Inflation Indexed Bonds - When Issued 4.98%
  2. United States Treasury Note/Bond 4.63%
  3. Brazil Letras do Tesouro Nacional 3.98%
  4. Fannie Mae Pool 1.43%
  5. Payden Emerging Markets Local Bond Fund 1.39%
  6. Connecticut Avenue Securities Trust 2019-R02 1.03%
  7. Morgan Stanley 0.98%
  8. Fannie Mae Pool 0.92%
  9. Exeter Automobile Receivables Trust 2022-1 0.90%
  10. JPMorgan Chase Co 0.87%

Asset Allocation

Weighting Return Low Return High PKCIX % Rank
Bonds
86.88% 0.00% 215.76% 56.10%
Other
9.94% -66.66% 153.75% 30.49%
Stocks
3.22% -4.18% 99.84% 27.74%
Cash
0.51% -94.66% 100.00% 84.76%
Convertible Bonds
0.39% 0.00% 33.50% 69.48%
Preferred Stocks
0.00% 0.00% 28.28% 89.02%

Stock Sector Breakdown

Weighting Return Low Return High PKCIX % Rank
Financial Services
22.82% 0.00% 100.00% 27.04%
Technology
19.56% 0.00% 28.30% 9.30%
Industrials
18.03% 0.00% 100.00% 9.30%
Energy
13.60% 0.00% 100.00% 41.97%
Healthcare
6.65% 0.00% 18.60% 18.59%
Consumer Cyclical
5.72% 0.00% 89.95% 22.82%
Consumer Defense
4.64% 0.00% 99.97% 22.25%
Real Estate
4.54% 0.00% 100.00% 25.92%
Utilities
4.45% 0.00% 100.00% 22.54%
Communication Services
0.00% 0.00% 100.00% 88.73%
Basic Materials
0.00% 0.00% 100.00% 88.45%

Stock Geographic Breakdown

Weighting Return Low Return High PKCIX % Rank
US
3.22% -4.11% 99.84% 26.98%
Non US
0.00% -0.07% 17.73% 85.21%

Bond Sector Breakdown

Weighting Return Low Return High PKCIX % Rank
Securitized
42.63% 0.00% 99.65% 20.75%
Corporate
19.44% 0.00% 96.66% 69.81%
Government
9.20% 0.00% 99.43% 58.65%
Cash & Equivalents
0.51% 0.00% 99.66% 81.65%
Municipal
0.00% 0.00% 54.26% 87.26%
Derivative
-0.69% -66.66% 153.75% 91.28%

Bond Geographic Breakdown

Weighting Return Low Return High PKCIX % Rank
US
76.90% 0.00% 215.76% 54.12%
Non US
9.97% 0.00% 69.85% 31.10%

PKCIX - Expenses

Operational Fees

PKCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.71% 0.03% 20.67% 28.72%
Management Fee 1.10% 0.00% 2.29% 87.44%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.00% 0.70% 73.83%

Sales Fees

PKCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PKCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 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 155.00% 0.00% 632.00% 83.61%

PKCIX - Distributions

Dividend Yield Analysis

PKCIX Category Low Category High PKCIX % Rank
Dividend Yield 5.25% 0.00% 23.30% 43.50%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

PKCIX Category Low Category High PKCIX % Rank
Net Income Ratio 2.23% -1.55% 11.51% 73.99%

Capital Gain Distribution Analysis

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

Distributions History

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PKCIX - Fund Manager Analysis

Managers

Brian Matthews


Start Date

Tenure

Tenure Rank

Feb 27, 2009

13.26

13.3%

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.

Eric Souders


Start Date

Tenure

Tenure Rank

Feb 28, 2020

2.25

2.3%

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.

Nigel Jenkins


Start Date

Tenure

Tenure Rank

Feb 28, 2022

0.25

0.3%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 28.19 5.72 3.19