About PYAIX
Payden Absolute Return Bond Fund SI Class is a nontraditional bond mutual fund designed to generate positive absolute returns over the long term across varying market environments. The fund pursues total return through income and price appreciation, employing a flexible, global approach across government, corporate, securitized, and emerging‑market debt, and it actively uses derivatives to manage currency, credit, and interest‑rate exposures. A defining feature is its emphasis on risk management and relatively low interest‑rate sensitivity, allowing duration to be managed tightly and even taken near zero when warranted. The strategy is benchmarked to ultra‑short cash proxies and seeks reduced correlation with traditional core bond benchmarks, positioning it as a diversifier within fixed income allocations. The SI share class is institutional, with a high minimum investment and a low net expense ratio relative to peers, reflecting a cost‑efficient implementation of the process. Managed by Payden & Rygel, a long‑standing fixed‑income specialist, the fund’s mandate and toolkit support consistent pursuit of steady returns with attention to downside mitigation.
Fund Family Paydenfunds
Category Nontraditional Bond
Performance Rating Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol PYAIX
Share Class (si Class)
Index Index is not available on Lipper Database
PYAIX had a total return of 4.20% in the past year, including dividends. Since the fund's
inception, the average annual return has been 3.38%.
