Payden & Rygel has developed a disaster recovery plan to ensure that all critical functions continue in the event of a disaster.

The firm leases dedicated office space in Phoenix, Arizona and has configured servers and workstations there. Data on critical Los Angeles servers is replicated to corresponding servers in the Phoenix location on a live basis throughout each day. In addition, other servers and databases are backed up, sent electronically to Phoenix, and restored at the end of each day. The firm has established a dedicated electronic connection between the Los Angeles and Phoenix offices to facilitate the secure transmission of data backups.

A number of individuals from the Trading, Portfolio Operations, Information Technology, Compliance, and Portfolio Management departments have been selected to relocate to the Phoenix office in the event of a disaster. Workspaces have been set up for each of these individuals, including computer equipment, phone lines, and other supplies. Our expectation is that routine business operations should resume within 24 hours of a disaster event. To ensure communications with all employees, we have an employee emergency contact number which will be used by our employees to receive information regarding any disruption. The information recorded on this emergency contact number will be updated daily to keep employees informed of developments.

The transfer agent for the Paydenfunds and Metlzer/Payden Funds is not located in Payden & Rygel’s offices. The transfer agent maintains all shareholder records and will continue to receive all shareholder calls related to their accounts.

On a quarterly basis, several employees from the departments specified above travel to the Phoenix office to test the infrastructure by conducting their daily job responsibilities, including the execution, ticketing, settlement and processing of securities trades. Transactions are initiated from the Phoenix office only during the quarterly tests.

The disaster recovery plan is maintained by a committee of senior managers, including representatives from the Trading, Portfolio Operations, Compliance, and Information Technology departments. The committee meets regularly to discuss any necessary updates to the plan and coordinates the quarterly tests of the Phoenix location. The committee also solicits feedback from personnel based on the quarterly tests and promptly makes adjustments to the plan and the Phoenix resources as necessary.

Updated plans will be posted on this website page and a copy of the plan may also be obtained by written request.