Payden & Rygel: High Income Fund
December 31, 2011
  2/3/2012
Symbol PYHRX
NAV ($) $7.09 Daily NAV change ($) $0.02



The Payden High Income Fund invests in corporate high-yield bonds, which provide a premium to US Treasury bonds. The fund generally invests in the higher-quality segment of the market and looks for companies with good growth prospects, superior and defensible products and strong management teams.



High-Yield Bond – Appropriate for investors who seek higher yields and diversification in the growing $1.2 trillion high-yield bond market.



  • Primary focus on the upper tier (BB or B rated) of the high-yield bond market
  • Potential for both income and capital appreciation
  • Pure bond strategy – no credit default swaps, no distressed debt
  • No loads



Inception Date: Dec 30, 1997      Net Expense Ratio: 0.69%
CUSIP: 704329572    Sales charge: None
Total Net Assets: $1065.6 million    Investment Minimum:
  Regular Account
Investor Class
Adviser Class		 $100,000
$5,000
  IRA
Investor Class
Adviser Class		 $100,000
$2,000
Benchmark: Merrill Lynch High Yield Constrained   




  Payden High Income Morningstar average:
High Yield Bond
Net Expense Ratio: 0.69% 1.23%