YTD+ through
9/30/2008
1 YR
3 YR
5 YR
10 YR
-------------through 9/30/2008-------------
Stock Funds 
Global Equity
(PYGEX)		 -19.35%
Market Return
(PYMRX)		 -21.31%-24.71% -1.61% 4.03% 2.21%
U.S. Growth Leaders
(PUGLX)		 -30.06%-26.97% -2.96% 4.80%
Value Leaders
(PYVLX)		 -23.15%-26.96% -0.81% 3.12% 1.69%
Global Bond Funds 
Emerging Markets Bond
(PYEMX)		 -6.98%-6.18% 2.05% 6.62%
Global Fixed Income
(PYGFX)		 -1.69%-0.03% 1.73% 2.63% 3.95%
Global Short Bond
(PYGSX)		 -2.23%-1.06% 2.30% 2.30% 4.01%
U.S. Bond Funds 
Cash Reserves Money Market*
(PBHXX)		 1.87%3.03% 4.24% 3.21% 3.50%
Core Bond
(PYCBX)		 -2.47%0.12% 2.10% 2.36% 4.37%
GNMA
(PYGNX)		 3.72%6.98% 5.09% 4.48%
High Income
(PYHRX)		 -7.20%-7.89% 1.50% 3.77% 4.29%
Limited Maturity
(PYLMX)		 0.56%0.38% 2.60% 2.16% 3.32%
Opportunity Bond
(PYOBX)		 -4.29%-1.85% 1.59% 1.95% 4.15%
Payden/Kravits Cash Balance Plan - Advisor
(PKCBX)		 0.00%
Payden/Kravits Cash Balance Plan - Institutional
(PKBIX)		 0.00%
Short Bond
(PYSBX)		 0.66%2.72% 3.77% 2.68% 4.24%
U.S. Government
(PYUSX)		 3.84%6.62% 5.08% 3.44% 4.57%
Tax-Exempt Bond Funds 
CA Municipal Income
(PYCRX)		 -0.71%0.71% 2.40% 2.39%
Tax Exempt Bond
(PYTEX)		 -0.52%0.78% 2.38% 2.36% 3.67%


+ Not annualized
*Effective February 28, 2007 the name of the Bunker Hill Money Market Fund changed to Payden Cash Reserves Money Market Fund. For more information please see prospectus.

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