Payden & Rygel's actively managed Global Fixed Income strategies provide broad access to the world’s developed and emerging bond markets, both investment grade and high yield. We offer a wide range of standard and customized strategies designed to meet clients’ unique objectives across countries, currencies and sectors.

The three pillars drive portfolio success: duration, currency and sector. We combine top-down asset allocation decisions with bottom-up security selection to gauge country selection, interest rate expectations, currency and sector performance. Diversification across sectors and individual credits is a key component of our risk management philosophy.

Global Fixed Income strategies aim to maximize total return in both rising and falling interest rate environments. Investing across global bond markets provides increased opportunities and additional diversification. Payden & Rygel uses a disciplined team approach to tailor portfolios for both hedged and unhedged mandates.

Benchmark	Barclays Capital Global Aggregate Bond Index, JP Morgan Global Government Bond Index, Citigroup World Government Bond Index
Securities Employed	Governments, Agencies, collateralized securities, corporates, Yankees
Maturity Range	0 - 30 years
Duration Range	5.0 - 7.0 years
Average Credit Quality	AAA / AA

A short/intermediate strategy, which utilizes global sovereign bonds and credit instruments to provide a diversified investment portfolio with maturities ranging from one to five years, can be hedged to any local currency.

Benchmark	Citigroup World Government Bond Index 1-3 year, Merrill Lynch 1-3 year Treasury Index
Securities Employed	Governments, Agencies, collateralized, corporates, Yankees
Maturity Range	0 - 5 years
Duration Range	1.0 - 3.0 years
Average Credit Quality	AAA / AA