Payden CA Municipal Income  PYCRX
  Morningstar Report
Overall Morningstar
Rating™
What is this?
As of 2009-10-31
Out of
Muni California Int/Sh Funds
Rating derived from a weighted average of the fund's 3, 5, 10-year rating which are based on risk-adjusted performance.
Morningstar®
Style Box™
What is this?
   Avg Duration
   5.71 Yrs
   Avg Credit Quality
   AA
As of 2009-09-30
Day Change
$ 0.01
  
NAV (2009-11-20)
$ 10.13
  
YTD Return % (2009-11-20)
6.94%
  
Total Assets ($ mil)
43
View Data Definitions
  Performance    
Growth of $10,000 Fund: Payden CA Municipal Income
(from 1999-01-01 to 2009-10-31) Category: Muni California Int/Sh
Index: BarCap Municipal TR USD
Total Annualized Returns % 1yr, 3yr and 5yr Returns as of 2009-11-20
Inception date: 1998-12-17 10yr and Inception Returns as of 2009-10-31
YTD Returns as of 2009-11-20
YTD 1 Year 3 Year 5 Year 10 Year Since Inception
Fund 6.94 7.48 3.91 3.58 4.51 4.03
+/- Category -2.64 -1.73 1.16 0.73 0.32 ---
+/- BarCap Municipal TR USD -5.20 -4.19 -0.34 -0.78 --- ---
Standardized Annual Returns %   more on standardized returns
Quarter-End (as of 2009-09-30) 8.43 10.53 4.63 3.87 4.62 4.24
Month-End (as of 2009-10-31) 6.42 9.05 3.78 3.34 4.51 4.03
After Tax Returns % (as of 2009-09-30 )  
On Distribution --- 9.05 3.78 3.32 4.45 ---
On Distribution & Sale of Shares --- 7.13 3.74 3.36 4.40 ---
Morningstar Rating --- --- ---
# of compared funds covered (3 yrs : out of 77 funds), (5 yrs : out of 69 funds), (10 yrs : out of 37 funds). Ratings are based on risk-adjusted performance. The maximum initial sales fee is none, the maximum deferred sales fee is none, and the maximum redemption sales fee is none.
The performance quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate thus an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted herein.
  Portfolio Profile    
Sector Breakdown %
General Obligations 28.62
Advance Refunded 8.18
State Appropriated Tobacco 1.54
Non-state Appropriated Tobacco ---
Education 7.18
Health ---
Housing ---
Industrial 1.75
Transportation 8.79
Utilities 3.75
Water/Sewer 17.90
Misc. Revenue 22.29
Bond Quality % of Bonds
AAA 6.2
AA 56.1
A 32.9
BBB 4.6
BB 0.0
B 0.0
Below B 0.0
Not Rated 0.3
 
Asset Allocation
% of Net Assets
Cash 4.6
Stocks 0.0
Bonds 95.4
Other 0.0
Foreign Stocks 0.0
(as a % of Assets)
Data through 2009-09-30 Data through 2009-09-30
 
Holding Status
Total Number of Stock Holdings Turnover % 19
Total Number of Bond Holdings 60 30 Day SEC Yield % 3.45
% of Assets in Top 10 Holdings 26.75 ending as of 2009-09-30
View Data Definitions
Top 10 Holdings Maturity
Date		 Amount
$000		 Value
$000		 % of Net
Assets
California St Dept Wtr Res Pwr Wt 5.375% 2022-05-01 1,200 1,347 2.99
Univ Calif Revs General R 5% 2022-05-15 1,200 1,321 2.93
Orange Cnty Calif Ref Recov 5% 2014-06-01 1,130 1,290 2.86
Santa Monica Calif Cmnty Colle Go Commun 2012-08-01 1,300 1,235 2.74
California St Econ Recover Double 5.25% 2012-07-01 1,100 1,205 2.67
Los Angeles Calif Uni Sch Dist 6% 2014-07-01 1,000 1,184 2.63
Santa Clara Cnty Calif Fing Au Lease 5% 2014-11-15 1,000 1,141 2.53
East Bay Calif Mun Util Dist 5% 2024-06-01 1,000 1,121 2.49
Puerto Rico Comwlth Hwy & Tran Hwy 5.5% 2015-07-01 1,000 1,114 2.47
California St Go Bds 5% 2017-03-01 1,000 1,101 2.44
Data through 2009-09-30
  Other Information
Fund Inception: 1998-12-17
Portfolio Manager  (Start Date)
Mary Beth Syal  (1998-12-17)
Mary Beth Syal, one of the six members of the Investment Policy Committee, serves as head of the company’s Municipal Bond Strategy Group. She is also the manager for the Taxable Client Services Group that serves taxable clients, both corporate and private. Prior to joining Payden & Rygel, Syal was a Portfolio Manager and strategist at Amervest Company, Inc., where she was the co-chair of the Investment Strategy Committee. She is a member of the Los Angeles Society of Financial Analysts (LASFA) and the Association of Investment Management and Research (AIMR), the Los Angeles Association of Investment Women, the National Federation of Municipal Analysts and the California Society of Municipal Analysts. In addition, she is chair of the Finance and Planning Committee of the Western Province of the Religious of the Sacred Heart of Mary and a member of the Investment Review Committee for St. Joseph Health System.
Sales Charge %
(taken from prospectus dated 2009-03-10)
Front: None
Deferred: None
Expense Ratio % 0.53
based on net assets
(taken from annual report dated 2008-10-31)
Correspondence Information
333 S Grand Ave
32nd FL
Los Angeles,  CA  90071
Telephone:
800-572-9336
Data on this page does not include the fund's short positions (if any).
Show Data Definitions

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Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.