Payden Emerging Markets Local Bond Fund Investor Class (PYELX)
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Payden Emerging Markets Local Bond Fund Investor Class Profile
| NASDAQ Exchange | United States Country |
Overview
The company operates as an investment fund focused predominantly on bond investments. It commits at least 80% of its total assets to an assortment of bonds, including debt securities and commercial paper, both domestically and internationally. The fund targets a range of bonds issued or guaranteed by various entities such as U.S. and foreign governments, their agencies and instrumentalities, as well as political subdivisions of foreign governments and supranational organizations like the World Bank. In addition, it deals with credit-linked notes related to such securities. Despite its broad investment scope, the fund is classified as non-diversified, indicating a concentration of investments which may impact its volatility and risk profile.
Products and Services
- Government and Supranational Bonds
This includes debt securities issued or guaranteed by the U.S. government, foreign governments, and their respective agencies and instrumentalities. It also covers political subdivisions of foreign governments and supranational entities such as the World Bank. The fund invests in these to leverage the relative safety and potentially lower volatility associated with government and supranational issuers.
- Credit-Linked Notes
The fund invests in credit-linked notes that are issued concerning the underlying government, supranational, or corporate bonds in its portfolio. These financial instruments allow the fund to gain exposure to the credit risk of various issuers without directly holding the underlying bonds, potentially providing a mechanism for risk management and diversification.
- Corporate Bonds and Commercial Paper
Debt securities and commercial paper issued by U.S. and foreign companies make up a significant portion of the fund's investments. These securities offer a broader range of credit risks and yields compared to government securities, aiming for higher income potential for investors. The focus includes both high-grade and —to a lesser extent— higher-yielding, higher-risk bonds.
