The team at a $161-billion-AUM, Southern California asset manager are celebrating the pearl anniversary of a fixed income fund designed as an alternative to money market funds.

Mary Beth Syal Payden & Rygal Managing Director, Senior Portfolio Manager

On Monday, Mary Beth Syal, managing director and senior portfolio manager at Payden & Rygel [profile], highlighted the 30th birthday of the Payden Limited Maturity Fund. The open-end mutual fund first debuted on April 29, 1994, and it is a series of the Payden & Rygel Investment Group.

As of March 31, 2024, the Payden Limited Maturity Fund had grown to $1.9 billion in AUM. The ultrashort bond fund comes in three flavors: adviser shares (PYLBX), with an expense ratio of 55 basis points; investor shares (PYLMX), with an expense ratio of 30bps; and SI shares (PYLSX), with an expense ratio of 25bps.

Los Angeles-based Payden & Rygel serves as investment advisor to the Payden Limited Maturity Fund. Its PM team includes: Adam Congdon, director; Nigel Jenkins, managing director; Kerry Rapanot, director; and Syal.

Syal describes the Payden Limited Maturity Fund as being powered by "a strategic blend of top-down macroeconomic analysis and bottom-up security selection," allowing the PM team to pinpoint "market inefficiences to enhance risk-adjusted performance."

"The team aims to capture macro themes and opportunities, ensuring adaptability to evolving market conditions," Syal states. "Our focus has enabled us access to liquidity during times of market distress."

The Payden Limited Maturity Fund's other service providers include: the Bank of New York Mellon as custodian; Deloitte & Touche LLP as independent accounting firm; Paul Hastings LLP as counsel; Payden & Rygel Distributors as distributor; Treasury Plus, Inc. as administrator; and UMB Fund Services, Inc. as transfer agent. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE