Fund Description

Incepted in January 1994, Payden & Rygel serves as the investment adviser to the fund. The fund (formerly known as the Payden Investment Quality Bond Fund) seeks a high level of total return that is consistent with preservation of capital. The Core Bond Fund is an intermediate-term domestic bond fund comprised of securities with an investment-grade rating of at least BBB- or higher. Securities in the fund include corporate bonds (domestic and foreign issues denominated in U.S. dollars), mortgage- and asset-backed securities and those issued by the U.S. government. The fund declares and distributes dividends to shareholders monthly. The fund distributes any net realized capital gains from the sale of portfolio securities at least once yearly.