Payden Absolute Return Bond Fund Investor Class PYARX Strategy

The investment seeks a high level of total return that is consistent with preservation of capital. Under normal market conditions, the fund will invest at least 80% of its investable assets (net assets plus borrowing for investment purposes, if any) in bonds or investments that provide exposure to bonds. The fund's absolute return strategy seeks to have positive absolute returns over the long term, regardless of different market environments. To achieve this goal, the fund seeks to provide total return, whether through price appreciation, or income, or a combination of both.