PYFRX : Payden Floating Rate Fund Investor Class

Fund Summary

The investment seeks a high level of current income through floating rate debt instruments, with a secondary objective of long-term capital appreciation. The fund invests at least 80% of its total assets in income producing floating rate loans and other floating rate debt instruments. Floating rate loans are typically debt obligations with interest rates that adjust or "float" periodically, often on a daily, monthly, quarterly, or semiannual basis by reference to a base lending rate plus a premium. It invests primarily in senior floating rate loans of domestic and foreign borrowers.