LOS
ANGELES, April 18, 2024 /PRNewswire/ -- Payden
& Rygel, one of the largest, privately-held global investment
advisory firms, today announced its California Municipal Social
Impact Fund (PYCRX) is the recipient of a 2024 LSEG Lipper Fund
Award.
"The 2024 LSEG Lipper Fund Awards are recognizing perhaps the
most dramatic three-year period that the markets have seen in
decades. Fund managers being recognized have steered their
investors through a pandemic, a mild recession, a war, skyrocketing
inflation and dramatic central bank intervention," said
Robert Jenkins, Global Head of
Research, Investment & Wealth LSEG Lipper.
'We applaud the 2024 LSEG Lipper Fund Award winners such as
Payden & Rygel for delivering outperformance and the
accompanying comfort of consistency to investors' portfolios
through a cross-current of global market disruptions," he
added.
PYCRX was recognized in the California Intermediate Municipal
Debt Funds category as the best fund over five- and ten-years. The
fund generally invests in intermediate-maturity municipal
bonds that are exempt from Federal, state, and local taxes for
California residents. The fund
seeks to provide attractive current income while preserving
capital. Holdings are diversified across sectors and issuers.
About Payden & Rygel
With $151 billion under
management, Payden & Rygel is one of the largest
privately-owned global investment advisers and a leader in the
active management of fixed income and equity portfolios. Advising
the world's leading institutions and individual investors, Payden
provides strong performance and real-world strategies on the global
economy and capital markets, is a leader in asset management and
includes among its clients, Central Banks, Pension Funds, Insurance
Companies, Private Banks, and Foundations. Independent and
privately-owned, Payden & Rygel is headquartered in
Los Angeles and has offices in
Boston, London, and Milan.
About LSEG Lipper Fund Award
For more than 30 years and in over 17 countries worldwide, the
highly-respected LSEG Lipper Awards have honored funds and fund
management firms that have excelled in providing consistently
strong risk-adjusted performance relative to their peers and focus
the investment world on top-funds. The merit of the winners is
based on entirely objective, quantitative criteria. This coupled
with the unmatched depth of fund data, results in a unique level
of prestige and ensures the award has lasting value. Renowned
fund data and proprietary methodology is the foundation of this
prestigious award qualification, recognizing excellence in fund
management. Find out more at www.lipperfundawards.com.
LSEG Lipper Fund Awards, ©2024 LSEG. All rights reserved.
Used under license.
The LSEG Lipper Fund Awards, granted annually, highlight
funds and fund companies that have excelled in delivering
consistently strong risk-adjusted performance relative to their
peers. The LSEG Lipper Fund Awards are based on the Lipper
Leader for Consistent Return rating, which is an objective,
quantitative, risk-adjusted performance measure calculated over 36,
60 and 120 months. The fund with the highest Lipper Leader for
Consistent Return (Effective Return) value in each eligible
classification wins the LSEG Lipper Fund Award. For more
information, see lipperfundawards.com. Although
LSEG Lipper makes reasonable efforts to ensure the accuracy and
reliability of the data used to calculate the awards, their
accuracy is not guaranteed.
Past performance does not guarantee future results.
Investment returns and principal value will fluctuate, so
investors' shares, when sold, may be worth more or less than their
original cost. For the most recent month-end performance, which may
be higher or lower than that quoted, visit our website at
payden.com or call 800 572-9336.
For more information and to obtain a prospectus or summary
prospectus, visit payden.com or call 800 572-9336. Before
investing, investors should carefully read and consider investment
objectives, risks, charges, expenses and other important
information about the Fund, which is contained in these documents.
Income from municipal securities may be subject to the Federal
alternative minimum tax. The Paydenfunds are distributed through
Payden & Rygel Distributors, member FINRA
Social Impact Investing Risk: The Fund's policy of investing
in municipal securities for which, in the Adviser's opinion, the
proceeds raised are used consistent with positive social and/or
environmental practices and outcomes could cause the Fund to
perform differently compared to other mutual funds that do not have
such a policy. The factors that the Adviser considers in evaluating
an investment's positive social and/or environmental benefits are
part of a proprietary security selection methodology and may change
over time. There are differences in interpretations of what it
means to promote positive social and/or environmental benefits.
While the Adviser believes its definitions are reasonable, the
portfolio decisions it makes may differ with others' views.
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SOURCE Payden & Rygel