Payden Absolute Return Bond Fund
NAV / Daily Prices
NAV (A$)
11.35
NAV Change (A$)
0.01
Statistics
Hedged Yield to Maturity
5.44%
Effective Duration
2.09 Years
Average Maturity
4.93 Years
Average Fund Credit Rating
BBB+
Number of Issuers
177
Expenses
Management Fee
0.45%
Maximum Total Expense Ratio (TER) Capped at
0.50%
Initial Charge
NONE
Redemption Fee
NONE
Payden Absolute Return Bond Fund - AUD Hedged Accumulating
ICE BofA Australian Dollar Overnight Deposit Bid Rate Index
| Total Returns | Month-End (31 Jan 2026) | ICE BofA Australian Dollar Overnight Deposit Bid Rate Index |
| YTD | 0.56% | 0.29% |
| 1 Year | 4.89% | 3.74% |
| 3 Year | - | - |
| 5 Year | - | - |
| 10 Year | - | - |
| Since Inception | 5.46% | 4.05% |
Yearly Returns
Past performance is no guarantee of future results.
Fund Snapshot
Fund Inception Date
11 Jun 2013
Fund Share Class Inception Date
6 Oct 2023
Fund Share Class
AUD Hedged Accumulating
Hedged
Yes
ISIN Number
IE00B9NH9816
Ticker
PYARBAA
Irish Stock Exchange Listed
Yes
UCITS Compliant
Yes
Liquidity
Daily
Investment Minimum*
A$1,000,000 Initial
Overall Fund AUM
As of 31 Jan 2026
A$1.9 Billion
Total Payden Absolute Return Strategy AUM
As of 31 Dec 2025
A$10.3 Billion
Benchmark
ICE BofA Australian Dollar Overnight Deposit Bid Rate Index
Date as of
Role in Portfolio
Appropriate for investors seeking positive absolute returns and reduced correlations with traditional bond markets.
Investment Strategy
The Payden Absolute Return Bond Fund invests in a multi-sector portfolio of global government, corporate, securitised and emerging market debt as well as select equity-related investments. It moves dynamically among sectors and individual securities with the aim of achieving its overnight deposit rates +3% return objective. The fund takes advantage of Payden's broad investment resources by incorporating the most compelling risk-adjusted opportunities from each sector team. A special emphasis is also placed on risk management and mitigating downside potential.
Why Investors Choose This Fund?
An established track record of over 10 years' experience actively managing absolute return fixed-income accounts.
Fund inception date 11 Jun 2013.
Global markets opportunity set.
KIID SRRI: 3/PRIIPs KID SRI: 2.
Duration Allocation
Duration
Percent of Portfolio
0-1 yr
7%
1-3 yrs
73%
3-5 yrs
14%
5-7 yrs
15%
7+ yrs
-9%
Credit Allocation
Credit
Percent of Portfolio
AAA
20%
AA
9%
A
15%
BBB
24%
BB and Below
29%
Unrated
3%
Sector Allocation
Sector
Percent of Portfolio
Emerging Markets
23%
Mortgage-Backed Securities
21%
Investment Grade Corporates
19%
Asset-Backed Securities
17%
High Yield
9%
CMBS
8%
Other
3%
Market
Markets began the year with a broadly constructive tone, as risk assets delivered positive returns across most sectors, supported by steady earnings and improving investor confidence. January’s data releases suggest solid growth in economic activity, a weak labour market, and moderating inflation. Against this backdrop, fixed-income markets delivered positive returns despite modest upward pressure on interest rates, as income and credit risk premium compression helped offset rate-related headwinds. Credit markets proved resilient, with strong demand supporting compressed credit risk premiums across corporate and structured credit, even as primary market issuance remained elevated. Whilst volatility increased at times amid shifting rate expectations and global headlines, market conditions stabilised into month-end, allowing risk sentiment to improve and supporting performance across a broad range of asset classes.
Outlook
We see a divided path ahead for the US economy, with meaningful upside and downside outcomes driven by the trajectory of the labour market, growth trends, and inflation dynamics. Against this backdrop, and with credit risk premiums reflecting unattractive valuations, we are modestly cautious on downside risk whilst emphasising yield optimisation through disciplined relative-value positioning. Interest rate pricing in the US suggests a "soft-landing", with expectations that the federal funds rate will settle near 3%, and that inflation indicators will remain stable.
We remain constructive on the short- and medium-term of the US Treasury curve, where yields appear more stable than longer-term bonds, which are more affected by supply pressures and policy uncertainty. Within credit, we prefer an elevated degree of exposure to emerging-market debt, as higher real yields, moderating inflation, and ongoing policy easing make these bonds more attractive.
Our positioning in developed-market credit remains selective, whilst we prioritise higher-quality opportunities in securitised credit, such as commercial mortgage-backed securities (CMBS), where credit risk premiums and yields compare favourably to lower-quality corporate alternatives. Overall, we believe this approach strikes a better balance between bond quality, potential price risk, and yield, whilst preserving liquidity and flexibility across portfolios.
1. Returns less than one year are not annualised. Performance does not take account of the commissions and costs incurred on the issue and redemption of shares. Future performance is subject to taxation which depends on the personal situation of each investor, and which may change in the future. Complete information on risks can be found in the prospectus.
Payden Absolute Return Bond Fund is a sub-fund of Payden Global Funds plc, an open-ended investment company with variable capital incorporated under Ireland law and is authorised by FINMA for offering to non-qualified investors. The prospectus for Switzerland, the key investor information documents ("KIID"), the articles, the semi-annual and annual reports and other information can be obtained free of charge from the Fund's representative and paying agent in Switzerland: Reyl & Cie SA., 4, rue de Rhône, 1204 Geneva, Switzerland.
The Fund is actively managed with reference to the ICE BofA Australian Dollar Overnight Deposit Bid Rate Index (the "Index") by virtue of the fact that it seeks to outperform the Index. The investment manager has discretion over the composition of the Fund. Whilst the investment manager does not employ a defined strategy to align with a benchmark during periods of volatility, it will take account of market environment and perceived risks at any given time and will employ its investment discretion as described in the investment policy accordingly.
This is a marketing communication. Please refer to the prospectus of Payden Global Funds plc and to the PRIIPs KID or KIID before making any final investment decision. This material has been prepared by Payden & Rygel Global Limited, a company authorised and regulated by the Financial Conduct Authority of the United Kingdom, and by Payden Global SIM S.p.A., an investment firm authorised and regulated by Italy’s CONSOB with passporting to provide services in certain EU jurisdictions. It is directed exclusively at professional investors or eligible parties and counterparties as defined by the rules of the Financial Conduct Authority or, for EU jurisdictions, by the rules of the Markets in Financial Instruments Directive (“MiFID”), as transposed in the relevant EU jurisdictions, and is not intended for use by retail investors. Suitability/appropriateness of the investment is the responsibility of the investor, no assurance can be given that the stated investment objectives will be achieved, and the value of investments may fall as well as rise. This information does not constitute an invitation or offer to subscribe for or purchase any of the products mentioned which will only be accepted on the basis of the relevant prospectus. The law may restrict distribution of this information in certain jurisdictions, therefore, persons into whose possession this message comes should inform themselves about and observe any such restrictions. Waystone Management Company (IE) Limited, the Manager, is authorised in Ireland and regulated by the Central Bank of Ireland.