NPORT-EX 2 D_938203.htm HTML
  

 

Payden Emerging Markets Local Bond Fund

 

  

 

Schedule of Investments - July 31, 2020 (Unaudited)

Principal
or Shares		      Security Description   Value
(000)		  
 

Bonds (96%)

  
 

Argentina (ARS) (0%)

  
      8,765,600      YPF SA 144A, 16.50%, 5/09/22 ARS (a)   $ 81  
 

 

 

  
 

Brazil (BRL) (7%)

  
  955,000      Brazil Notas do Tesouro Nacional Serie B, 6.00%, 8/15/26 BRL     745  
  5,949,301      Brazil Notas do Tesouro Nacional Serie B, 6.00%, 8/15/28 BRL     1,425  
  7,267,000      Brazil Notas do Tesouro Nacional Serie F, 10.00%, 1/01/21 BRL     1,438  
  16,246,000      Brazil Notas do Tesouro Nacional Serie F, 10.00%, 1/01/23 BRL     3,557  
  10,810,000      Brazil Notas do Tesouro Nacional Serie F, 10.00%, 1/01/27 BRL     2,513  
 

 

 

  
          9,678  
 

 

 

  
 

Chile (CLP) (3%)

  
  1,090,000,000      Bonos de la Tesoreria de la Republica en pesos, 4.50%, 3/01/26 CLP     1,669  
  695,000,000      Bonos de la Tesoreria de la Republica en pesos, 5.00%, 3/01/35 CLP     1,150  
  410,000,000      Bonos de la Tesoreria de la Republica en pesos, 6.00%, 1/01/43 CLP     808  
  79,000,000      Chile Government International Bond, 5.50%, 8/05/20 CLP     104  
 

 

 

  
    3,731  
 

 

 

  
 

China (CNY) (0%)

  
  1,000,000      China Government Bond, 3.12%, 12/05/26 CNY     145  
 

 

 

  
 

Colombia (COP) (7%)

  
  540,000,000      Colombia Government International Bond, 7.75%, 4/14/21 COP     149  
  2,888,156,250      Colombian TES, 3.30%, 3/17/27 COP     832  
  2,700,000,000      Colombian TES, 6.00%, 4/28/28 COP     758  
  6,401,000,000      Colombian TES, 7.00%, 5/04/22 COP     1,838  
  3,600,000,000      Colombian TES, 7.50%, 8/26/26 COP     1,116  
  2,220,000,000      Colombian TES, 7.75%, 9/18/30 COP     677  
  8,249,000,000      Colombian TES, 10.00%, 7/24/24 COP     2,747  
  900,000,000      Emgesa SA ESP 144A, 8.75%, 1/25/21 COP (a)     246  
  1,245,000,000      Empresas Publicas de Medellin ESP 144A, 7.63%, 9/10/24 COP (a)     353  
  2,003,000,000      Empresas Publicas de Medellin ESP 144A, 8.38%, 11/08/27 COP (a)     563  
  1,585,000,000      Financiera de Desarrollo Territorial SA Findeter 144A, 7.88%, 8/12/24 COP (a)     458  
 

 

 

  
    9,737  
 

 

 

  
 

Czech Republic (CZK) (5%)

  
  11,400,000      Czech Republic Government Bond, 0.95%, 5/15/30 CZK (b)     515  
  13,400,000      Czech Republic Government Bond, 2.00%, 10/13/33 CZK     678  
  39,400,000      Czech Republic Government Bond, 2.40%, 9/17/25 CZK (b)     1,930  
  30,000,000      Czech Republic Government Bond, 2.75%, 7/23/29 CZK     1,573  
  38,320,000      Czech Republic Government Bond, 4.70%, 9/12/22 CZK (b)     1,892  
 

 

 

  
    6,588  
 

 

 

  
             
Principal
or Shares		      Security Description   Value
(000)		  
 

Dominica Republic (DOP) (2%)

  
  78,400,000      Dominican Republic International Bond 144A, 8.90%, 2/15/23 DOP (a)   $ 1,319  
  88,900,000      Dominican Republic International Bond 144A, 9.75%, 6/05/26 DOP (a)     1,491  
 

 

 

  
    2,810  
 

 

 

  
 

Hungary (HUF) (4%)

  
  190,000,000      Hungary Government Bond, 2.50%, 10/24/24 HUF     689  
  140,000,000      Hungary Government Bond, 3.00%, 6/26/24 HUF     514  
  707,000,000      Hungary Government Bond, 3.00%, 8/21/30 HUF     2,628  
  160,000,000      Hungary Government Bond, 3.25%, 10/22/31 HUF     608  
  187,000,000      Hungary Government Bond, 5.50%, 6/24/25 HUF     773  
 

 

 

  
    5,212  
 

 

 

  
 

Indonesia (IDR) (3%)

  
  16,400,000,000      Indonesia Treasury Bond, 8.38%, 3/15/24 IDR     1,221  
  8,900,000,000      Indonesia Treasury Bond, 8.38%, 9/15/26 IDR     672  
  4,500,000,000      Indonesia Treasury Bond, 8.38%, 3/15/34 IDR     335  
  21,440,000,000      Wijaya Karya Persero Tbk PT 144A, 7.70%, 1/31/21 IDR (a)     1,346  
 

 

 

  
    3,574  
 

 

 

  
 

Kazakhstan (KZT) (1%)

  
  620,000,000      Development Bank of Kazakhstan JSC 144A, 8.95%, 5/04/23 KZT (a)     1,396  
 

 

 

  
 

Luxembourg (BRL) (1%)

  
  6,650,000      Swiss Insured Brazil Power Finance Sarl 144A, 9.85%, 7/16/32 BRL (a)     1,482  
 

 

 

  
 

Malaysia (MYR) (5%)

  
  6,510,000      Malaysia Government Bond, 3.89%, 3/15/27 MYR     1,690  
  8,500,000      Malaysia Government Bond, 3.89%, 8/15/29 MYR     2,219  
  7,100,000      Malaysia Government Bond, 3.90%, 11/16/27 MYR     1,853  
  4,715,000      Malaysia Government Bond, 4.39%, 4/15/26 MYR     1,243  
  1,700,000      Malaysia Government Bond, 4.76%, 4/07/37 MYR     477  
 

 

 

  
          7,482  
 

 

 

  
 

Mexico (MXN) (10%)

  
  72,300      America Movil SAB de CV, 6.45%, 12/05/22 MXN     331  
  10,700,000      Comision Federal de Electricidad, 7.35%, 11/25/25 MXN     466  
  7,270,000      Grupo Televisa SAB, 7.25%, 5/14/43 MXN     252  
  7,570,000      Mexican Bonos, 7.75%, 11/23/34 MXN     390  
  24,620,000      Mexican Bonos, 7.75%, 11/13/42 MXN     1,234  
  25,100,000      Mexican Bonos, 8.00%, 12/07/23 MXN     1,243  
  47,300,000      Mexican Bonos, 8.00%, 11/07/47 MXN     2,422  
  104,200,000      Mexican Bonos, 8.50%, 5/31/29 MXN     5,593  
  10,600,000      Mexican Bonos, 8.50%, 11/18/38 MXN     575  
             
 

 

1        Payden Mutual Funds

 

            

 

Principal
or Shares		      Security Description   Value
(000)		  
  9,200,000      Petroleos Mexicanos, 7.19%, 9/12/24 MXN   $ 360  
  16,240,000      Petroleos Mexicanos 144A, 7.65%, 11/24/21 MXN (a)     723  
 

 

 

  
          13,589  
 

 

 

  
 

Peru (PEN) (6%)

  
  3,100,000      Banco de Credito del Peru 144A, 4.65%, 9/17/24 PEN (a)     913  
  402,000      Banco de Credito del Peru 144A, 4.85%, 10/30/20 PEN (a)     115  
  2,085,000      Peru Government Bond 144A, 5.35%, 8/12/40 PEN (a)(b)     614  
  4,930,000      Peru Government Bond 144A, 5.40%, 8/12/34 PEN (a)(b)     1,524  
  1,610,000      Peru Government Bond 144A, 5.94%, 2/12/29 PEN (a)(b)     547  
  3,810,000      Peru Government Bond 144A, 6.15%, 8/12/32 PEN (a)(b)     1,280  
  2,660,000      Peruvian Government International Bond 144A, 5.35%, 8/12/40 PEN (a)     783  
  2,055,000      Peruvian Government International Bond 144A, 6.35%, 8/12/28 PEN (a)     715  
  4,030,000      Peruvian Government International Bond 144A, 6.95%, 8/12/31 PEN (a)     1,445  
 

 

 

  
    7,936  
 

 

 

  
 

Philippines (PHP) (0%)

  
  17,000,000      Philippine Government International Bond, 6.25%, 1/14/36 PHP     448  
 

 

 

  
 

Poland (PLN) (4%)

  
  7,120,000      Republic of Poland Government Bond, 2.50%, 4/25/24 PLN     2,052  
  5,320,000      Republic of Poland Government Bond, 2.50%, 7/25/26 PLN     1,558  
  6,215,000      Republic of Poland Government Bond, 4.00%, 10/25/23 PLN     1,859  
  900,000      Republic of Poland Government Bond, 5.75%, 9/23/22 PLN     269  
 

 

 

  
    5,738  
 

 

 

  
 

Romania (RON) (2%)

  
  5,800,000      Romania Government Bond, 3.65%, 9/24/31 RON     1,337  
  5,200,000      Romania Government Bond, 5.00%, 2/12/29 RON     1,362  
  2,050,000      Romania Government Bond, 5.80%, 7/26/27 RON     563  
 

 

 

  
    3,262  
 

 

 

  
 

Russian Federation (RUB) (8%)

  
  45,150,000      Russian Federal Bond - OFZ, 6.90%, 5/23/29 RUB     656  
  257,375,000      Russian Federal Bond - OFZ, 7.05%, 1/19/28 RUB     3,781  
  149,000,000      Russian Federal Bond - OFZ, 7.70%, 3/23/33 RUB     2,298  
  38,000,000      Russian Federal Bond - OFZ, 7.70%, 3/16/39 RUB     598  
  276,770,000      Russian Federal Bond - OFZ, 8.15%, 2/03/27 RUB     4,305  
 

 

 

  
    11,638  
 

 

 

  
             
Principal
or Shares		      Security Description   Value
(000)		  
 

South Africa (ZAR) (8%)

  
  81,910,000      Republic of South Africa Government Bond, 6.50%, 2/28/41 ZAR   $ 3,046  
  41,730,000      Republic of South Africa Government Bond, 7.00%, 2/28/31 ZAR     2,009  
  23,000,000      Republic of South Africa Government Bond, 8.25%, 3/31/32 ZAR     1,171  
  22,000,000      Republic of South Africa Government Bond, 8.50%, 1/31/37 ZAR     1,032  
  16,200,000      Republic of South Africa Government Bond, 8.75%, 2/28/48 ZAR     735  
  32,000,000      Republic of South Africa Government Bond, 8.88%, 2/28/35 ZAR     1,602  
  10,460,000      Republic of South Africa Government Bond, 10.50%, 12/21/26 ZAR     700  
  11,200,000      Transnet SOC Ltd. 144A, 9.50%, 5/13/21 ZAR (a)     672  
 

 

 

  
          10,967  
 

 

 

  
 

South Korea (MXN) (0%)

  
  12,000,000      Export-Import Bank of Korea, 7.93%, 7/30/26 MXN     597  
 

 

 

  
 

Thailand (THB) (7%)

  
  8,400,000      Thailand Government Bond, 2.88%, 6/17/46 THB     315  
  31,500,000      Thailand Government Bond, 3.30%, 6/17/38 THB     1,244  
  48,500,000      Thailand Government Bond, 3.40%, 6/17/36 THB     1,938  
  170,000      Thailand Government Bond, 3.65%, 12/17/21 THB     6  
  70,500,000      Thailand Government Bond, 3.65%, 6/20/31 THB     2,785  
  72,800,000      Thailand Government Bond, 4.88%, 6/22/29 THB     3,050  
 

 

 

  
    9,338  
 

 

 

  
 

Turkey (TRY) (2%)

  
  3,778,279      Turkey Government Bond, 3.00%, 2/23/22 TRY     563  
  7,200,000      Turkey Government Bond, 7.10%, 3/08/23 TRY     919  
  5,640,000      Turkey Government Bond, 11.00%, 3/02/22 TRY     803  
 

 

 

  
    2,285  
 

 

 

  
 

Ukraine (UAH) (0%)

  
  11,570,000      Ukraine Government International Bond 144A, 11.67%, 11/22/23 UAH (a)     412  
 

 

 

  
 

United Kingdom (IDR) (4%)

  
  59,000,000,000      Standard Chartered Bank 144A, 8.25%, 5/19/36 IDR (a)     4,354  
  17,200,000,000      Standard Chartered Bank 144A, 8.38%, 3/17/34 IDR (a)     1,278  
 

 

 

  
    5,632  
 

 

 

  
 

United States (IDR) (4%)

  
  32,200,000,000      JPMorgan Chase Bank N.A. (Indonesia Treasury Bond) 144A, 8.38%, 3/17/34 IDR (a)     2,400  
  10,000,000,000      JPMorgan Chase Bank N.A. (Indonesia Treasury Bond) 144A, 8.75%, 5/19/31 IDR (a)     767  
  31,994,000,000      JPMorgan Chase Bank N.A. (Indonesia Treasury Bond) 144A, 9.50%, 7/17/31 IDR (a)     2,572  
 

 

 

  
    5,739  
 

 

 

  
             
 

 

   2

  

 

Payden Emerging Markets Local Bond Fund continued

 

  

 

Principal
or Shares		      Security Description   Value
(000)		  
 

United States (UAH) (2%)

  
  19,500,000      Citigroup Global Markets Holdings Inc. 144A, 15.92%, 11/19/21 UAH (a)   $ 760  
  31,500,000      Citigroup Global Markets Holdings Inc. (Republic of Ukraine) 144A, 13.41%, 10/17/22 UAH (a)     1,239  
 

 

 

  
    1,999  
 

 

 

  
 

Uruguay (UYU) (1%)

  
  33,050,000      Uruguay Government International Bond, 3.88%, 7/02/40 UYU     843  
  28,236,754      Uruguay Government International Bond, 4.38%, 12/15/28 UYU     722  
  10,970,000      Uruguay Government International Bond 144A, 8.50%, 3/15/28 UYU (a)     255  
 

 

 

  
             1,820  
    

 

 

  
 

Total Bonds (Cost - $143,008)

     133,316  
    

 

 

  
             
Principal
or Shares		      Security Description  

Value

(000)

  
 

Investment Company (0%)

  
  814,084     

Payden Cash Reserves Money Market Fund *

(Cost - $814)

   $ 814  
    

 

 

  
 

Total Investments (Cost - $143,822) (96%)

           134,130  
 

Other Assets, net of Liabilities (4%)

     5,312  
    

 

 

  
 

Net Assets (100%)

   $ 139,442  
    

 

 

  
             
*

Affiliated investment

(a)

Security offered only to qualified institutional investors, and thus is not registered for sale to the public under rule 144A of the Securities Act of 1933. It has been deemed liquid under guidelines approved by the Board.

(b)

Security offered and sold outside the United States, and thus is exempt from registration under Regulation S of the Securities Act of 1933. It has been deemed liquid under guidelines approved by the Board.

 

 

3        Payden Mutual Funds

 

            

 

Open Forward Currency Contracts to USD

 

Currency

Purchased

  (000s)

   

Currency

Sold

(000s)

    Counterparty    Settlement
Date		    Unrealized
Appreciation
(Depreciation)
(000s)

Assets:

                

$CLP 803,800

    USD 1,024    HSBC Bank USA, N.A.        10/19/2020      $ 39

CNH 38,410

    USD 5,452    HSBC Bank USA, N.A.        10/29/2020        13

COP 2,584,000

    USD 686    HSBC Bank USA, N.A.        08/18/2020        5

CZK 42,150

    USD 1,676    HSBC Bank USA, N.A.        09/14/2020        217

HUF 404,400

    USD 1,345    HSBC Bank USA, N.A.        10/21/2020        38

INR 50,900

    USD 673    HSBC Bank USA, N.A.        10/14/2020        2

MXN 45,460

    USD 2,011    HSBC Bank USA, N.A.        10/20/2020        11

MYR 5,265

    USD 1,205    Barclays Bank PLC        08/24/2020        35

PHP 25,150

    USD 506    HSBC Bank USA, N.A.        10/15/2020        4

PLN 30,280

    USD 7,709    HSBC Bank USA, N.A.        10/26/2020        380

RUB 147,610

    USD 1,953    HSBC Bank USA, N.A.        08/07/2020        34

THB 146,420

    USD 4,541    Barclays Bank PLC        08/11/2020        154

USD 4,639

    PEN 15,909    Barclays Bank PLC        09/22/2020        141

USD 110

    IDR 1,608,000    HSBC Bank USA, N.A.        09/10/2020        —

USD 163

    TRY 1,167    HSBC Bank USA, N.A.        10/22/2020        5

ZAR 40,190

    USD 2,258    Barclays Bank PLC        09/21/2020        80
               

 

 

  
                  1,158
               

 

 

  

Liabilities:

                

BRL 9,845

    USD 1,927    Barclays Bank PLC        09/16/2020        (43 )

PEN 4,383

    USD 1,290    Barclays Bank PLC        09/22/2020        (50 )

PEN 4,737

    USD 1,346    HSBC Bank USA, N.A.        09/22/2020        (6 )

USD 2,704

    THB 87,820    Barclays Bank PLC        08/11/2020        (113 )

USD 1,686

    MYR 7,232    Barclays Bank PLC        08/24/2020        (18 )

USD 675

    BRL 3,687    Barclays Bank PLC        09/16/2020        (31 )

USD 945

    ZAR 16,850    Barclays Bank PLC        09/21/2020        (35 )

USD 681

    PHP 33,800    Barclays Bank PLC        10/15/2020        (4 )

USD 3,503

    COP 13,875,000    HSBC Bank USA, N.A.        08/18/2020        (208 )

USD 14

    CZK 320    HSBC Bank USA, N.A.        09/14/2020        (1 )

USD 2,442

    ZAR 45,220    HSBC Bank USA, N.A.        09/21/2020        (189 )

USD 674

    INR 50,900    HSBC Bank USA, N.A.        10/14/2020        (1 )

USD 407

    CLP 322,600    HSBC Bank USA, N.A.        10/19/2020        (19 )

USD 1,343

    HUF 416,000    HSBC Bank USA, N.A.        10/21/2020        (79 )

USD 77

    RON 328    HSBC Bank USA, N.A.        10/27/2020        (3 )

USD 1,920

    EGP 32,550    HSBC Bank USA, N.A.        11/09/2020        (64 )
               

 

 

  
                  (864 )
               

 

 

  

Net Unrealized Appreciation (Depreciation)

                 $ 294
               

 

 

  

Open OTC Interest Rate Swap Contracts

 

Description    Maturity
Date		    Notional
Amount
(000s)		    Value
(000s)		   Upfront
payments/
receipts
(000s)		    Unrealized
Depreciation
(000s)

Barclays Bank, 5-Year Interest Rate Swap, Receive Fixed 2.35%

Quarterly, Pay Variable 2.10% (CNRR007) Quarterly

        03/05/2025      $ 15,750      $ (23 )     $ —      $ (23 )

BNP PARIBAS, 5-Year Interest Rate Swap, Receive Fixed 2.22%

Quarterly, Pay Variable 1.90% (CNRR007) Quarterly

        06/17/2025        19,190        (45 )       —        (45 )
              

 

 

      

 

 

       

 

 

  
               $ (68 )     $ —      $ (68 )
              

 

 

      

 

 

       

 

 

  

 

   4

  

 

Payden Emerging Markets Local Bond Fund continued

 

  

 

Open Centrally Cleared Interest Rate Swap Contracts

 

Description    Maturity
Date		    Notional
Amount
(000s)		    Value
(000s)		   Upfront
payments/
receipts
(000s)		    Unrealized
Depreciation
(000s)

5-Year Interest Rate Swap, Receive Fixed 2.50% Quarterly, Pay

Variable 2.40% (CNRR007) Quarterly

        07/28/2025      $ 21,710      $ (13 )     $ —      $ (13 )
                       

 

 

  

 

5        Payden Mutual Funds