Fund Evaluator:
Payden Managed Income SI (PKBIX)
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Best Performing in Multisector Bond Over the Last Year
| 7.1% | Morningstar Multisector Bond (MSTMX) |
| 6.0% | Fidelity Advisor Strategic Income Z (FIWDX) |
| 5.4% | Russell Inv Opportunistic Credit Y (RGCYX) |
| 5.4% | Russell Inv Opportunistic Credit M (RGOTX) |
| 5.2% | Payden Managed Income SI (PKBIX) |
Fund Details
Payden Managed Income SI Overview
Payden Managed Income SI (PKBIX) is an actively managed Taxable Bond Multisector Bond fund. Paydenfunds launched the fund in 2008.
The investment seeks income and total return consistent with preservation of capital. The fund invests in a wide variety of debt instruments and income-producing securities. It invests in both investment grade debt securities and securities rated below investment grade. The fund may invest up to 40% of its total assets in securities issued by governments, agencies and instrumentalities of emerging market countries, and other issuers organized or headquartered in emerging market countries.
About Payden Managed Income SI (PKBIX)
There are 5 members of the management team with an average tenure of 6.22 years: Kristin Ceva (2025), Eric Souders (2020), Alec Small (2025), Nigel Jenkins (2022), Brian Matthews (2009). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and ICE BofA US 1 Month Treasury Bill TR USD index with a weighting of 100%. Payden Managed Income SI has 372 securities in its portfolio. The top 10 holdings constitute 175.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Payden Managed Income SI is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Payden Managed Income SI has 26.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -0.2%. There is 0.5% allocated to foreign stock, and 3.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 149.2% (123.4% domestic bond, 25.9% foreign bond and 0.0% convertible bond). Payden Managed Income SI has -52.8% of the portfolio in cash.
Assets Under Management
The fund has $76 million in total assets, which is below the $1 billion average for the Multisector Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
PKBIX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Payden Managed Income SI expense ratio is above average compared to funds in the Multisector Bond category. Payden Managed Income SI has an expense ratio of 0.67%, which is 29% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Payden Managed Income SI has a portfolio turnover rate of 218%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.
Recently, in the month of July 2026, Payden Managed Income SI returned 0.5%, which earned it a grade of A, as the Multisector Bond category had an average return of -0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Payden Managed Income SI has a trailing yield of 8.08%, which is above the 5.31% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Payden Managed Income SI Grades
Year to date, the fund has returned 2.1%, 1.3 percentage points better than the category, which translates into a grade of A. The fund has returned 5.2% over the past year (grade of A), 6.5% over the past three years (grade of C) and 3.9% per year over the past five years (grade of A) and 3.5% per year over the past 10 years (grade of C).
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PKBIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| PKBIX Return (NAV) | 0.5% | 1.3% | 5.2% | 6.5% | 3.9% | 3.5% |
| PKBIX Grade | A | A | A | C | A | C |
| +/- Category | 1.2% | 1.3% | 0.9% | 0.2% | 1.5% | 0.0% |
| Multisector Bond Avg | -0.7% | 0.0% | 4.3% | 6.3% | 2.4% | 3.5% |
| PKBIX Tax Cost Ratio | na | na | 3.1% | 2.6% | 1.9% | 1.5% |
PKBIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| PKBIX Return (NAV) | 2.1% | 6.7% | 8.1% | 6.2% | -3.9% | 4.0% | 1.9% | 6.4% | 0.8% | 3.2% | 2.7% |
| PKBIX Grade | A | F | A | F | A | A | F | F | A | F | F |
| +/- Category | 1.3% | -1.3% | 2.4% | -2.2% | 6.2% | 1.7% | -4.5% | -3.9% | 2.7% | -3.4% | -4.8% |
| Multisector Bond Avg | 0.9% | 8.1% | 5.7% | 8.4% | -10.1% | 2.2% | 6.3% | 10.3% | -1.9% | 6.6% | 7.5% |
| Risk Measures | |
| Standard Deviation: | 1.7% |
| Total Risk Index: | 0.14 - Low |
| Category Risk Index: | 0.37 - Low |
| Category Risk Grade: | A (3% Rank) |
| Beta: | 0.13 |
| R-Squared: | 19% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | Medium Quality Limited Sensitivity |
| Yield: | 8.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $117 Mil |
| Fund Total Assets: | $ 77 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 218% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 17.4 years | |||
| Average Tenure: 6.2 years | |||
| Managers (Year): Matthews Brian (2009), Souders Eric (2020), Jenkins Nigel (2022), Ceva Kristin (2025), Small Alec (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 372 |
| % in Top 10 Holdings: | 175.6% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 26.4% |
Portfolio Allocation |
|
| Domestic Stock: | -0.2% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 3.3% |
| Domestic Bond: | 123.4% |
| Foreign Bond: | 25.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | -52.8% |
Purchase Information
| Fund Family: | Paydenfunds |
| Phone Number: | 800-572-9336 |
| Website: | www.payden.com |
| Status: | Open |
| Inception Date: | September 22, 2008 |
| Min. Initial Purchase: | $25,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.67% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Payden Managed Income SI |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
