Payden Absolute Return Bond Fund - USD ACC Fonds

The Fund aims to achieve a return of 300 basis points above 1 month LIBOR (or the equivalent for each currency share class) over a 3-year period, while seeking preservation of capital. The investment manager will actively select, purchase and sell securities with the aim of meeting the investment objectives of the Fund. In order to achieve its objective the Fund will invest predominantly in a wide variety of fixed and floating rate investment grade and below investment grade debt instruments and income-producing securities traded on regulated markets worldwide, including money-market securities.