PYCLX

About PYCLX

Payden California Municipal Social Impact Fund – Adviser Class is an actively managed municipal bond mutual fund focused on generating tax-exempt income while emphasizing capital preservation. It invests primarily in intermediate‑maturity municipal securities issued in California, with income generally exempt from federal and California state taxes for residents. The strategy targets bonds whose proceeds support positive social and environmental outcomes, aligning the portfolio with identifiable public-benefit projects across areas such as education, transportation, essential services, and environmental infrastructure. The fund’s approach emphasizes sector and issuer diversification and maintains a high overall credit profile, avoiding non‑investment‑grade exposure according to third‑party assessments. Managed by Payden & Rygel’s experienced fixed‑income team, the portfolio uses duration and credit selection to balance income with interest‑rate risk, positioning it as a potential core tax‑exempt allocation for California-focused investors seeking municipal exposure. The fund references intermediate municipal benchmarks and publishes metrics such as effective duration, average maturity, and SEC yield to guide risk and income expectations.