PYCRX

About PYCRX

Payden California Municipal Social Impact Fund is an actively managed municipal bond mutual fund focused on generating tax‑exempt income for California residents while preserving capital. The fund primarily invests in intermediate‑maturity California municipal securities, with a mandate to allocate at least 80% of assets to state and local issuers or other instruments providing similar exposure under normal market conditions. It emphasizes projects whose proceeds align with positive social and environmental outcomes, spanning essential public services such as education, water and infrastructure, housing, and community redevelopment. Most income distributed by the fund is exempt from federal and California state income taxes, making it relevant for California taxpayers seeking a tax‑efficient income vehicle. The portfolio is diversified across sectors and issuers, with an intermediate interest‑rate profile; recent fund materials report an effective duration of approximately 6.6 years and monthly dividend distributions. Launched in 1998 and managed by Payden & Rygel, the strategy targets a balance of income and risk control within the California muni market, using an index of California intermediate municipal bonds as a benchmark reference.