Payden USD Low Duration Credit Fund USD Acc/  IE00BD1NVL60  /

The investment objective of the Fund is to seek to maximize total return by investing primarily in a portfolio of corporate debt securities, both fixed and floating rate, denominated in US Dollars. Payden & Rygel Global Limited (the "Investment Manager ") will actively select, purchase and sell securities with the aim of meeting the investment objectives of the Fund. The relative duration of the Fund will generally be within +/- 2 years of the duration of the Barclays US 1-5 year Corporate Index. Investments will include, but not be limited to, debt securities of U.S. and non-U.S. issuers. This may include issuers in emerging market countries up to a maximum of 20%. Investments will be primarily denominated in US Dollars, however, investments may be denominated in other currencies, including emerging market currencies. The Fund will invest primarily in investment grade debt securities issued by corporations but may also invest in debt securities issued by government agencies and supranationals. The Fund may also invest in money-market securities and agency mortgage-backed securities. The Fund may use derivatives with the aim of managing interest rate and currency risk more efficiently. The Fund may also use derivatives for both hedging purposes and for taking investment positions. These may include short positions where the Fund seeks to benefit from the sale of an asset that it does not physically own.

The investment objective of the Fund is to seek to maximize total return by investing primarily in a portfolio of corporate debt securities, both fixed and floating rate, denominated in US Dollars.