Payden Low Duration Fund corrects portfolio maturity to four years

By Toni Weeks

San Diego, March 12 - The Payden Low Duration Fund, formerly the Payden Global Short Bond Fund, made a correction in a 497 filing with the Securities and Exchange Commission to the portfolio maturity listed for the fund in its Feb. 28 prospectus.

The fund invests in debt securities of any maturity. Under normal market conditions, the fund's maximum average portfolio maturity on a dollar-weighted basis is four years. The prospectus stated incorrectly that the maturity was three years.

Los Angeles-based Payden & Rygel is the fund's investment adviser.

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