PKCIX Fees and Costs — Payden Managed Income Fund, (Institutional Class)
Data updated: 2026-09-23
The net expense ratio is 1.27% (1.69% before fee waivers). There are no sales loads or redemption fees. In fiscal 2025 the fund paid $47K in broker commissions, 0.0397% of average net assets, and portfolio turnover was 88%.
PKCIX Fees and Expenses
Annual operating expenses and sales charges of PKCIX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.10% |
| 12b-1 fee | — |
| Other expenses | 0.57% |
| Gross expense ratio | 1.69% |
| Fee waiver | −0.42% |
| Net expense ratio | 1.27% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
PKCIX Costs Over Time
On $10,000 invested in PKCIX, assuming 5% a year before costs, total costs come to $814 over 5 years, cutting the return by 1.38% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.27%) | $133 | $415 | $717 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $21 | $75 |
| Total costs | $138 | $449 | $814 |
| Value after costs | $10,362 | $11,127 | $11,949 |
| Impact on return, per year | 1.38% | 1.38% | 1.38% |
PKCIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0397%
- Total broker commissions: $47K
- Bought from dealers (principal trades, not a cost): $567.3M
- Portfolio turnover (prospectus): 88%
- Securities on loan, average value: $1.3M
- Net income from securities lending: $7K (0.006% of average net assets)
PKCIX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $40K | 86.46% |
| BARCLAYS CAPITAL, INC. | $4K | 9.46% |
| MORGAN STANLEY & CO. LLC | $2K | 3.51% |
| UBS SECURITIES LLC | $200 | 0.43% |
| J.P. MORGAN SECURITIES LLC | $68 | 0.15% |
PKCIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BOFA SECURITIES, INC. | $82.1M | 19.10% |
| J.P. Morgan Securities LLC | $73.6M | 17.14% |
| BMO CAPITAL MARKETS CORP. | $44.3M | 10.31% |
| GOLDMAN SACHS & CO. LLC | $42.4M | 9.86% |
| BNP PARIBAS SECURITIES CORP. | $36.1M | 8.40% |
| WELLS FARGO SECURITIES, LLC | $34.4M | 8.01% |
| CitiGroup Global Markets Inc. | $34.3M | 7.98% |
| MORGAN STANLEY & CO. LLC | $31.7M | 7.38% |
| BARCLAYS CAPITAL, INC. | $30.6M | 7.12% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $20.3M | 4.71% |
Payden Managed Income Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| PKBIX | (SI Class) | 1.27% | — |
| PKCIX | (Institutional Class) | 1.27% | — |
| PKCBX | (Adviser Class) | 1.52% | — |
| PKCRX | (Retirement Class) | 1.77% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.