Payden Emerging Markets Local Bond Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 29.65 21.08 8.57
Stocks 0.0 0.0 0.0
Bonds 3.42 0.0 3.42
Other 0.0 0.07 -0.07
Foreign Bonds 89.64 1.56 88.08
Foreign Stocks 0.0 0.0 0.0
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 12.31.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 12.31.2013

% Net Assets
Russian Federation 8.15% 4.11
Poland(Rep Of) 4.75% 2.86
Mexico(Utd Mex St) 6.5% 2.85
Malaysia 4.262% 2.52
Secretaria Tesouro Nacl 6% 2.51
Mexico(Utd Mex St) 8% 2.36
Poland(Rep Of) 5.25% 2.14
Foederative Republik Brasilien, Bras 10% 1.92
Brazil(Fed Rep Of) 10% 1.78
Sth Africa(Rep Of) 6.25% 1.72

Bond Ratings (%)

Updated 12.31.2013

Sector PYEAX
AAA 3.0
AA 0.2
A 12.4
BBB 57.0
BB 23.3
B 3.7
Below B 0.0
Other 0.4