<PAGE> PAGE 1
000 B000000 10/31/98
000 C000000 0000885709
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 PAYDEN & RYGEL INVESTMENT GROUP
001 B000000 811-6625
001 C000000 2136251900
002 A000000 333 SOUTH GRAND AVENUE
002 B000000 LOS ANGELES
002 C000000 CA
002 D010000 90071
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 19
007 C010100 1
007 C020100 PAYDEN & RYGEL GLOBAL FIXED INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 PAYDEN & RYGEL TAX EXEMPT BOND FUND
007 C030200 N
007 C010300 3
007 C020300 PAYDEN & RYGEL SHORT BOND FUND
007 C030300 N
007 C010400 4
007 C020400 PAYDEN & RYGEL INTERMEDIATE BOND FUND
007 C030400 N
007 C010500 5
007 C020500 PAYDEN & RYGEL INVESTMENT QUALITY BOND FUND
007 C030500 N
007 C010600 6
007 C020600 PAYDEN & RYGEL LIMITED MATURITY FUND
007 C030600 N
007 C010700 7
007 C020700 PAYDEN & RYGEL SHORT DURATION TAX EXEMPT FUND
007 C030700 N
007 C010800 8
007 C010900 9
007 C020900 PAYDEN & RYGEL U.S. GOVERNMENT FUND
007 C030900 N
007 C011000 10
007 C011100 11
007 C021100 PAYDEN & RYGEL MARKET RETURN FUND
007 C031100 N
<PAGE> PAGE 2
007 C011200 12
007 C021200 PAYDEN & RYGEL GLOBAL SHORT BOND FUND
007 C031200 N
007 C011300 13
007 C021300 PAYDEN & RYGEL GROWTH & INCOME FUND
007 C031300 N
007 C011400 14
007 C021400 PAYDEN & RYGEL TOTAL RETURN FUND
007 C031400 N
007 C011500 15
007 C021500 PAYDEN & RYGEL GLOBAL BALANCED FUND
007 C031500 N
007 C011600 16
007 C021600 PAYDEN & RYGEL INTERNATIONAL EQUITY FUND
007 C031600 N
007 C011700 17
007 C021700 PAYDEN & RYGEL EUROPEAN GROWTH & INCOME FUND
007 C031700 N
007 C011800 18
007 C021800 BUNKER HILL MONEY MARKET FUND
007 C031800 N
007 C011900 19
007 C021900 PAYDEN & RYGEL VALUE STOCK FUND
007 C031900 N
007 C012000 20
007 C022000 PAYDEN & RYGEL GROWTH STOCK FUND
007 C032000 N
007 C012100 21
007 C022100 PAYDEN & RYGEL HIGH INCOME FUND
007 C032100 N
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
<PAGE> PAGE 3
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
010 A00AA01 TREASURY PLUS, INC.
010 C01AA01 LOS ANGELES
010 C02AA01 CA
010 C03AA01 90071
011 A00AA01 PAYDEN & RYGEL DISTRIBUTORS
011 B00AA01 8-44622
011 C01AA01 LOS ANGELES
011 C02AA01 CA
011 C03AA01 90071
012 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
012 B00AA01 84-5634
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 DAYTON
013 B02AA01 OH
013 B03AA01 45402
014 A00AA01 PAYDEN & RYGEL DISTRIBUTORS
014 B00AA01 8-44622
015 A00AA01 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02109
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 WARBURG DILLON READ
020 C000001 194
020 A000002 MORGAN STANLEY
020 C000002 138
020 A000003 GOLDMAN SACHS
020 C000003 98
020 A000004 CIBC-OPPENHEIMEIR
020 C000004 38
020 A000005 STEPHANS
020 C000005 28
020 A000006 DONALDSON, LUFKIN, JENRETTE
020 C000006 25
020 A000007 MERRILL LYNCH
020 C000007 11
<PAGE> PAGE 4
020 A000008 ALEX BROWN
020 C000008 7
020 A000009 MORGAN GRENFELL
020 C000009 6
020 A000010 NATWEST
020 C000010 5
021 000000 601
022 A000001 HONG KONG AND SHANGHAI BANKING
022 C000001 1106575
022 D000001 410355
022 A000002 SALONMON SMITH BARNEY
022 C000002 623753
022 D000002 477088
022 A000003 BEAR STEARNS
022 C000003 577751
022 D000003 490065
022 A000004 MERRILL LYNCH
022 C000004 561028
022 D000004 459693
022 A000005 GOLDMAN SACHS
022 C000005 542803
022 D000005 255499
022 A000006 MORGAN STANLEY
022 C000006 436641
022 D000006 305854
022 A000007 LEHMAN BROTHERS
022 C000007 234673
022 D000007 230423
022 A000008 DEUTSCHE BANK
022 C000008 175821
022 D000008 198706
022 A000009 J.P. MORGAN
022 C000009 214829
022 D000009 154096
022 A000010 DONALDSON, LUFKIN, JENRETTE
022 C000010 197926
022 D000010 121656
023 C000000 6352883
023 D000000 4430430
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
<PAGE> PAGE 5
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
077 A000000 N
078 000000 N
080 A00AA00 GULF INSURANCE COMPANY
080 B00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
<PAGE> PAGE 6
080 C00AA00 40000
081 A00AA00 Y
081 B00AA00 19
082 A00AA00 Y
082 B00AA00 50
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 N
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 PAYDEN & RYGEL
008 B000101 A
008 C000101 801-19762
008 D010101 LOS ANGELES
008 D020101 CA
008 D030101 90071
028 A010100 8120
028 A020100 1215
028 A030100 0
028 A040100 5557
028 B010100 10142
028 B020100 0
028 B030100 0
028 B040100 25457
028 C010100 11645
028 C020100 446
028 C030100 0
028 C040100 7688
028 D010100 46170
028 D020100 1913
028 D030100 0
028 D040100 10742
028 E010100 33987
028 E020100 83
028 E030100 0
028 E040100 10757
028 F010100 17796
028 F020100 2036
<PAGE> PAGE 7
028 F030100 0
028 F040100 80450
028 G010100 127860
028 G020100 5693
028 G030100 0
028 G040100 140651
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 2000000
048 A020100 0.300
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 2000000
048 K020100 0.250
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 N
060 B000100 N
061 000100 2000
062 A000100 Y
062 B000100 0.0
062 C000100 0.2
062 D000100 0.0
<PAGE> PAGE 8
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.2
062 M000100 36.2
062 N000100 6.6
062 O000100 0.0
062 P000100 6.1
062 Q000100 62.2
062 R000100 0.0
063 A000100 0
063 B000100 8.9
064 A000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 Y
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 Y
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 N
070 N020100 N
070 O010100 Y
<PAGE> PAGE 9
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 1037031
071 B000100 1011000
071 C000100 462092
071 D000100 219
072 A000100 12
072 B000100 29186
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 1558
072 G000100 312
072 H000100 0
072 I000100 69
072 J000100 139
072 K000100 0
072 L000100 102
072 M000100 53
072 N000100 28
072 O000100 0
072 P000100 0
072 Q000100 158
072 R000100 44
072 S000100 6
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 81
072 X000100 2550
072 Y000100 0
072 Z000100 26636
072AA000100 20449
072BB000100 0
072CC010100 11222
072CC020100 0
072DD010100 20851
072DD020100 0
072EE000100 0
073 A010100 0.4213
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 994
<PAGE> PAGE 10
074 D000100 566491
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 1359
074 J000100 0
074 K000100 0
074 L000100 0
074 M000100 31616
074 N000100 600460
074 O000100 75603
074 P000100 56
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 151
074 S000100 0
074 T000100 524650
074 U010100 48100
074 U020100 0
074 V010100 10.91
074 V020100 0.00
074 W000100 0.0000
074 X000100 432
074 Y000100 155180
075 A000100 0
075 B000100 516776
076 000100 0.00
008 A000201 PAYDEN & RYGEL
008 B000201 A
008 C000201 801-19762
008 D010201 LOS ANGELES
008 D020201 CA
008 D030201 90071
028 A010200 110
028 A020200 178
028 A030200 0
028 A040200 3439
028 B010200 2088
028 B020200 179
028 B030200 0
028 B040200 294
028 C010200 5
028 C020200 196
028 C030200 0
028 C040200 1447
028 D010200 2239
028 D020200 164
028 D030200 0
<PAGE> PAGE 11
028 D040200 4150
028 E010200 3862
028 E020200 172
028 E030200 0
028 E040200 661
028 F010200 1246
028 F020200 191
028 F030200 0
028 F040200 834
028 G010200 9550
028 G020200 1080
028 G030200 0
028 G040200 10825
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 500000
048 A020200 0.320
048 B010200 500000
048 B020200 0.280
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 1000000
048 K020200 0.250
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
059 000200 Y
<PAGE> PAGE 12
060 A000200 N
060 B000200 N
061 000200 2000
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.3
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.4
062 M000200 0.0
062 N000200 0.0
062 O000200 97.8
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 10.3
064 A000200 Y
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 Y
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
<PAGE> PAGE 13
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 36661
071 B000200 22884
071 C000200 63509
071 D000200 36
072 A000200 12
072 B000200 3006
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 211
072 G000200 40
072 H000200 0
072 I000200 7
072 J000200 10
072 K000200 0
072 L000200 12
072 M000200 7
072 N000200 18
072 O000200 0
072 P000200 0
072 Q000200 25
072 R000200 19
072 S000200 1
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 -30
072 X000200 320
072 Y000200 0
072 Z000200 2686
072AA000200 0
072BB000200 15
072CC010200 1200
072CC020200 0
072DD010200 2639
072DD020200 0
<PAGE> PAGE 14
072EE000200 0
073 A010200 0.6784
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 200
074 D000200 66410
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 275
074 J000200 0
074 K000200 0
074 L000200 0
074 M000200 1421
074 N000200 68306
074 O000200 0
074 P000200 380
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 37
074 S000200 0
074 T000200 67889
074 U010200 6844
074 U020200 0
074 V010200 9.92
074 V020200 0.00
074 W000200 0.0000
074 X000200 89
074 Y000200 16160
075 A000200 0
075 B000200 65530
076 000200 0.00
008 A000301 PAYDEN & RYGEL
008 B000301 A
008 C000301 801-19762
008 D010301 LOS ANGELES
008 D020301 CA
008 D030301 90071
028 A010300 932
028 A020300 488
028 A030300 0
028 A040300 4685
028 B010300 2023
028 B020300 607
028 B030300 0
<PAGE> PAGE 15
028 B040300 37199
028 C010300 49736
028 C020300 439
028 C030300 0
028 C040300 2279
028 D010300 167317
028 D020300 825
028 D030300 0
028 D040300 160921
028 E010300 25
028 E020300 549
028 E030300 0
028 E040300 18460
028 F010300 1682
028 F020300 519
028 F030300 0
028 F040300 86
028 G010300 221715
028 G020300 3427
028 G030300 0
028 G040300 223630
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 1000000
048 A020300 0.280
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 1000000
048 K020300 0.250
049 000300 N
050 000300 N
051 000300 N
<PAGE> PAGE 16
052 000300 N
053 A000300 Y
053 B000300 Y
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 N
060 B000300 N
061 000300 100000
062 A000300 Y
062 B000300 0.0
062 C000300 2.3
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 16.2
062 N000300 27.6
062 O000300 0.0
062 P000300 49.1
062 Q000300 12.7
062 R000300 0.0
063 A000300 0
063 B000300 9.6
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 Y
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
<PAGE> PAGE 17
070 H010300 N
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 Y
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 588694
071 B000300 539983
071 C000300 90600
071 D000300 596
072 A000300 12
072 B000300 6468
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 286
072 G000300 61
072 H000300 0
072 I000300 21
072 J000300 13
072 K000300 0
072 L000300 21
072 M000300 11
072 N000300 28
072 O000300 0
072 P000300 0
072 Q000300 39
072 R000300 19
072 S000300 1
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 -193
072 X000300 307
072 Y000300 0
<PAGE> PAGE 18
072 Z000300 6161
072AA000300 0
072BB000300 180
072CC010300 588
072CC020300 0
072DD010300 6063
072DD020300 0
072EE000300 0
073 A010300 0.6336
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 2397
074 D000300 114674
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 0
074 M000300 12430
074 N000300 129501
074 O000300 20207
074 P000300 475
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 158
074 S000300 0
074 T000300 108661
074 U010300 10928
074 U020300 0
074 V010300 9.94
074 V020300 0.00
074 W000300 0.0000
074 X000300 68
074 Y000300 4000
075 A000300 0
075 B000300 97172
076 000300 0.00
008 A000401 PAYDEN & RYGEL
008 B000401 A
008 C000401 801-19762
008 D010401 LOS ANGELES
008 D020401 CA
008 D030401 90071
<PAGE> PAGE 19
028 A010400 6025
028 A020400 434
028 A030400 0
028 A040400 550
028 B010400 10328
028 B020400 531
028 B030400 0
028 B040400 606
028 C010400 425
028 C020400 590
028 C030400 0
028 C040400 23643
028 D010400 11812
028 D020400 367
028 D030400 0
028 D040400 209
028 E010400 456
028 E020400 379
028 E030400 0
028 E040400 12769
028 F010400 16
028 F020400 574
028 F030400 0
028 F040400 8234
028 G010400 29062
028 G020400 2875
028 G030400 0
028 G040400 46011
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.000
048 A010400 1000000
048 A020400 0.280
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
<PAGE> PAGE 20
048 J010400 0
048 J020400 0.000
048 K010400 1000000
048 K020400 0.250
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 N
060 B000400 N
061 000400 100000
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 -1.7
062 L000400 0.7
062 M000400 17.5
062 N000400 21.4
062 O000400 1.1
062 P000400 71.9
062 Q000400 5.2
062 R000400 0.0
063 A000400 0
063 B000400 9.2
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 Y
070 C020400 Y
070 D010400 N
<PAGE> PAGE 21
070 D020400 N
070 E010400 Y
070 E020400 Y
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 N
070 M020400 N
070 N010400 N
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 319713
071 B000400 110976
071 C000400 92009
071 D000400 121
072 A000400 12
072 B000400 6677
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 287
072 G000400 62
072 H000400 0
072 I000400 22
072 J000400 11
072 K000400 0
072 L000400 15
072 M000400 11
072 N000400 27
072 O000400 0
072 P000400 0
072 Q000400 37
072 R000400 19
<PAGE> PAGE 22
072 S000400 1
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 -88
072 X000400 404
072 Y000400 0
072 Z000400 6272
072AA000400 1103
072BB000400 0
072CC010400 360
072CC020400 0
072DD010400 6160
072DD020400 0
072EE000400 492
073 A010400 0.5836
073 A020400 0.0000
073 B000400 0.0511
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 3996
074 D000400 101372
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 605
074 J000400 3264
074 K000400 0
074 L000400 0
074 M000400 1584
074 N000400 110821
074 O000400 21638
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 0
074 S000400 311
074 T000400 88872
074 U010400 9072
074 U020400 0
074 V010400 9.80
074 V020400 0.00
074 W000400 0.0000
074 X000400 49
074 Y000400 3000
075 A000400 0
075 B000400 106152
<PAGE> PAGE 23
076 000400 0.00
008 A000501 PAYDEN & RYGEL
008 B000501 A
008 C000501 801-19762
008 D010501 LOS ANGELES
008 D020501 CA
008 D030501 90071
028 A010500 16951
028 A020500 964
028 A030500 0
028 A040500 763
028 B010500 27421
028 B020500 851
028 B030500 0
028 B040500 2406
028 C010500 2755
028 C020500 701
028 C030500 0
028 C040500 1822
028 D010500 3993
028 D020500 1012
028 D030500 0
028 D040500 4667
028 E010500 7830
028 E020500 849
028 E030500 0
028 E040500 1029
028 F010500 5496
028 F020500 685
028 F030500 0
028 F040500 22099
028 G010500 64446
028 G020500 5062
028 G030500 0
028 G040500 32786
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 1000000
048 A020500 0.280
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
<PAGE> PAGE 24
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 1000000
048 K020500 0.250
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 N
060 B000500 N
061 000500 2000
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 6.3
062 J000500 0.0
062 K000500 -1.7
062 L000500 0.1
062 M000500 18.3
062 N000500 41.6
062 O000500 0.0
062 P000500 55.0
062 Q000500 12.0
062 R000500 0.0
063 A000500 0
063 B000500 12.9
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
<PAGE> PAGE 25
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 Y
070 C020500 Y
070 D010500 N
070 D020500 N
070 E010500 Y
070 E020500 Y
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 Y
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 Y
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 285213
071 B000500 211812
071 C000500 135563
071 D000500 156
072 A000500 12
072 B000500 9512
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 405
072 G000500 87
072 H000500 0
072 I000500 27
072 J000500 20
072 K000500 0
072 L000500 23
<PAGE> PAGE 26
072 M000500 16
072 N000500 58
072 O000500 0
072 P000500 0
072 Q000500 50
072 R000500 20
072 S000500 2
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 -66
072 X000500 642
072 Y000500 0
072 Z000500 8871
072AA000500 2080
072BB000500 0
072CC010500 1196
072CC020500 0
072DD010500 8682
072DD020500 0
072EE000500 525
073 A010500 1.1933
073 A020500 0.0000
073 B000500 0.0521
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 10565
074 D000500 218146
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 2944
074 I000500 121
074 J000500 0
074 K000500 0
074 L000500 0
074 M000500 3333
074 N000500 235109
074 O000500 60627
074 P000500 427
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 81
074 S000500 0
074 T000500 173974
074 U010500 17111
074 U020500 0
074 V010500 10.17
<PAGE> PAGE 27
074 V020500 0.00
074 W000500 0.0000
074 X000500 104
074 Y000500 6000
075 A000500 0
075 B000500 144634
076 000500 0.00
008 A000601 PAYDEN & RYGEL
008 B000601 A
008 C000601 801-19762
008 D010601 LOS ANGELES
008 D020601 CA
008 D030601 90071
028 A010600 1644
028 A020600 702
028 A030600 0
028 A040600 12315
028 B010600 30505
028 B020600 715
028 B030600 0
028 B040600 19317
028 C010600 6640
028 C020600 108
028 C030600 0
028 C040600 31852
028 D010600 5775
028 D020600 561
028 D030600 0
028 D040600 9855
028 E010600 12997
028 E020600 555
028 E030600 0
028 E040600 37786
028 F010600 19806
028 F020600 506
028 F030600 0
028 F040600 10880
028 G010600 77367
028 G020600 3147
028 G030600 0
028 G040600 122005
028 H000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.000
048 A010600 1000000
048 A020600 0.280
048 B010600 0
048 B020600 0.000
048 C010600 0
<PAGE> PAGE 28
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 1000000
048 K020600 0.250
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 N
055 A000600 Y
055 B000600 N
056 000600 Y
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 N
060 B000600 N
061 000600 100000
062 A000600 Y
062 B000600 0.0
062 C000600 4.2
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 6.8
062 J000600 0.0
062 K000600 0.0
062 L000600 2.5
062 M000600 8.4
062 N000600 23.1
062 O000600 0.0
062 P000600 32.7
062 Q000600 21.6
062 R000600 0.0
063 A000600 0
063 B000600 0.9
<PAGE> PAGE 29
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 Y
070 I020600 N
070 J010600 Y
070 J020600 Y
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 Y
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 168191
071 B000600 98540
071 C000600 108373
071 D000600 91
072 A000600 12
072 B000600 8473
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 404
<PAGE> PAGE 30
072 G000600 87
072 H000600 0
072 I000600 29
072 J000600 18
072 K000600 0
072 L000600 24
072 M000600 15
072 N000600 5
072 O000600 0
072 P000600 0
072 Q000600 54
072 R000600 20
072 S000600 2
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 -233
072 X000600 425
072 Y000600 0
072 Z000600 8048
072AA000600 0
072BB000600 31
072CC010600 192
072CC020600 0
072DD010600 7957
072DD020600 0
072EE000600 0
073 A010600 0.5551
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 0
074 C000600 12920
074 D000600 100365
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
074 I000600 2919
074 J000600 0
074 K000600 0
074 L000600 0
074 M000600 1612
074 N000600 117816
074 O000600 0
074 P000600 739
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
<PAGE> PAGE 31
074 R040600 35
074 S000600 0
074 T000600 117042
074 U010600 11608
074 U020600 0
074 V010600 10.08
074 V020600 0.00
074 W000600 0.0000
074 X000600 143
074 Y000600 0
075 A000600 0
075 B000600 143947
076 000600 0.00
008 A000701 PAYDEN & RYGEL
008 B000701 A
008 C000701 801-19762
008 D010701 LOS ANGELES
008 D020701 CA
008 D030701 90071
028 A010700 35
028 A020700 81
028 A030700 0
028 A040700 528
028 B010700 34
028 B020700 50
028 B030700 0
028 B040700 1222
028 C010700 1252
028 C020700 53
028 C030700 0
028 C040700 310
028 D010700 155
028 D020700 72
028 D030700 0
028 D040700 4834
028 E010700 525
028 E020700 46
028 E030700 0
028 E040700 221
028 F010700 482
028 F020700 47
028 F030700 0
028 F040700 816
028 G010700 2483
028 G020700 349
028 G030700 0
028 G040700 7931
028 H000700 0
045 000700 Y
046 000700 N
047 000700 Y
<PAGE> PAGE 32
048 000700 0.000
048 A010700 500000
048 A020700 0.320
048 B010700 500000
048 B020700 0.280
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 1000000
048 K020700 0.250
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 N
055 A000700 N
055 B000700 N
056 000700 Y
057 000700 N
058 A000700 N
059 000700 Y
060 A000700 N
060 B000700 N
061 000700 2000
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 2.3
062 M000700 0.0
062 N000700 0.0
<PAGE> PAGE 33
062 O000700 96.1
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 0
063 B000700 0.7
064 A000700 Y
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 N
070 B010700 N
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 Y
070 E020700 Y
070 F010700 N
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 Y
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 Y
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 N
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 N
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 12530
071 B000700 31169
<PAGE> PAGE 34
071 C000700 23693
071 D000700 132
072 A000700 12
072 B000700 1109
072 C000700 0
072 D000700 0
072 E000700 0
072 F000700 80
072 G000700 15
072 H000700 0
072 I000700 13
072 J000700 7
072 K000700 0
072 L000700 0
072 M000700 2
072 N000700 9
072 O000700 0
072 P000700 0
072 Q000700 13
072 R000700 18
072 S000700 0
072 T000700 0
072 U000700 0
072 V000700 0
072 W000700 -46
072 X000700 111
072 Y000700 0
072 Z000700 998
072AA000700 140
072BB000700 0
072CC010700 0
072CC020700 21
072DD010700 990
072DD020700 0
072EE000700 25
073 A010700 0.4108
073 A020700 0.0000
073 B000700 0.0076
073 C000700 0.0000
074 A000700 0
074 B000700 0
074 C000700 0
074 D000700 16165
074 E000700 0
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 385
074 J000700 0
074 K000700 0
074 L000700 0
<PAGE> PAGE 35
074 M000700 1609
074 N000700 18159
074 O000700 1014
074 P000700 304
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 16
074 S000700 0
074 T000700 16825
074 U010700 1665
074 U020700 0
074 V010700 10.11
074 V020700 0.00
074 W000700 0.0000
074 X000700 45
074 Y000700 3000
075 A000700 0
075 B000700 25189
076 000700 0.00
008 A000901 PAYDEN & RYGEL
008 B000901 A
008 C000901 801-19762
008 D010901 LOS ANGELES
008 D020901 CA
008 D030901 90071
028 A010900 70
028 A020900 317
028 A030900 0
028 A040900 51
028 B010900 68
028 B020900 323
028 B030900 0
028 B040900 229
028 C010900 752
028 C020900 335
028 C030900 0
028 C040900 15
028 D010900 1194
028 D020900 303
028 D030900 0
028 D040900 261
028 E010900 265
028 E020900 273
028 E030900 0
028 E040900 3066
028 F010900 1393
028 F020900 376
028 F030900 0
028 F040900 2931
<PAGE> PAGE 36
028 G010900 3742
028 G020900 1927
028 G030900 0
028 G040900 6553
028 H000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.000
048 A010900 1000000
048 A020900 0.280
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 1000000
048 K020900 0.250
049 000900 N
050 000900 N
051 000900 N
052 000900 N
053 A000900 Y
053 B000900 Y
055 A000900 N
055 B000900 N
056 000900 Y
057 000900 N
058 A000900 N
059 000900 Y
060 A000900 N
060 B000900 N
061 000900 2000
062 A000900 Y
062 B000900 0.0
062 C000900 4.1
062 D000900 0.0
062 E000900 0.0
<PAGE> PAGE 37
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 1.0
062 M000900 22.3
062 N000900 79.5
062 O000900 0.0
062 P000900 15.7
062 Q000900 5.0
062 R000900 0.0
063 A000900 0
063 B000900 11.1
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 N
070 B010900 N
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 Y
070 E020900 Y
070 F010900 N
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 Y
070 I020900 N
070 J010900 N
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
070 O010900 N
070 O020900 N
070 P010900 N
<PAGE> PAGE 38
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 204432
071 B000900 156267
071 C000900 54513
071 D000900 287
072 A000900 12
072 B000900 3510
072 C000900 0
072 D000900 0
072 E000900 0
072 F000900 172
072 G000900 37
072 H000900 0
072 I000900 17
072 J000900 7
072 K000900 0
072 L000900 9
072 M000900 6
072 N000900 36
072 O000900 0
072 P000900 0
072 Q000900 24
072 R000900 18
072 S000900 1
072 T000900 0
072 U000900 0
072 V000900 0
072 W000900 -119
072 X000900 208
072 Y000900 0
072 Z000900 3302
072AA000900 557
072BB000900 0
072CC010900 835
072CC020900 0
072DD010900 3232
072DD020900 0
072EE000900 0
073 A010900 0.5470
073 A020900 0.0000
073 B000900 0.0000
073 C000900 0.0000
074 A000900 0
074 B000900 0
074 C000900 2974
074 D000900 88012
074 E000900 0
<PAGE> PAGE 39
074 F000900 0
074 G000900 0
074 H000900 0
074 I000900 710
074 J000900 0
074 K000900 0
074 L000900 0
074 M000900 881
074 N000900 92577
074 O000900 20418
074 P000900 248
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 56
074 S000900 0
074 T000900 71855
074 U010900 6592
074 U020900 0
074 V010900 10.90
074 V020900 0.00
074 W000900 0.0000
074 X000900 52
074 Y000900 25795
075 A000900 0
075 B000900 58791
076 000900 0.00
008 A001101 PAYDEN & RYGEL
008 B001101 A
008 C001101 801-19762
008 D011101 LOS ANGELES
008 D021101 CA
008 D031101 90071
028 A011100 1181
028 A021100 178
028 A031100 0
028 A041100 69
028 B011100 1437
028 B021100 146
028 B031100 0
028 B041100 1543
028 C011100 6167
028 C021100 171
028 C031100 0
028 C041100 143
028 D011100 2205
028 D021100 171
028 D031100 0
028 D041100 599
028 E011100 239
<PAGE> PAGE 40
028 E021100 151
028 E031100 0
028 E041100 57
028 F011100 1154
028 F021100 195
028 F031100 0
028 F041100 1833
028 G011100 12383
028 G021100 1012
028 G031100 0
028 G041100 4244
028 H001100 0
045 001100 Y
046 001100 N
047 001100 Y
048 001100 0.000
048 A011100 1000000
048 A021100 0.280
048 B011100 0
048 B021100 0.000
048 C011100 0
048 C021100 0.000
048 D011100 0
048 D021100 0.000
048 E011100 0
048 E021100 0.000
048 F011100 0
048 F021100 0.000
048 G011100 0
048 G021100 0.000
048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 1000000
048 K021100 0.250
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 N
055 A001100 N
055 B001100 N
056 001100 Y
057 001100 N
058 A001100 N
059 001100 Y
060 A001100 N
060 B001100 N
<PAGE> PAGE 41
061 001100 2000
062 A001100 Y
062 B001100 0.0
062 C001100 19.5
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 4.5
062 M001100 12.1
062 N001100 20.7
062 O001100 0.0
062 P001100 24.9
062 Q001100 16.7
062 R001100 0.0
063 A001100 0
063 B001100 8.8
064 A001100 N
066 A001100 N
067 001100 N
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 Y
070 F011100 Y
070 F021100 Y
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 Y
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 Y
070 L011100 Y
070 L021100 Y
<PAGE> PAGE 42
070 M011100 N
070 M021100 N
070 N011100 N
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 49962
071 B001100 12166
071 C001100 25413
071 D001100 48
072 A001100 12
072 B001100 2122
072 C001100 13
072 D001100 0
072 E001100 0
072 F001100 97
072 G001100 21
072 H001100 0
072 I001100 18
072 J001100 13
072 K001100 0
072 L001100 5
072 M001100 4
072 N001100 19
072 O001100 0
072 P001100 0
072 Q001100 16
072 R001100 17
072 S001100 0
072 T001100 0
072 U001100 22
072 V001100 0
072 W001100 -77
072 X001100 155
072 Y001100 0
072 Z001100 1980
072AA001100 0
072BB001100 1974
072CC011100 4015
072CC021100 0
072DD011100 1919
072DD021100 0
072EE001100 1742
073 A011100 0.7116
073 A021100 0.0000
<PAGE> PAGE 43
073 B001100 0.9714
073 C001100 0.0000
074 A001100 0
074 B001100 0
074 C001100 8444
074 D001100 31254
074 E001100 0
074 F001100 1045
074 G001100 0
074 H001100 0
074 I001100 1944
074 J001100 0
074 K001100 0
074 L001100 0
074 M001100 1004
074 N001100 43691
074 O001100 3
074 P001100 258
074 Q001100 0
074 R011100 0
074 R021100 0
074 R031100 0
074 R041100 40
074 S001100 0
074 T001100 43390
074 U011100 3261
074 U021100 0
074 V011100 13.31
074 V021100 0.00
074 W001100 0.0000
074 X001100 212
074 Y001100 2000
075 A001100 0
075 B001100 34015
076 001100 0.00
008 A001201 PAYDEN & RYGEL
008 B001201 A
008 C001201 801-19762
008 D011201 LOS ANGELES
008 D021201 CA
008 D031201 90071
028 A011200 19
028 A021200 1284
028 A031200 0
028 A041200 6645
028 B011200 4163
028 B021200 2061
028 B031200 0
028 B041200 1940
028 C011200 21
028 C021200 354
<PAGE> PAGE 44
028 C031200 0
028 C041200 616
028 D011200 2093
028 D021200 1647
028 D031200 0
028 D041200 1520
028 E011200 14
028 E021200 177
028 E031200 0
028 E041200 89978
028 F011200 55156
028 F021200 1596
028 F031200 0
028 F041200 6
028 G011200 61466
028 G021200 7119
028 G031200 0
028 G041200 100705
028 H001200 0
045 001200 Y
046 001200 N
047 001200 Y
048 001200 0.000
048 A011200 2000000
048 A021200 0.300
048 B011200 0
048 B021200 0.000
048 C011200 0
048 C021200 0.000
048 D011200 0
048 D021200 0.000
048 E011200 0
048 E021200 0.000
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 2000000
048 K021200 0.250
049 001200 N
050 001200 N
051 001200 N
052 001200 N
053 A001200 N
055 A001200 N
<PAGE> PAGE 45
055 B001200 N
056 001200 Y
057 001200 N
058 A001200 N
059 001200 Y
060 A001200 N
060 B001200 N
061 001200 100000
062 A001200 Y
062 B001200 0.0
062 C001200 0.0
062 D001200 0.0
062 E001200 0.0
062 F001200 0.0
062 G001200 0.0
062 H001200 0.0
062 I001200 0.0
062 J001200 0.0
062 K001200 0.0
062 L001200 1.5
062 M001200 18.3
062 N001200 9.5
062 O001200 0.0
062 P001200 0.0
062 Q001200 69.0
062 R001200 0.0
063 A001200 0
063 B001200 2.9
064 A001200 N
064 B001200 N
066 A001200 N
067 001200 N
068 A001200 N
068 B001200 Y
069 001200 N
070 A011200 Y
070 A021200 N
070 B011200 N
070 B021200 N
070 C011200 Y
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 Y
070 E021200 Y
070 F011200 N
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 N
070 H021200 N
<PAGE> PAGE 46
070 I011200 Y
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 Y
070 K021200 Y
070 L011200 Y
070 L021200 Y
070 M011200 Y
070 M021200 Y
070 N011200 N
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 N
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 661256
071 B001200 621625
071 C001200 253378
071 D001200 245
072 A001200 12
072 B001200 13074
072 C001200 0
072 D001200 0
072 E001200 0
072 F001200 813
072 G001200 163
072 H001200 0
072 I001200 40
072 J001200 100
072 K001200 0
072 L001200 45
072 M001200 30
072 N001200 39
072 O001200 0
072 P001200 0
072 Q001200 92
072 R001200 28
072 S001200 4
072 T001200 0
072 U001200 0
072 V001200 0
072 W001200 -149
072 X001200 1205
072 Y001200 0
072 Z001200 11870
072AA001200 7398
<PAGE> PAGE 47
072BB001200 0
072CC011200 1272
072CC021200 0
072DD011200 16747
072DD021200 0
072EE001200 0
073 A011200 0.6337
073 A021200 0.0000
073 B001200 0.0000
073 C001200 0.0000
074 A001200 0
074 B001200 0
074 C001200 0
074 D001200 243639
074 E001200 0
074 F001200 0
074 G001200 0
074 H001200 0
074 I001200 3790
074 J001200 0
074 K001200 0
074 L001200 0
074 M001200 8748
074 N001200 256177
074 O001200 4148
074 P001200 324
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 96
074 S001200 0
074 T001200 251609
074 U011200 24413
074 U021200 0
074 V011200 10.31
074 V021200 0.00
074 W001200 0.0000
074 X001200 41
074 Y001200 7500
075 A001200 0
075 B001200 263759
076 001200 0.00
008 A001301 PAYDEN & RYGEL
008 B001301 A
008 C001301 801-19762
008 D011301 LOS ANGELES
008 D021301 CA
008 D031301 90071
028 A011300 68652
028 A021300 0
<PAGE> PAGE 48
028 A031300 0
028 A041300 4378
028 B011300 7783
028 B021300 388
028 B031300 0
028 B041300 7315
028 C011300 5146
028 C021300 0
028 C031300 0
028 C041300 5222
028 D011300 9482
028 D021300 0
028 D031300 0
028 D041300 5626
028 E011300 6968
028 E021300 1421
028 E031300 0
028 E041300 5134
028 F011300 5993
028 F021300 0
028 F031300 0
028 F041300 4862
028 G011300 104024
028 G021300 1809
028 G031300 0
028 G041300 32537
028 H001300 0
045 001300 Y
046 001300 N
047 001300 Y
048 001300 0.000
048 A011300 2000000
048 A021300 0.500
048 B011300 0
048 B021300 0.000
048 C011300 0
048 C021300 0.000
048 D011300 0
048 D021300 0.000
048 E011300 0
048 E021300 0.000
048 F011300 0
048 F021300 0.000
048 G011300 0
048 G021300 0.000
048 H011300 0
048 H021300 0.000
048 I011300 0
048 I021300 0.000
048 J011300 0
048 J021300 0.000
<PAGE> PAGE 49
048 K011300 2000000
048 K021300 0.300
049 001300 N
050 001300 N
051 001300 N
052 001300 N
053 A001300 Y
053 B001300 Y
053 C001300 N
055 A001300 N
055 B001300 N
056 001300 Y
057 001300 N
058 A001300 N
058 B001300 N
058 C001300 N
058 D001300 N
058 E001300 N
059 001300 Y
060 A001300 N
060 B001300 N
061 001300 2000
062 A001300 N
062 B001300 0.0
062 C001300 0.0
062 D001300 0.0
062 E001300 0.0
062 F001300 0.0
062 G001300 0.0
062 H001300 0.0
062 I001300 0.0
062 J001300 0.0
062 K001300 0.0
062 L001300 0.0
062 M001300 0.0
062 N001300 0.0
062 O001300 0.0
062 P001300 0.0
062 Q001300 0.0
062 R001300 0.0
063 A001300 0
063 B001300 0.0
066 A001300 Y
066 E001300 Y
067 001300 N
068 A001300 N
068 B001300 N
069 001300 N
070 A011300 Y
070 A021300 N
070 B011300 Y
<PAGE> PAGE 50
070 B021300 N
070 C011300 Y
070 C021300 N
070 D011300 Y
070 D021300 N
070 E011300 N
070 E021300 N
070 F011300 Y
070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 Y
070 H021300 N
070 I011300 Y
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 Y
070 K021300 Y
070 L011300 N
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 N
070 N021300 N
070 O011300 Y
070 O021300 N
070 P011300 N
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300 83479
071 B001300 20683
071 C001300 212810
071 D001300 10
072 A001300 12
072 B001300 377
072 C001300 4315
072 D001300 0
072 E001300 0
072 F001300 1120
072 G001300 134
072 H001300 0
072 I001300 191
072 J001300 24
072 K001300 0
072 L001300 30
072 M001300 23
072 N001300 61
<PAGE> PAGE 51
072 O001300 0
072 P001300 0
072 Q001300 74
072 R001300 21
072 S001300 3
072 T001300 0
072 U001300 4
072 V001300 0
072 W001300 -480
072 X001300 1205
072 Y001300 0
072 Z001300 3487
072AA001300 5751
072BB001300 0
072CC011300 18949
072CC021300 0
072DD011300 3885
072DD021300 0
072EE001300 22
073 A011300 0.2445
073 A021300 0.2404
073 B001300 0.0015
073 C001300 0.0000
074 A001300 0
074 B001300 0
074 C001300 0
074 D001300 0
074 E001300 0
074 F001300 236408
074 G001300 0
074 H001300 0
074 I001300 13984
074 J001300 0
074 K001300 0
074 L001300 0
074 M001300 585
074 N001300 250977
074 O001300 104
074 P001300 222
074 Q001300 0
074 R011300 0
074 R021300 0
074 R031300 0
074 R041300 98
074 S001300 0
074 T001300 250553
074 U011300 17335
074 U021300 0
074 V011300 14.45
074 V021300 0.00
074 W001300 0.0000
<PAGE> PAGE 52
074 X001300 7453
074 Y001300 0
075 A001300 0
075 B001300 219965
076 001300 0.00
008 A001401 PAYDEN & RYGEL
008 B001401 A
008 C001401 801-19762
008 D011401 LOS ANGELES
008 D021401 CA
008 D031401 90071
028 A011400 2
028 A021400 348
028 A031400 0
028 A041400 459
028 B011400 3450
028 B021400 347
028 B031400 0
028 B041400 1765
028 C011400 377
028 C021400 294
028 C031400 0
028 C041400 68
028 D011400 100326
028 D021400 937
028 D031400 0
028 D041400 6022
028 E011400 175
028 E021400 1307
028 E031400 0
028 E041400 1310
028 F011400 5504
028 F021400 1095
028 F031400 0
028 F041400 3
028 G011400 109834
028 G021400 4328
028 G031400 0
028 G041400 9627
028 H001400 0
045 001400 Y
046 001400 N
047 001400 Y
048 001400 0.000
048 A011400 1000000
048 A021400 0.280
048 B011400 0
048 B021400 0.000
048 C011400 0
048 C021400 0.000
048 D011400 0
<PAGE> PAGE 53
048 D021400 0.000
048 E011400 0
048 E021400 0.000
048 F011400 0
048 F021400 0.000
048 G011400 0
048 G021400 0.000
048 H011400 0
048 H021400 0.000
048 I011400 0
048 I021400 0.000
048 J011400 0
048 J021400 0.000
048 K011400 1000000
048 K021400 0.250
049 001400 N
050 001400 N
051 001400 N
052 001400 N
053 A001400 N
055 A001400 N
055 B001400 N
056 001400 Y
057 001400 N
058 A001400 N
058 B001400 N
058 C001400 N
058 D001400 N
058 E001400 N
059 001400 Y
060 A001400 N
060 B001400 N
061 001400 100000
062 A001400 Y
062 B001400 0.0
062 C001400 22.9
062 D001400 0.0
062 E001400 0.0
062 F001400 0.0
062 G001400 0.0
062 H001400 0.0
062 I001400 0.0
062 J001400 0.0
062 K001400 -1.7
062 L001400 2.2
062 M001400 25.8
062 N001400 29.3
062 O001400 0.0
062 P001400 26.5
062 Q001400 2.4
062 R001400 0.0
<PAGE> PAGE 54
063 A001400 0
063 B001400 9.7
066 A001400 N
067 001400 N
068 A001400 N
068 B001400 N
069 001400 N
070 A011400 Y
070 A021400 N
070 B011400 N
070 B021400 N
070 C011400 Y
070 C021400 Y
070 D011400 N
070 D021400 N
070 E011400 Y
070 E021400 Y
070 F011400 N
070 F021400 N
070 G011400 Y
070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 Y
070 I021400 N
070 J011400 Y
070 J021400 Y
070 K011400 Y
070 K021400 Y
070 L011400 Y
070 L021400 Y
070 M011400 Y
070 M021400 Y
070 N011400 N
070 N021400 N
070 O011400 Y
070 O021400 N
070 P011400 N
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
071 A001400 243496
071 B001400 181757
071 C001400 87357
071 D001400 208
072 A001400 12
072 B001400 6291
072 C001400 0
072 D001400 0
<PAGE> PAGE 55
072 E001400 0
072 F001400 270
072 G001400 58
072 H001400 0
072 I001400 22
072 J001400 19
072 K001400 0
072 L001400 19
072 M001400 12
072 N001400 30
072 O001400 0
072 P001400 0
072 Q001400 36
072 R001400 20
072 S001400 1
072 T001400 0
072 U001400 1
072 V001400 0
072 W001400 -59
072 X001400 429
072 Y001400 0
072 Z001400 5863
072AA001400 1187
072BB001400 0
072CC011400 541
072CC021400 0
072DD011400 7580
072DD021400 0
072EE001400 762
073 A011400 0.7123
073 A021400 0.0000
073 B001400 0.0772
073 C001400 0.0000
074 A001400 0
074 B001400 0
074 C001400 46674
074 D001400 175094
074 E001400 1850
074 F001400 0
074 G001400 0
074 H001400 0
074 I001400 1250
074 J001400 0
074 K001400 0
074 L001400 0
074 M001400 2788
074 N001400 227656
074 O001400 52784
074 P001400 180
074 Q001400 0
074 R011400 0
<PAGE> PAGE 56
074 R021400 0
074 R031400 0
074 R041400 80
074 S001400 0
074 T001400 174612
074 U011400 17065
074 U021400 0
074 V011400 10.23
074 V021400 0.00
074 W001400 0.0000
074 X001400 53
074 Y001400 6500
075 A001400 0
075 B001400 99639
076 001400 0.00
008 A001501 PAYDEN & RYGEL
008 B001501 A
008 C001501 801-19762
008 D011501 LOS ANGELES
008 D021501 CA
008 D031501 90071
008 A001502 SCOTTISH WIDOWS INVESTMENT MANAGEMENT LIMITED
008 B001502 S
008 C001502 801-33075
008 D011502 EDINBURGH
008 D051502 SCOTLAND, U.K.
008 D061502 EH165BU
008 A001503 METZLER/PAYDEN LLC
008 B001503 S
008 C001503 801-55721
008 D011503 LOS ANGELES
008 D021503 CA
008 D031503 90071
028 A011500 31
028 A021500 0
028 A031500 0
028 A041500 1
028 B011500 26
028 B021500 34
028 B031500 0
028 B041500 0
028 C011500 7
028 C021500 0
028 C031500 0
028 C041500 1
028 D011500 1
028 D021500 0
028 D031500 0
028 D041500 2448
028 E011500 1
028 E021500 0
<PAGE> PAGE 57
028 E031500 0
028 E041500 42
028 F011500 187
028 F021500 0
028 F031500 0
028 F041500 360
028 G011500 253
028 G021500 34
028 G031500 0
028 G041500 2852
028 H001500 0
045 001500 Y
046 001500 Y
047 001500 Y
048 001500 0.000
048 A011500 1000000
048 A021500 0.500
048 B011500 0
048 B021500 0.000
048 C011500 0
048 C021500 0.000
048 D011500 0
048 D021500 0.000
048 E011500 0
048 E021500 0.000
048 F011500 0
048 F021500 0.000
048 G011500 0
048 G021500 0.000
048 H011500 0
048 H021500 0.000
048 I011500 0
048 I021500 0.000
048 J011500 0
048 J021500 0.000
048 K011500 1000000
048 K021500 0.400
049 001500 N
050 001500 N
051 001500 N
052 001500 N
053 A001500 N
055 A001500 N
055 B001500 N
056 001500 Y
057 001500 N
058 A001500 N
058 B001500 N
058 C001500 N
058 D001500 N
058 E001500 N
<PAGE> PAGE 58
059 001500 Y
060 A001500 N
060 B001500 N
061 001500 2000
062 A001500 Y
062 B001500 0.0
062 C001500 0.0
062 D001500 0.0
062 E001500 0.0
062 F001500 0.0
062 G001500 0.0
062 H001500 0.0
062 I001500 0.0
062 J001500 0.0
062 K001500 0.0
062 L001500 17.3
062 M001500 17.8
062 N001500 0.0
062 O001500 0.0
062 P001500 0.0
062 Q001500 70.4
062 R001500 0.0
063 A001500 0
063 B001500 5.0
066 A001500 Y
066 G001500 Y
067 001500 Y
068 A001500 N
068 B001500 Y
069 001500 N
070 A011500 Y
070 A021500 N
070 B011500 Y
070 B021500 N
070 C011500 Y
070 C021500 N
070 D011500 Y
070 D021500 N
070 E011500 Y
070 E021500 Y
070 F011500 Y
070 F021500 Y
070 G011500 Y
070 G021500 N
070 H011500 Y
070 H021500 N
070 I011500 N
070 I021500 N
070 J011500 Y
070 J021500 N
070 K011500 Y
<PAGE> PAGE 59
070 K021500 Y
070 L011500 Y
070 L021500 Y
070 M011500 Y
070 M021500 Y
070 N011500 N
070 N021500 N
070 O011500 Y
070 O021500 N
070 P011500 N
070 P021500 N
070 Q011500 N
070 Q021500 N
070 R011500 N
070 R021500 N
071 A001500 13228
071 B001500 17579
071 C001500 84090
071 D001500 21
072 A001500 12
072 B001500 276
072 C001500 83
072 D001500 0
072 E001500 -7
072 F001500 47
072 G001500 6
072 H001500 0
072 I001500 11
072 J001500 17
072 K001500 0
072 L001500 7
072 M001500 1
072 N001500 8
072 O001500 0
072 P001500 0
072 Q001500 9
072 R001500 22
072 S001500 0
072 T001500 0
072 U001500 1
072 V001500 0
072 W001500 -65
072 X001500 64
072 Y001500 0
072 Z001500 288
072AA001500 476
072BB001500 0
072CC011500 95
072CC021500 0
072DD011500 153
072DD021500 0
<PAGE> PAGE 60
072EE001500 491
073 A011500 0.1715
073 A021500 0.0000
073 B001500 0.6082
073 C001500 0.0000
074 A001500 0
074 B001500 0
074 C001500 0
074 D001500 2702
074 E001500 0
074 F001500 3544
074 G001500 0
074 H001500 0
074 I001500 1228
074 J001500 0
074 K001500 0
074 L001500 0
074 M001500 310
074 N001500 7784
074 O001500 532
074 P001500 146
074 Q001500 0
074 R011500 0
074 R021500 0
074 R031500 0
074 R041500 28
074 S001500 0
074 T001500 7078
074 U011500 653
074 U021500 0
074 V011500 10.84
074 V021500 0.00
074 W001500 0.0000
074 X001500 61
074 Y001500 50
075 A001500 0
075 B001500 9250
076 001500 0.00
008 A001601 PAYDEN & RYGEL
008 B001601 A
008 C001601 801-19762
008 D011601 LOS ANGELES
008 D021601 CA
008 D031601 90071
008 A001602 SCOTTISH WIDOWS INVESTMENT MANAGEMENT LIMITED
008 B001602 S
008 C001602 801-33075
008 D011602 EDINBURGH
008 D051602 SCOTLAND, U.K.
008 D061602 EH165BU
008 A001603 METZLER/PAYDEN LLC
<PAGE> PAGE 61
008 B001603 S
008 C001603 801-55721
008 D011603 LOS ANGELES
008 D021603 CA
008 D031603 90071
028 A011600 683
028 A021600 0
028 A031600 0
028 A041600 5
028 B011600 1053
028 B021600 61
028 B031600 0
028 B041600 1
028 C011600 677
028 C021600 0
028 C031600 0
028 C041600 13
028 D011600 431
028 D021600 0
028 D031600 0
028 D041600 4067
028 E011600 472
028 E021600 37
028 E031600 0
028 E041600 83
028 F011600 136
028 F021600 0
028 F031600 0
028 F041600 272
028 G011600 3452
028 G021600 98
028 G031600 0
028 G041600 4441
028 H001600 0
045 001600 Y
046 001600 Y
047 001600 Y
048 001600 0.000
048 A011600 1000000
048 A021600 0.600
048 B011600 0
048 B021600 0.000
048 C011600 0
048 C021600 0.000
048 D011600 0
048 D021600 0.000
048 E011600 0
048 E021600 0.000
048 F011600 0
048 F021600 0.000
048 G011600 0
<PAGE> PAGE 62
048 G021600 0.000
048 H011600 0
048 H021600 0.000
048 I011600 0
048 I021600 0.000
048 J011600 0
048 J021600 0.000
048 K011600 1000000
048 K021600 0.450
049 001600 N
050 001600 N
051 001600 N
052 001600 N
053 A001600 N
055 A001600 N
055 B001600 N
056 001600 Y
057 001600 N
058 A001600 N
059 001600 Y
060 A001600 Y
060 B001600 Y
061 001600 2000
062 A001600 N
062 B001600 0.0
062 C001600 0.0
062 D001600 0.0
062 E001600 0.0
062 F001600 0.0
062 G001600 0.0
062 H001600 0.0
062 I001600 0.0
062 J001600 0.0
062 K001600 0.0
062 L001600 0.0
062 M001600 0.0
062 N001600 0.0
062 O001600 0.0
062 P001600 0.0
062 Q001600 0.0
062 R001600 0.0
063 A001600 0
063 B001600 0.0
066 A001600 Y
066 D001600 Y
067 001600 N
068 A001600 N
068 B001600 Y
069 001600 N
070 A011600 Y
070 A021600 N
<PAGE> PAGE 63
070 B011600 Y
070 B021600 N
070 C011600 N
070 C021600 N
070 D011600 Y
070 D021600 N
070 E011600 N
070 E021600 N
070 F011600 Y
070 F021600 Y
070 G011600 Y
070 G021600 N
070 H011600 Y
070 H021600 N
070 I011600 Y
070 I021600 N
070 J011600 Y
070 J021600 N
070 K011600 Y
070 K021600 Y
070 L011600 Y
070 L021600 Y
070 M011600 Y
070 M021600 Y
070 N011600 N
070 N021600 N
070 O011600 Y
070 O021600 N
070 P011600 N
070 P021600 N
070 Q011600 N
070 Q021600 N
070 R011600 N
070 R021600 N
071 A001600 32475
071 B001600 32025
071 C001600 17655
071 D001600 181
072 A001600 12
072 B001600 132
072 C001600 372
072 D001600 0
072 E001600 -41
072 F001600 118
072 G001600 12
072 H001600 0
072 I001600 13
072 J001600 28
072 K001600 0
072 L001600 3
072 M001600 2
<PAGE> PAGE 64
072 N001600 10
072 O001600 0
072 P001600 0
072 Q001600 12
072 R001600 22
072 S001600 0
072 T001600 0
072 U001600 1
072 V001600 0
072 W001600 -46
072 X001600 175
072 Y001600 0
072 Z001600 288
072AA001600 0
072BB001600 1121
072CC011600 673
072CC021600 0
072DD011600 120
072DD021600 0
072EE001600 0
073 A011600 0.0650
073 A021600 0.0000
073 B001600 0.0000
073 C001600 0.0000
074 A001600 0
074 B001600 0
074 C001600 2984
074 D001600 0
074 E001600 0
074 F001600 13600
074 G001600 0
074 H001600 0
074 I001600 2503
074 J001600 0
074 K001600 0
074 L001600 0
074 M001600 561
074 N001600 19648
074 O001600 1190
074 P001600 104
074 Q001600 0
074 R011600 0
074 R021600 0
074 R031600 0
074 R041600 31
074 S001600 0
074 T001600 18323
074 U011600 1702
074 U021600 0
074 V011600 10.77
074 V021600 0.00
<PAGE> PAGE 65
074 W001600 0.0000
074 X001600 94
074 Y001600 2650
075 A001600 0
075 B001600 19166
076 001600 0.00
008 A001701 PAYDEN & RYGEL
008 B001701 A
008 C001701 801-19762
008 D011701 LOS ANGELES
008 D021701 CA
008 D031701 90071
008 A001702 SCOTTISH WIDOWS INVESTMENT MANAGEMENT LIMITED
008 B001702 S
008 C001702 801-33075
008 D011702 EDINBURGH
008 D051702 SCOTLAND, U.K.
008 D061702 EH165BU
008 A001703 METZLER/PAYDEN LLC
008 B001703 S
008 C001703 801-55721
008 D011703 LOS ANGELES
008 D021703 CA
008 D031703 90071
028 A011700 4158
028 A021700 0
028 A031700 0
028 A041700 202
028 B011700 5017
028 B021700 108
028 B031700 0
028 B041700 33
028 C011700 4106
028 C021700 0
028 C031700 0
028 C041700 1155
028 D011700 6757
028 D021700 0
028 D031700 0
028 D041700 1061
028 E011700 1255
028 E021700 423
028 E031700 0
028 E041700 1127
028 F011700 1770
028 F021700 0
028 F031700 0
028 F041700 3266
028 G011700 23063
028 G021700 531
028 G031700 0
<PAGE> PAGE 66
028 G041700 6844
028 H001700 0
045 001700 Y
046 001700 Y
047 001700 Y
048 001700 0.000
048 A011700 2000000
048 A021700 0.500
048 B011700 0
048 B021700 0.000
048 C011700 0
048 C021700 0.000
048 D011700 0
048 D021700 0.000
048 E011700 0
048 E021700 0.000
048 F011700 0
048 F021700 0.000
048 G011700 0
048 G021700 0.000
048 H011700 0
048 H021700 0.000
048 I011700 0
048 I021700 0.000
048 J011700 0
048 J021700 0.000
048 K011700 2000000
048 K021700 0.400
049 001700 N
050 001700 N
051 001700 N
052 001700 N
053 A001700 N
055 A001700 N
055 B001700 N
056 001700 Y
057 001700 N
058 A001700 N
059 001700 Y
060 A001700 N
060 B001700 N
061 001700 2000
062 A001700 N
062 B001700 0.0
062 C001700 0.0
062 D001700 0.0
062 E001700 0.0
062 F001700 0.0
062 G001700 0.0
062 H001700 0.0
062 I001700 0.0
<PAGE> PAGE 67
062 J001700 0.0
062 K001700 0.0
062 L001700 0.0
062 M001700 0.0
062 N001700 0.0
062 O001700 0.0
062 P001700 0.0
062 Q001700 0.0
062 R001700 0.0
063 A001700 0
063 B001700 0.0
066 A001700 Y
066 E001700 Y
067 001700 N
068 A001700 N
068 B001700 Y
069 001700 N
070 A011700 Y
070 A021700 N
070 B011700 Y
070 B021700 N
070 C011700 N
070 C021700 N
070 D011700 Y
070 D021700 N
070 E011700 N
070 E021700 N
070 F011700 Y
070 F021700 Y
070 G011700 Y
070 G021700 N
070 H011700 Y
070 H021700 N
070 I011700 N
070 I021700 N
070 J011700 Y
070 J021700 N
070 K011700 Y
070 K021700 Y
070 L011700 Y
070 L021700 Y
070 M011700 Y
070 M021700 Y
070 N011700 N
070 N021700 N
070 O011700 Y
070 O021700 N
070 P011700 N
070 P021700 N
070 Q011700 N
070 Q021700 N
<PAGE> PAGE 68
070 R011700 N
070 R021700 N
071 A001700 34956
071 B001700 8992
071 C001700 26092
071 D001700 34
072 A001700 12
072 B001700 70
072 C001700 959
072 D001700 0
072 E001700 -85
072 F001700 136
072 G001700 16
072 H001700 0
072 I001700 35
072 J001700 61
072 K001700 0
072 L001700 4
072 M001700 3
072 N001700 16
072 O001700 0
072 P001700 0
072 Q001700 16
072 R001700 24
072 S001700 4
072 T001700 0
072 U001700 2
072 V001700 0
072 W001700 -128
072 X001700 189
072 Y001700 0
072 Z001700 755
072AA001700 1130
072BB001700 0
072CC011700 0
072CC021700 2048
072DD011700 571
072DD021700 0
072EE001700 31
073 A011700 0.1777
073 A021700 0.1612
073 B001700 0.0000
073 C001700 0.0000
074 A001700 0
074 B001700 0
074 C001700 0
074 D001700 0
074 E001700 0
074 F001700 38185
074 G001700 0
074 H001700 0
<PAGE> PAGE 69
074 I001700 1207
074 J001700 0
074 K001700 0
074 L001700 0
074 M001700 372
074 N001700 39764
074 O001700 5
074 P001700 175
074 Q001700 0
074 R011700 0
074 R021700 0
074 R031700 0
074 R041700 55
074 S001700 0
074 T001700 39529
074 U011700 3448
074 U021700 0
074 V011700 11.46
074 V021700 0.00
074 W001700 0.0000
074 X001700 1203
074 Y001700 0
075 A001700 0
075 B001700 26961
076 001700 0.00
008 A001801 PAYDEN & RYGEL
008 B001801 A
008 C001801 801-19762
008 D011801 LOS ANGELES
008 D021801 CA
008 D031801 90071
028 A011800 414
028 A021800 167
028 A031800 0
028 A041800 2787
028 B011800 16774
028 B021800 -43
028 B031800 0
028 B041800 8287
028 C011800 33459
028 C021800 46
028 C031800 0
028 C041800 31100
028 D011800 1473
028 D021800 85
028 D031800 0
028 D041800 5160
028 E011800 4126
028 E021800 33
028 E031800 0
028 E041800 2718
<PAGE> PAGE 70
028 F011800 11413
028 F021800 34
028 F031800 0
028 F041800 7550
028 G011800 67659
028 G021800 322
028 G031800 0
028 G041800 57602
028 H001800 0
045 001800 Y
046 001800 N
047 001800 Y
048 001800 0.150
048 A011800 0
048 A021800 0.000
048 B011800 0
048 B021800 0.000
048 C011800 0
048 C021800 0.000
048 D011800 0
048 D021800 0.000
048 E011800 0
048 E021800 0.000
048 F011800 0
048 F021800 0.000
048 G011800 0
048 G021800 0.000
048 H011800 0
048 H021800 0.000
048 I011800 0
048 I021800 0.000
048 J011800 0
048 J021800 0.000
048 K011800 0
048 K021800 0.000
049 001800 N
050 001800 N
051 001800 N
052 001800 N
053 A001800 N
055 A001800 N
055 B001800 N
056 001800 Y
057 001800 N
058 A001800 N
059 001800 Y
060 A001800 Y
060 B001800 Y
061 001800 2000
062 A001800 Y
062 B001800 0.0
<PAGE> PAGE 71
062 C001800 28.4
062 D001800 0.0
062 E001800 0.0
062 F001800 2.8
062 G001800 3.8
062 H001800 0.0
062 I001800 52.8
062 J001800 0.0
062 K001800 0.0
062 L001800 12.3
062 M001800 0.0
062 N001800 0.0
062 O001800 0.0
062 P001800 0.0
062 Q001800 0.0
062 R001800 0.0
063 A001800 66
063 B001800 0.0
066 A001800 N
067 001800 N
068 A001800 N
068 B001800 N
069 001800 N
070 A011800 Y
070 A021800 N
070 B011800 N
070 B021800 N
070 C011800 N
070 C021800 N
070 D011800 N
070 D021800 N
070 E011800 N
070 E021800 N
070 F011800 N
070 F021800 N
070 G011800 N
070 G021800 N
070 H011800 N
070 H021800 N
070 I011800 N
070 I021800 N
070 J011800 Y
070 J021800 N
070 K011800 Y
070 K021800 Y
070 L011800 N
070 L021800 Y
070 M011800 N
070 M021800 N
070 N011800 N
070 N021800 N
<PAGE> PAGE 72
070 O011800 N
070 O021800 N
070 P011800 N
070 P021800 N
070 Q011800 N
070 Q021800 N
070 R011800 N
070 R021800 N
071 A001800 0
071 B001800 0
071 C001800 0
071 D001800 0
072 A001800 11
072 B001800 925
072 C001800 0
072 D001800 0
072 E001800 0
072 F001800 25
072 G001800 10
072 H001800 0
072 I001800 16
072 J001800 5
072 K001800 0
072 L001800 2
072 M001800 1
072 N001800 31
072 O001800 0
072 P001800 0
072 Q001800 11
072 R001800 16
072 S001800 0
072 T001800 0
072 U001800 0
072 V001800 0
072 W001800 -69
072 X001800 48
072 Y001800 0
072 Z001800 877
072AA001800 0
072BB001800 0
072CC011800 0
072CC021800 0
072DD011800 877
072DD021800 0
072EE001800 0
073 A011800 0.0196
073 A021800 0.0000
073 B001800 0.0500
073 C001800 0.0000
074 A001800 0
074 B001800 0
<PAGE> PAGE 73
074 C001800 26502
074 D001800 0
074 E001800 0
074 F001800 0
074 G001800 0
074 H001800 0
074 I001800 0
074 J001800 0
074 K001800 0
074 L001800 0
074 M001800 311
074 N001800 26813
074 O001800 149
074 P001800 71
074 Q001800 0
074 R011800 0
074 R021800 0
074 R031800 0
074 R041800 138
074 S001800 0
074 T001800 26455
074 U011800 26455
074 U021800 0
074 V011800 1.00
074 V021800 0.00
074 W001800 1.0000
074 X001800 221
074 Y001800 0
075 A001800 17750
075 B001800 0
076 001800 0.00
008 A001901 PAYDEN & RYGEL
008 B001901 A
008 C001901 801-19762
008 D011901 LOS ANGELES
008 D021901 CA
008 D031901 90071
028 A011900 5411
028 A021900 0
028 A031900 0
028 A041900 1
028 B011900 1059
028 B021900 77
028 B031900 0
028 B041900 4
028 C011900 671
028 C021900 0
028 C031900 0
028 C041900 21
028 D011900 1049
028 D021900 0
<PAGE> PAGE 74
028 D031900 0
028 D041900 452
028 E011900 1347
028 E021900 0
028 E031900 0
028 E041900 72
028 F011900 94
028 F021900 0
028 F031900 0
028 F041900 47
028 G011900 9631
028 G021900 77
028 G031900 0
028 G041900 597
028 H001900 0
045 001900 Y
046 001900 N
047 001900 Y
048 001900 0.000
048 A011900 1000000
048 A021900 0.600
048 B011900 0
048 B021900 0.000
048 C011900 0
048 C021900 0.000
048 D011900 0
048 D021900 0.000
048 E011900 0
048 E021900 0.000
048 F011900 0
048 F021900 0.000
048 G011900 0
048 G021900 0.000
048 H011900 0
048 H021900 0.000
048 I011900 0
048 I021900 0.000
048 J011900 0
048 J021900 0.000
048 K011900 1000000
048 K021900 0.500
049 001900 N
050 001900 N
051 001900 N
052 001900 N
053 A001900 Y
053 B001900 Y
055 A001900 N
055 B001900 N
056 001900 Y
057 001900 N
<PAGE> PAGE 75
058 A001900 N
059 001900 Y
060 A001900 N
060 B001900 N
061 001900 2000
062 A001900 N
062 B001900 0.0
062 C001900 0.0
062 D001900 0.0
062 E001900 0.0
062 F001900 0.0
062 G001900 0.0
062 H001900 0.0
062 I001900 0.0
062 J001900 0.0
062 K001900 0.0
062 L001900 0.0
062 M001900 0.0
062 N001900 0.0
062 O001900 0.0
062 P001900 0.0
062 Q001900 0.0
062 R001900 0.0
063 A001900 0
063 B001900 0.0
066 A001900 Y
066 C001900 Y
067 001900 N
068 A001900 N
068 B001900 N
069 001900 N
070 A011900 Y
070 A021900 N
070 B011900 Y
070 B021900 N
070 C011900 N
070 C021900 N
070 D011900 Y
070 D021900 Y
070 E011900 N
070 E021900 N
070 F011900 Y
070 F021900 Y
070 G011900 Y
070 G021900 N
070 H011900 Y
070 H021900 N
070 I011900 N
070 I021900 N
070 J011900 Y
070 J021900 N
<PAGE> PAGE 76
070 K011900 Y
070 K021900 Y
070 L011900 Y
070 L021900 N
070 M011900 N
070 M021900 N
070 N011900 N
070 N021900 N
070 O011900 Y
070 O021900 N
070 P011900 N
070 P021900 N
070 Q011900 N
070 Q021900 N
070 R011900 N
070 R021900 N
071 A001900 55491
071 B001900 45068
071 C001900 35772
071 D001900 126
072 A001900 11
072 B001900 147
072 C001900 135
072 D001900 0
072 E001900 0
072 F001900 85
072 G001900 9
072 H001900 0
072 I001900 12
072 J001900 11
072 K001900 0
072 L001900 2
072 M001900 1
072 N001900 25
072 O001900 0
072 P001900 0
072 Q001900 9
072 R001900 16
072 S001900 1
072 T001900 0
072 U001900 2
072 V001900 0
072 W001900 -61
072 X001900 112
072 Y001900 0
072 Z001900 170
072AA001900 0
072BB001900 3314
072CC011900 0
072CC021900 2192
072DD011900 97
<PAGE> PAGE 77
072DD021900 0
072EE001900 0
073 A011900 0.0427
073 A021900 0.0000
073 B001900 0.0000
073 C001900 0.0000
074 A001900 0
074 B001900 0
074 C001900 0
074 D001900 0
074 E001900 0
074 F001900 17509
074 G001900 0
074 H001900 0
074 I001900 6033
074 J001900 0
074 K001900 0
074 L001900 0
074 M001900 77
074 N001900 23619
074 O001900 5
074 P001900 34
074 Q001900 0
074 R011900 0
074 R021900 0
074 R031900 0
074 R041900 36
074 S001900 0
074 T001900 23544
074 U011900 2537
074 U021900 0
074 V011900 9.28
074 V021900 0.00
074 W001900 0.0000
074 X001900 190
074 Y001900 3899
075 A001900 0
075 B001900 16477
076 001900 0.00
008 A002001 PAYDEN & RYGEL
008 B002001 A
008 C002001 801-19762
008 D012001 LOS ANGELES
008 D022001 CA
008 D032001 90071
028 A012000 17
028 A022000 0
028 A032000 0
028 A042000 0
028 B012000 14
028 B022000 8
<PAGE> PAGE 78
028 B032000 0
028 B042000 4
028 C012000 6
028 C022000 0
028 C032000 0
028 C042000 8
028 D012000 10
028 D022000 0
028 D032000 0
028 D042000 20
028 E012000 26
028 E022000 0
028 E032000 0
028 E042000 433
028 F012000 23
028 F022000 0
028 F032000 0
028 F042000 184
028 G012000 96
028 G022000 8
028 G032000 0
028 G042000 649
028 H002000 0
045 002000 Y
046 002000 N
047 002000 Y
048 002000 0.000
048 A012000 1000000
048 A022000 0.600
048 B012000 0
048 B022000 0.000
048 C012000 0
048 C022000 0.000
048 D012000 0
048 D022000 0.000
048 E012000 0
048 E022000 0.000
048 F012000 0
048 F022000 0.000
048 G012000 0
048 G022000 0.000
048 H012000 0
048 H022000 0.000
048 I012000 0
048 I022000 0.000
048 J012000 0
048 J022000 0.000
048 K012000 1000000
048 K022000 0.500
049 002000 N
050 002000 N
<PAGE> PAGE 79
051 002000 N
052 002000 N
053 A002000 Y
053 B002000 Y
055 A002000 N
055 B002000 N
056 002000 Y
057 002000 N
058 A002000 N
059 002000 Y
060 A002000 N
060 B002000 N
061 002000 2000
062 A002000 N
062 B002000 0.0
062 C002000 0.0
062 D002000 0.0
062 E002000 0.0
062 F002000 0.0
062 G002000 0.0
062 H002000 0.0
062 I002000 0.0
062 J002000 0.0
062 K002000 0.0
062 L002000 0.0
062 M002000 0.0
062 N002000 0.0
062 O002000 0.0
062 P002000 0.0
062 Q002000 0.0
062 R002000 0.0
063 A002000 0
063 B002000 0.0
066 A002000 Y
066 D002000 Y
067 002000 N
068 A002000 N
068 B002000 N
069 002000 N
070 A012000 Y
070 A022000 N
070 B012000 Y
070 B022000 N
070 C012000 N
070 C022000 N
070 D012000 Y
070 D022000 Y
070 E012000 N
070 E022000 N
070 F012000 Y
070 F022000 Y
<PAGE> PAGE 80
070 G012000 Y
070 G022000 N
070 H012000 N
070 H022000 N
070 I012000 Y
070 I022000 N
070 J012000 Y
070 J022000 N
070 K012000 Y
070 K022000 Y
070 L012000 Y
070 L022000 N
070 M012000 N
070 M022000 N
070 N012000 N
070 N022000 N
070 O012000 Y
070 O022000 N
070 P012000 N
070 P022000 N
070 Q012000 N
070 Q022000 N
070 R012000 N
070 R022000 N
071 A002000 7055
071 B002000 4421
071 C002000 2841
071 D002000 186
072 A002000 11
072 B002000 7
072 C002000 22
072 D002000 0
072 E002000 0
072 F002000 15
072 G002000 2
072 H002000 0
072 I002000 9
072 J002000 6
072 K002000 0
072 L002000 0
072 M002000 0
072 N002000 17
072 O002000 0
072 P002000 0
072 Q002000 6
072 R002000 16
072 S002000 0
072 T002000 0
072 U002000 2
072 V002000 0
072 W002000 -53
<PAGE> PAGE 81
072 X002000 20
072 Y002000 0
072 Z002000 10
072AA002000 0
072BB002000 156
072CC012000 0
072CC022000 226
072DD012000 9
072DD022000 0
072EE002000 0
073 A012000 0.0282
073 A022000 0.0000
073 B002000 0.0000
073 C002000 0.0000
074 A002000 0
074 B002000 0
074 C002000 0
074 D002000 0
074 E002000 0
074 F002000 2273
074 G002000 0
074 H002000 0
074 I002000 125
074 J002000 0
074 K002000 0
074 L002000 0
074 M002000 51
074 N002000 2449
074 O002000 1
074 P002000 42
074 Q002000 0
074 R012000 0
074 R022000 0
074 R032000 0
074 R042000 22
074 S002000 0
074 T002000 2384
074 U012000 262
074 U022000 0
074 V012000 9.11
074 V022000 0.00
074 W002000 0.0000
074 X002000 37
074 Y002000 0
075 A002000 0
075 B002000 2943
076 002000 0.00
008 A002101 PAYDEN & RYGEL
008 B002101 A
008 C002101 801-19762
008 D012101 LOS ANGELES
<PAGE> PAGE 82
008 D022101 CA
008 D032101 90071
028 A012100 1579
028 A022100 0
028 A032100 0
028 A042100 0
028 B012100 17460
028 B022100 607
028 B032100 0
028 B042100 16
028 C012100 4236
028 C022100 0
028 C032100 0
028 C042100 0
028 D012100 36129
028 D022100 0
028 D032100 0
028 D042100 830
028 E012100 1570
028 E022100 1460
028 E032100 0
028 E042100 0
028 F012100 246
028 F022100 0
028 F032100 0
028 F042100 13014
028 G012100 61220
028 G022100 2067
028 G032100 0
028 G042100 13860
028 H002100 0
045 002100 Y
046 002100 N
047 002100 Y
048 002100 0.350
048 A012100 0
048 A022100 0.000
048 B012100 0
048 B022100 0.000
048 C012100 0
048 C022100 0.000
048 D012100 0
048 D022100 0.000
048 E012100 0
048 E022100 0.000
048 F012100 0
048 F022100 0.000
048 G012100 0
048 G022100 0.000
048 H012100 0
048 H022100 0.000
<PAGE> PAGE 83
048 I012100 0
048 I022100 0.000
048 J012100 0
048 J022100 0.000
048 K012100 0
048 K022100 0.000
049 002100 N
050 002100 N
051 002100 N
052 002100 N
053 A002100 Y
053 B002100 Y
055 A002100 N
055 B002100 N
056 002100 Y
057 002100 N
058 A002100 N
059 002100 Y
060 A002100 Y
060 B002100 Y
061 002100 2000
062 A002100 Y
062 B002100 0.0
062 C002100 0.0
062 D002100 0.0
062 E002100 0.0
062 F002100 0.0
062 G002100 0.0
062 H002100 0.0
062 I002100 4.9
062 J002100 0.0
062 K002100 0.0
062 L002100 5.2
062 M002100 0.0
062 N002100 0.0
062 O002100 0.0
062 P002100 82.4
062 Q002100 5.3
062 R002100 0.0
063 A002100 0
063 B002100 7.0
064 A002100 N
064 B002100 N
066 A002100 Y
066 F002100 Y
067 002100 N
068 A002100 N
068 B002100 N
069 002100 N
070 A012100 Y
070 A022100 N
<PAGE> PAGE 84
070 B012100 N
070 B022100 N
070 C012100 Y
070 C022100 N
070 D012100 N
070 D022100 N
070 E012100 Y
070 E022100 Y
070 F012100 N
070 F022100 N
070 G012100 Y
070 G022100 N
070 H012100 N
070 H022100 N
070 I012100 N
070 I022100 N
070 J012100 Y
070 J022100 N
070 K012100 Y
070 K022100 Y
070 L012100 Y
070 L022100 Y
070 M012100 Y
070 M022100 N
070 N012100 N
070 N022100 N
070 O012100 Y
070 O022100 N
070 P012100 N
070 P022100 N
070 Q012100 N
070 Q022100 N
070 R012100 N
070 R022100 N
071 A002100 137651
071 B002100 50937
071 C002100 45240
071 D002100 113
072 A002100 11
072 B002100 3735
072 C002100 0
072 D002100 0
072 E002100 0
072 F002100 157
072 G002100 27
072 H002100 0
072 I002100 14
072 J002100 7
072 K002100 0
072 L002100 7
072 M002100 6
<PAGE> PAGE 85
072 N002100 66
072 O002100 0
072 P002100 0
072 Q002100 19
072 R002100 16
072 S002100 1
072 T002100 0
072 U002100 0
072 V002100 0
072 W002100 -77
072 X002100 243
072 Y002100 0
072 Z002100 3492
072AA002100 0
072BB002100 1067
072CC012100 0
072CC022100 4898
072DD012100 2506
072DD022100 0
072EE002100 0
073 A012100 0.3643
073 A022100 0.0000
073 B002100 0.0000
073 C002100 0.0000
074 A002100 0
074 B002100 0
074 C002100 0
074 D002100 75603
074 E002100 1967
074 F002100 0
074 G002100 0
074 H002100 0
074 I002100 12203
074 J002100 0
074 K002100 0
074 L002100 0
074 M002100 2020
074 N002100 91793
074 O002100 0
074 P002100 48
074 Q002100 0
074 R012100 0
074 R022100 0
074 R032100 0
074 R042100 76
074 S002100 0
074 T002100 91669
074 U012100 9382
074 U022100 0
074 V012100 9.77
074 V022100 0.00
<PAGE> PAGE 86
074 W002100 0.0000
074 X002100 87
074 Y002100 0
075 A002100 0
075 B002100 53877
076 002100 0.00
072 Y003400 0
072 Z003400 0
072AA003400 0
072BB003400 0
072CC013400 0
072CC023400 0
072DD013400 0
072DD023400 0
072EE003400 0
073 A013400 0.0000
073 A023400 0.0000
073 B003400 0.0000
073 C003400 0.0000
SIGNATURE BRADLEY F. HERSH
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 1
<NAME> PAYDEN & RYGEL GLOBAL FIXED INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 548550
<INVESTMENTS-AT-VALUE> 568844
<RECEIVABLES> 31534
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 82
<TOTAL-ASSETS> 600460
<PAYABLE-FOR-SECURITIES> 75603
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 207
<TOTAL-LIABILITIES> 75810
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 490586
<SHARES-COMMON-STOCK> 48100
<SHARES-COMMON-PRIOR> 52744
<ACCUMULATED-NII-CURRENT> 5415
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 16164
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12485
<NET-ASSETS> 524650
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 29186
<OTHER-INCOME> 0
<EXPENSES-NET> 2550
<NET-INVESTMENT-INCOME> 26636
<REALIZED-GAINS-CURRENT> 20449
<APPREC-INCREASE-CURRENT> 11222
<NET-CHANGE-FROM-OPS> 58307
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 20851
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20993
<NUMBER-OF-SHARES-REDEEMED> 27273
<SHARES-REINVESTED> 1636
<NET-CHANGE-IN-ASSETS> (10995)
<ACCUMULATED-NII-PRIOR> 299
<ACCUMULATED-GAINS-PRIOR> (4954)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1558
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2550
<AVERAGE-NET-ASSETS> 516776
<PER-SHARE-NAV-BEGIN> 10.16
<PER-SHARE-NII> 0.45
<PER-SHARE-GAIN-APPREC> 0.72
<PER-SHARE-DIVIDEND> 0.42
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.91
<EXPENSE-RATIO> 0.49
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 2
<NAME> PAYDEN & RYGEL TAX EXEMPT BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 64057
<INVESTMENTS-AT-VALUE> 66885
<RECEIVABLES> 1021
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 400
<TOTAL-ASSETS> 68306
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 417
<TOTAL-LIABILITIES> 417
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66322
<SHARES-COMMON-STOCK> 6844
<SHARES-COMMON-PRIOR> 5932
<ACCUMULATED-NII-CURRENT> 52
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1312)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2827
<NET-ASSETS> 67889
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3006
<OTHER-INCOME> 0
<EXPENSES-NET> 320
<NET-INVESTMENT-INCOME> 2686
<REALIZED-GAINS-CURRENT> (15)
<APPREC-INCREASE-CURRENT> 1200
<NET-CHANGE-FROM-OPS> 3871
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2639
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2944
<NUMBER-OF-SHARES-REDEEMED> 2256
<SHARES-REINVESTED> 225
<NET-CHANGE-IN-ASSETS> 10310
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> (1297)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 211
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 374
<AVERAGE-NET-ASSETS> 65530
<PER-SHARE-NAV-BEGIN> 9.71
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> 0.20
<PER-SHARE-DIVIDEND> 0.39
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.92
<EXPENSE-RATIO> 0.49
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> SBF98.FDS
<SERIES>
<NUMBER> 3
<NAME> PAYDEN & RYGEL SHORT BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 116161
<INVESTMENTS-AT-VALUE> 117071
<RECEIVABLES> 11554
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 876
<TOTAL-ASSETS> 129501
<PAYABLE-FOR-SECURITIES> 20316
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 524
<TOTAL-LIABILITIES> 20840
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 108294
<SHARES-COMMON-STOCK> 10928
<SHARES-COMMON-PRIOR> 9500
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 3
<ACCUMULATED-NET-GAINS> (419)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 783
<NET-ASSETS> 108661
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6468
<OTHER-INCOME> 0
<EXPENSES-NET> 307
<NET-INVESTMENT-INCOME> 6161
<REALIZED-GAINS-CURRENT> (180)
<APPREC-INCREASE-CURRENT> 588
<NET-CHANGE-FROM-OPS> 6569
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6063
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 28695
<NUMBER-OF-SHARES-REDEEMED> 27778
<SHARES-REINVESTED> 511
<NET-CHANGE-IN-ASSETS> 14405
<ACCUMULATED-NII-PRIOR> 22
<ACCUMULATED-GAINS-PRIOR> (355)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 286
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 470
<AVERAGE-NET-ASSETS> 97172
<PER-SHARE-NAV-BEGIN> 9.92
<PER-SHARE-NII> 0.63
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> 0.63
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.94
<EXPENSE-RATIO> 0.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 4
<NAME> PAYDEN & RYGEL INTERMEDIATE BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 104528
<INVESTMENTS-AT-VALUE> 105973
<RECEIVABLES> 4539
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 309
<TOTAL-ASSETS> 110821
<PAYABLE-FOR-SECURITIES> 21638
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 311
<TOTAL-LIABILITIES> 21949
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 86050
<SHARES-COMMON-STOCK> 9072
<SHARES-COMMON-PRIOR> 8315
<ACCUMULATED-NII-CURRENT> 140
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1077
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1605
<NET-ASSETS> 88872
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6677
<OTHER-INCOME> 0
<EXPENSES-NET> 404
<NET-INVESTMENT-INCOME> 6272
<REALIZED-GAINS-CURRENT> 1103
<APPREC-INCREASE-CURRENT> 360
<NET-CHANGE-FROM-OPS> 7735
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6160
<DISTRIBUTIONS-OF-GAINS> 492
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6467
<NUMBER-OF-SHARES-REDEEMED> 6404
<SHARES-REINVESTED> 694
<NET-CHANGE-IN-ASSETS> 8107
<ACCUMULATED-NII-PRIOR> 16
<ACCUMULATED-GAINS-PRIOR> 477
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 287
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 461
<AVERAGE-NET-ASSETS> 106152
<PER-SHARE-NAV-BEGIN> 9.71
<PER-SHARE-NII> 0.60
<PER-SHARE-GAIN-APPREC> 0.12
<PER-SHARE-DIVIDEND> 0.58
<PER-SHARE-DISTRIBUTIONS> 0.05
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.80
<EXPENSE-RATIO> 0.39
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 5
<NAME> PAYDEN & RYGEL INVESTMENT QUALITY BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 229134
<INVESTMENTS-AT-VALUE> 231776
<RECEIVABLES> 2865
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 468
<TOTAL-ASSETS> 235109
<PAYABLE-FOR-SECURITIES> 60627
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 508
<TOTAL-LIABILITIES> 61135
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 169151
<SHARES-COMMON-STOCK> 17111
<SHARES-COMMON-PRIOR> 9489
<ACCUMULATED-NII-CURRENT> 203
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2084
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2536
<NET-ASSETS> 173974
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9512
<OTHER-INCOME> 0
<EXPENSES-NET> 642
<NET-INVESTMENT-INCOME> 8871
<REALIZED-GAINS-CURRENT> 2080
<APPREC-INCREASE-CURRENT> 1196
<NET-CHANGE-FROM-OPS> 12147
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8682
<DISTRIBUTIONS-OF-GAINS> 525
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10959
<NUMBER-OF-SHARES-REDEEMED> 4196
<SHARES-REINVESTED> 859
<NET-CHANGE-IN-ASSETS> 78987
<ACCUMULATED-NII-PRIOR> 23
<ACCUMULATED-GAINS-PRIOR> 520
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 405
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 728
<AVERAGE-NET-ASSETS> 144634
<PER-SHARE-NAV-BEGIN> 10.01
<PER-SHARE-NII> 0.60
<PER-SHARE-GAIN-APPREC> 0.20
<PER-SHARE-DIVIDEND> 0.59
<PER-SHARE-DISTRIBUTIONS> 0.05
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.17
<EXPENSE-RATIO> 0.44
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 6
<NAME> PAYDEN & RYGEL LIMITED MATURITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 115841
<INVESTMENTS-AT-VALUE> 116204
<RECEIVABLES> 828
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 784
<TOTAL-ASSETS> 117816
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 774
<TOTAL-LIABILITIES> 774
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 116704
<SHARES-COMMON-STOCK> 11608
<SHARES-COMMON-PRIOR> 15154
<ACCUMULATED-NII-CURRENT> 138
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (164)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 364
<NET-ASSETS> 117042
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8473
<OTHER-INCOME> 0
<EXPENSES-NET> 425
<NET-INVESTMENT-INCOME> 8048
<REALIZED-GAINS-CURRENT> (31)
<APPREC-INCREASE-CURRENT> 192
<NET-CHANGE-FROM-OPS> 8209
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7957
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 20275
<NUMBER-OF-SHARES-REDEEMED> 24550
<SHARES-REINVESTED> 729
<NET-CHANGE-IN-ASSETS> (35387)
<ACCUMULATED-NII-PRIOR> 41
<ACCUMULATED-GAINS-PRIOR> (127)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 404
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 679
<AVERAGE-NET-ASSETS> 143947
<PER-SHARE-NAV-BEGIN> 10.06
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> 0.56
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.08
<EXPENSE-RATIO> 0.29
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 7
<NAME> PAYDEN & RYGEL SHORT DURATION TAX EXEMPT FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 16344
<INVESTMENTS-AT-VALUE> 16550
<RECEIVABLES> 1301
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 308
<TOTAL-ASSETS> 18159
<PAYABLE-FOR-SECURITIES> 1014
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 320
<TOTAL-LIABILITIES> 1334
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 16467
<SHARES-COMMON-STOCK> 1665
<SHARES-COMMON-PRIOR> 3789
<ACCUMULATED-NII-CURRENT> 12
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 140
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 206
<NET-ASSETS> 16825
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1109
<OTHER-INCOME> 0
<EXPENSES-NET> 111
<NET-INVESTMENT-INCOME> 998
<REALIZED-GAINS-CURRENT> 140
<APPREC-INCREASE-CURRENT> (21)
<NET-CHANGE-FROM-OPS> 1117
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 990
<DISTRIBUTIONS-OF-GAINS> 25
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 350
<NUMBER-OF-SHARES-REDEEMED> 2557
<SHARES-REINVESTED> 84
<NET-CHANGE-IN-ASSETS> (21352)
<ACCUMULATED-NII-PRIOR> 3
<ACCUMULATED-GAINS-PRIOR> 25
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 80
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 171
<AVERAGE-NET-ASSETS> 25189
<PER-SHARE-NAV-BEGIN> 10.08
<PER-SHARE-NII> 0.42
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> 0.41
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.11
<EXPENSE-RATIO> 0.44
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 9
<NAME> PAYDEN & RYGEL U.S. GOVERNMENT FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 90645
<INVESTMENTS-AT-VALUE> 91696
<RECEIVABLES> 2
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 879
<TOTAL-ASSETS> 92577
<PAYABLE-FOR-SECURITIES> 20418
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 304
<TOTAL-LIABILITIES> 20722
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 70352
<SHARES-COMMON-STOCK> 6592
<SHARES-COMMON-PRIOR> 1466
<ACCUMULATED-NII-CURRENT> 74
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 403
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1026
<NET-ASSETS> 71855
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3510
<OTHER-INCOME> 0
<EXPENSES-NET> 207
<NET-INVESTMENT-INCOME> 3302
<REALIZED-GAINS-CURRENT> 557
<APPREC-INCREASE-CURRENT> 835
<NET-CHANGE-FROM-OPS> 4694
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3232
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8965
<NUMBER-OF-SHARES-REDEEMED> 4140
<SHARES-REINVESTED> 301
<NET-CHANGE-IN-ASSETS> 56377
<ACCUMULATED-NII-PRIOR> 4
<ACCUMULATED-GAINS-PRIOR> (154)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 172
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 303
<AVERAGE-NET-ASSETS> 58791
<PER-SHARE-NAV-BEGIN> 10.56
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> 0.33
<PER-SHARE-DIVIDEND> 0.55
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.90
<EXPENSE-RATIO> 0.34
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 11
<NAME> PAYDEN & RYGEL MARKET RETURN FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 43094
<INVESTMENTS-AT-VALUE> 42687
<RECEIVABLES> 736
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 269
<TOTAL-ASSETS> 43692
<PAYABLE-FOR-SECURITIES> 3
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 299
<TOTAL-LIABILITIES> 302
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 41243
<SHARES-COMMON-STOCK> 3261
<SHARES-COMMON-PRIOR> 1577
<ACCUMULATED-NII-CURRENT> 57
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1510)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3600
<NET-ASSETS> 43390
<DIVIDEND-INCOME> 13
<INTEREST-INCOME> 2122
<OTHER-INCOME> 0
<EXPENSES-NET> 155
<NET-INVESTMENT-INCOME> 1980
<REALIZED-GAINS-CURRENT> (1974)
<APPREC-INCREASE-CURRENT> 4015
<NET-CHANGE-FROM-OPS> 4021
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1919
<DISTRIBUTIONS-OF-GAINS> 1742
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2185
<NUMBER-OF-SHARES-REDEEMED> 770
<SHARES-REINVESTED> 268
<NET-CHANGE-IN-ASSETS> 23195
<ACCUMULATED-NII-PRIOR> 5
<ACCUMULATED-GAINS-PRIOR> 2197
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 97
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 240
<AVERAGE-NET-ASSETS> 34015
<PER-SHARE-NAV-BEGIN> 12.80
<PER-SHARE-NII> 0.73
<PER-SHARE-GAIN-APPREC> 1.46
<PER-SHARE-DIVIDEND> 0.71
<PER-SHARE-DISTRIBUTIONS> 0.97
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.31
<EXPENSE-RATIO> 0.45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 12
<NAME> PAYDEN & RYGEL GLOBAL SHORT BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 242470
<INVESTMENTS-AT-VALUE> 247429
<RECEIVABLES> 8367
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 381
<TOTAL-ASSETS> 256177
<PAYABLE-FOR-SECURITIES> 4148
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 420
<TOTAL-LIABILITIES> 4568
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 246620
<SHARES-COMMON-STOCK> 24413
<SHARES-COMMON-PRIOR> 21727
<ACCUMULATED-NII-CURRENT> 7098
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4576)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2467
<NET-ASSETS> 251609
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13074
<OTHER-INCOME> 0
<EXPENSES-NET> 1205
<NET-INVESTMENT-INCOME> 11870
<REALIZED-GAINS-CURRENT> 7398
<APPREC-INCREASE-CURRENT> 1272
<NET-CHANGE-FROM-OPS> 20540
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16747
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15741
<NUMBER-OF-SHARES-REDEEMED> 14596
<SHARES-REINVESTED> 1541
<NET-CHANGE-IN-ASSETS> 30744
<ACCUMULATED-NII-PRIOR> 49
<ACCUMULATED-GAINS-PRIOR> (48)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 813
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1382
<AVERAGE-NET-ASSETS> 263759
<PER-SHARE-NAV-BEGIN> 10.17
<PER-SHARE-NII> 0.92
<PER-SHARE-GAIN-APPREC> (0.15)
<PER-SHARE-DIVIDEND> 0.63
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.31
<EXPENSE-RATIO> 0.44
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 13
<NAME> PAYDEN & RYGEL GROWTH & INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 217882
<INVESTMENTS-AT-VALUE> 250392
<RECEIVABLES> 374
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 211
<TOTAL-ASSETS> 250977
<PAYABLE-FOR-SECURITIES> 104
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 320
<TOTAL-LIABILITIES> 424
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 212299
<SHARES-COMMON-STOCK> 17335
<SHARES-COMMON-PRIOR> 11822
<ACCUMULATED-NII-CURRENT> 3
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5742
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 32509
<NET-ASSETS> 250553
<DIVIDEND-INCOME> 4315
<INTEREST-INCOME> 377
<OTHER-INCOME> 0
<EXPENSES-NET> 1205
<NET-INVESTMENT-INCOME> 3487
<REALIZED-GAINS-CURRENT> 5751
<APPREC-INCREASE-CURRENT> 18949
<NET-CHANGE-FROM-OPS> 28187
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3885
<DISTRIBUTIONS-OF-GAINS> 22
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9096
<NUMBER-OF-SHARES-REDEEMED> 3845
<SHARES-REINVESTED> 262
<NET-CHANGE-IN-ASSETS> 99609
<ACCUMULATED-NII-PRIOR> 400
<ACCUMULATED-GAINS-PRIOR> 13
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1120
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1271
<AVERAGE-NET-ASSETS> 219965
<PER-SHARE-NAV-BEGIN> 12.77
<PER-SHARE-NII> 0.21
<PER-SHARE-GAIN-APPREC> 1.71
<PER-SHARE-DIVIDEND> 0.24
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.45
<EXPENSE-RATIO> 0.54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 14
<NAME> PAYDEN & RYGEL TOTAL RETURN FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 224766
<INVESTMENTS-AT-VALUE> 224868
<RECEIVABLES> 2618
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 170
<TOTAL-ASSETS> 227656
<PAYABLE-FOR-SECURITIES> 52784
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 260
<TOTAL-LIABILITIES> 53044
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 173643
<SHARES-COMMON-STOCK> 17065
<SHARES-COMMON-PRIOR> 9642
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (576)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1545
<NET-ASSETS> 174612
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6291
<OTHER-INCOME> 0
<EXPENSES-NET> 429
<NET-INVESTMENT-INCOME> 5863
<REALIZED-GAINS-CURRENT> 1187
<APPREC-INCREASE-CURRENT> 541
<NET-CHANGE-FROM-OPS> 7591
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7580
<DISTRIBUTIONS-OF-GAINS> 762
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11789
<NUMBER-OF-SHARES-REDEEMED> 5096
<SHARES-REINVESTED> 731
<NET-CHANGE-IN-ASSETS> 75749
<ACCUMULATED-NII-PRIOR> 139
<ACCUMULATED-GAINS-PRIOR> 577
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 270
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 504
<AVERAGE-NET-ASSETS> 99639
<PER-SHARE-NAV-BEGIN> 10.25
<PER-SHARE-NII> 0.57
<PER-SHARE-GAIN-APPREC> 0.20
<PER-SHARE-DIVIDEND> 0.71
<PER-SHARE-DISTRIBUTIONS> 0.08
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.23
<EXPENSE-RATIO> 0.44
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 15
<NAME> PAYDEN & RYGEL GLOBAL BALANCED FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 6937
<INVESTMENTS-AT-VALUE> 7474
<RECEIVABLES> 89
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 221
<TOTAL-ASSETS> 7784
<PAYABLE-FOR-SECURITIES> 532
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 174
<TOTAL-LIABILITIES> 706
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6007
<SHARES-COMMON-STOCK> 653
<SHARES-COMMON-PRIOR> 956
<ACCUMULATED-NII-CURRENT> 15
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 566
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 490
<NET-ASSETS> 7078
<DIVIDEND-INCOME> 83
<INTEREST-INCOME> 276
<OTHER-INCOME> (7)
<EXPENSES-NET> 64
<NET-INVESTMENT-INCOME> 288
<REALIZED-GAINS-CURRENT> 476
<APPREC-INCREASE-CURRENT> 95
<NET-CHANGE-FROM-OPS> 859
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 153
<DISTRIBUTIONS-OF-GAINS> 491
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 97
<NUMBER-OF-SHARES-REDEEMED> 461
<SHARES-REINVESTED> 61
<NET-CHANGE-IN-ASSETS> (3235)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 460
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 47
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 133
<AVERAGE-NET-ASSETS> 9250
<PER-SHARE-NAV-BEGIN> 10.79
<PER-SHARE-NII> 0.20
<PER-SHARE-GAIN-APPREC> 0.63
<PER-SHARE-DIVIDEND> 0.17
<PER-SHARE-DISTRIBUTIONS> 0.61
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.84
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 16
<NAME> PAYDEN & RYGEL INTERNATIONAL EQUITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 17937
<INVESTMENTS-AT-VALUE> 19087
<RECEIVABLES> 338
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 223
<TOTAL-ASSETS> 19648
<PAYABLE-FOR-SECURITIES> 1190
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 135
<TOTAL-LIABILITIES> 1325
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 18145
<SHARES-COMMON-STOCK> 1702
<SHARES-COMMON-PRIOR> 1340
<ACCUMULATED-NII-CURRENT> 169
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1122)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1131
<NET-ASSETS> 18323
<DIVIDEND-INCOME> 372
<INTEREST-INCOME> 132
<OTHER-INCOME> (41)
<EXPENSES-NET> 175
<NET-INVESTMENT-INCOME> 288
<REALIZED-GAINS-CURRENT> (1121)
<APPREC-INCREASE-CURRENT> 673
<NET-CHANGE-FROM-OPS> (160)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 120
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1008
<NUMBER-OF-SHARES-REDEEMED> 655
<SHARES-REINVESTED> 9
<NET-CHANGE-IN-ASSETS> 3920
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 118
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 225
<AVERAGE-NET-ASSETS> 19166
<PER-SHARE-NAV-BEGIN> 10.75
<PER-SHARE-NII> 0.16
<PER-SHARE-GAIN-APPREC> (0.07)
<PER-SHARE-DIVIDEND> 0.07
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.77
<EXPENSE-RATIO> 0.89
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 17
<NAME> PAYDEN & RYGEL EUROPEAN GROWTH & INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 41456
<INVESTMENTS-AT-VALUE> 39392
<RECEIVABLES> 185
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 187
<TOTAL-ASSETS> 39764
<PAYABLE-FOR-SECURITIES> 5
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 230
<TOTAL-LIABILITIES> 235
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 40309
<SHARES-COMMON-STOCK> 3448
<SHARES-COMMON-PRIOR> 1335
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1276
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2056)
<NET-ASSETS> 39529
<DIVIDEND-INCOME> 959
<INTEREST-INCOME> 70
<OTHER-INCOME> (85)
<EXPENSES-NET> 189
<NET-INVESTMENT-INCOME> 755
<REALIZED-GAINS-CURRENT> 1130
<APPREC-INCREASE-CURRENT> (2048)
<NET-CHANGE-FROM-OPS> (163)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 571
<DISTRIBUTIONS-OF-GAINS> 31
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2925
<NUMBER-OF-SHARES-REDEEMED> 858
<SHARES-REINVESTED> 46
<NET-CHANGE-IN-ASSETS> 25920
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (7)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 136
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 320
<AVERAGE-NET-ASSETS> 26961
<PER-SHARE-NAV-BEGIN> 10.19
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> 1.28
<PER-SHARE-DIVIDEND> 0.17
<PER-SHARE-DISTRIBUTIONS> 0.01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.46
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 18
<NAME> BUNKER HILL MONEY MARKET FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 11-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> DEC-17-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 26502
<INVESTMENTS-AT-VALUE> 26502
<RECEIVABLES> 234
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 77
<TOTAL-ASSETS> 26813
<PAYABLE-FOR-SECURITIES> 149
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 209
<TOTAL-LIABILITIES> 358
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26455
<SHARES-COMMON-STOCK> 26455
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 26455
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 925
<OTHER-INCOME> 0
<EXPENSES-NET> 48
<NET-INVESTMENT-INCOME> 877
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 877
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 877
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 122840
<NUMBER-OF-SHARES-REDEEMED> 96911
<SHARES-REINVESTED> 526
<NET-CHANGE-IN-ASSETS> 26455
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 25
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 120
<AVERAGE-NET-ASSETS> 17750
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.29
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 19
<NAME> PAYDEN & RYGEL VALUE STOCK FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 11-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> DEC-30-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 26176
<INVESTMENTS-AT-VALUE> 23542
<RECEIVABLES> 47
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 30
<TOTAL-ASSETS> 23619
<PAYABLE-FOR-SECURITIES> 5
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70
<TOTAL-LIABILITIES> 75
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28976
<SHARES-COMMON-STOCK> 2537
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 74
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3314)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2192)
<NET-ASSETS> 23544
<DIVIDEND-INCOME> 135
<INTEREST-INCOME> 147
<OTHER-INCOME> 0
<EXPENSES-NET> 112
<NET-INVESTMENT-INCOME> 170
<REALIZED-GAINS-CURRENT> (3314)
<APPREC-INCREASE-CURRENT> (2192)
<NET-CHANGE-FROM-OPS> (5336)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 97
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2599
<NUMBER-OF-SHARES-REDEEMED> 68
<SHARES-REINVESTED> 7
<NET-CHANGE-IN-ASSETS> 23544
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 85
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 136
<AVERAGE-NET-ASSETS> 16477
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> (0.75)
<PER-SHARE-DIVIDEND> 0.04
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.28
<EXPENSE-RATIO> 0.79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> GSF98.FDS
<SERIES>
<NUMBER> 20
<NAME> PAYDEN & RYGEL GROWTH STOCK FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> DEC-30-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 2624
<INVESTMENTS-AT-VALUE> 2398
<RECEIVABLES> 1
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 50
<TOTAL-ASSETS> 2449
<PAYABLE-FOR-SECURITIES> 1
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 64
<TOTAL-LIABILITIES> 65
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2766
<SHARES-COMMON-STOCK> 262
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (157)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (226)
<NET-ASSETS> 2384
<DIVIDEND-INCOME> 22
<INTEREST-INCOME> 7
<OTHER-INCOME> 0
<EXPENSES-NET> 20
<NET-INVESTMENT-INCOME> 10
<REALIZED-GAINS-CURRENT> (156)
<APPREC-INCREASE-CURRENT> (226)
<NET-CHANGE-FROM-OPS> (372)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 339
<NUMBER-OF-SHARES-REDEEMED> 79
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 2384
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 15
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 64
<AVERAGE-NET-ASSETS> 2943
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> (0.89)
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.11
<EXPENSE-RATIO> 0.77
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 21
<NAME> PAYDEN & RYGEL HIGH INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 11-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-START> DEC-30-1997
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 94671
<INVESTMENTS-AT-VALUE> 89773
<RECEIVABLES> 1990
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 30
<TOTAL-ASSETS> 91793
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 124
<TOTAL-LIABILITIES> 124
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96648
<SHARES-COMMON-STOCK> 9382
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 986
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1067)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (4898)
<NET-ASSETS> 91669
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3735
<OTHER-INCOME> 0
<EXPENSES-NET> 243
<NET-INVESTMENT-INCOME> 3492
<REALIZED-GAINS-CURRENT> (1067)
<APPREC-INCREASE-CURRENT> (4898)
<NET-CHANGE-FROM-OPS> (2473)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2506
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10586
<NUMBER-OF-SHARES-REDEEMED> 1432
<SHARES-REINVESTED> 230
<NET-CHANGE-IN-ASSETS> 91669
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 157
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 268
<AVERAGE-NET-ASSETS> 53877
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.47
<PER-SHARE-GAIN-APPREC> (0.34)
<PER-SHARE-DIVIDEND> 0.36
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.77
<EXPENSE-RATIO> 0.54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>