PAYDEN & RYGEL INVESTMENT GROUP
NSAR-B, 1998-12-31
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<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
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<PAGE>      PAGE  3
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007 C014500 45
007 C014600 46
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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
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020 A000004 CIBC-OPPENHEIMEIR
020 C000004     38
020 A000005 STEPHANS
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020 A000006 DONALDSON, LUFKIN, JENRETTE
020 C000006     25
020 A000007 MERRILL LYNCH
020 C000007     11
<PAGE>      PAGE  4
020 A000008 ALEX BROWN
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020 A000009 MORGAN GRENFELL
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020 A000010 NATWEST
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022 A000008 DEUTSCHE BANK
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022 A000009 J.P. MORGAN
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022 A000010 DONALDSON, LUFKIN, JENRETTE
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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070 E020100 Y
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070 F020100 N
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070 J010100 Y
070 J020100 N
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<PAGE>      PAGE  9
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070 P020100 N
070 Q010100 N
070 Q020100 N
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<PAGE>      PAGE  10
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008 D010201 LOS ANGELES
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<PAGE>      PAGE  11
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050  000200 N
051  000200 N
052  000200 N
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057  000200 N
058 A000200 N
059  000200 Y
<PAGE>      PAGE  12
060 A000200 N
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064 A000200 Y
064 B000200 N
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067  000200 N
068 A000200 N
068 B000200 N
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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
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070 I020200 N
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070 J020200 N
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<PAGE>      PAGE  13
070 K020200 Y
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
052  000300 N
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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008 A000401 PAYDEN & RYGEL
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<PAGE>      PAGE  19
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045  000400 Y
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<PAGE>      PAGE  20
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050  000400 N
051  000400 N
052  000400 N
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055 A000400 N
055 B000400 N
056  000400 Y
057  000400 N
058 A000400 N
059  000400 Y
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066 A000400 N
067  000400 N
068 A000400 N
068 B000400 N
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070 A020400 N
070 B010400 N
070 B020400 N
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070 C020400 Y
070 D010400 N
<PAGE>      PAGE  21
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070 G020400 N
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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
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070 Q020400 N
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070 R020400 N
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<PAGE>      PAGE  22
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<PAGE>      PAGE  23
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008 A000501 PAYDEN & RYGEL
008 B000501 A
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<PAGE>      PAGE  24
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056  000500 Y
057  000500 N
058 A000500 N
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066 A000500 N
067  000500 N
068 A000500 N
068 B000500 N
069  000500 N
070 A010500 Y
<PAGE>      PAGE  25
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070 D020500 N
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070 E020500 Y
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070 F020500 N
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070 G020500 N
070 H010500 N
070 H020500 N
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070 I020500 N
070 J010500 Y
070 J020500 N
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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
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070 Q020500 N
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
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008 B000601 A
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<PAGE>      PAGE  28
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050  000600 N
051  000600 N
052  000600 N
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056  000600 Y
057  000600 N
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<PAGE>      PAGE  29
066 A000600 N
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<PAGE>      PAGE  30
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<PAGE>      PAGE  31
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008 A000701 PAYDEN & RYGEL
008 B000701 A
008 C000701 801-19762
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<PAGE>      PAGE  32
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<PAGE>      PAGE  33
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070 J020700 N
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<PAGE>      PAGE  34
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<PAGE>      PAGE  35
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<PAGE>      PAGE  36
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<PAGE>      PAGE  37
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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
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072 D000900        0
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072 G000900       37
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072 J000900        7
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072 M000900        6
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072 P000900        0
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072 R000900       18
072 S000900        1
072 T000900        0
072 U000900        0
072 V000900        0
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072 X000900      208
072 Y000900        0
072 Z000900     3302
072AA000900      557
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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
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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
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071 D001200  245
072 A001200 12
072 B001200    13074
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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
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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
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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
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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
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072 A001400 12
072 B001400     6291
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072 D001400        0
<PAGE>      PAGE  55
072 E001400        0
072 F001400      270
072 G001400       58
072 H001400        0
072 I001400       22
072 J001400       19
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072 M001400       12
072 N001400       30
072 O001400        0
072 P001400        0
072 Q001400       36
072 R001400       20
072 S001400        1
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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
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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
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<PAGE>      PAGE  56
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<PAGE>      PAGE  57
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<PAGE>      PAGE  58
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<PAGE>      PAGE  64
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<PAGE>      PAGE  68
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<PAGE>      PAGE  72
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<PAGE>      PAGE  73
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<PAGE>      PAGE  75
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<PAGE>      PAGE  76
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<PAGE>      PAGE  78
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<PAGE>      PAGE  79
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<PAGE>      PAGE  80
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<PAGE>      PAGE  81
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<PAGE>      PAGE  83
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SIGNATURE   BRADLEY F. HERSH                             
TITLE       VICE PRESIDENT      
 


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<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
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<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                             0
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<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
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<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
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<PERIOD-END>                               OCT-31-1998
<INVESTMENTS-AT-COST>                           224766
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<PAYABLE-FOR-SECURITIES>                         52784
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<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
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<NUMBER-OF-SHARES-REDEEMED>                       5096
<SHARES-REINVESTED>                                731
<NET-CHANGE-IN-ASSETS>                           75749
<ACCUMULATED-NII-PRIOR>                            139
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<PER-SHARE-NAV-END>                              10.23
<EXPENSE-RATIO>                                   0.44
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</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
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<ACCUM-APPREC-OR-DEPREC>                           490
<NET-ASSETS>                                      7078
<DIVIDEND-INCOME>                                   83
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<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
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<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
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<PER-SHARE-NAV-BEGIN>                            10.79
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<RETURNS-OF-CAPITAL>                                 0
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<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
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<ASSETS-OTHER>                                       0
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<PAYABLE-FOR-SECURITIES>                          1190
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<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
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<OTHER-INCOME>                                    (41)
<EXPENSES-NET>                                     175
<NET-INVESTMENT-INCOME>                            288
<REALIZED-GAINS-CURRENT>                        (1121)
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<NET-CHANGE-FROM-OPS>                            (160)
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<NUMBER-OF-SHARES-SOLD>                           1008
<NUMBER-OF-SHARES-REDEEMED>                        655
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<NET-CHANGE-IN-ASSETS>                            3920
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<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
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<ACCUM-APPREC-OR-DEPREC>                        (2056)
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<DIVIDEND-INCOME>                                  959
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<NET-INVESTMENT-INCOME>                            755
<REALIZED-GAINS-CURRENT>                          1130
<APPREC-INCREASE-CURRENT>                       (2048)
<NET-CHANGE-FROM-OPS>                            (163)
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<DISTRIBUTIONS-OF-GAINS>                            31
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<SHARES-REINVESTED>                                 46
<NET-CHANGE-IN-ASSETS>                           25920
<ACCUMULATED-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    320
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<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
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         26455
<SHARES-COMMON-STOCK>                            26455
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<DIVIDEND-INCOME>                                    0
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<EXPENSES-NET>                                      48
<NET-INVESTMENT-INCOME>                            877
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<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
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<TOTAL-ASSETS>                                   23619
<PAYABLE-FOR-SECURITIES>                             5
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         28976
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<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
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<NUMBER-OF-SHARES-REDEEMED>                         68
<SHARES-REINVESTED>                                  7
<NET-CHANGE-IN-ASSETS>                           23544
<ACCUMULATED-NII-PRIOR>                              0
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<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
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<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
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<SENIOR-EQUITY>                                      0
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<ACCUMULATED-NET-GAINS>                          (157)
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<ACCUM-APPREC-OR-DEPREC>                         (226)
<NET-ASSETS>                                      2384
<DIVIDEND-INCOME>                                   22
<INTEREST-INCOME>                                    7
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<EXPENSES-NET>                                      20
<NET-INVESTMENT-INCOME>                             10
<REALIZED-GAINS-CURRENT>                         (156)
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<NET-CHANGE-FROM-OPS>                            (372)
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<NUMBER-OF-SHARES-REDEEMED>                         79
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<NET-CHANGE-IN-ASSETS>                            2384
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<PER-SHARE-NAV-END>                               9.11
<EXPENSE-RATIO>                                   0.77
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<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
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<INVESTMENTS-AT-VALUE>                           89773
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<TOTAL-LIABILITIES>                                124
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         96648
<SHARES-COMMON-STOCK>                             9382
<SHARES-COMMON-PRIOR>                                0
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<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)
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<NET-CHANGE-FROM-OPS>                           (2473)
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<NUMBER-OF-SHARES-REDEEMED>                       1432
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<NET-CHANGE-IN-ASSETS>                           91669
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<AVERAGE-NET-ASSETS>                             53877
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<EXPENSE-RATIO>                                   0.54
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<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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