<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 3
<NAME> PAYDEN & RYGEL SHORT BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-01-1999
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 66349
<INVESTMENTS-AT-VALUE> 66434
<RECEIVABLES> 820
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 6
<TOTAL-ASSETS> 67260
<PAYABLE-FOR-SECURITIES> 251
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 52
<TOTAL-LIABILITIES> 303
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 68928
<SHARES-COMMON-STOCK> 6911
<SHARES-COMMON-PRIOR> 5646
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2110)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 139
<NET-ASSETS> 66957
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3900
<OTHER-INCOME> 0
<EXPENSES-NET> 245
<NET-INVESTMENT-INCOME> 3655
<REALIZED-GAINS-CURRENT> (269)
<APPREC-INCREASE-CURRENT> 558
<NET-CHANGE-FROM-OPS> 3944
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3697
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3046
<NUMBER-OF-SHARES-REDEEMED> 2163
<SHARES-REINVESTED> 382
<NET-CHANGE-IN-ASSETS> 12398
<ACCUMULATED-NII-PRIOR> 9
<ACCUMULATED-GAINS-PRIOR> (1841)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 172
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 328
<AVERAGE-NET-ASSETS> 61119
<PER-SHARE-NAV-BEGIN> 9.66
<PER-SHARE-NII> 0.59
<PER-SHARE-GAIN-APPREC> 0.03
<PER-SHARE-DIVIDEND> 0.59
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.69
<EXPENSE-RATIO> 0.40
</TABLE>