<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
<NUMBER> 28
<NAME> PAYDEN & RYGEL SMALL CAP LEADERS FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 5-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> DEC-20-1999
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 18457
<INVESTMENTS-AT-VALUE> 20100
<RECEIVABLES> 234
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20334
<PAYABLE-FOR-SECURITIES> 262
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 28
<TOTAL-LIABILITIES> 290
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19085
<SHARES-COMMON-STOCK> 1890
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 45
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (794)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1708
<NET-ASSETS> 20044
<DIVIDEND-INCOME> 51
<INTEREST-INCOME> 62
<OTHER-INCOME> 0
<EXPENSES-NET> 59
<NET-INVESTMENT-INCOME> 54
<REALIZED-GAINS-CURRENT> (794)
<APPREC-INCREASE-CURRENT> 1709
<NET-CHANGE-FROM-OPS> 969
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2110
<NUMBER-OF-SHARES-REDEEMED> 221
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 20044
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 102
<AVERAGE-NET-ASSETS> 20504
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.59
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.61
<EXPENSE-RATIO> 0.80
</TABLE>
