PAYDEN & RYGEL INVESTMENT GROUP
NSAR-A, EX-27, 2000-06-26
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<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>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-2000
<PERIOD-START>                             NOV-01-1999
<PERIOD-END>                               APR-30-2000
<INVESTMENTS-AT-COST>                           184558
<INVESTMENTS-AT-VALUE>                          181485
<RECEIVABLES>                                    14456
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                12
<TOTAL-ASSETS>                                  195953
<PAYABLE-FOR-SECURITIES>                         73224
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           93
<TOTAL-LIABILITIES>                              73317
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        139233
<SHARES-COMMON-STOCK>                            13382
<SHARES-COMMON-PRIOR>                            20682
<ACCUMULATED-NII-CURRENT>                           68
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (13827)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        (2838)
<NET-ASSETS>                                    122636
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 5493
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     388
<NET-INVESTMENT-INCOME>                           5105
<REALIZED-GAINS-CURRENT>                        (7169)
<APPREC-INCREASE-CURRENT>                         3158
<NET-CHANGE-FROM-OPS>                             1094
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         5293
<DISTRIBUTIONS-OF-GAINS>                          1978
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            901
<NUMBER-OF-SHARES-REDEEMED>                       8749
<SHARES-REINVESTED>                                548
<NET-CHANGE-IN-ASSETS>                         (72592)
<ACCUMULATED-NII-PRIOR>                            256
<ACCUMULATED-GAINS-PRIOR>                       (6657)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              216
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    388
<AVERAGE-NET-ASSETS>                            155824
<PER-SHARE-NAV-BEGIN>                             9.44
<PER-SHARE-NII>                                   0.35
<PER-SHARE-GAIN-APPREC>                         (0.30)
<PER-SHARE-DIVIDEND>                              0.33
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               9.16
<EXPENSE-RATIO>                                   0.50


</TABLE>


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