Form DEFA14A PAYDEN & RYGEL INVESTMEN

Preliminary Proxy Statement

Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

Definitive Proxy Statement

Definitive Additional Materials

Soliciting Material under § 240.14a-12

No fee required.

Fee paid previously with preliminary materials:

Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

PAYDEN GLOBAL LOW DURATION FUND

Dear Valued Investor,

You are receiving this letter because you were a shareholder as of July 31, 2026.

Enclosed is a supplement to the Prospectus, Summary Prospectus, and Statement of Additional Information, each dated February 28, 2026, regarding the proposed fund reorganization, along with a proxy card.

Important: If you have already voted, you do not need to vote again. Please disregard this letter.

If you have not yet voted, please follow the instructions provided on the proxy card to submit your vote promptly.

Please vote today to help avoid adjournment of the fund’s special shareholder meeting.

If you have any questions or need assistance, please call 1-844-438-4878 to speak with a proxy specialist.

Thank you for your investment and for taking the time to vote.

Thank you,

Payden Funds

Your unique control number can be found on the 

enclosed ballot in the box marked with an arrow.