• Select this fund if you expect to retire in or around 2020.
• The 2020+ Fund is a target maturity fund designed to be a solution in which you should consider investing most or all of your retirement savings.
• The funds ratio of stocks to bonds seeks to create the appropriate asset allocation for the balance of the investors working years and throughout retirement.
• These funds are monitored and rebalanced quarterly by Wilshire Funds Management, an objective third-party consultant with considerable experience in building long-term retirement portfolios.

The Payden/Wilshire Longevity Fund 2020+ is structured as a fund-of-funds. It is constructed using a series of underlying securities that invest in large-, mid-, and small-cap domestic stocks, international stocks, bonds, other fixed-income securities and real estate. The percentage of stocks will gradually decrease over time as you approach and then move into retirement. The investment objective during your working years is to provide an amount of growth appropriate for someone 10 to 15 years from retirement, and then tapering off as retirement nears. Leading up to and during retirement, the fund holds an increasing amount of inflation protection securities to help minimize volatility and preserve spending power.

PWLHX

There are three ways to invest in Payden/Wilshire Longevity funds:

• Through your employer’s retirement saving plan
• Call us at 877 870-8877
• E-Mail us at info@paydenwilshire.com

For more information and to obtain a prospectus, visit our web site at paydenwilshire.com or call 877 870-8877. Before investing investors should consider investment objectives, risks, charges, expenses and other important information about the fund, which is contained in this document; read the prospectus carefully before investing. Investing in foreign securities offers different rewards and challenges from investing in domestic securities including changes in foreign exchange rates, political changes and differences in reporting standards. Wilshire Funds Management uses mathematical and statistical investment processes to allocate assets, select managers, and construct portfolios and funds in ways that seek to outperform their specific benchmarks. Past performance does not guarantee future returns, and processes used may not achieve the desired results. The Payden/Wilshire Funds are distributed through Payden & Rygel Distributors, member FINRA.