Milan, December 9, 2024 – Payden & Rygel, a leading independent asset management firm specializing in fixed income, expands its portfolio with the launch of the Payden Global Investment Grade Corporate Bond Fund. This new UCITS fund targets pension funds, family offices, insurance companies, and corporates, offering an innovative and diversified investment solution.
The fund is designed to maximize total return, primarily investing in investment grade corporate bonds, complemented by high yield, emerging market, and securitized debt. Combining top-down macroeconomic analysis with bottom-up assessments of issuers’ fundamentals, the fund aims to outperform the Bloomberg Global Aggregate Corporate Index through active management. Its diversified risk profile across sectors, countries, duration, and currencies minimizes exposure to issuer-specific risks.
With an initial funding of $50 million, the fund represents an evolution of the global multisector strategies Payden & Rygel has applied for over a decade. It addresses institutional investors’ need for yield in a market environment where central banks are easing monetary policies, impacting bond yields. The fund aligns with Article 8 of the SFDR, demonstrating a commitment to sustainable investments. It will initially offer currency-hedged share classes in USD, GBP, and EUR, with further expansions planned based on investor demand.
Antonella Manganelli, CEO of Payden & Rygel Italy, stated:
“Investment grade corporate bonds remain an attractive asset class in a low-rate environment. Through our active approach and in-depth analysis, the new fund aims to deliver alpha and excellent returns to institutional investors.”
Frasat Shah, Senior Vice President and Portfolio Manager, added:
“Our team leverages the expertise of strategists, analysts, and economists to identify undervalued securities, maximizing risk-adjusted returns across the investment grade bond spectrum.”
