Payden & Rygel Launches Payden Absolute Return Bond Fund

Offering provides a distinct strategy for the challenges of today's bond market

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Dec 01, 2014, 05:22 ET

LOS ANGELES, Dec. 1, 2014 /PRNewswire/ -- Payden & Rygel, the Los Angeles-based global asset manager, announced today the launch of the Payden Absolute Return Bond Fund (PYARX), an open-end fund which will invest across the spectrum of fixed income sectors. The strategy, launched over six years ago for institutions, aims to generate incremental absolute returns while managing downside risk.

Brad Boyd, portfolio manager at Payden & Rygel.

"We are pleased to offer our absolute return strategy to a wider set of investors through the launch of the Payden Absolute Return Bond Fund. It brings together the strengths of our investment expertise across regions and sector disciplines combined with the practical approach to risk management for which we are known," said Joan Payden at Payden & Rygel.

The fund can move dynamically among fixed income sectors and individual securities to achieve its LIBOR + 3% return objective. It takes advantage of Payden's broad investment resources by incorporating the most compelling risk-adjusted opportunities from each sector team. A special emphasis is placed on risk management and mitigating potential downside.

In the current environment, bond markets face several challenges including historically low yields and dangerously thin margins of safety - should interest rates rise. "By removing conventional bond benchmarks, maintaining flexibility and sourcing value from Payden's extensive bench of investment professionals, the Payden Absolute Return Bond Fund aims to overcome these challenges," said Brad Boyd, portfolio manager.

As a leader in fixed income for more than 30 years, Payden has been at the forefront of investment innovations and solutions for global investors.

For more information about the fund or to see a prospectus, visit payden.com.

About Payden & Rygel

Payden & Rygel (payden.com) is one of the largest independently-owned global investment management firms with $85 billion in assets under management. Since 1983, the firm has advised corporations, foundations, endowments, pension funds, public plans and individual investors on their overall investment strategies. Payden & Rygel offers a full array of investment strategies and products, including US and global fixed-income and equity as well as absolute return strategies. Headquartered in Los Angeles, with offices in Boston, London, Dublin, Frankfurt and Paris, Payden & Rygel is advisor to the Payden family of US-based mutual funds and to the firm's Irish-domiciled funds.

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SOURCE Payden & Rygel