Payden & Rygel has been appointed to manage a €200 million global bond mandate for Italy’s Priamo Pension Fund, the national retirement scheme for the country’s public transport employees.
Payden, which specialises in actively managed global bond portfolios, won the mandate following a public tender issued in November 2020.
The appointment brings the total of institutional mandates managed by Payden for Italian clients to 14, according to Nicolò Piotti, head of business development for continental Europe at the firm.
Joan Payden, president and CEO, added: “Payden’s expertise in managing global fixed income portfolios, and our ability to offer tailored investment solutions that meet the specific needs of institutional entities, including broad diversification, liquidity, and ESG factors made an important contribution to our selection.”
The investment firm, which has $140 billion (€117.9 billion) assets worldwide, is privately owned by its employees. Its clients include central banks, pension funds, insurance companies, banks, and religious entities.
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