Payden & Rygel unveils global equity income fund

Los Angeles-headquartered investment manager Payden & Rygel is launching a global equity income Ucits fund.

The Global Equity Income Fund launch follows raising $44 million (€37.8 million) in seed capital from founder institutional investors.

The fund’s portfolio is focused on value investment in large-cap equities and is weighted some 45% towards US equities and 55% the rest of world.  The portfolio guidelines allow up to 20% weighting in emerging market equities with a minimum investment of $1 million.

Robin Creswell, managing principal of Payden & Rygel, said: “The new fund’s core objective is to offer a solution to British and international investors who require income but are finding secure and reliable sources difficult to identify particularly as supplies of income-generating stocks in their domestic markets have all but dried up.”

The fund brings Payden & Rygel’s total Ucits assets under management (AuM) to over $3.66bn while the firm’s total AuM exceeds $120bn.

Payden & Rygel currently lists 15 Ucits funds with investment focuses ranging from high-yield, liquidity and inflation-linked through to emerging markets corporate bonds.

©2017 funds europe

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