Payden & Rygel has won a €100 million corporate bond mandate from an Italian pension scheme.
The Italian Journalists’ Supplementary Pension Fund appointed the fixed income specialist, which manages over $156 billion in assets, following a public tender.
Payden, which is based in Los Angeles and has international offices in London and Milan, will manage a portfolio of global investment grade corporate bonds through its Milan subsidiary.
According to Antonella Manganelli, CEO of Payden Global SIM SpA, this is the eleventh institutional mandate awarded to the firm from Italian asset owners.
“It is a great honour for us to have been selected by the Giornalisti Fund, and to be able to contribute to the segment with an investment solution designed specifically for the fund and its members,” Manganelli said.
Joan Payden, founder and CEO of Payden & Rygel, said the mandate would offer broad diversification and exposure to global credit markets, with a focus on liquidity dynamics, risk management, ESG criteria and capital preservation.
