ADVISORY/EXPERT SOURCE: 2004 Bonds Forecast: Payden & Rygel's Jim Sarni Says Bonds Still Have ``Legs to Stand On'' for the Long Run.Business Editors ADVISORY... LOS ANGELES--(BUSINESS WIRE)--Dec. 22, 2003 Sarni Also Can Comment on Investment Outlook for Bonds, Mutual Funds, the Economy Jim Sarni, managing principal of Payden & Rygel, is available to comment on the investment outlook for bonds in 2004. Sarni oversees a team that manages $27 billion in short-term fixed-income strategies for institutions and individuals. The bulls are riding high in the stock market and many investors have turned bearish on bonds, but Sarni cautions investors that selling off all bonds to move into equities is foolhardy fool·har·dy adj. fool·har·di·er, fool·har·di·est Unwisely bold or venturesome; rash. See Synonyms at reckless. [Middle English folhardi, from Old French fol hardi : . Payden & Rygel (www.payden.com) is one of the largest independent global investment managers in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , with $50 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. . Since 1983, the firm has advised corporations, foundations, endowments, pension plans, public funds See Fund, 3. See also: Public and individual investors on their overall investment strategies. The firm, headquartered in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. with offices in London, Dublin and Frankfurt, is the advisor to the Paydenfunds family of no-load, low-expense bond and stock mutual funds. Sound bytes Sound Bytes is the title of a two hour weekly program that airs on WHAM, a Rochester, NY radio station. As of the initial writing of this article in March of 2007, it can be heard Sundays starting at 11AM Eastern time. from Sarni include: -- The global economic recovery, evidenced by declining unemployment, is not likely to cause a material increase in inflation. -- The collapse of the equity markets over the past three years demonstrated how crucial portfolio diversification Portfolio diversification Investing in different asset classes and in securities of many issuers in an attempt to reduce overall investment risk and to avoid damaging a portfolio's performance by the poor performance of a single security, industry, (or country). can be. Balance is the watchword for successful long-term investing. -- Bonds can offer a combination of stable income and relatively low price volatility, attributes not found in other asset classes. -- A diversified bond portfolio is a compelling choice for investors in virtually any market environment. There are appropriate bond strategies for all market conditions. -- Although some are counseling that intermediate bonds are not a good investment in today's market because interest rates have only one way to go -- up -- we disagree. -- Interest rates should stay within a low range for at least the next 6-12 months. FOR INTERVIEWS: Jim Sarni may be reached at 213-625-1900, or to arrange in-person or phone interviews, please contact Jessica del Mundo at 310-396-2400 or jdelmundo@cswpr.com or Amaya Giauque at 213-625-1900 or agiauque@payden-rygel.com. |
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