Burgeoning European Opportunities Spur Prominent U.S. Investment Firm to Open London Office.LONDON--(BUSINESS WIRE)--Sept. 15, 1999-- Responding to dramatic trends in European financial markets, Payden & Rygel, one of the largest independent investment counseling firms 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. , has launched Payden & Rygel Global Ltd. in London. "The acceleration of the trend of pension funds and savings plans away from traditional bank products towards the global investment strategies that we have provided for the past 15 years presents us with a compelling opportunity," said Joan A. Payden, chief executive officer of Payden & Rygel. Since its founding in 1983, Los Angeles-based Payden & Rygel has developed a proven reputation as an institutional money manager for Fortune 100 corporations, a variety of large state and corporate pension funds, hospitals, charitable foundations and endowments. The firm has more than US$27 billion under management, including a family of 26 no-load mutual funds No-load mutual fund An open-end investment company whose shares are sold without a sales charge. There can be other distribution charges, however, such as Article 12B-1 fees. A true no-load fund has neither a sales charge nor a distribution fee. , which it launched in 1992. "We believe there is a clear role for a firm such as ours that offers independence of thought, seeks excellence in investment performance, and pays singular SINGULAR, construction. In grammar the singular is used to express only one, not plural. Johnson. 2. In law, the singular frequently includes the plural. attention to our clients' objectives," Payden added. The firm's London office signals further expansion of Payden & Rygel's global reach and international investment product offerings, which to date include equity and bond funds as well as euro cash management for companies operating in countries of the European Monetary Union European Monetary Union An agreement by participating European Union member countries that includes protocols for the pooling of currency reserves and the introduction of a common currency. . In addition, Payden & Rygel formed a joint venture last year with Germany's oldest family-owned private investment bank, Metzler Bank The B. Metzler seel. Sohn & Co. KGaA is a private banking company in Frankfurt, Germany. Metzler provided financial services as a merchant bank, in securities transactions, as asset manager and a corporate finance consultant. of Frankfurt, founded in 1674. The joint venture company offers cross-border investment products and services in both the United States and Europe. "Payden & Rygel has already won a number of mandates from European institutions," said Robin Creswell, managing director of Payden & Rygel Global Ltd. "We will provide service to our existing relationships from London and we also will be working closely with consultants, pension funds and other institutions to attract additional funds." Previously Creswell was a consultant to U.K. and U.S. investment fund managers providing advice on derivatives derivatives In finance, contracts whose value is derived from another asset, which can include stocks, bonds, currencies, interest rates, commodities, and related indexes. Purchasers of derivatives are essentially wagering on the future performance of that asset. and hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" . He also served for several years as deputy managing director and director of corporate finance for Greystone International Ltd. of Dublin, a subsidiary that manages offshore investments for Chicago-based Gelderman Inc. "Having worked for large organizations in both the U.S. and U.K., I feel very fortunate to find a firm that places such a major emphasis on team decision making to meet client objectives. This approach eliminates individual biases that could steer steer castrated male cattle beast over a year of age. See also bullock, buller steer. steer bulling see bulling. steer Medtalk verb us off course and improves the quality of analysis overall," Creswell commented. Payden & Rygel Global Ltd., located in the City of London, received IMRO IMRO Irish Music Rights Organisation IMRO Investment Management Regulatory Organisation IMRO Internal Macedonian Revolutionary Organization IMRO Interactive Marketing Research Organisation approval on Sept. 8, 1999. For further information on financial products and services, call 44-171-877-0500. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion