As a valuable addition to a well-diversified portfolio, we offer additional investment opportunities through our Metzler/Payden Joint Venture. The US asset manager Payden & Rygel specializes in active management of bond, balanced and equity strategies. These strategies include Emerging Market Bonds, Absolute Return Investing, Investment Grade Corporate Bonds, High Yield Bonds and Global/US Equity Income.
Metzler/Payden: combining expertise
In order to offer its clients additional diversification capabilities, Metzler Bank and the US asset manager Payden & Rygel founded the Metzler/Payden LLC Joint Venture, a Los Angeles-based C-Corp, in 1998. Payden & Rygel, founded in 1983, is now one of the largest independent investment managers in the United States with approximately USD 119 billion assets under management for institutional and private clients.
Both venture partners always maintain their independence, which is an important feature of the joint venture. Our independence allows us to place the interests of our clients at the center of our activities at all times. This includes neutral advice that is tailored exclusively to the client's individual needs.
Investment philosophy: active and fundamental
Payden & Rygel's management is active and investment decisions are based solely on fundamental analysis. The expert teams do not rely exclusively on macro or sector trends to enhance performance. By moving away from traditional benchmarks, Payden & Rygel retains a high degree of flexibility in identifying attractively valued assets. The result is a "best ideas" portfolio based on decades of experience. A risk management system that has proven itself even in extreme market phases is integrated into the portfolios. This gives European investors access to asset classes that are globally diversified and offer additional return potential.
Payden & Rygel's environmental, social & governance (ESG) strategy aims to discover and monitor the risks and opportunities that do not appear in traditional financial statements but that we believe are significant for future investment performance. This mission is supported by three important beliefs. First, we do not view ESG as an ethical or moral overlay which is secondary to the investment process. Second, ESG factors are relevant in our process to the extent they are likely to affect investment performance. And third, consistent and comparable ESG data is essential for responsible determination of credit risk and materiality.
Metzler/Payden investment strategies
Our portfolio management focuses its selection process on titles that offer attractive risk-adjusted returns and are undervalued relative to other titles with equal duration and/or rating.
- Payden Absolute Return Investing
- Payden Emerging Market Debt
- Payden High Yield
- Payden Global Corporate Bonds
- Payden Global and US Equity Income