Lloyd's selects Payden & Rygel to manage new US fixed income fund
Written by Adam Cadle
22/03/2024
Lloyd's of London has selected US asset manager, Payden & Rygel, to manage a newly launched US fixed income fund.
The USD Enhanced Yield Liquidity fund will be the first liquid fixed income strategy to be available on Lloyds’ investment platform. The fund, which was launched earlier this year, has so far attracted US$750m in investment.
Payden & Rygel was selected to manage the fund following a due diligence process led by Lloyds’ adviser Schroders.
“Payden & Rygel is excited and honoured to have been selected to manage the Lloyd’s USD Enhanced Yield Liquidity Fund,” said Joan Payden, Payden & Rygel chief executive.
“We have focused on delivering strong risk-adjusted returns to sophisticated institutions for the last forty years and at Lloyd’s specifically for the last fifteen years. We are very much looking forward to this partnership with Lloyd’s and working on this new venture.”
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