US Money Managers Payden & Rygel is launching Dublin-listed dollar and euro Liquidity funds next mon...
US Money Managers Payden & Rygel is launching Dublin-listed dollar and euro Liquidity funds next month. The funds will have daily liquidity and invest in fixed-income assets with an average life of 18 months and aim to return 1% above Libor over a five-year period. The portfolios are run almost identically to funds out of Payden's Los Angeles office. However, the dollar fund has a preference for US sovereign bonds, the euro fund likewise for Government bonds. Furthermore, both have their entire foreign currency exposure hedged into their native denomination. This is the third off-the-she...
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