Payden & Rygel wins Lloyd's of London Investment Mandate

Payden & Rygel wins Lloyd's of London Investment Mandate

March 21, 2024

Asset Management
Algemeen (33) sparen dollar goud

Payden & Rygel is proud to announce that it has been selected by Lloyd’s of London to manage a new USD Enhanced Yield Liquidity Fund. This follows an extensive, independent selection and due diligence process overseen by Lloyd’s adviser Schroders Solutions; the new fund will be the first liquid fixed income strategy available on the Lloyd’s investment platform.

The Fund is designed to meet the needs of insurance groups and syndicates connected with the Lloyd’s market, who often hold very large cash allocations, by offering higher yields and better return opportunities compared to bank deposits and traditional money market funds. Through the use of a broad range of high-quality fixed income securities, the Fund targets higher returns without compromising liquidity or affecting capital charges.

Specifically, the new Lloyd’s USD Enhanced Yield Liquidity Fund is formally targeted to achieve 40 bps above cash with T+1 liquidity, and is focused on members’ cash deposits held at Lloyd’s in excess of regulatory requirements. It was made available to the Lloyd’s market from the beginning of this year and has already attracted over $750m in investment. This is an important new tool available in the market and Payden, which is also tasked with distribution, has issued invitations to all asset owners in the Lloyd’s market to a round-table presentation early in March.

Joan Payden, President and Chief Executive Officer of Payden & Rygel, said, 'Payden & Rygel is excited and honoured to have been selected to manage the Lloyd’s USD Enhanced Yield Liquidity Fund. 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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