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Rating:Payden Enters into a Distribution Alliance Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, June 05, 2013

Payden Enters into a Distribution Alliance

Reported by Nicole Spector

Looking to break ground in the broker-dealer channel, Los Angeles-based Payden & Rygel has hired Illinois asset manager Destra Capital Investments to provide support for Payden in this space.

According to a statement, the $80B asset manager said that "this alliance gives Payden & Rygel the ability to actively market its investment strategies to a segment of the retail market where they have not previously focused."

Based in Lisle, Ill., Destra Capital was founded by Dominic Martellaro, who previously ran intermediary distribution for Janus. Destra offers sub-advised mutual funds.

“As Payden looked to provide more resources in the retail market we searched for a firm that would complement our already successful independent advisor focused relationship team. Independent advisors have always been and will continue to be, an important focus for our firm,” stated David Hilton, Senior Vice President at Payden & Rygel. “Approximately a third of the total assets, in our funds, are from independent advisors. Destra Capital gives us the ability to service and support the broker-dealer community. With this new relationship, we round out our ability to work with all channels in the retail marketplace.”

Here is the press release:


Company Press Release

Payden & Rygel Teams with Destra Capital Investments for Fund Distribution



Los Angeles, CA – June 5, 2013.  Payden & Rygel today announced that it has hired Destra Capital Investments to provide support for the Payden Mutual Funds family in the broker-dealer community. This alliance gives Payden & Rygel the ability to actively market its investment strategies to a segment of the retail market where they have not previously focused.

“As Payden looked to provide more resources in the retail market we searched for a firm that would complement our already successful independent advisor focused relationship team. Independent advisors have always been and will continue to be, an important focus for our firm,” said David Hilton, Senior Vice President at Payden & Rygel.

“Approximately a third of the total assets, in our funds, are from independent advisors. Destra Capital gives us the ability to service and support the broker-dealer community. With this new relationship, we round out our ability to work with all channels in the retail marketplace.”

“Payden’s family of mutual funds is time tested, with long track records and strong performance,” said Dominic Martellaro, CEO of Destra Capital. “Distributing the Payden mutual funds is a natural extension for our firm. Payden’s specialty in fixed-income and keen eye to risk management meshes very well with our firm’s investment approach.” Payden & Rygel provides investors with a globally-diversified array of equity, fixed-income and absolute return fund strategies at every level of the risk/reward continuum. These strategies are available through the Payden Mutual Fund families. The funds provide retail investors low-cost access to the same high-quality investment strategies that have proven successful for our global institutional clients for the past 30 years."

Press Inquiries Contact  Annette Bronkesh, New York: (973) 778-8648 or annettec@att.net.

About Payden & Rygel

Payden & Rygel (payden.com) is one of the largest independently-owned global investment management firms with more than $80 billion in assets under management. Since 1983, the firm has advised corporations, foundations, endowments, pension funds, public plans and individual investors on their overall investment strategies. Payden & Rygel offers a full array of investment strategies and products, including US and global fixed-income and equity as well as absolute return strategies. Headquartered in Los Angeles, with offices in Boston, London, and Paris, Payden & Rygel is advisor to the Payden family of mutual funds. www.payden.com
  

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