A $34 billion Australian superannuation fund has awarded a $700 million mandate to GSFM fund manager partner Payden & Rygel. The mandate funded in Q4 2023 at $400 million, with two additional contributions to the portfolio in 2024.

GSFM head of institutional business, Charles Levinge, said the super fund was looking for a diversified credit portfolio to complement its high-grade bond exposure, and the Payden Multi Asset Credit (PMAC) strategy was a good fit.

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Payden and Rygel

Payden & Rygel is one of the largest privately-owned global investment advisers. Founded in 1983, they manage fixed income and equity portfolios through domestic and international solutions.

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