Specialist US fund manager Payden & Rygel is launching a UK based subsidiary to capitalise on the growing fixed income bond market according to the Financial Times.
The fund managers which specialises in bonds is targeting UK investors who are seeking to diversify their portfolios.
The London office will be headed by derivative and hedge fund specialist Robin Creswell in the role of managing director.
It fund managers will target the mid to long term corporate bond market aiming to attract institutional investors who wish to consolidate gains made on the equity markets.
The group which has £16.8bn under management was founded in 1983 and is based in Los Angeles.