Products January 14, 2009

Platforms Pick up Cash Balance Fund

The Payden/Kravitz Cash Balance Plan Fund, described as the "first and only mutual fund designed exclusively for Cash Balance Pension Plans,″said it has been added to 10 provider platforms
Reported by

The fund (ticker: PKCBX) announced today it has been added to 10 platforms, including Matrix and Wilmington Trust (including AST Capital Trust)

Additionally, the fund is available on the Nationwide platform for brokers/advisers (available for purchase on the Resource and Innovator platforms Thursday). The fund has also reached an agreement with MassMutual that allows clients to select the fund as an investment option for retirement plan investment line-ups.

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According to the firm, these new platforms further the fund’s goal to offer cash balance plan sponsors and their advisers access to a strategic investment solution. The firm said the Payden/Kravitz Cash Balance Plan Fund offers an “institutionally diversified and risk-managed portfolio option.” For retirement plan intermediaries and cash balance plan sponsors, the firm noted that the fund offers an opportunity to minimize their administrative burden and simplify performance monitoring.

Cash balance design consultant/administrator Kravitz along with Payden & Rygel announced the launch of the fund last September (see “Kravitz Releases Fund for Cash Balance Plans“). The Payden/Kravitz Cash Balance Plan Fund is distributed through intermediaries including retirement plan providers, financial advisers and third-party administrators by Payden & Rygel Distributors.

For more information about the platforms on which the fund is available and to obtain a prospectus, contact Payden & Rygel’s David Hilton at 213.830.4278.

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