Payden & Rygel is readying a new fund family for launch next year. The Los Angeles-based typically caters to institutional investors and has partnered with Germany's Metzler Bank for the effort. The pair formed Metzler/Payden Investment Group (based in Los Angeles) to create the new family of funds.

Earlier this month the firm filed paperwork with the SEC for four new funds. Each of the new offerings will target European stocks. In addition, the firm plans a fifth international fund. The pure no-load funds carry minimum investments of $5,000, putting them within reach of individual investors.

Metzler Bank also reportedly relocated Soeren Rytoft from Frankfurt to Los Angeles to oversee the launch of the new funds. He reports to Scott Weiner, president of the joint venture.  

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