|
NEWS RELEASE
February 5, 2009
FOR IMMEDIATE RELEASEs
CONTACT: Daniel Kravitz
President, Kravitz
818-379-6162
dkravitz@kravitzinc.com
Payden/Kravitz Cash Balance Plan Fund Outperforms Benchmark
(Encino, CA) – The Payden/Kravitz Cash Balance Plan Fund (PKCBX), the
first and only mutual fund designed exclusively for Cash Balance Pension
Plans, reported performance 1.51% for the period of September 22
(inception date of fund) through December 31, 2008.
This outperformed its benchmark
which was 1.22% for the same period.*
Payden/Kravitz uses modern risk management techniques in an attempt to
achieve the investment objective while maintaining appropriate levels of
volatility. “We seek
opportunities from a wide range of sectors coupled with disciplined risk
management to produce stable performance,” stated
Brian Matthews, Managing Principal,
Payden & Rygel.
The Fund goes one step beyond current solutions by offering an
institutionally diversified and risk managed portfolio solution.
For retirement plan intermediaries and Cash Balance Plan
Sponsors, the new fund offers an opportunity to minimize their
administrative burden and simplify performance monitoring.
“We fully expect to see continued interest from intermediaries and
Cash Balance Plan Sponsors who are
seeking unique investment solutions that deliver both diversification
capabilities and positive return potential,”
said Dan Kravitz,
president of Kravitz.
The Payden/Kravitz Cash Balance Plan Fund seeks to earn a net rate of
return, after fees and expenses, which is equivalent to
the yield on 30-year Treasury
Securities Interest Rate, as
defined annually by the IRS. This rate is used by many Cash
Balance Plans for crediting interest to participant accounts. The fund
seeks to earn this rate each year, net of fees.
The returns presented here represent past performance, which is no
guarantee of future results. They do not reflect taxes that a
shareholder would pay on fund distributions or the sale of fund shares.
Returns and the principal value of your investment will fluctuate such
that shares may be worth more or less than original cost when redeemed.
Current performance may be higher or lower than that shown.
The Payden/Kravitz Cash Balance Plan Fund is distributed through
intermediaries including retirement plan providers, financial advisors
and third party administrators by Payden & Rygel Distributors,
member FINRA.
For more information and to obtain a prospectus, visit our web site at
www.cashbalancedesign.com
or call 213 830 4278.
* The average daily yield on the 30 years treasury for December as
defined by the IRS.
### About
Kravitz:
Since its founding in 1977, Kravitz has brought its clients the latest
in design, administration, and management of corporate retirement plans.
Kravitz is the largest independent firm of its kind in
About Payden & Rygel Founded
in
Before investing, investors should carefully read and consider
investment objectives, risks, charges, expenses and other important
information about the fund,
which is contained in this document. Fund performance is not guaranteed. |
