Products January 14, 2009

Platforms Picking up Cash Balance Fund

January 14, 2009 (PLANSPONSOR.com) - The Payden/Kravitz Cash Balance Plan Fund - described as the "first and only mutual fund designed exclusively for Cash Balance Pension Plans" says it has been added to 10 provider platforms.
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The fund (ticker: PKCBX) , the first and only mutual fund designed exclusively for Cash Balance Pension Plans, announced today that the fund has been added to 10 platforms including those below:

  • Matrix
  • 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 on January 15, 2009).   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.

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. According to the firm, 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 notes 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  New Fund is Designed for Cash Balance Plans ).   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.

For more information on the platforms on which the fund is available and to obtain a prospectus, you can contact Payden & Rygel’s David Hilton at 213-830-4278.

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