This all-cap emerging equity strategy, managed by a European-based investment team, uses a combination of top-down and bottom-up analysis to drive stock selection. We start with an evaluation of economic conditions, singling out sectors of interest, and a proprietary quantitative model that screens and ranks securities based on valuation and momentum. Once the model generates a list of companies with the most attractive metrics, we conduct in-depth qualitative analysis, which includes visiting companies on-site and meeting company management.
Over the last two decades, one of the world’s most dramatic economic transitions unfolded in Central and Eastern Europe. In fact, the transition has been so dramatic that, today, the term "developing" more accurately describes the majority of our investment universe in the region, characterized by higher incomes, better education, and stronger sovereign credit ratings than the average "emerging" economy. This gives the firm's Eastern European Equity strategy a unique edge in the emerging market investment universe.
Metzler/Payden LLC, a joint venture between Payden & Rygel and Metzler Bank, is the sub-advisor to the European Emerging Markets Equity strategy. Metzler Bank has managed European equities since 1960; Payden & Rygel has been an active investment manager since 1983.