Searches and Hires

Fopdire picks Payden & Rygel for 2 total-return bond allocations

Fondo Pensione Dirigenti Gruppo Eni, Rome, hired Payden & Rygel to run two total-return bond allocations, a spokesman said.

Fopdire, the pension fund for directorial staff at Italian energy group Eni, has €410 million ($470 million) in assets. The size of each allocation managed by Payden & Rygel was not disclosed by the spokesman.

According to the pension fund's investment policy document, Fopdire has 30% of its investments in investment-grade corporate eurozone bonds, 15% in eurozone government bonds, 10% in inflation-linked government bonds and 5% in U.S. government bonds.