Metzler/Payden European Emerging Markets Fund Overview

Why invest in this fund?
• Potential for enhanced returns
• Excellent diversification tool
• Exposure to developing European markets
• Invests in countries forecasted to expand at a greater rate than that of developed
economies over the next five years
• Low expense ratio
• Managed by investment team based in Europe

Investment strategy
This fund invests in Europe’s developing economies in the Central and Eastern parts of the continent. Our stock selection approach utilizes a combination of top down and bottom up analysis. 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 often includes visiting companies on-site and meeting company management.

Emerging markets defined
We consider countries with per capita income below a certain level that are experiencing profound economic changes to be emerging markets. Often times, they are transitioning from a command economy to a free market economy, where the allocation of resources is determined by supply and demand. As applied to Eastern European countries, the term “developing” more accurately describes the majority of our investment universe. This region is set apart by higher incomes, better education, and stronger sovereign credit ratings than the average “emerging” economy, making it unique in the emerging market investment universe.

Meet the manager
Markus Brück joined Metzler as Senior Equity Portfolio Manager in 2002. His primary responsibility is management of Eastern European portfolios. Before joining Metzler, he had various fund and portfolio management responsibilities at Credit Suisse Asset Management, Frankfurt/Main, Germany; Deka Investment Management GmbH; and WestLB Capital Management GmbH, Düsseldorf/Germany. Mr. Brück holds a degree in economics from the Justus Liebig University of Gießen/Germany.

For more information and to obtain a prospectus browse this website or call 866 673-8637. Before investing, investors should carefully read and consider investment objectives, risks, charges, expenses and other important information, which are contained in the prospectus. Investment in foreign securities offers different rewards and challenges from investing in domestic securities, including changes in exchange rates, political changes, and differences in reporting standards, and for emerging-market securities, greater volatility. The Metzler/Payden Funds are distributed by Payden & Rygel Distributors, member FINRA.