HORSHAM, Pa.--(BUSINESS WIRE)--Penn Mutual Asset Management, LLC (PMAM), a registered investment advisory firm and wholly owned subsidiary of The Penn Mutual Life Insurance Company (Penn Mutual), announces the launch of the Penn Mutual AM Unconstrained Bond Fund (PMUBX). This Fund utilizes an unconstrained approach and seeks attractive risk-adjusted total return through a combination of income and capital appreciation. PMAM chose to launch the Fund as a series of the Advisors' Inner Circle Fund III.
“Our entrance into the institutional mutual fund space was a natural next step in the evolution of our existing unconstrained bond strategy. The Fund accommodates investors who have different preferences for accessing our approach,” said Keith Huckerby, president and chief marketing officer of PMAM. “We are excited to offer investors access to our investment team’s depth of fixed income expertise in an institutional mutual fund wrapper.”
The firm, known for its integrated approach to fixed income investing, launched its unconstrained fixed income strategy in January 2016. Given today’s rising rate environment and heightened volatility in the markets, this strategy utilizes a flexible mandate that pursues opportunities across various asset classes, which may have the potential to deliver higher excess returns than traditional fixed income strategies.
“Today’s global market conditions demand a truly nimble, absolute-return focus for fixed income investors, and we believe our approach provides a solution for investors who are conscious of the potential impacts of rising interest rates, currency fluctuations and geopolitical risk,” added Mark Heppenstall, CFA, chief investment officer and portfolio manager at PMAM.
PMAM is entrusted with managing the general account for Penn Mutual and its insurance subsidiaries as well as being the adviser for Penn Series Funds, Inc., a proprietary fund complex.
About Penn Mutual Asset Management
Penn Mutual Asset Management, LLC (PMAM), is an institutional asset-management firm located just outside of Philadelphia, Pa. The firm is committed to serving the institutional marketplace by offering fixed income investment solutions and client-focused services.
These solutions are accessible through separately managed accounts, sub-advisory relationships and various commingled vehicles.
With over $24 billion in total assets under management as of June 30, 2018, the firm is dedicated to creating value through a prudent, thoughtful and rigorous investment decision-making process. As fixed income specialists, PMAM tailors its proven approach with the objective to generate risk-adjusted returns that result in consistent earnings, while balancing the need for capital preservation to achieve each client’s strategy and goals.
Since 1989, Penn Mutual Asset Management has been a registered investment adviser and wholly owned subsidiary of The Penn Mutual Life Insurance Company, which has been in the insurance and investment business since 1847.
