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Penn Mutual AM launches institutional mutual fund

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Penn Mutual Asset Management (PMAM) has launched the Penn Mutual AM Unconstrained Bond Fund (PMUBX), which utilises 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,” says Keith Huckerby (pictured), 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 utilises 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,” adds 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.
 

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