Penn Mutual Asset Management (PMAM), which has nearly $20bn in assets under management, has forayed into private global market by launching its Global Unconstrained Bond Fund.
The private actively-managed fund seeks to maximize total return via an unconstrained, flexible approach of investing in a diversified portfolio of fixed income sectors and instruments of varying maturities.
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"Given heightened volatility in the markets, the portfolio managers will maintain a nimble approach that pursues opportunities across various asset classes," the asset management firm said.
The new fund is designed for pensions, endowments, and other institutional investors seeking to add a diversified fixed income strategy to their overall portfolio.
Commenting on the launch, PMAM president and chief marketing officer Keith Huckerby said: "The fund marks our entrance into the private global market and is an outgrowth of our firm’s depth and expertise as fixed income managers. It is designed to provide institutional and long-term investors access to our research and approach to fixed income markets.
PMAM is the entrusted investment adviser of The Penn Mutual Life Insurance Company (Penn Mutual), the parent company of PMAM, and adviser for the Penn Series Funds, a proprietary fund complex.
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