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Penn Mutual Asset Management is pleased to announce the recent milestones achieved by our institutional mutual funds - Penn Mutual AM 1847 Income Fund (PMEFX) celebrated its 1-year anniversary on July 31 and Penn Mutual AM Strategic Income Fund (PMUBX) celebrated its 3-year anniversary on July 2. We are excited to share the Funds continue to deliver strong performance on both an absolute and relative basis as a result of our disciplined investment process and value-based approach.
We believe the Funds are well positioned for the long term, and the strategies are particularly compelling in the current environment of economic uncertainty and heightened volatility. The long-tenured portfolio management teams are focused on uncovering and delivering value for shareholders.
Penn Mutual AM 1847 Income Fund (PMEFX)
A multi-asset portfolio of income-producing securities that seeks current income and total return. Driven by a bottom-up, value-based investment process, the Fund employs a flexible asset allocation with a 40% common stock limit (at purchase) balanced with investment-grade corporates, high-yield bonds, convertible bonds and preferred stock.
Key highlights:
- Top-quartile performance relative to Balanced Income peers, with the Fund ranking in the 17th percentile out of 512 funds in its Morningstar category* since inception
- Focus on total return AND risk/reward
- Outperformance versus the Morningstar Moderately Conservative Target Risk Total Return benchmark, generating 557 basis points of Alpha gross since inception
Performance data shown represents past performance and is not a guarantee of future results. Investment performance and principal value will fluctuate, so when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call 877-PMA-MLLC (877-762-6552).
Visit our website here to view a PDF of the anniversary piece as well as Fund documents including the fact sheet, prospectus and account application.
Penn Mutual AM Strategic Income Fund (PMUBX)
A flexible, multi-sector bond fund that seeks attractive risk-adjusted total returns through a combination of income and capital appreciation with a focus on diversification and risk management. The Fund opportunistically invests across the yield curve and all fixed-income sectors to create a diversified portfolio of high conviction ideas.
Key highlights:
- Opportunistic approach with total return focus
- Outperformance versus the ICE 3-Month LIBOR benchmark, generating 1,134 basis points of gross cumulative Alpha since inception
- Diversified allocation relative to core fixed-income strategies
Performance data shown represents past performance and is not a guarantee of future results. Investment performance and principal value will fluctuate, so when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. For the most recent month-end performance, please call 877-PMA-MLLC (877-762-6552).
Visit our website here to view a PDF of the anniversary piece as well as Fund documents including the fact sheet, prospectus and account application.
The Funds are available on the Schwab and Pershing trading platforms and can also be purchased directly. For more information about the Funds, contact Chris Fanelli, managing director, business development, at fanelli.chris@pennmutualam.com or (609) 306-7034.
To download this announcement, please see the attachment below.
About PMAM
With approximately $34 billion in assets under management as of July 31, 2021, Penn Mutual Asset Management ("PMAM") is an institutional asset management firm located just outside of Philadelphia, PA that has been offering investment solutions and client-focused services since 1989.
Follow the latest news and insights from the PMAM investment team at The Long View, as well as on LinkedIn and Twitter.
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Important Information
The information contained herein has been prepared solely for informational purposes. It is subject to change without notice and it is not intended as an offer or solicitation of the Funds nor any other products or services offered by PMAM. Please note this information has been prepared as a general summary without consideration of any specific investors, thus please do not use this material solely to make any investment decisions. All investors should always refer to the prospectus to learn more about the Funds before investing.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For the full prospectus, which contains this and other information about the Fund, please visit www.pennmutualam.com. Investors should read the prospectus carefully before investing.
The Funds are distributed by SEI Investments Distribution Co. (SIDCO) at 1 Freedom Valley Drive, Oaks, PA 19456, which is not affiliated with Penn Mutual Asset Management. Investing involves risk, including possible loss of principal. The Funds’ other investment risks include, but are not limited to, interest rate, inflation, credit and default risk associated with fixed-income securities. In addition, high-yield bonds have a higher risk of default or other adverse credit events. Other risks include, but are not limited to, equity risk, preferred stock risk, allocation risk, conflicts of interest risk, counterparty credit risk, foreign investments risk, high portfolio turnover risk, liquidity risk and volatility risk. There is no guarantee the Funds will achieve their stated objective.
*For the Penn Mutual AM 1847 Income Fund, the competitive investment universe and representative peer group as represented by Morningstar is the Allocation – 30% to 50% Equity category. Funds in this group seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds and cash. These portfolios are dominated by domestic holdings and have equity exposures between 30% and 50%.
Morningstar Moderately Conservative Target Risk Total Return USD Index - The Morningstar Target Risk Index family is designed to meet the needs of investors who would like to maintain a target level of equity exposure through a portfolio diversified across equities, bonds and inflation-hedged instruments. The Morningstar Moderately Conservative Target Risk Index seeks approximately 40% exposure to global equity markets.
Bloomberg Barclays U.S. Corporate Investment Grade Index - An index that measures the investment grade, fixed-rate, taxable corporate bond market. It includes USD denominated securities publicly issued by US and non-US industrial, utility and financial issuers.
Bloomberg Barclays U.S. High Yield 2% Issuer Capped Index - An issuer-constrained version of the flagship US Corporate High Yield Index, which measures the USD-denominated, high yield, fixed-rate corporate bond market. The index follows the same rules as the uncapped version, but limits the exposure of each issuer to 2% of the total market value and redistributes any excess market value index-wide on a pro-rata basis.
Russell 3000 Value Index - An index that measures the performance of the broad value segment of the US equity value universe. It includes those Russell 3000® companies with lower price-to-book ratios and lower forecasted growth values.
The ICE 3-Month USD LIBOR Index is a benchmark rate produced for five currencies with 3-Month maturities. It provides an indication of the average rate at which a LIBOR contributor bank can obtain unsecured funding in the London interbank market for a given period, in a given currency. The performance results for the ICE 3-Month USD LIBOR Index are net of foreign income tax withholding.
The 3-month LIBOR stands for London Interbank Offered Rate. It is the benchmark interest rate for many adjustable rate mortgages, business loans and financial instruments traded on global financial markets.