Business Details
37 Years
experience
Trusted Fixed-Income Investment Management Solutions
Penn Mutual Asset Management has established itself as a leader in fixed-income investment solutions with a 36-year track record of independent operation. Our firm specializes in crafting client-focused strategies tailored to institutional clients, particularly insurers, through separate accounts, sub-advisory relationships, and commingled vehicles. With $42.1 billion in assets under management as of September 30, 2025, we combine rigorous investment decision-making with a collaborative team approach to deliver value across the fixed-income risk spectrum. Our seasoned team of 29 investment specialists leverages deep expertise in liability-driven investing (LDI) and asset/liability management (ALM) to design customized solutions that align with client objectives. Backed by robust infrastructure and extensive counterparty relationships, we provide insurers with tailored LDI frameworks that address risk tolerance, liquidity needs, and regulatory requirements.Our commitment to innovation is evident in our alpha overlay strategies, which capitalize on total return opportunities while maintaining disciplined tracking error management. As a trusted partner to insurers for over three decades, we prioritize transparency, technical excellence, and client-centric service in all aspects of our operations. Our dedicated quantitative analysts and actuarial experts ensure precision in hedging portfolio duration, credit, and equity exposure within complex ALM frameworks. This institutional focus is supported by a proven ability to source attractive investment opportunities through superior deal flow access. By maintaining a nimble organizational structure, we remain responsive to evolving market dynamics while upholding our core philosophy of prudent, thoughtful investing.
Services
Enhanced Cash
Short Duration Bond
Strategic Income
Core Plus Bond
High Yield Bond
Balanced Income
Details
- Year established: 1989
Highlights and features
- 36-year track record managing institutional fixed-income portfolios
- $42.1 billion in assets under management as of September 30, 2025
- 29 specialized investment professionals with institutional focus
- Tailored liability-driven investing (LDI) solutions for insurers
- Dedicated quantitative analysts with actuarial expertise
Services
Enhanced Cash
Our Enhanced Cash strategy provides institutional investors with liquidity solutions that optimize short-term returns while maintaining capital preservation. This service employs a disciplined approach to credit analysis and interest rate positioning, utilizing high-quality money market instruments and short-duration securities. Designed for clients seeking superior cash yield with minimal volatility, the strategy incorporates daily liquidity features and rigorous risk controls to meet evolving cash management needs.
Strategic Income
The Strategic Income solution delivers comprehensive fixed-income exposure through a flexible mandate that spans investment-grade, high-yield, and alternative credit opportunities. This service emphasizes relative value identification across sectors and capital structures while maintaining risk-aware positioning. Targeting investors seeking diversified income generation, the strategy combines top-down macroeconomic analysis with bottom-up security selection to capitalize on market inefficiencies across the credit spectrum.
Liability-Driven Investing
Our Liability-Driven Investing services specialize in aligning asset portfolios with insurance liabilities through customized hedging strategies. This service employs dedicated quantitative analysis to match duration, credit exposure, and cash flow characteristics with liability profiles. Designed for insurers requiring precise asset/liability management, the solution integrates regulatory considerations and liquidity requirements while maintaining total return objectives through active portfolio management.
High Yield Bond
The High Yield Bond strategy focuses on capital appreciation and income generation through non-investment grade debt securities. This service combines fundamental credit research with sector rotation to identify undervalued opportunities while managing default risk. Targeting investors seeking enhanced yield potential, the approach maintains diversification across issuers and industries while employing rigorous downside protection measures to navigate volatile credit markets.
Balanced Income
Balanced Income solutions offer diversified exposure across fixed-income asset classes combined with strategic equity allocations. This service creates customized risk-return profiles by integrating core fixed-income holdings with satellite investments in alternative credit and equity strategies. Designed for investors seeking income stability with moderate growth potential, the approach dynamically adjusts asset mix based on market conditions while maintaining disciplined risk management frameworks.
People
Keith Huckerby
President & Chief Operating Officer
Keith Huckerby leads firm operations and strategic direction with over 25 years of asset management experience. He oversees investment processes, technology infrastructure, and client relationships while maintaining focus on organizational efficiency and growth initiatives.
Tyler Thur
Chief Financial Officer & Treasurer
Tyler Thur manages financial operations and corporate treasury functions with expertise in investment firm financial management. He ensures fiscal responsibility and transparency across all financial reporting and operational budgeting activities.
Victoria Robinson
Chief Compliance Officer
Victoria Robinson directs compliance programs and regulatory oversight with deep knowledge of investment management regulations. She maintains firm-wide compliance frameworks while advising on evolving regulatory requirements and risk mitigation strategies.
James G. Faunce
Portfolio Manager
James Faunce specializes in portfolio management with focus on fixed-income strategies. He contributes to investment decision-making processes and client portfolio construction while maintaining expertise in credit analysis and market dynamics.
Kristin Vassalotti
Marketing & Communications Manager
Kristin Vassalotti leads marketing initiatives and client communications with focus on investment solutions. She develops strategic messaging and market positioning while managing client engagement programs and thought leadership content.
Questions
What institutional investment solutions do you offer?
We provide fixed-income strategies including Enhanced Cash, Short Duration Bonds, Strategic Income, Core Plus Bonds, High Yield Bonds, and Balanced Income solutions tailored for institutional clients.
How do you approach liability-driven investing?
Our LDI approach combines dedicated quantitative analysis with actuarial expertise to create customized asset/liability management frameworks that align portfolio characteristics with insurance liabilities.
What experience does your investment team have?
Our 29 investment specialists have an average of 15 years' experience managing $42.1 billion in fixed-income assets, with particular expertise in institutional portfolio construction and risk management.
How do you support insurance company clients?
We offer specialized solutions for insurers including tailored LDI strategies, regulatory-compliant portfolio construction, and access to extensive fixed-income market opportunities through our deal flow network.
What differentiates your investment approach?
Our approach integrates collaborative team decision-making with rigorous risk management, combining macroeconomic analysis with bottom-up security selection across the fixed-income spectrum.
