Penn Mutual Asset Management, Llc
- Regulatory AUM
- $42.3B
- Discretionary
- $42.3B
- Clients
- 35
- Avg AUM / client
- $1.2B
- Accounts
- 35
- Employees
- 30
AUM over time
Annual snapshots from Form ADV filings · as of Apr 01, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Investment companies | 29 | $9.3B | 21.9% |
| Insurance companies | 5 | $33.0B | 78.0% |
| Corporations and other businesses | 1 | $27.4M | 0.06% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Dec 2024 · $68.6M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Penn Mutual Asset Management Multi Series Fund (Master), Llc Series B master | Other Private Fund | Delaware | $68.6M | 2 |
People (7)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Huckerby, Keith Gordon | Chief Operating Officer, Manager Of Board Of Managers | May 2014 (12y) | Less than 5% | |
| O'malley, David Michael | Chairman Of The Board Of Managers | Jun 2014 (12y) | Less than 5% | |
| Victoria Marie Robinson | Chief Compliance Officer, Manager Of Board Of Managers | Oct 2021 (5y) | Less than 5% | |
| Heppenstall, Mark, Emory | President & Cio, Manager Of Board Of Managers | Jan 2022 (5y) | Less than 5% | |
| Raszeja, David Michael | Manager Of Board Of Managers | Jan 2022 (5y) | Less than 5% | |
| Gordon, Aaron J | Manager Of Board Of Managers | Apr 2024 (2y) | Less than 5% | |
| Trevor M Williams | Registered representative | CFA | Dec 2017 (9y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| The Penn Mutual Life Insurance Company | Owner | Jun 1989 | A | 75% or more |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (1, $68.6M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Penn Mutual Asset Management Multi Series Fund (Master), Llc Series B | Other Private Fund | $68.6M | $1.0M | 2 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 04/01/2026 | 1.17 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
Services
- • Portfolio management for investment companies
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
- • Selection of other advisers
Custody
Reported custodians
- BNY Mellon $31.6B (75% of AUM) Apr 2026
- State Street $14.9B (60% of AUM) Mar 2018
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Apr 01, 2026.
View current Form ADV (SEC/IAPD) ↗