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PMAM promotes Mark Heppenstall to CIO


Penn Mutual Asset Management (PMAM) has promoted Mark Heppenstall, CFA, former managing director and portfolio manager, to chief investment officer (CIO).

Since joining PMAM in June 2014, Heppenstall has demonstrated a track record of excellence in leadership, and delivered above average risk adjusted returns for Penn Mutual’s policyholders.
In his new role as CIO, Heppenstall will continue to lend his expertise in the management of investment grade rated corporate and structured fixed income investments, while taking on a larger role shaping the firm’s overall investment strategy. His investment team will be comprised of three managing directors and portfolio managers, including Zhiwei Ren, CFA, Trevor Williams, CFA, and Greg Zappin, CFA.
“I am excited to make the announcement about Mark’s promotion today. Heppenstall has a tremendous background in managing fixed income and has demonstrated his ability to lead the investment team on a track of measurable success,” says PMAM Chairman and Chief Executive Officer David O’Malley. “We continue to seek opportunities to leverage our talent in ways that help deliver the best results for our clients.”
Prior to joining PMAM, Heppenstall served as the managing director of fixed income for the Pennsylvania Public Schools Employees Retirement System (PSERS) from 1998 to 2014. At PSERS, Mark’s team managed nearly USD7.5 billion in assets. Mark also personally managed a USD1.2 billion active bond fund and was responsible for managing both internal and external fixed income strategies. Heppenstall has more than 27 years of experience managing fixed income assets for institutional investors.
“In developing an innovative solution for financial advisers, we plan to combine the same discipline and successful approach to active asset allocation which has proven successful with the existing Multi-Asset Portfolio fund range, with investment selection that makes use of the ‘next-generation’ of passive investment strategies. Use of these strategies will enable us to better reflect our thematic views, while mitigating the costs and uncertainties associated with selection of actively managed funds. The portfolios will represent an evolution in the market from the plethora of traditional passive-only, multi-asset funds.”

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