State of South Carolina Retirement System Selects PENN
State of South Carolina Retirement System Selects
PENN Capital Management Co., Inc.
February 2, 2012
Philadelphia, PA – The State of South Carolina Retirement System selected PENN Capital Management Company, Inc. (PENN) to manage $150 million in PENN’s Short Duration High Yield strategy. Launched in 2011, the objective of the style is to preserve principal, minimize duration risk, and generate attractive current income in higher quality non-investment grade-rated corporate bonds and loans. This strategy capitalizes on short duration securities likely to be re-financed/retired.
PENN Capital Management Company, Inc., founded in 1987, is an independent, nationally recognized, 100% employee owned investment management firm located in Philadelphia, PA. PENN maintains a fully integrated credit and equity research process and emphasizes Complete Capital Structure Analysis® when analyzing investment opportunities. PENN has approximately $5.7 billion in assets under management and specializes in high yield fixed income and micro-to-mid capitalization equity portfolios for institutions and individuals.
____________________
All inquiries can be sent to Candace A Brennan - cbrennan@penncapital.com
