The firm’s lineup has demonstrated industry-average durability. Its 10-year risk-adjusted success ratio is 57%, meaning that 57% of strategies have both survived and beaten their respective category median on a risk-adjusted basis. A firm's success ratio indicates relative performance and provides insight into a firm’s discipline around investment strategy and product development. The longest-tenured strategy managers at Penn are worth mentioning. With 16 years of average asset-weighted tenure, this group has a wealth of experience to draw upon should markets head south. Penn has faced above-average manager turnover in the past five years. This is a concern, as long-term stability tends to support positive results.
Penn has some investor-friendly attributes, but other attributes warrant caution, leading to an Average Parent Pillar rating.