General Info

Independence Capital Management, Inc., (ICMI) is a wholly owned investment advisory subsidiary of Penn Mutual. It is responsible for fund selection and performance for the sub advisors within Penn Mutual's variable products, ensuring that they are performing well and in a manner consistent with their asset style. It is also responsible for making the day-to-day investment decisions for several of the fixed income sub accounts. In addition, ICMI manages separate account bond assets for institutional investors.