Credit and alternatives investment manager Palmer Square Capital Management has launched its sixth mutual fund, the Palmer Square Long/Short Credit Fund (PCHIX, PCHAX).
Christopher D Long, president of Palmer Square Capital Management, sayss “We believe this is an ideal environment for long/short credit and are very pleased to now be able to offer our long/short credit strategy as a single-strategy mutual fund. We believe that the Fund offers investors a unique alternative to traditional fixed income investments, as our team seeks absolute returns on both the long and short side while aiming to minimizing volatility and exposure to interest rate risk.”
Leveraging the deep expertise of Palmer Square’s opportunistic credit team and the team’s history managing credit strategies, the Fund has an investment objective of absolute returns over a market cycle through a portfolio of long and short credit investments. The Fund will primarily invest long and short in corporate bonds, loans, convertible bonds, structured credit (most notably, collateralised loan obligations or CLOs), and derivatives.
According to Angie K Long, chief investment officer of Palmer Square: “Our team has a deep history of being able to find relative value across credit and in this environment there are not only many opportunities to create a differentiated long credit book, but also ample opportunity to be short credit (most specifically, single name corporate credit). We believe our team is well-positioned and nimble enough to capitalise on these opportunities across credit.”
Based outside Kansas City, Missouri, and managing approximately USD4.3 billion in assets, Palmer Square is part of Montage Investments, a diverse group of institutional investment managers that together manage nearly USD27 billion for a wide range of investors. Montage supports Palmer Square’s distribution efforts through its team of 38 distribution professionals who are located throughout the country.
“Palmer Square continues to be a pioneer in the mutual fund space,” says Gary P Henson, CFA, CFP, president and chief investment officer of Montage Investments. “This fund launch will further enhance the strength of Palmer Square’s product offering and augment the team’s ability to continue providing credit solutions to a diverse range of clients.”
