Sat, Jul 23, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Palmer Square Capital Management launches third mutual fund

Tuesday, October 15, 2013
Opalesque Industry Update - Palmer Square Capital Management today announced that it has launched its third mutual fund. Palmer Square’s Fountain Short Duration High Income Fund will be managed on a day-to-day basis by Palmer Square’s fundamental credit team and the firm’s majority-owned affiliate, Fountain Capital (Fountain) and overseen by Palmer Square.

“Over the last several years, there’s been a strong demand for credit-related investments with the ability to produce income and solid risk-adjusted returns in various market and interest rate environments,” said Christopher D. Long, President of Palmer Square Capital Management. “Leveraging a 23-year history of managing high-yield investments, our fundamental credit team has had great success meeting investor objectives across market cycles. This institutional history, track record and experience provides an exceptional foundation upon which to launch a fund that is specifically designed to meet the income needs of financial advisors and their clients.”

The new fund will focus on generating income for investors by investing in short-duration, high-yield fixed, variable or floating rate debt securities. The investment team will seek to identify securities of companies with improving credit fundamentals in attractive industries, with a constant focus on managing downside risk.

According to Doug Campbell, Managing Principal of Fountain Capital Management, “We believe that high-yield securities with short maturities are often overlooked and inefficiently priced. These inefficiencies provide us with an opportunity to generate attractive returns with less risk than the broader high-yield market. We’ve been successfully managing this strategy for institutions for 14 years and are looking forward to bringing the same strategy to a wider range of investors through a mutual fund product.”

The new fund will complement Palmer Square’s existing lineup, which already includes two mutual funds – the Palmer Square Absolute Return Fund (PSQIX/PSQAX), a multi-strategy credit solution, and the Palmer Square SSI Alternative Income Fund (PSCIX/PSCAX) – as well as the firm’s multiple private investment funds, many of which are focused on opportunistic credit.

Montage Investments, Palmer Square’s parent company, will manage the distribution of the new mutual fund product. According to Gary P. Henson, CFA, CFP®, president and Chief Investment Officer of Montage Investments, “This fund has the unique distinction of providing investors access to a management team that has a 14-year history of managing short duration high-yield almost exclusively for institutional clients. I’m looking forward to adding it to the Montage lineup, as I believe it will enhance our goal of delivering distinct investment solutions to a wide range of investors.”

Palmer Square Capital Management

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe