Sun, May 1, 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. Hedge funds see $14.3bn outflows in Q1, CTAs and multi-strategy lead net inflows[more]

    Komfie Manalo, Opalesque Asia: The hedge fund industry saw net outflows of investor capital in the first quarter of the year, totaling $14.3bn, data from Preqin showed. This continues from the $8.9bn overall net outflows that funds recorded in Q4

  2. Third Point calls Q1 "catastrophic" for hedge funds[more]

    Bailey McCann, Opalesque New York: The first quarter of this year was rocky for hedge funds based on aggregate performance from the industry, but now we are beginning to hear what the managers thought of it as quarterly letters make their way to investors. Dan Loeb, CEO of New York-based $17 bill

  3. Asia - Stabilization of China's capital outflows may hinge on Janet Yellen, Fink says China to do well this year as bubble threat postponed, Chinese hedge fund to invest in India’s infrastructure[more]

    Stabilization of China's capital outflows may hinge on Janet Yellen From Bloomberg.com: Whether China’s recent stabilization of its currency and capital outflows continues -- or downside pressure reignites -- may hinge in large part on Janet Yellen. If the Federal Reserve chair sticks to

  4. …And Finally - After all, judges are human too[more]

    From Newsoftheweird.com: In March, one District of Columbia government administrative law judge was charged with misdemeanor assault on another. Judge Sharon Goodie said she wanted to give Judge Joan Davenport some files, but Davenport, in her office, would not answer the door. Goodie said once the

  5. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n