Sat, Jun 25, 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 Roundup: Hedge funds shrink as liquidations outpace new launches in Q1: hedge fund news, week 27[more]

    In the week ending 17 May, 2016, HFR said hedge fund liquidations declined narrowly to begin 2016 after rising sharply to conclude 2015, as investors positioned f

  2. Europe - Hedge funds keep powder dry over big Brexit bets, Hedge funds sense profit in Europe shock waves after Brexit vote, Soros warns Brexit may cause pound plunge worse than Black Wednesday, After Brexit: What will happen if Britain votes to leave the UK?[more]

    Hedge funds keep powder dry over big Brexit bets From FT.com: Hedge funds are shying away from big bets on Brexit, with many unwilling to risk further losses having already suffered a painful first half of the year. With the outcome of a UK vote on the country’s membership of the Europea

  3. News Briefs - ’Flash Boys’ get green light to launch stock exchange, Pimco says ‘storm is brewing’ in U.S. commercial real estate, Bankers get ready to rumble at Hedge Fund Fight Night, AIMA Australia celebrates 15th anniversary[more]

    ’Flash Boys’ get green light to launch stock exchange In an investing environment ruled by fast, the newest U.S. public stock exchange is banking on slow. Well, slower. IEX Group, which won Securities and Exchange Commission approval on Friday to go head-to-head with the New York Stock E

  4. Blackstone buys minority stake in New York-based credit hedge fund Marathon[more]

    Benedicte Gravrand, Opalesque Geneva: Blackstone Strategic Capital Holdings Fund, a vehicle managed by Blackstone Alternative Asset Management (BAAM), has acquired a passive, minority interest in Marathon Asset Management, for an undisclosed sum. Based in New York,

  5. Global markets fell, hedge funds gain in mid-June on Brexit, Fed rate concerns[more]

    Komfie Manalo, Opalesque Asia: Global financial markets declined through mid-June, as uncertainty associated with the upcoming Brexit referendum and expected U.S. Fed interest rate hike contributed to increases in volatility across asset classes, data provider