Wed, Sep 28, 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. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style