Palmer Square Capital Management Launches New Multi-Asset and CLO Credit ETFs
Palmer Square Capital Management, a credit-focused asset manager with over $32 billion in assets under management, has launched two new ETFs: The Palmer Square Credit Opportunities ETF (PSQO) and The Palmer Square CLO Senior Debt ETF (PSQA). PSQO is an actively managed multi-asset credit strategy, while PSQA is a passive fund focused on AAA and AA tranches of the US CLO market.
The firm, a top global CLO issuer, aims to leverage its expertise in credit strategies and CLO management to provide investors with enhanced access to credit assets. PSQO offers a comprehensive multi-asset credit allocation, while PSQA tracks a proprietary CLO Senior Debt Index (CLOSE). Both ETFs are set to begin trading on September 12, 2024, with Palmer Square ringing the opening bell at the New York Stock Exchange.
Palmer Square Capital Management, un gestore di asset focalizzato sul credito con oltre 32 miliardi di dollari di asset in gestione, ha lanciato due nuovi ETF: The Palmer Square Credit Opportunities ETF (PSQO) e The Palmer Square CLO Senior Debt ETF (PSQA). PSQO è una strategia di credito multi-asset gestita attivamente, mentre PSQA è un fondo passivo focalizzato sulle tranche AAA e AA del mercato CLO statunitense.
L'azienda, uno dei principali emittenti di CLO a livello globale, mira a sfruttare la propria esperienza nelle strategie di credito e nella gestione dei CLO per fornire agli investitori un accesso migliorato agli asset creditizi. PSQO offre un'allocazione completa del credito multi-asset, mentre PSQA segue un indice proprietario di debito senior CLO (CLOSE). Entrambi gli ETF inizieranno a essere negoziati il 12 settembre 2024, con Palmer Square che suonerà la campana di apertura alla Borsa di New York.
Palmer Square Capital Management, un gestor de activos centrado en el crédito con más de $32 mil millones en activos bajo gestión, ha lanzado dos nuevos ETF: The Palmer Square Credit Opportunities ETF (PSQO) y The Palmer Square CLO Senior Debt ETF (PSQA). PSQO es una estrategia de crédito multi-activo gestionada activamente, mientras que PSQA es un fondo pasivo enfocado en las tramos AAA y AA del mercado CLO de EE. UU.
La firma, uno de los principales emisores de CLO a nivel mundial, busca aprovechar su experiencia en estrategias de crédito y gestión de CLO para proporcionar a los inversores un acceso mejorado a los activos de crédito. PSQO ofrece una asignación integral de crédito multi-activo, mientras que PSQA sigue un índice propietario de deuda senior CLO (CLOSE). Ambos ETF comenzarán a cotizar el 12 de septiembre de 2024, con Palmer Square sonando la campana de apertura en la Bolsa de Nueva York.
팔머 스퀘어 캐피탈 매니지먼트는 320억 달러 이상의 자산을 관리하는 신용 중심의 자산 관리 회사로, 두 개의 새로운 ETF를 출시했습니다: The Palmer Square Credit Opportunities ETF (PSQO)와 The Palmer Square CLO Senior Debt ETF (PSQA). PSQO는 적극적으로 관리되는 다중 자산 신용 전략인 반면, PSQA는 미국 CLO 시장의 AAA 및 AA 트랜치에 초점을 맞춘 수동 펀드입니다.
이 회사는 세계 최고의 CLO 발행자 중 하나로, 신용 전략과 CLO 관리에 대한 전문 지식을 활용하여 투자자에게 신용 자산에 대한 접근성을 향상시키는 것을 목표로 하고 있습니다. PSQO는 포괄적인 다중 자산 신용 할당을 제공하며, PSQA는 독점 CLO 선순위 채무 지수(CLOSE)를 추적합니다. 두 ETF는 2024년 9월 12일에 거래를 시작할 예정이며, 팔머 스퀘어는 뉴욕 증권 거래소에서 개장 종을 울릴 예정입니다.
Palmer Square Capital Management, un gestionnaire d'actifs axé sur le crédit avec plus de 32 milliards de dollars d'actifs sous gestion, a lancé deux nouveaux ETF : The Palmer Square Credit Opportunities ETF (PSQO) et The Palmer Square CLO Senior Debt ETF (PSQA). PSQO est une stratégie de crédit multi-actifs gérée activement, tandis que PSQA est un fonds passif axé sur les tranches AAA et AA du marché CLO américain.
La société, un émetteur CLO mondial de premier plan, vise à tirer parti de son expertise en stratégies de crédit et en gestion de CLO pour offrir aux investisseurs un meilleur accès aux actifs de crédit. PSQO propose une allocation complète de crédit multi-actifs, tandis que PSQA suit un indice de dette senior CLO propriétaire (CLOSE). Les deux ETF devraient commencer à être négociés le 12 septembre 2024, Palmer Square sonnant la cloche d'ouverture à la Bourse de New York.
Palmer Square Capital Management, ein kreditfokussierter Vermögensverwalter mit über 32 Milliarden Dollar an verwaltetem Vermögen, hat zwei neue ETFs eingeführt: The Palmer Square Credit Opportunities ETF (PSQO) und The Palmer Square CLO Senior Debt ETF (PSQA). PSQO ist eine aktiv verwaltete Multi-Asset-Kreditstrategie, während PSQA ein passiver Fonds ist, der sich auf AAA- und AA-Tranchen des US-CLO-Marktes konzentriert.
Die Firma, ein führender globaler CLO-Emittent, strebt an, ihr Fachwissen in Kreditstrategien und CLO-Management zu nutzen, um denInvestoren verbesserten Zugang zu Kreditvermögen zu bieten. PSQO bietet eine umfassende Multi-Asset-Kreditallokation, während PSQA einem proprietären CLO Senior Debt Index (CLOSE) folgt. Beide ETFs sollen am 12. September 2024 mit Palmer Square, das die Eröffnungsglocke an der New Yorker Börse läutet, an den Handel gehen.
- Launch of two new ETFs (PSQO and PSQA) expanding product offerings
- Leveraging expertise as a top global CLO issuer for ETF creation
- $32 billion in assets under management demonstrates significant market presence
- PSQO offers active management in multi-asset credit strategy
- PSQA provides passive access to AAA and AA tranches of US CLO market
- None.
Insights
Palmer Square's launch of two new ETFs, PSQO and PSQA, marks a significant expansion in the credit investment landscape. The actively managed PSQO offers a multi-asset credit strategy, while the passive PSQA focuses on CLO senior debt. This move capitalizes on Palmer Square's
The timing is strategic, potentially capitalizing on current market volatility and investor demand for diversified credit exposure. However, investors should note that while CLOs can offer higher yields, they also carry complex risks. The success of these ETFs will largely depend on Palmer Square's ability to navigate credit cycles and maintain competitive expense ratios in the ETF space.
Palmer Square's entry into the ETF market with PSQO and PSQA is a savvy move to democratize access to complex credit strategies. The actively managed PSQO could appeal to investors seeking professional management in the volatile credit space, while PSQA's passive approach to CLO senior debt fills a niche in the fixed income ETF landscape.
Key to watch will be:
- Expense ratios compared to existing credit ETFs
- Liquidity provision in these potentially less liquid underlying markets
- Performance during various market conditions, especially for the active PSQO
The introduction of PSQO and PSQA by Palmer Square is a notable development in the credit ETF space. PSQO's multi-asset approach could provide valuable diversification benefits, especially in the current uncertain economic environment. The PSQA's focus on AAA and AA CLO tranches offers a unique risk-return profile that's typically been less accessible to retail investors.
However, investors should be aware that while senior CLO tranches have historically been stable, the underlying loan market can be volatile. The success of these ETFs will hinge on Palmer Square's ability to navigate credit risks and maintain attractive yields in a competitive fixed income market. This launch could potentially increase liquidity and price discovery in the CLO market.
Top global CLO issuer introduces active Credit Opportunities ETF (PSQO) and passive CLO Senior Debt ETF (PSQA)
MISSION WOODS, Kan., Sept. 11, 2024 /PRNewswire/ -- Palmer Square Capital Management ("Palmer Square") a credit-focused alternative asset management firm founded in 2009 with over
"Our deep experience in managing opportunistic multi-asset credit strategies and funds across the spectrum of corporate and structured credit as well as our market-leading expertise in structuring, managing, and issuing CLOs ensures our ETFs are designed with a keen understanding of the market's complexities and opportunities," said Chris Long, Palmer Square Chairman and CEO. "As the creator of the first public Senior and Debt CLO benchmarks in 2015 and our position as a top issuer in the global CLO market, we have laid the groundwork to continue providing investors with high-quality access to the landscape of credit assets through a multitude of products, which will now include ETFs."
- PSQO is an actively managed, comprehensive multi-asset credit allocation product offering investors a single-manager solution to simplify portfolio construction and provide enhanced access to the best relative value opportunities across corporate and structured credit, to include CLOs, investment grade and high yield corporate bonds, ABS and bank loans.
- PSQA provides passive access to the CLO market through a proprietary, research-driven CLO Senior Debt Index (CLOSE) that creates an investable way of accessing Palmer Square's deep understanding and research within the senior tranches of the CLO market.
"Our experience and expertise have culminated in these innovative ETFs, giving investors an efficient way to access sophisticated credit strategies," said Angie Long, Chief Investment Officer and Portfolio Manager. "Palmer Square's investment philosophy has been consistent through multiple credit cycles and is underpinned by the Firm's core competencies of locating relative value and selecting credits through granular, bottom-up fundamental credit analysis."
The ETFs begin trading Thursday, September 12 and Palmer Square will be ringing the opening bell at the New York Stock Exchange the same day.
About Palmer Square Capital Management
Founded in 2009 by Christopher Long, with major offices in
Media contact: palmersquare@kcsa.com
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SOURCE Palmer Square Capital Management
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