Palmer Square Capital Management Launches New Multi-Asset and CLO Credit ETFs

Rhea-AI Summary

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.

Positive

• 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

Negative

• None.

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 $32 billion in assets under management, is announcing the launch of two innovative exchange traded funds (ETFs). Palmer Square's new ETFs include The Palmer Square Credit Opportunities ETF (PSQO), an actively managed multi-asset credit strategy and The Palmer Square CLO Senior Debt ETF (PSQA), an indexed collateralized loan obligation (CLO) focused fund providing access to the broader universe of AAA and AA tranches of the US CLO market.

"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 Kansas City and London, Palmer Square manages over $32 billion in fixed income/credit investments on behalf of a diverse client base inclusive of institutional investors, wealth management firms, and high net worth individuals (as of 6/30/24). The firm primarily focuses on Opportunistic Credit, Income Strategies, Private Credit, and CLOs while offering many product opportunities, including mutual funds, separately managed accounts, private partnerships, CLOs, and a publicly traded Business Development Company, Palmer Square Capital BDC Inc. (NYSE: PSBD).

Media contact: palmersquare@kcsa.com

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SOURCE Palmer Square Capital Management

FAQ

What are the ticker symbols for Palmer Square's new ETFs?

The ticker symbols for Palmer Square's new ETFs are PSQO for the Palmer Square Credit Opportunities ETF and PSQA for the Palmer Square CLO Senior Debt ETF.

When will Palmer Square's new ETFs begin trading?

Palmer Square's new ETFs, PSQO and PSQA, will begin trading on September 12, 2024.

What is the focus of the Palmer Square Credit Opportunities ETF (PSQO)?

The Palmer Square Credit Opportunities ETF (PSQO) is an actively managed multi-asset credit strategy offering investors access to relative value opportunities across corporate and structured credit.

What does the Palmer Square CLO Senior Debt ETF (PSQA) track?

The Palmer Square CLO Senior Debt ETF (PSQA) tracks a proprietary CLO Senior Debt Index (CLOSE) and provides passive access to AAA and AA tranches of the US CLO market.

How much assets under management does Palmer Square Capital Management have?

Palmer Square Capital Management has over $32 billion in assets under management.