Palmer Square Offers Hedge-Like Mutual Fund

May 19 2011 | 10:15am ET

Palmer Square Capital Management has launched an open-ended mutual fund offering access to hedge-fund strategies.

The Palmer Square Absolute Return fund, launched in partnership with Montage Investments, uses seven institutional managers operating a broad range of hedge fund-type strategies including global macro, long/short and event-driven credit, long/short international and domestic equity, and convertible bond arbitrage.

Palmer Square founder and president, Christopher D. Long, and CIO Angie K. Long will manage the fund. Angie Long is the former deputy head of crediting trading for North America for JPMorgan Chase.

The fund offers investor and institutional share classes, trading under the symbols PSQAX and PSQIX, respectively.

“With the Palmer Square Absolute Return Fund, we are excited to leverage our experience investing with fund managers who have had great success executing hedge fund style strategies across numerous different market cycles,” said Christopher Long. “We invest directly in equity, credit, and macro-related hedge fund strategies while maintaining a keen focus on absolute returns and downside protection.”

Montage Investments, a diverse group of asset managers (including Tortoise Capital Advisors) offers multiple investment solutions, including mutual funds, closed-end funds, separately managed accounts and alternative partnership investments to financial intermediaries. Montage currently manages over $9 billion for institutions and high-net-worth individuals.

 


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