Core Insights - Palmer Square Capital Management is launching three innovative ETFs targeting European institutional investors, expanding its footprint in the European market [1][2][3] - The ETFs will include two passive products focused on EUR and USD denominated AAA and AA CLO debt, and one active multi-strategy ETF [1][2] - The launch reflects the company's commitment to providing advanced solutions in structured credit and meeting rising market demand [2][3] Company Overview - Palmer Square Capital Management was founded in 2009 and manages over $33 billion in assets, focusing on fixed income and credit investments [4] - The firm serves a diverse client base, including institutional investors and high net worth individuals, and offers various investment products such as mutual funds, ETFs, and CLOs [4] - Major offices are located in Kansas City and London, emphasizing a global presence in the investment management industry [4] Product Features - The new ETFs aim to provide capital preservation by targeting cycle-resilient assets with zero historical defaults [2] - The actively managed multi-asset credit allocation product will simplify portfolio construction and enhance access to relative value opportunities across corporate and structured credit [2] - The passive products will leverage Palmer Square's expertise in the senior tranches of the CLO market, offering efficient access to this asset class [2][3] Market Demand - There is a growing institutional appetite for European CLO indices and debt products, indicating strong demand for the new ETFs [3] - The ability to manage and develop these products in-house ensures operational independence and high execution standards [3] - The ETFs are expected to be available in Europe in early 2025, aligning with market trends and investor needs [3]
Palmer Square Capital Management Set to Launch First European CLO ETFs