Palmer Square Capital Management, a manager of hedge funds-of-funds and customized alternative investments, had launched its first open end mutual fund, the Palmer Square Absolute Return Fund.
The fund is a fund-of-fund that will invest in seven funds run by Montage Investments that operate 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. The fund will be managed by Palmer Square President Christopher D. Long and Chief Investment Officer Angie K. Long.
“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,” Christopher D. Long said. “We invest directly in equity, credit and macro-related hedge fund strategies while maintaining a keen focus on absolute returns and downside protection.”
Angie K. Long noted that with equity markets remaining volatile and interest rates expected to rise, an absolute return fund that offers risk-adjusted returns should appeal to investors.