Leawood, Kansas-based Palmer Square Capital Management LLC, has launched its second alternative mutual fund, dubbed the Palmer Square SSI Alternative Income Fund.

The firm partnered up with Montage Investments, to raise some $160 million of investment capital to launch the long/short fund, which bets on convertible securities on the long side and shorts the common stock of the issuers of those convertible securities. The fund offers investor and institutional share classes, trading under the symbols PSCAX and PSCIX, respectively. It is sub-advised by Beverly Hills, CA-based SSI Investment Management and charges a management fee of 130 basis points.

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