Palmer Square reaches Europe with 3 CLO ETFs
US credit-focused asset manager Palmer Square Capital Management invests in European ETFs through three strategies: credit obligations (CLOs).
The Mission Woods, Kansas-based firm said it wants to target European institutional investors with a trio of ETFs in “early 2025,” starting with the launch of the Palmer Square UR CLO Senior Debt Index ETF.
The firm’s first European launch offers actively managed exposure to the euro and US dollar through AAA- and AA-rated CLOs.
Palmer Square launches passive products that provide access to the company’s top CLOs expertise.
The fund promoter currently has more than $33 billion in assets under management (AUM), including the NYSE-listed $28 million Palmer Square Credit Opportunities ETF (PSQO).
The firm’s CIO and portfolio manager, Angie Long, commented: “The launch of these ETFs in Europe underscores our commitment to providing valuable solutions in complex investment environments around the world.
“Leveraging our proprietary standards trusted by institutions around the world, these new products provide efficient access to a unique and compelling asset class, reaffirming our commitment to creating value for institutional and professional investors.”
Taylor Moore, managing director and portfolio manager at Palmer Square, added: “The institutional appetite for our proprietary European CLO indices and debt products further reflects the demand for these innovative ETFs.
“Our ability to manage and develop these products entirely in-house ensures operational independence and best-in-class performance.”
Income launches follow the arrival of the Janus Henderson Tabula EUR AAA CLO UCITS ETF (JCLO) last week.
Invesco has offered to launch a pair of CLO ETFs with the Central Bank of Ireland (CBI) after learning that the regulator is set to change its stance on exposure.
This was an article. First published ETF Stream, a sister publication of etf.com.
