The fund is the firm’s second open-ended mutual fund in the alternative investment space. Palmer Square and SSI have raised approximately $160 million of investment capital to launch the fund. SSI’s strategy for the fund is investing long in convertible securities and establishing short positions in the common stock of the issuers of those convertible securities.
The fund offers investor and institutional share classes. Its sub-adviser is SSI Investment Management. The fund was enabled by Palmer Square’s affiliation with Montage Investments, a group of asset managers.
“We believe the SSI team has a very successful, 17-year track record of managing this alternative income strategy, which leverages SSI’s deep expertise in the convertible bond space,” said Christopher D. Long, founder and president of Palmer Square Capital Management.